News

1. Juni 2021

news

Equity commitments for Peakside’s PREF IV fund rise over past four months to more than EUR 280 million

  • After second closing, PREF IV placements now over 80% of target size
  • Despite pandemic, strong interest from both existing and new investors
  • Deal pipeline further expanded, exclusivity agreed on two projects

Frankfurt, 1 June 2021 – Peakside Capital Advisors AG (“Peakside”) has, in a second closing round, locked in more than EUR 120 million of additional equity commitments for its Peakside Real Estate Fund IV (PREF IV). This now brings the placement rate to over 80 per cent of the fund’s target size within less than four months of launch, despite the continuing market impact of the COVID-19 pandemic. The fresh capital commitments are primarily from a sovereign wealth fund and Europe-based institutional investors and family offices, including existing investor relationships as well as clients new to Peakside. This second closing brings the PREF IV fund’s equity commitments already to more than EUR 280 million out of a planned target size of EUR 350 million.

The focus of the fund, which strives for a target annual IRR of 15 per cent, is on German real estate investments impacted by pricing dislocations and opportunities with value-add potential within a price range between €30 million and €150 million per investment. The fund actively pursues a variety of asset classes, including logistics and light industrial as well as office and residential. In addition, Peakside sees particular opportunity right now in property conversions, especially in the sectors hardest hit by the COVID-19 crisis, such as from hotel to residential or office, from retail to office, or even conversions to “last mile” logistics. Since the fund’s inception, the deal pipeline has been expanded and exclusivity now agreed on a second property.

“The first transaction closings are planned for the second half of 2021, and the project pipeline continues to grow,” explains Boris Schran, Managing Partner at Peakside, “We assume that managers like us who are close to both the market and property users, who can make quick decisions and react flexibly and purposefully to rapidly changing requirements, and who are able to create value through active asset management will, as in previous market cycles, be among the major beneficiaries.”
“We are very pleased that some 80 per cent of the PREF IV fund has already been placed within such a short time, despite the continuing impact of the COVID-19 pandemic on the market environment,” says Stefan Aumann, Managing Partner at Peakside. “We are also seeing a clear increase in confidence on the leasing side.
Following the temporary market paralysis upon the onset of the crisis in the early part of last year, there was initially a phase of uncertainty and reluctance to commit to new lease agreements or long-term lease extensions. More recently, however, we have been seeing a clear resurgence in demand on the tenant side and the return of confidence to the leasing markets.”

“The breadth and mix of investors who have now been expressing interest in our PREF IV fund validates our investment strategy and reflects the strong track record of our existing fund vehicles,” adds Frank Schäfer, Managing Director and Head of Business Development. “Not only have almost all of our established investing clients subscribed to the new fund following their positive experiences with our predecessor funds, we have also in recent months acquired mostly new equity investors who never before invested through Peakside.”
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About Peakside

Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.1 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.
www.peakside.com
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Press contact:

Jürgen Herres Feldhoff & Cie. GmbH

phone: +49 69 2648677 240

mobile: +49 176 6073 8682

www.feldhoff-cie.de

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19. Februar 2021

press

Peakside and Partners Group sell office property in Hamburg to May & Co.

  • asset from the Omega portfolio
  • several attractive offers in the off-market transaction
  • May & Co. to redevelop the property over the mid-term

Hamburg/Frankfurt, 19 February 2021 – A joint venture between investment manager Peakside Capital Advisors AG („Peakside“) and the global private markets investment manager Partners Group (“Partners Group”) has sold the Spaldingstrasse 77-79 office and commercial property in Hamburg to May & Co. The asset is part of the so-called Omega portfolio, the largest part of which Peakside and Partners Group secured for their clients about a year ago. It encompasses 30 office and logistics properties in large German cities as well as in France and the Netherlands.

The plot in Hamburg’s City South borders the Münzviertel quarter and is within walking distance to the central train and bus stations. The property offers around 9,000 m² of GLA as well as 140 spaces in an underground car park and is utilised by a mix of occupiers. The buyer is planning to redevelop the asset over the mid-term. Maximilian May, Managing Director of May & Co., says: “After the City itself, City South is the most favoured office location in Hamburg. Over the past years, a number of commercial and residential developments have increased the attractiveness of the micro location. We are planning to take advantage of that trend.”

May & Co. prevailed against several competitors in the off-market transaction. Simon Lutz, Partner at Peakside, says: „We received decidedly positive market feedback on the property. The offers were all very attractive, supporting the intrinsic value of the assets in the Omega portfolio and our decision to acquire it at the time.”

