Ampega restructuring sees fresh focus on residential, Fachmarktzentren

The Cologne-based Ampega, the fund management and real estate subsidiary of Germany's third-largest insurance group Talanx, is clearly on a major expansion drive across a number of growth real estate sectors.

Ampega plans to invest about €200m in building up a portfolio of "supply-oriented retail properties" with the help of Bergisch-Gladbach based fund initiator the Hahn Group, which normally specialises in large-scale retail properties. The focus will be on grocery-anchored retail parks, a sector which has been a clear winner since the onset of the COVID pandemic. Closing on the first asset in northern Germany is underway.

As part of the partnership, Hahn will handle property search, property inspection and strategy as well as any development work needed on the acquired properties.

According to Djam Mohebbi-Ahari, managing director of Ampega Real Estate, "Retail properties that serve local supply will continue to be relevant and indispensable for the population in the future. They have stable visitor frequencies, tenants with strong credit ratings and a very attractive risk-return profile. With Hahn Group, we have gained a partner who has specialised in this asset class for four decades and has excellent access to the market."

Ampega recently re-structured its real estate interests, as part of which the previously independent Ampega Real Estate was integrated into Ampega Asset Management. Mr. Mohebbi-Ahari said the restructuring would lead to a rise in the weighting given to real estate, while steering away from classical retail and new office investment. "The focus of our activities will be more towards residential, logistics, Fachmarktzentren (grocery-anchored retail), and the development of mixed-use quarters.

On the residential front Ampega, in a joint venture with d.i.i. investments, recently bought 806 apartments from Patrizia as part of a sale of 1,336 apartment units across 16 separate properties in eight different cities, totalling about 54,000 sqm. 

As the wealth manager within the Talanx group, Ampega manages about €160bn (31st December 2020), of which about €18.5bn is managed on behalf of third parties. Investments include infrastructure projects such as wind farms and solar energy, as well as real estate.