News

8. Juli 2019

press

ADVENTUM INTERNATIONAL ACQUIRES POZNAN FINANCIAL CENTER FROM PEAKSIDE CAPITAL

  • Last divestment for Peakside value-add separate account
  • Second tallest building in Poznan at 91 metres height
  • First investment for the Adventum QUARTUM real estate fund

Poznan, 8 July 2019. Adventum International, a Malta based boutique investment fund manager, has acquired the 18,000 sqm landmark and multi-award-winning office building Poznan Financial Center from Peakside Capital Advisors. The 16-storey, A-class office tower is fully leased to tenants such as Santander Bank, Medicover and Sonalake.

The transaction represents a milestone for both parties: It marks the final divestment for a value-add separate account managed successfully by Peakside. For Adventum, the acquisition is the first investment in the CEE region under its Adventum QUARTUM real estate fund.

Christopher Smith, heading the transaction with Peakside, commented that the sale is another successful transaction for Peakside in Poland and opens the company up to further investment activities in the country. “We will reinvest the freed capital in new opportunities in logistics and other asset classes. After successfully repositioning the asset over the past three years, we are glad to have found in Adventum a highly professional partner with a clear vision for the property.”

Andras Marton, director at Adventum International commented: “Our goal as a Mid-Cap fund manager is to further expand in the CEE region, where we have unparalleled experience in Poland, Hungary, Czechia and Romania. Under the Adventum QUARTUM fund which we recently launched we aim to deploy 250 million euro in the next 12 months in office and retail properties with special focus on Poland. We are glad to have undertaken the first such transaction with Peakside, a renowned fund manager.”

The Poznan Financial Center is located in the Stare Miasto district. Just on the outskirts of the historic city centre, it offers easy access to local amenities such as restaurants, cafés, shops or parks. Several bus and tram stations are in the immediate vicinity; the Poznan Glowny rail station is just over one kilometre away. Completed in 2001, the building was last refurbished between 2015 and 2018.

In the transaction, GreenbergTraurig advised the seller; BSWW, Value4Real, Zerafa Advocates and Deloitte the purchaser.

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Adventum Group, a group of boutique investment fund management companies focused on Central European real estate investments was founded in 2006 and is entirely owned by the management. It has been operating under the Alternative Investment Fund Managers Directive with fund management companies established in Valletta and Budapest, and a total AuM in excess of EUR 250 million. The Group’s personnel includes highly experienced real estate professionals with CFA, NRW and MRICS qualifications with a combined investment experience of 70+ years. The management has so far executed investments in the CEE region over a total value of EUR 1.5bn.

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Peakside Capital Advisors AG is a European investment manager which specialises in challenging real estate. The private-equity company manages assets worth over EUR 1.0bn on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from Core to Value-Add and Opportunistic. Peakside’s investment spectrum includes not only individual properties but also portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Warsaw, Prague and Luxembourg.

www.peakside.com

Media contact Adventum:

ÖRDÖGH Bálint
Communications Consultant
M. +36 20 3633 022
E.

Media contact Peakside:

Jürgen Herres
Partner
Feldhoff & Cie. GmbH
Eschersheimer Landstr. 55
60322 Frankfurt, Germany
phone: +49 69 2648677 240
mobile: +49 176 6073 8682

www.feldhoff-cie.de

Press release as PDF

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12. Juni 2019

press

Peakside Income Fund I

Peakside Income Fund I brings together the best in institutional real estate investment and management with future proof technology that will advent a new era of investing. The fund will invest in Germany, one of the safest and most liquid real estate markets.

Link to investment portal to follow shortly.