The parties agreed not to disclose the purchase price. HauckSchuchardt advised the seller. No brokers were involved in the transaction, which was structured as a share deal.

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About Partners Group

Partners Group is a leading global private markets investment manager. Since 1996, the firm has invested over USD 145 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. Partners Group is a committed, responsible investor and aims to create broad stakeholder impact through its active ownership and development of growing businesses, attractive real estate and essential infrastructure. With over USD 109 billion in assets under management as of 31 December 2020, Partners Group serves a broad range of institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.

About Peakside

Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.1 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.

www.peakside.com

About May & Co.

May & Co., founded in 1983, is an owner-managed project developer, investor and landlord of commercial real estate. The current project pipeline encompasses 223,000 m² of office, logistics and large-scale retail space. For existing properties, the company follows a manage-to-core strategy.

www.may-co.de

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Media contact Peakside:

Media contact May & Co.

Jürgen Herres

Maximilian May

Feldhoff & Cie. GmbH

May & Co.

Grüneburgweg 14

Esplanade 41

60322 Frankfurt am Main

20354 Hamburg

T: +49 69 2648677 240

T: +49 40 740770501

M: +49 176 6073 8682

E:

peakside spaldingstrasse hamburg c peakside
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8. Februar 2021

news

Peakside raises €160 million equity for PREF IV fund in first closing

  • Target & hard cap of €350 million
  • Focus on distressed and value-add investments in Germany
  • Strong deal pipeline

Frankfurt, 8. Februar 2021 – Peakside Capital Advisors AG („Peakside“) has raised €160 million in equity in the first close of the Peakside Real Estate Fund IV (PREF IV), which corresponds to 80 percent of the equity base of the predecessor fund. The capital stems from institutional investors and family offices across Europe.

Overall, Peakside plans to raise around €350 million of equity for a total investment volume including debt of up to €900 million for PREF IV. Target IRR is set at 15 percent net p.a. The focus of the fund lies on German real estate investments impacted by pricing dislocations and opportunities with value-add potential within a price range of between €30 million and €150 million per investment.

Stefan Aumann, Managing Partner at Peakside, says: “We are especially proud that almost all investors of the predecessor fund PREF III have also committed to the first close of the fourth iteration. Returns in both funds II and III are significantly above expectations, affirming the trust the investors put in our products.”

Frank Schäfer, Managing Director and Head of Business Development, adds: “With PREF IV, we will continue our successful active value-add strategies. As the first in the series, the fund meets the German 'real estate quota' criteria. Together with the advancement of our sustainability strategy, we are thus systematically expanding our investor base.” Peakside had signed the UN Principles for Responsible Investment (UNPRI) last year.

Only in January, Peakside announced the sale of a commercial building in Berlin’s Steglitz district, the last property from the so-called “Theodor portfolio”, from PREF III. Since then, another asset in Frankfurt was divested, marking the fourth successful sale of the total of six investments in PREF III.

Strong pipeline and additional opportunities in the second half of the year

For PREF IV, one asset is already under exclusivity and further acquisitions are in the pipeline. Peakside expects more investment opportunities from the current crisis to surface in the second half of 2021.

Boris Schran, Managing Partner at Peakside, says: “In the current environment, we are of course specifically looking at investments in the logistics and residential sectors. At the same time, we are expecting several opportunities coming out of market distortions in the wake of the COVID-19 pandemic, particularly in the retail and hotel sectors, and specifically for assets which lend themselves to conversion into office or residential use. Failed auctions or project developments with additional (re-)financing needs also offer attractive opportunities. Despite the increase of people working from home, we still believe in office as an asset class. Our pipeline is broad and filled accordingly.”

The company itself came through the past year quite well. Boris Schran comments: „Of course transaction and leasing processes have slowed down also for us. But at the same time, we experienced a strong resilience in our tenant base.”

About Peakside

Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets and has in total acquired assets worth EUR 4.1 billion. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.

www.peakside.com

Press Contact:

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

www.feldhoff-cie.de

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22. Oktober 2020

press

Peakside signs Principles for Responsible Investment

  • Reaffirmed and visible commitment to integration of ESG criteria in investment decisions and company policies
  • Improvement to risk-return management

Frankfurt, 22 October 2020 – Peakside Capital Advisors AG (“Peakside”), the Frankfurt-based real estate fund manager, has formally signed the UN Principles for Responsible Investment (UNPRI). Through this action, Peakside has reaffirmed its commitment to the inclusion of environmental, social and corporate governance criteria (ESG) in its processes for investment analysis and decision-making as well as in its guiding corporate policies.

