The investment and asset managers Hamburg Trust and GalCap Europe, which are based in Hamburg and Vienna, have agreed on a long-term, exclusive cooperation concerning the acquisition and management of residential real estate in Austria.
GalCap Europe will assume property sourcing, transaction management and asset management tasks for Hamburg Trust’s residential real estate funds in Austria. An investment volume of hundreds of millions of Euros is envisaged with a focus on Vienna, complemented by appealing state capitals like Graz and Linz. The first purchases are about to be completed. Both existing properties already in use and project developments (forward deals) worth in excess of 10 million Euros are eligible for investment purposes.
“Thanks to the partnership with GalCap, we are now in a position to offer our institutional investors residential real estate not only in Germany, but also in Austria’s similarly steady market with the domiciliumINVEST fund series,“ remarks Dr. Georg Reul, Chief Executive Officer with Hamburg Trust.
According to Dr. Manfred Wiltschnigg, Managing Partner with GalCap Europe, the cooperation bears great potential. “GalCap is firmly rooted in Austria. Our local presence, our market know-how and, last but not least, our elaborate network allow us to consistently generate good investment opportunities. Together with Hamburg Trust, we will use these for the benefit of institutional investors.“
GalCap Europe was founded by Dr. Manfred Wiltschnigg, Marco Kohla and Paul W. Hallam in 2015. The company has since developed to become an established specialized investment and asset manager for Austria and the Central and Eastern Europe (CEE) region. In addition to German pension funds and insurance companies, its clients also include family offices and Anglo-Saxon private equity funds, on whose behalf GalCap Europe acts as a local partner in the region.