Optimum and Blackstone to co-manage €800m German real estate portfolio | News

Optimum Asset Management and Blackstone have teamed up to invest and manage a German real estate portfolio valued at EUR 800 million, which is owned by a fund established 10 years ago.

The joint venture will enable investors in the 2011 Optimum Evolution Fund SIF – Property II to exit the portfolio or stay in the portfolio.

Blackstone and Optimum plan to invest more capital to expand the portfolio, which currently comprises 30 assets, mainly in Berlin.

Blackstone previously invested in the fund through Strategic Partners’ secondaries business in 2018, but the new joint venture includes its direct real estate arm.

Alberto Matta, founder and managing partner of Optimum, said: “We have achieved attractive returns from this high-quality portfolio since it was founded, which underlines the strength of the German real estate market and the expertise of our team.

“We are excited to partner with Blackstone and firmly believe in the continuing prospects for this portfolio, which has been built using our granular approach.

“We attach particular importance to procuring the right assets and managing them correctly. Blackstone’s commitment is a confirmation of the German real estate market, this portfolio and Optimum. “

James Seppala, Head of Real Estate Europe at Blacktone, said: “We are impressed by the exceptional portfolio that Optimum has built and believe in the long-term growth of the German real estate market.

“We recognize Optimum’s ability to identify unrealized potential in real estate assets, take value-adding management initiatives, and ultimately create sizeable, high-quality real estate portfolios.

“The combination with the size and resources of Blackstone offers our collective investors a unique opportunity and exposure to the German real estate market.”