Berlin- and Munich-based private equity investor Commodus plans to allocate €400 million to office and mixed-use property acquisitions this year.
The company said that in addition to German cities Berlin, Munich and Hamburg, Madrid, Paris and London have been target markets since 2020.
“In 2021, we want to invest a further €400 million in mixed-use properties, and urban developments, in line with our active asset management strategy,” Commodus managing director Leonhard Sachsenhauser said.
Commodus made its first investment outside Germany last year. In March 2020, it bought a 4,000 sq m office asset in Madrid’s Atocha district and in September acquired an office building in Paris (pictured above) which is scheduled for comprehensive refurbishment.
The company acquired properties worth around €350 million in 2020 and its property portfolio now stands at more than €1.5 billion AUM, predominantly invested in closed-end special funds and, since 2019, in a RAIF.