BNPP REIM takes on €600m German insurer mandate

Real estate asset manager BNPP REIM will take on a €600m Spezialfonds mandate for German insurer Gothaer Konzern.

The portfolio is set to consist of eurozone commercial real estate excluding Germany, with individual investments ranging from €20m to €80m, including predominatly Core and Core+.

Christof Kessler, board member in charge of investment at Gothaer Asset Management comments: Gothaer focuses increasingly on real estate with an emphasis on renewable energy. In the medium term, we aim to increase our real estate exposure to 10%. The new Europe portfolio will enable us to further diversify and expand our real estate investments whilst increasing the overall returns of our real estate holdings.”

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