For further information please contact :

Please find the official Press Release below:

Peakside launches real estate fund via blockchain-powered platform ScalingFunds

  • Safe and secure investment in the German real estate market
  • Future-proofing investments by utilising blockchain technology
  • Peakside Income Fund I is the first real estate vehicle to launch on the platform

Luxembourg/Berlin, 12 June 2019 – Peakside Capital Advisors AG (Peakside), a European investment manager, and Brickblock Digital Services GmbH (Brickblock), a funds-as-a-service technology platform, have teamed up to launch the first real estate fund via blockchain platform ScalingFunds. The cooperation has the strategic goal to utilise blockchain technology as a toolbox to simplify and set up the future of real estate investment.

“We are looking to utilise the advances in digital technology to increase liquidity and transferability in the real estate fund sector as well as to broaden our investor base,” said Stefan Aumann, Founding Partner of Peakside. “We can now offer our institutional-quality investment products at smaller minimum investment sizes to qualified investors who would otherwise not have the opportunity to invest with us. On top, we strongly believe the underlying blockchain technology provides additional investor security.” The fund shares are registered on the immutable blockchain as well as in an offline register with SANNE, a leading global provider of alternative asset and corporate business services.

The first real estate investment vehicle on the platform, which was launched today, is the Peakside Income Fund 1. The vehicle has an equity target of EUR 200 million and a focus on core and core-plus office properties across first- and second-tier cities in Germany. Asset sizes will range between EUR 15 and 75 million, with a maximum leverage of 50%. Over the fund’s lifetime, it is expected that distributions (excluding sales proceeds) will average a stable 4%.

The fund is targeting qualified, including institutional, investors worldwide and has a minimum investment ticket size of EUR 125,000. Peakside will approach investors through a mix of direct communications as well as working with distribution partners and financial advisors.

“I see enormous potential in digitising fund management processes,” said Jakob Drzazga, Chief Executive Officer at Brickblock. “However, the real impact of our blockchain-powered platform is far greater than efficiency gains and cost effectiveness. The ability to trade fund shares almost instantly creates a new segment between open-end and closed-end funds.” The platform allows fund investors to subscribe, access investment documents and sign contracts online on a self-checkout basis. Further functionalities will be added over time. Examples could be a transfer to external exchange platforms or additional reporting options.

About Peakside

Peakside Capital Advisors AG specializes in precision investment management of real estate across Europe. The private-equity company manages assets worth over EUR 1.0bn on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from Core to Value-Add and Opportunistic. Peakside’s investment spectrum includes not only individual properties but also real estate portfolios and operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Warsaw, Prague and Luxembourg.

www.peakside.com

Media contact for Peakside:

Jürgen Herres
Partner
Feldhoff & Cie. GmbH
Eschersheimer Landstr. 55
60322 Frankfurt, Germany
phone: +49 69 2648677 240
mobile: +49 176 6073 8682

www.feldhoff-cie.de

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13. November 2018

press

Peakside and Madison sell Frankfurt Airport Center

The joint venture between the New York based investment company Madison International Realty (“Madison”) and the investment manager Peakside Capital AG (“Peakside”) has exchanged contracts for the sale of the shares in the office property Frankfurt Airport Center (“FAC”)

The shares are bought by a joint venture between Godewind Immobilien AG and ERWE Immobilien AG for approximately €168 million. The transaction which is structured as a share sale is expected to close by the end of this year.

The office property comprises a total rental space of around 48,000 sqm and 182 parking spaces and has a strong line up of tenants including Lufthansa, Fraport, Airport Club as well as several airlines and service providers. The asset is directly linked to terminal 1 of Frankfurt airport and located next to the ICE train station.

Peakside, which is responsible for the acquisition and the asset management, invested on behalf of the Peakside Real-Estate-Fund II (PREF II), while Madison made its investment through International Real Estate Liquidity Fund VI (MIRELF VI).

Along with the acquisition of the building from a UBS fund in September 2017 an extension of the fixed term of the leasehold with the airport operator Fraport AG for a further 30 years until 2090 was achieved. In addition, since acquisition new lease contracts for more than 10,000 sqm of office space have been concluded with new or existing tenants. As a result, the rental income for the building increased around 20% from around €8 million to around €10 million per year, while occupancy increased from 60% to 82%. Furthermore, the average lease term (WALT) has augmented to 6 years. An extensive planning and refurbishment program was launched providing redesigned new concepts for the public and rental spaces.

