15. März 2022

news

Peakside Capital & Partners Group join forces to aid refugees from Ukraine

Together with Partners Group, we have provided over 2.400 m² of warehousing space in the City Point Targówek logistics park in Warsaw to the Mazovian branch of the Polish Red Cross. The organization is coordinating the delivery of relief supplies for refugees from #Ukraine. Further space at the location will be made available so that capacities are doubled.

Roman Skowronski, based in our Warsaw office, comments: “We all see the tragedy across our eastern border. We want to support the aid activities to help Ukrainians as much as we can. That is why we have decided to donate warehousing space for use by Polski Czerwony Krzyż. While food and clothes are coming in, the Red Cross needed a place to store, pack and efficiently transfer the supplies to refugees.”

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11. März 2022

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Peakside leases 6,400 sqm in Wiesbaden to the Federal Statistical Office

We are welcoming the Federal Statistical Office of Germany, Destatis as a new tenant in one of our office buildings in Wiesbaden’s Erbenheim district. Destatis is expanding its presence in the capital of the Federal State of Hesse and will move some 150 employees to the 6,400 m² location this month. Together with our asset manager Marienburg Real Estate, we renovated and refurbished the office ensemble with a combined 13,000 m² of space across two properties.

Thanks go out to the team at Colliers Germany which brokered the lease.

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16. Februar 2022

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Partners Group and Peakside acquire 150,000 sq.m. logistics opportunity in Warsaw, Poland

16 February 2022 - A joint venture (“JV”) between Partners Group, a leading global private markets firm, acting on behalf of its clients (“Partners Group”), and investment manager Peakside Capital Advisors AG (“Peakside”) with a group of additional third-party co-investors has acquired a portfolio of warehouse properties. The purchase price is not being disclosed.

The portfolio is located in and around Warsaw and will represent approx. 150,000 sq.m. of modern logistics space once repositioned. The JV is planning to refurbish and redevelop the properties to create high-quality, efficient logistics and warehouse space with robust ESG credentials. The facilities are ideally located to serve the needs of occupiers from the e-commerce sector, which is underpinned by strong structural tailwinds. The JV aims to grow the new platform by acquiring further logistics assets for sustainable (re-)development.

Rahul Ghai, Managing Director and Co-Head Private Real Estate Europe at Partners Group, said: “We see a strong thematic investing opportunity in Polish warehouse properties, which is underpinned by the growing demand for urban logistics assets serving e-commerce that facilitate the delivery of smaller and more fragmented orders with shorter delivery times."

Lucas Krupp, Private Real Estate Europe at Partners Group, adds: "We look forward to working on our value creation plan, which will focus on raising sustainability standards across the portfolio. We also continue to monitor for further investments in the logistics space across the CEE region.”

Roman Skowroński, Managing Director of Peakside Capital Advisors in Poland, said: “Some time ago, we made the decision to expand our business model in Poland, setting out to build a portfolio of warehouse and industrial properties. The acquisition of this portfolio marks our first step into the broader industrial market in Poland to complement our other activities in Europe.”

Once redeveloped, partly densified and upgraded, the three sites will have a total GLA of nearly 150,000 sq.m. The assets will be rebranded and include

  • City Point Targówek, a logistics park at 14 Matuszewska Street in the Warsaw district of Targówek
  • Logistics Point Raszyn, a logistics park at 10 Sokołowska Street in Raszyn
  • Logistics Point Piaseczno, a facility at 13 Raszyńska Street in Piaseczno

Peakside will be responsible for the asset management and development of the properties.

Construction work on the City Point Targówek is about to start. The existing buildings will be demolished to create a modern, highly sustainable, multi-tenant logistics park. All new facilities are to receive BREEAM excellent certifications. The park is located only 9 km from Warsaw’s city centre, making it a destination of choice for parcel service providers and other occupiers seeking urban logistics space. It will feature small business units, space to accommodate light production, built-to-suit facilities and modern office space. The park will be re-developed over several stages to offer 90,000 sq.m. of space upon completion.

Works to refurbish the existing buildings at Logistics Point Piaseczno and Logistics Point Raszyn are slated for a later date. Logistics Point Raszyn offers two warehouses with a combined GLA of 31,000 sq.m. It is conveniently located near an exit of the S8 expressway, just 15 km south-west of Warsaw city centre. Logistics Point Piaseczno will be expanded to provide 25,000 sq.m. of GLA in two facilities. The park is located close to national road 79 and the Nowa Iwiczna railway station, only 16 km south from the capital’s centre.

In the transaction, the JV was advised by lawyers Marta Bijak-Haiduk, Jan Bagatela, Konrad Bisiorek, Dominik Górski and Dominika Sulak-Seyfried. Other advisory services were provided by Deloitte, Gleeds and JLL.

