Kintyre approaches €500m under management in Germany

The Frankfurt-headquartered real estate investor and asset manager Kintyre Investments said it increased its assets under management increased by 37% last year, with 82 individual assets and a gross lettable area of 302,000 sqm. The total AUM at year-end was €488m.

Adam Pearce, partner at Kintyre Investments, commented on a good year: “2015 enabled us to achieve the planned expansion of our property and centre management businesses in a balanced manner, enabling us to better provide our clients and partners with a full integrated management model”.

Notable was the completion of 30 lease contracts over the year, for more than 29,000 sqm of retail space, said Pearce. On investments, Kintyre transacted a volume of €103m for the twelve-month period, as joint venture co-investment partners.

Highlights included the acquisition of the 55,000 sqm Markisches Zentrum in Reinickendorf in Berlin in November, with a gross development value of more than €100m. Kintyre also co-invested with AEW Europe in a €56-3m eight-asset retail portfolio, as part of a €150m opportunistic buying programme on behalf of a US institutional investor. The company also opened a third German office, in Berlin, to complement its offices in Frankfurt and Oberhausen, and boosted staff from 10 to 24 members.