Commodus also buying outside of primary markets
Commodus intends to acquire office property for €200mn to €300mn in 2019. Secondary markets from 100,000 residents will now also be considered, after the owner-managed investment company was previously active only in primary markets. They now plan to spend up to €100mn per transaction in the Big 7 and large high-growth cities in the Rhein-Main region and southern Germany. Last year, the Munich-based firm bought €200mn worth of real estate and currently holds assets with a total value of more than €500mn. The Spezial-AIF “Commodus Deutschland Fund II” that was launched in October was closed at the end of last year and now operates under the name “Commodus Deutschland Fund I Annex”. It was followed in January by Luxembourg fund Commodus Deutschland Fund II SCSp, RAIF, which will be buying Core+ and value add commercial properties for €400mn.
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