Ivanhoé Cambridge, the real estate arm of the Caisse de dépôt et placement du Québec, is acquiring a strategic equity stake in German real estate vehicle, Golden Capital.
Focusing on manage-to-core office investments, Golden’s portfolio consists of 39 properties in major German cities. The vehicle is run by asset manager, Lianeo Real Estate.
“This investment marks the return of Ivanhoé Cambridge in Germany, a strategic market for us,” said Karim Habra, head of Europe and Asia-Pacific at Ivanhoé Cambridge, in a press release. “We were convinced by the quality and the value-creation potential of Golden Capital’s underlying assets as well as Lianeo’s asset management expertise. We look forward to growing this platform and generating superior long-term performance.”
The investment from Ivanhoé Cambridge is intended to contribute to the quality of the portfolio by both asset re-positioning and new acquisitions in the largest cities in Germany, the release noted.
The financial terms of the transaction were not disclosed.