28. Februar 2020
Peakside increases transaction and leasing volume to record levels in 2019
- Transaction volume close to 1.2 billion euros
- Leasing volume at highest level since company foundation
- New fund product planned for 2020
Frankfurt, 28 February 2020 – Investment manager Peakside Capital Advisors AG ("Peakside"), which specialises in value creation in commercial real estate, reports significant growth for the 2019 financial year. The transaction volume in Europe rose to an all-time high of almost EUR 1.2 billion. In the current year, the company intends to bolster that growth through further acquisitions and the launch of a new fund.
2018 record exceeded once again
By the end of 2019, Peakside had completed acquisitions of properties encompassing around 400,000 sqm. of GLA. The company also used the positive market environment for strategic sales with a total volume of over EUR 290 million. The number of leases signed is also at a record level: The investment manager has concluded contracts for over 110,000 sqm. of rental space – an increase of around 44 percent compared to 2018.
The expansion of the real estate portfolio is mainly due to the purchase of properties from the so-called Omega portfolio. As part of the transaction, Peakside had acquired a total of 27 office and three logistics properties in major German cities as well as three properties in Paris and Amsterdam. In terms of letting activities, the "Altes Fernmeldeamt" property in Hamburg stood out as the largest single deal. In this property, which is adjacent to the Von-Melle-Park campus belonging to the University of Hamburg, the Science Authority of the Hanseatic city has rented more than 50,000 sq.m. for a duration of 30 years. Users are the two Leibniz Institutes GIGA (German Institute of Global and Area Studies) and ZBW (Leibniz Information Centre for Economics) as well as the University of Hamburg.
"In 2019, we were able to clearly surpass the record result of the previous year once again," says Boris Schran, founding partner of Peakside. "Competition is becoming increasingly intense due to a general shortage of product. Last year’s result demonstrates our ability to realise investments with a high potential for value enhancement for our investors even in tight market situations."
On the product side, Peakside also continued to grow in 2019. Only around 18 months after successful placement, the "Peakside Real Estate Funds III (PREF III)" fund is almost fully invested.
Liquidity reserves for further growth
For Boris Schran, the high level of investor confidence in Peakside is also reflected in high cash inflows: "We currently have liquidity reserves for purchases of around 150 million euros. This allows us to react flexibly and quickly to potential investment opportunities."
"This year, we also want to continue to grow with a new fund. The target volume is around EUR 350 million. The investment focus will be on German commercial properties with value-add potential, a strategy that we have already been able to implement very successfully with PREF II and III," added Stefan Aumann, founding partner of 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.
Feldhoff & Cie. GmbH
Eschersheimer Landstr. 55
60322 Frankfurt, Germany
Tel: +49 69 2648677 240
Mobil: +49 176 6073 8682