The real estate multi-family office PAMERA Real Estate Partners (PAMERA) increased its assets under management to more than EUR 750 million during 2020. Over EUR 150 million more than at the end of 2019.
The firm now manages a total of 42 properties and projects, mainly in the office, residential and hotel use classes, in 20 different locations across Germany. The assets have a combined lettable area exceeding 170,000 sqm.
Additional acquisitions in Dortmund and Schwerin augmented the housing stock to more than 550 units by the end of 2020, with further growth planned in 2021. In the office sector, properties worth over EUR 60 million were acquired. Here also, further purchases of up to EUR 100 million are anticipated in 2021.
In the development sector, the EUR 70 million LAGOM housing project, a joint venture between PAMERA and Bauwerk Capital to the southwest of Munich, was completed. Towards the end of the year, an additional site in the southeast of Munich of around 14,000 sqm was acquired for a commercial development project, scheduled to commence in the medium term.
Christoph Zapp, founder and managing partner of PAMERA, comments on the plans for 2021: “Despite the current challenging situation, we plan to make further acquisitions in the residential and office sectors and, in the development field, to continue the expansion of our joint venture and mezzanine investments. In our opinion, particularly in the post-Corona period, there will be interesting opportunities and ideas for exciting new projects.”
