Frankfurt-listed property investor Publity more than trebled its portfolio during 2015 from €500 mln to €1.6 bn.
Frankfurt-listed property investor Publity more than trebled its portfolio during 2015 from €500 mln to €1.6 bn.
Publity said in a statement that the portfolio increase of 220% over a 12-month period underlined the company's position as one of the fastest growing asset managers in the German commercial real estate market.
'We not only predicted a significant increase in our assets under management in 2015, we also delivered on this commitment. We will continue to grow rapidly and strongly in 2016 and 2017 due to our unique market position and strong investment partners,' CEO Thomas Olek said.
The rapid growth, Publity said, was due to its business model of acquiring high-yielding office and commercial properties in Germany through joint ventures with institutional investors. Publity acts as a co-investor alongside either German or international institutional capital and takes charge of the asset management, which will enable it to get additional benefit from capital gains realised through eventual sale of assets.
Publity announced two acquisitions within the first two weeks of 2016, after at least a dozen acquisitions and a number of sales in 2015 The asset manager intends to be even more active this year and next as its target is to increase assets under management to around €5 bn by the end of 2017.
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