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Frankfurt's Kintyre passes €1bn AUM in 2017, eyes further expansion in 2018

City-Point Bochum ©

Frankfurt-based property investment manager Kintyre, specialised in retail and office management and investment, said it passed the €1bn-mark in managed assets last year as mandates grew by about one-third.

After expanding directly managed assets by 32% in 2017, Kintyre said it is looking forward to further growth this year. "Exceeding the €1bn barrier for assets under management for the first time since we established the business in 2009 was a notable achievement, all the more pleasing for us as a team as we achieved this milestone while continuing to enhance the quality of service provided to our clients," said Managing Partner Adam Pearce in a release. It additionally ended the year with co-investments worth around €235m.

Kintyre now holds mandates on around 600,000 sqm of commercial real estate, across 120 assets throughout Germany. Its expansion last year was supported by the appointment of 15 new staff, taking the total to 41. Growth is expected to continue this year with the recruitment of property professionals with project, construction, and technical expertise, adding value across Kintyre’s existing portfolio and providing additional resources for numerous value-add projects and development schemes in the pipeline. A focus on expanding centre management activities provide an opportunity to consolidate its position within Germany’s shopping centre sector, which at the current time is fragmented, the firm said.

Notable achievements for Kintyre over the past year include:

  • Acquisition of 16,000 sqm City Carree shopping centre in Salzgitter;
  • Acquisition of the 12,000 sqm multi-function property in city centre of Haldensleben;
  • Acquisition of strategic shareholding in 9,300 sqm Drehscheibe city centre shopping complex in Bochum;
  • Leasing a total 35,000 sqm in 36 new or extended contracts
  • Supporting RDI REIT in the disposal of its €205m Project Alliance retail portfolio
  • Sale of shareholding in Forum Landsberger Allee project, realising a 58% IRR
  • Corporate acquisition of a 20% strategic shareholding in Heidelberg-based facility manager Pacon Real Estate.

Kintyre has offices in Frankfurt, Berlin, and London, from which it liaises closely with clients wishing to access the German market.

Keywords : Kintyre, Adam Pearce
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