L’Etoile Properties Group, 13 February 2017 – In 2016 L’Etoile Properties Germany increases its assets under management by Eur 750m and has a pipeline of further Eur 350m in exclusivity for Q1 of 2017. With additional transactions in France and Holland the firm currently manages assets under management in excess of Eur 5bn on group level. In the fourth quarter of 2016 the investment manager has signed and closed transactions in Paris, Amsterdam, Hamburg and Berlin.
L’Etoile Properties structured and managed the acquisition of the new 42,000 sqm. Novartis’s France HQ in Rueil-Malmaison (Paris) on behalf of Korean Investment & Securities off-plan from BNP Paribas Real Estate. It is the second acquisition in 2016 made on behalf of Korean investors after the 75,000 sqm. complex called De Rotterdam in the Netherlands made on behalf of a joint-venture structured with Amundi, KFCC and Meritz Securities.
According to Didier Unglik, Chairman and Founder of L’Etoile Properties, “this acquisition is the perfect conclusion for the year 2016 in which more than €1 billion were acquired on behalf of our clients. It also confirms the pertinence of the international strategy which we launched a few years ago. These acquisitions were performed in France as well as in Germany and the Netherlands. In each country our global service approach (acquisition, asset and property management) is provided through the respective local teams which bring their know-how as well as their knowledge of the local market and practice to the table. L’Etoile Properties has been acting on behalf of Korean, Spanish, Scandinavian, French and Middle Eastern investors, thus confirming the opportunity of opening local offices in Seoul, Madrid and London, the objectives of which is to attract foreign capital in the countries where we are operational.
Two other acquisitions were finalized by end of December: The Tom Tom’s HQ in Amsterdam and the North German HQ of Allianz in Hamburg. Moreover, L’Etoile Properties has exclusive position for the acquisition of more than €750m in Germany and Holland in the coming months and further acquisitions under negotiation in France.
The other acquisitions in 2016 are on assets located in Berlin, Düsseldorf and The Hague on behalf of Amundi, a Spanish family office, a Finnish pension fund and a private bank from Kuwait. Furthermore, an office portfolio located in South Germany was acquired on behalf of the French investor Perial.
Besides, L’Etoile Properties has won several asset management and property management contracts in France, Germany and Holland.
Didier Unglik concludes: “L’Etoile Properties will continue its international expansion strategy with the opening of new offices in the coming years. But one of our key objectives is to launch our first own discretionary Pan-European fund, the strategy of which is a niche segment between Core and Core +, a segment of reference for L’Etoile Properties.”