“We feel an obligation, both to our clients and to society, to invest responsibly,” says Frank Schäfer, Managing Director and Head of Business Development at Peakside. “Experience has also shown that the inclusion of ESG criteria can serve as a competitive advantage in attracting tenants and optimize the values of our assets at exit. By joining as a signatory to the UN Principles for Responsible Investment, we have formally and visibly reaffirmed our commitment.”

"ESG aspects are playing an increasingly important role in our investments," adds Boris Schran, Managing Partner at Peakside Capital, noting that just recently, in early October, the company completed the conversion to carbon-neutral energy sources of a large number of electricity and gas supply contracts for its existing portfolio of properties totalling more than 300,000 m².

UN Principles for Responsible Investment

The Principles for Responsible Investment have their origins in an investor initiative founded in 2006 and supported by the United Nations. The UNPRI provides a critical framework for examining the impact of ESG factors on investments and provides support to its international network of signatories in incorporating these factors into their investment and ownership decisions. UNPRI is focused on the long-term interests of its signatories, the financial markets and economies in which they operate, and the well-being of the environment and society as a whole. The Principles were originally developed in 2005 by a group of investors and external consultants. Since the initiative’s launch in 2006, the number of signatories has grown from 100 to more than 3,000.

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About Peakside

Peakside Capital Advisors AG is a European investment manager. The private-equity company manages assets worth over EUR 1.4 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from core to value-add and opportunistic investments in commercial and residential assets. Peakside’s investment spectrum includes single properties, developments as well as portfolios, distressed debt and real estate operating companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.

www.peakside.com

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Press contact:

Jürgen Herres
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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21. April 2020

press

Hendrik Martin Wüsten is new Senior Investment Manager at Peakside

  • Extension of deal sourcing and asset management capacities
  • Expansion and diversification of institutional business
  • Business prospects remain positive

Frankfurt, 21 April 2020 - Peakside Capital Advisors AG ("Peakside") has appointed Hendrik Martin Wüsten as Senior Investment Manager. The new Principal is part of the Acquisitions and Asset Management team since1 April 2020.

Before joining Peakside, Hendrik Martin Wüsten worked for more than four years as Senior Transaction Manager at DIC Asset AG in Frankfurt. During this time, the 40-year-old was responsible for transactions with a total volume of around EUR 900 million in the retail and office property sector. From 2012 to 2015, the real estate economist (IREBS) was responsible for 21 commercial portfolios with a total value of around EUR 500 million as Team Leader Retail Asset Management and Transaction Manager at GE Capital Real Estate. Further stages in his career include Lohnbach Investment Partners and NAI apollo.

Boris Schran, Founding Partner of Peakside Capital, says: "Hendrik Wüsten is an experienced real estate professional who will ideally enhance both our deal sourcing and asset management capabilities. We look forward to working with him to develop and diversify our institutional business."

Only at the beginning of the year, Peakside appointed Frank Schäfer as Managing Director and Head of Business Development to further expand its institutional business and product range. The company, so far mainly active in the value-add and opportunistic risk classes, plans to further expand these segments and to increase the range of core/core+ investments. In addition to individual investment solutions for national and international institutional investors, plans for 2020 include the continuation of the successful PREF value-add fund series and individual mandates in the core/core + segment.

Stefan Aumann, Founding Partner of Peakside, says: "We remain confident in our business despite the impact that the COVID-19 pandemic will have on the economy. This is due in part to our solidly positioned and diversified portfolio, and in part to the extensive divestments and profit-taking that we were able to realise before the pandemic. In addition, we expect market opportunities from the current market distortions, especially in terms of financing.”

About Peakside

Peakside Capital Advisors AG is a European investment manager, managing assets worth over EUR 1.5 billion on behalf of institutional investors. Peakside implements differentiated investment strategies tailored to specific investor needs, ranging from Core to Value-Add and Opportunistic for commercial and residential properties. Peakside’s investment spectrum includes project developments and existing real estate, single properties, portfolios, distressed debt and real estate companies. The firm employs a team of more than 30 professionals in its offices in Frankfurt, Zug, Warsaw, Prague and Luxembourg.

www.peakside.com

Media contact:

Jürgen Herres
Partner
Feldhoff & Cie. GmbH
WestendCarre
Grüneburgweg 14
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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