Yesterday publity announced that it will partner with Meritz Financial Group (Meritz) and IGIS Asset Management (IGIS). The companies will invest a high three-digit million amount during the next 18 months into publity real estate portfolio with a focus on office properties.
Meritz Financial Group is a South Korean company providing various financial services including insurance and financing products as well as investment consulting and asset management. IGIS Asset management is the largest Korean real estate asset manager with a total asset under management exceeding $14bn as at Q217 – the last available data.
Following the strategic decision to develop publity Investor GmbH as its own investment vehicle acquiring attractive office real estate located in the largest German cities, publity invested €20m in the entity to initiate the portfolio building process. Together with Meritz and IGIS, it has recently acquired an office property in Frankfurt at the beginning of April 2019 and the transaction volume stood at €130m.
The companies plan further investment, which should accelerate significantly thanks to publity’s market expertise assisted by Meritz and IGIS financing capabilities.
Author: Milosz Papst