Zurich, 9 October 2018 – Through a fund launched by Universal-Investment, SIGNA Financial Services AG (SFS), part of the SIGNA Group, is going to invest for Bayerische Versorgungskammer (BVK) in Austrian properties including their long-term management. SFS had been able to win the mandate by tender. With more than 72 billion Euros, BVK’s managed assets render the group one of the most notable institutional investors in Germany. The investment strategy of the fund is to develop a portfolio of residential and commercial property in Austria with a total volume of around one billion euros.
The fund’s first step is to acquire four residential projects in three locations around Vienna from SIGNA’s development portfolio. The portfolio encompasses a total rental space of around 56,000 m² with more than 900 units of top-quality rented accommodation. All objects are characterised by their stunning architecture, top location and excellent public transport links. Currently, all four projects are under construction and will be handed over to the fund after completion, starting with the first-class housing complex “5in22” in Donaustadt which is expected to be transferred to the fund in October 2018. Completion of the other three developments is scheduled for 2020: In mid-2020, the projects ”Donaumarina 1 and 2“ near the local recreational area Prater and the Vienna University of Economics and Business will be handed over. By the end of 2020, the initial portfolio is due to be completed which will include the high-rise apartment block “Wohnen am Schweizergarten”, directly adjacent to the new Vienna Central Station.
Further to this, the fund will invest in more residential objects and in commercial property, particularly office buildings and retail properties. Another option, apart from SIGNA property projects, are project developments or existing objects that can be acquired from the general market.
SIGNA Group is an industrial holding group, enterprising and privately managed in the units Real Estate and Retail. With real estate assets of more than 14 billion euros and an additional development volume of around 8 billion euros, the group is one of Europe’s most notable property investors. Around 45,000 staff and more than 7 billion Euros revenue help the running of well-known trading companies.* The group is made up of two core business units, SIGNA Real Estate and SIGNA Retail. The Zurich-based SIGNA Financial Services AG was established in 2008 and presents itself as key service provider within the SIGNA Group, responsible for all Capital Market Instruments and Fundraising, namely traditional debt financing, corporate bonds and Permanent Capital Acquisition.
* The completion of the transaction is still subject to agreement from the relevant competition authority.
More info at www.signa.at
ABOUT BAYERISCHE VERSORGUNGSKAMMER
Bayerische Versorgungskammer is Germany’s largest public-sector care group and a centre for services and expertise for occupational and communal pension schemes. BVK manages the business affairs of twelve legally independent, occupational and communal retirement funds, comprising a total of 2.2 million insured persons and pension recipients, about 4.6 billion euros Premium and apportionment income per annum, and circa 3.3 billion euros annual annuity payments. Currently, the total capital investment volume for all utilities is about 72 billion euros (book value). Bayerische Versorgungskammer employs more than 1,200 staff. In 2010, it signed the Diversity Charta (Charta der Vielfalt) and in 2011, the Principles for Responsible Investment (PRI), followed by the memorandum for women in management positions (MFF) in 2017.
More info at www.versorgungskammer.de
Universal-Investment is the largest independent investment trust in German speaking countries, with around 400 billion euros of managed assets in own vehicles, some 80 billion euros in Insourcing among other things, well over 1,100 public and special fund mandates and around 650 employees. The main focus of the company is on the management of efficient and risk-oriented funds, bonds, alternative investments and property. Universal-Investment Group, established in 1968 and based in Frankfurt/Main, is together with its subsidiaries and associates in Luxembourg and Austria one of the pioneers in the investment sector and the current market leader in the units Master-KVG and Private-Label-Funds. According to PwC 2018 ManCo Survey, Universal-Investment is not only the largest AIFM but also the biggest Third-Party-ManCo. in Luxembourg. (as of: 31 August 2018).
More info at www.universal-investment.com