Signature to invest €200m in German property market – Sunday Business Post
Signature Capital, a Dublin-based property-investment firm, is to splash out €200 million on up to 15 retail and office developments in major cities across Germany.
The company is in talks to spend up to €50 million on individual buildings in Berlin, Frankfurt and Leipzig, almost doubling the size of its property portfolio to around €500 million.
It plans to raise €50 million from its clients, mainly high net worth individuals and professional property investors and developers with the launch of a new investment fund this week. The bulk of its spending will be targeted on high street shops, shopping centres and established retail parks.
Signature managing director Ciaran McNamara said the firm had already identified the buildings it wanted and would complete the deals over the next six months.
‘‘We’d see ourselves as the Irish leader in commercial property opportunities in Germany,” he said. ‘‘This offers investors the opportunity to achieve a strong return on their equity over the medium term in an ever-improving German market. There’s a good spread of risk with mainly retail but also some office content.”
Signature, which opened an office in Berlin last year, will co-invest in the deals with its clients. It recently concluded a €54million deal to buy a major retail property in the German city of Essen and has invested around €200 million in Germany since it was set up in 2004. The company’s portfolio also includes properties in Britain, Ireland and the US.