Boris Schran, managing partner of Peakside, commented: „Together with our local partners, my team could successfully finalize the asset management tasks shortly after the transfer of the property. This once more demonstrates the strengths in acquisition and implementation of Peakside. The asset now presents a long-term investment basis for the future owners.”

Matthias Cordier, Head of Investment Germany, Madison, added: „With our international team and our partner Peakside we could achieve the aims of our common business plan at an early stage. The positive course of this investment again underlines Madison’s strong track record in Germany.”

Company portraits

Peakside Capital (http://www.peakside.com) is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg.

Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments.

The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.

Madison International Realty (www.madisonint.com) is a leading liquidity provider to real estate investors worldwide. With approximately $3.8 billion AUM, Madison provides joint venture and preferred equity capital for real estate owners and investors that are looking to de-lever their properties; seek an exit strategy; or where existing sponsors seek to sell a portion of their ownership position. The firm provides equity for recapitalizations, partner buyouts and capital infusions; and acquires joint venture, limited partner and co-investment interests as principals. Madison invests only in secondary transactions and focuses solely on existing properties and portfolios in the U.S., U.K., and Western Europe. Madison has offices in New York, London and Frankfurt, Germany, where the firm operates under the name of Madison International Realty GmbH.

Press release as PDF

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29. Oktober 2018

press

PEAKSIDE COMPLETES FRANKFURT OFFICE PORTFOLIO ACQUISITION FOR PREF III

Press Release October 2018

PEAKSIDE COMPLETES FRANKFURT OFFICE PORTFOLIO ACQUISITION FOR PREF III

Peakside Capital, the independent, owner-operated real estate investment manager with offices in Frankfurt, Munich, Warsaw, Prague, Zug (CH) and Luxembourg, announces the acquisition of an office portfolio for its recently closed Peakside Real Estate Fund III (‘PREF III’) in collaboration with real estate funds managed/advised by LGT Capital Partners companies. The portfolio was acquired from a fund managed by HVB Immobilien AG with Berlin Hyp acting as finance partner. It consists of two office buildings in Frankfurt with c. 27,000 sqm of net lettable area across the assets.

The buildings have different investment profiles and will draw on the breadth and depth of Peakside’s asset management skills. The first property is Lyoner Strasse 20 in Frankfurt Niederrad which was built in 2003 and offers modern and flexible office accommodation with c. 14,000 sqm of net lettable space and an occupancy of c. 70%. Peakside plans to implement a focused leasing and asset management strategy to stabilise the asset in the increasingly dynamic Niederrad submarket.

The second property is located at Baseler Strasse 46-48/Gutleutstrasse 80-82 in the centre of Frankfurt, close to the main train station. The asset currently offers c. 13,000 sqm of net lettable space and is need of a substantial refurbishment. Multiple asset management strategies are being considered, including a partial hotel conversion, as well as refurbishing the remaining part of the building into a modern office building. Peakside is also reviewing the possibility of a new ground-up development.

These investments for PREF III follow the Fund’s recently announced closing, having reached the hard cap of €200m and providing a total investment capacity of around €650m. PREF III is Peakside’s latest German focussed fund, targeting value-add investments in strong locations across the country’s top seven cities and regional hubs.

Boris Schran, founding partner of Peakside Capital, said:

”This acquisition is right in our investment sweet spot as we are able to apply local knowledge together with our deep-rooted asset management skills. It follows on the heels of our successful final close of PREF III and shows to everyone that we continue to be able to source deals with an acute focus on delivering value to our clients.”

Note to Editors

Peakside Capital

Peakside Capital is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg.

Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments.

The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.