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About Partners Group

Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to 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 Capital Advisors

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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Media contact:

Jürgen Herres
Feldhoff & Cie. GmbH
Phone: +49 69 2648677 240
Mobile: +49 176 6073 8682
jh@feldhoff-cie.de
www.feldhoff-cie.de

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10. Februar 2022

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Peakside acquires Frankfurt office for PREF IV fund

Zug, 10 February 2022 – Peakside Capital Advisors AG („Peakside“) has acquired a 5,400 sq.m. office in Frankfurt for the recently closed Peakside Real Estate Fund IV (PREF IV). PATRIZIA is the seller of the property in the Westend-Nord district. The parties agreed not to disclose the purchase price.

The nine-storey building at Friedrichstrasse 2-6 was originally constructed in 1968 and last refurbished in 2020/2021. The occupancy rate is 96 percent with a weighted average lease term of 2.3 years. The property also includes 35 parking spaces.

Simon Lutz, Partner at Peakside, says: “The asset has been well maintained and requires limited upfront investment. The opportunity lies in bringing rents to market levels and the establishment of a high-quality office brand tailored to the submarket’s demand.”

The micro location benefits from good transport, public and social infrastructure and a sustained office demand. It is located in a vibrant mixed neighbourhood between Goethe University and the Old Opera House. Underground stations Grüneburgweg and Holzhausenstrasse are within walking distance.

The office serves as the initial investment of the PREF IV fund which Peakside closed after only eleven months of fundraising at close to €415m of equity. Frank Schäfer, Managing Director and Head of Business Development at Peakside, comments: “Due to the massive interest by investors, we raised the original hard cap target by 20 percent but still could not satisfy the full demand for subscriptions. With this initial transaction we are well placed to perpetuate the excellent performance of the PREF fund series and merit the trust our investors have bestowed upon the strategy.”

At a planned LTV of 60 percent, the fund will invest in real estate worth around €1.2bn across all asset classes in Germany, with a focus on properties which are affected by pricing dislocations, “stranded” in sales processes, have additional (re-)financing needs and on assets with value-add or conversion potential. Ticket size will range from between €30m to €200m.

Boris Schran, Managing Partner at Peakside, sees amble product for the PREF IV fund coming to market: “In an ESG-driven ‘work-out’, property owners are currently sorting their portfolio into different clusters, ranging from already sustainable assets via those they want to retain and refurbish themselves to the ones for sale. Most of the latter hold great value-add potential. The main reason why they are put up for sale at all is a lack of in-house capacity to tackle all assets within a relatively short timeframe. This creates opportunity for us and our investors.”

In the transaction, Peakside was advised by HauckSchuchardt (legal & tax) and KVL (technical due diligence & ESG). GSK (legal & tax) and Case (technical due diligence) advised PATRIZIA. Colliers International brokered the deal.

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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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Media contact:

Jürgen Herres
Feldhoff & Cie. GmbH
Phone: +49 69 2648677 240
Mobile: +49 176 6073 8682
jh@feldhoff-cie.de
www.feldhoff-cie.de

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19. Januar 2022

news

Peakside: PREF IV Fund to invest up to EUR 1.2 bn – Fund raising completed after only eleven months

Zug, 19 January 2022 – At close to €415m of equity commitments, the Peakside Real Estate Fund IV (PREF IV), advised by Peakside Capital Advisors AG („Peakside“), closed capital raising earlier than planned. The fund was significantly oversubscribed after only eleven months of fundraising. Due to the massive interest by existing as well as new clients, the initial hard cap of €350m was raised by almost 20 percent. The full demand for subscriptions could still not be satisfied. Compared to its predecessor fund, the equity base of PREF IV has more than doubled. Peakside additionally noted binding commitments of co-investment capital in the double-digit million euro range. The capital mainly stems from institutional investors, sovereign wealth funds and family offices from Europe and the Middle East.

With a target debt ratio of around 60 percent, PREF IV will invest in real estate worth over €1.2bn. The focus lies on German properties which are affected by pricing dislocations, “stranded” in sales processes, have additional (re-)financing needs and on assets with value-add or conversion potential. That means the entire spectrum of asset classes is under consideration. Ticket size ranges between €30m and €200m. One acquisition for the fund has already been signed. Closing of the transaction is planned at the beginning of 2022.

Boris Schran, Managing Partner of Peakside, says: “Thanks to the strong team around Simon Lutz, the deal pipeline is well filled, and the fund already has several assets under exclusivity. We are close to the market and occupiers and thus especially looking at investment opportunities in logistics and residential. But we are also seeing several inroads into retail and hotel opportunities we can recommend to the fund, with a particular interest in assets that can be converted into office or residential use. We are confident that the fund will be closing further transactions within the first half of 2022.”

Stefan Aumann, Managing Partner at Peakside, says: “After its first closing in February last year, PREF IV was fully placed with investors within only eleven months – and that despite the COVID-19 pandemic. The speed with which that happened was indeed faster than we anticipated. Interest was enormous.”

Frank Schäfer, Managing Director and Head of Business Development at Peakside, adds: “Apart from the commitments of almost all our existing clients, we are proud to have attracted a large number of new investors for the fund. This is a testament to the excellent performance of the predecessor funds as well as the market penetration we have reached as Peakside at this stage.”

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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
jh@feldhoff-cie.de
www.feldhoff-cie.de

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