- Aim of the agreement is the repositioning of Residential Real Estate
- AuM increase to EUR 2.2 billion
- Another well-known mandate in addition to PFA
The real estate and investment company Domicil Real Estate AG has received the asset management mandate for 300 residential units from ZAR Real Estate Holding, a developer and investor for real estate projects. The subject of the agreement is commercial and technical asset management. ZAR Real Estate Holding is a fully integrated developer and investor for real estate projects and portfolios operating throughout Germany.
"The apartments in Remscheid were built between 1950 and 1970 and could be significantly upgraded through extensive modernization," explains Andreas Friedrich, Managing Director of Domicil Real Estate AG. "One of our goals is to bring the portfolio up to a good ESG standard, especially to improve energy efficiency and residential quality."
"We want to grow further in the area of asset management for third parties. In addition to our mandate for the Danish pension fund PFA, we were able to convince another renowned company of our service portfolio with ZAR Real Estate," explains Klaus Schmitt, CEO of Domicil.
Specifically, Domicil and ZAR want to reduce the vacancy rate of the residential units and bring about an increase in value and revitalization of the portfolio properties by implementing selective ESG and refurbishment measures.
With the new mandate, Domicil now has a total of EUR 2.2 billion in assets under management. This includes both the company's own portfolio, investments, and management mandates for third parties.