Fondshaus Hamburg and HOCHTIEF Solutions launch new real estate investment company
Structuring expertise combined with improved access to real estate
Issuing house Fondshaus Hamburg—a member of the Ahrenkiel Group—and Essen-based HOCHTIEF Solutions AG have jointly launched a new real estate investment company. The two owners each hold a 50 percent stake. As they both announced in Hamburg today, the new company, FHH Fondshaus Hamburg Immobilien (FHHI), will commence operations in the fourth quarter of 2012. Its core business will consist of issuing closed-end real estate funds and, in the medium-term future, structuring investments for institutional investors. FHHI will operate autonomously on the market as a joint venture of the Ahrenkiel Group and HOCHTIEF Solutions AG and has been set up for the purpose with a share capital of EUR 2 million. Fondshaus Hamburg will entrust administration of existing and future closed-end real estate funds to the new company together with asset and funds management. Incorporation of the new company is pending regulatory approval.
“We are pleased to be the first issuer of closed-end funds to join forces with the Real Estate Solutions segment of HOCHTIEF Solutions as partners on equal terms,” explains Angelika Kunath, Managing Director of Fondshaus Hamburg. “By teaming up in this way with the subsidiary of a highly reputable, MDAX-listed international player, we have made a key step on the road to becoming an integrated real estate company from being a pure-play funds issuer.” The new structure further enhances Fondshaus Hamburg’s scope for securing real estate projects at a very early stage of development. Expansion of key account business will, of course, also continue, Kunath said. In this connection, the future Managing Director of FHHI emphasizes the need for absolute freedom in product selection: “We will continue to apply clearly defined investment criteria here as we always have in the past and, now as before, we will continue to work exclusively with experienced, sound real estate developers.”
“We made a conscious decision in favor of Fondshaus Hamburg because we find the company’s outstanding structuring expertise and marketing capability compelling. We expect to gain an attractive share in the financial rewards and access to new customers,” says Dr. Christoph Husmann, Senior Executive Vice President of the Real Estate Solutions segment at HOCHTIEF Solutions AG, in explanation of the decision. The segment, with its two business units HTP and formart, currently has 80 projects in progress worth a total of over EUR 1.9 billion.
Fondshaus Hamburg Immobilien will initially have a workforce of about 20, growing to 27 in the medium term. HOCHTIEF Solutions will nominate a second managing director alongside Angelika Kunath during the course of the year.
Fondshaus Hamburg focuses exclusively on the conceptualization of closed-end real estate and shipping funds. Established in 2001, the unlisted issuing house has since issued 48 closed-end funds. By 2011, just under 16,000 investors had invested some EUR 694 million (excluding premiums) in Fondshaus Hamburg funds, making for a total sum invested of approximately EUR 1.5 billion (excluding premiums). In 2012, Fondshaus Hamburg secured the immobilienmanager.AWARD in the Investment 2012 category. Fondshaus Hamburg garnered the FERI EuroRating Award in the national real estate category in 2010. The main shareholder in Fondshaus Hamburg is Ahrenkiel, Hamburg, a major shipping company steeped in tradition.
HOCHTIEF Solutions consolidates the core business of the HOCHTIEF Group in Europe and in selected regions worldwide. The company plans, develops, builds, operates and manages real estate and infrastructure facilities. HOCHTIEF Solutions is the management company of the Group’s Europe division which employed some 15,000 people around the globe in fiscal 2011. In many regions and segments, the company is a market and innovation leader.
Head of Communications Real Estate Solutions
HOCHTIEF Solutions AG
Tel.: +49 201 824-2282
Fax:+49 201 824-1728
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