German investor and asset manager Union Investment said on Friday that is combining its Asset Management Overseas and Asset Management Hospitality units, which operate in global markets. The newly created Asset Management Intercontinental unit covers the office, hotel, logistics and retail use types on a total of four continents.
The firm has also appointed Martin Schaller heads new Asset Management Intercontinental division at Union Investment, which encompasses around €14 bn of assets.
Yvonne Brabant, head of Asset Management Hospitality Germany, Thorsten Purkus, head of Asset Management Hospitality International, and Ulrich Dischler, head of Asset Management Overseas, will all be reporting to Schaller.
'The new structure will enable us to leverage the synergies that arise in managing the global markets much more effectively. At the same time, by pooling our comprehensive expertise in global asset management, we are responding to the increasing integration of previously separately managed types of use,' said Henrike Waldburg, managing director at Union Investment Real Estate.
In addition to performance-oriented portfolio management, the Intercontinental team is responsible for letting and tenant management of Union Investment's fund properties in 16 countries. This currently includes 91 hotel properties in Europe and the Americas, as well as 44 office, retail and logistics properties in overseas markets, with total property assets of around €14 bn.
