Implenia concludes cooperation for German residential projects
Implenia's Real Estate division will in future cooperate on the German market with asset management heavyweight Union Investment and its partner for institutional residential funds, Deutsche Asset One.
The aim of the cooperation is to "Identification, financing, development and realization of attractive real estate project developments". Implenia is to contribute its experience and expertise in sustainable developments and, according to its own statements, can also use its Buildings, Civil Engineering and Specialties divisions in the implementation.
Deutsche Asset One, as an investment boutique in the residential sector, and Union Investment, as a service capital management company (KVG), have already been working together since 2011 on six institutional special residential real estate funds. Union Investment is the fund provider of the German Volks- und Raiffeisenbanken and is one of the largest real estate asset managers in Europe with real estate assets of EUR 45.1 billion - a large part of which for retail funds.
Implenia sees the agreement as part of its strategy to grow further in the German real estate market and, among other things, to expand its project development business. (aw)
