The Frankfurt Asset and Property Manager GPEP GmbH (GPEP) has established a joint venture with Geneva-based Private Wealth Manager GMG Real Estate (GMG) to source and deliver development projects in Germany. The aim of the JV is to create partnerships with experienced local project developers to collaborate on larger deals (volume of EUR 25m. and more), including acquisitions of existing properties or land for development or realignment, with planning approval. Start-up capital of 100 million euros is available for investments into office, logistics, budget hotels and housing including co-living and student accommodation in stable locations throughout Germany.
The joint venture partners complement each other perfectly: GPEP has an extensive network in Germany as well as acquisition, management and exit expertise; and GMG has a strong track record of project developments across Europe and access to substantial capital.
For GPEP, the joint venture is a logical extension of its business model, expanding its capabilities into the development sector and diverse asset classes. For GMG, which intends to expand its activities in Germany, the joint venture provides access to GPEP’s German network and considerable market knowledge as well as ongoing management capabilities.
A dedicated team of development professionals is established in Frankfurt to respond to all enquiries in a timely manner.
“We see attractive market opportunities in project development to work with local experts on larger, more complex projects with substantial equity requirements. Enquiries from propertyowners, developers and development professionals who may need backing for such projects are welcomed”, explains Marcel Fuhr, Managing Director of GPEP.
“We are very excited to be working with such a well-established team as GPEP to expand our development activities in Germany”, says Newman Leech, Managing Director of GMG Real Estate.