LGT Capital Partners

LGT Capital Partners is a leading alternative investment specialist with over USD 60 billion in assets under management and more than 500 institutional clients in 37 countries. An international team of over 450 professionals is responsible for managing a wide range of investment programs focusing on private markets, liquid alternatives and multi-asset class solutions. Headquartered in Pfaeffikon (SZ), Switzerland, the firm has offices in New York, Dublin, London, Paris, Vaduz, Dubai, Beijing, Hong Kong, Tokyo and

Press release as PDF

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25. September 2018

press

PEAKSIDE REACHES €200M HARD CAP WITH PREF III TO CAPTURE GERMAN VALUE-ADD OPPORTUNITIES

• €650m investment firepower for new Peakside Value Add Fund - PREF III

• Domestic and European investors attracted to German focus

Peakside Capital, the independent, owner-operated real estate private equity manager with offices in Frankfurt, Munich, Warsaw, Prague, Zug (CH) and Luxembourg, has successfully closed Peakside Real Estate Fund III (‘PREF III’ or the ‘Fund’), reaching the hard cap of €200m, and providing PREF III with a total investment capacity of around €650m. In addition, Peakside has secured co-investment commitments which will provide additional firepower for the Fund.

PREF III is Peakside’s latest German focussed fund targeting value-add investments in strong locations across the country’s top seven cities and regional hubs. As with its predecessor funds, it will acquire assets in good or developing micro locations at an attractive entry price.

The successful fund-raise of PREF III was supported by a number of European institutions, the majority of which have supported Peakside’s previous funds, as well as new institutional investors from Europe, including domestic German pension schemes and a large savings bank.

During the fund-raise period, Peakside deployed around a quarter of its initial capital commitments and has acquired 17 assets since Q2 2017. The investments total more than €150m and include office buildings in major German cities such as Berlin, Frankfurt, Stuttgart, Düsseldorf, as the well as the regional hubs of Hannover, Munster and Erlangen. Following the swift delivery of letting and asset management activities, a number of assets have already been sold at prices significantly exceeding underwriting expectations, with some individual IRRs in excess of 50%.

The initial investments demonstrate the ongoing strength of Peakside Capital’s team on the ground and its ability to source attractive investments in a very competitive environment. Peakside has acquired and managed over €3 billion of gross assets since the company’s formation in 2010 with a transaction volume of more than €590 Million on average per year during the last three years. As with previous funds, PREF III will transform properties that no longer meet current market demand or require substantial asset management and leasing activities to revitalise and reposition them to core assets. Value creation mainly stems from this hands-on asset management approach and the fact that Peakside has let more than 90,000m² on average per annum over the last few years. The Peakside team comprises 35 highly qualified and experienced professionals embedded in target markets in Germany and Central Eastern Europe (CEE) with complementary skill-sets, local market knowledge and many years of experience.

Boris Schran, founding partner of Peakside Capital, comments on the success:

”Peakside’s deep market knowledge continues to deliver good value-add opportunities and is a clear competitive advantage for us and our investors. We have a strong ongoing pipeline of investment opportunities and are looking forward to dialling up our activity as we deploy the proceeds from this successful raise.”

Stefan Aumann, founding partner of Peakside Capital, added:

“This most recent fundraising with support from both existing and new investors is a clear endorsement of our track record and the success of our German focussed strategy.”

Note to Editors

Peakside Capital is a specialist European Investment Manager, owned by its management. It manages real estate assets currently totalling over EUR 1 billion in gross asset value with a focus on CEE and Germany. The company has offices in Frankfurt, Munich, Zug (CH), Warsaw, Prague and Luxembourg.

Peakside Capital provides fund management and investment advisory services for managed portfolios that include its four real estate funds and a significant number of separate account investments.

The investment strategies it pursues serve the individual requirements of its investors, and range from core to opportunistic across the office, residential, hotel and retail sectors. The investment spectrum comprises investments in single assets and portfolios through to distressed debt and investments in real estate operating companies.

Press release as PDF

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