09 Jan 2023

Tristan Fund Acquires German Resi Portfolio in Leipzig

Source: Tristan Capital Partners Press Release

9 January 2023, London: EPISO 6, a fund managed by Tristan Capital Partners, and joint venture partner Lübke Kelber has acquired, via a share deal, a residential portfolio across several attractive locations in Leipzig from Brack Capital Properties. The portfolio is valued at €240m.

Lübke Kelber will act as asset manager and co-investor, overseeing the local property and facilities management companies currently contracted to the properties.

Constantin Plenge, Managing Director of Tristan, said: “This transaction provides a strong footing in the German residential market as we look to build a larger, more diversified portfolio. Leipzig is the ideal location for our first acquisition, it is the fastest growing major city in Germany with corresponding rental and value growth potential; this portfolio is well-located and fully occupied delivering a resilient cashflow. Germany remains a core market for us and we’re continuing to assess thematic strategies which benefit from supply constrained long term demand drivers.”

Marc Sahling, Managing Director of Lübke Kelber, added: “The joint venture is part of our three-columns strategy at Lübke Kelber with its divisions Transaction Residential, Transaction Commercial and the Asset and Investment Management and joint ventures. This reflects the intensifying internationalization of the company.

“It underlines the fact that residential real estate in major German cities continues to be an attractive investment product and is also in demand from foreign investors in conjunction with regional expertise. With our local offices and network, we are ideally positioned to continue to extend opportunities in the residential real estate market together with our partner Tristan. We are looking forward to further expand our asset and investment management with this partner.”

EPISO 6 was advised by Clifford Chance, PwC, BNP Paribas, ENGEL & VÖLKERS (Leipzig), CBRE Valteq, Savills and KRAPF Rechtsanwälte