Munich, 26. September 2025 – Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialized partner for investments in commercial real estate, has once again acquired a property for a professional pension fund. Pier 81 is a multi-tenant office complex in Hamburg with a total of approximately 8,500 sqm of rental space. The seller is Generali Real Estate SPA acting on behalf of Generali Deutschland Versicherung AG.

Pier 81 is located in the popular City Süd district of Hamburg, which, in addition to its central location, also offers excellent local and long-distance transport connections. The main tenant is Arbeiter Samariter Bund Sozialeinrichtungen (Hamburg) GmbH. The property has seven above-ground floors, a two-story large garage, and its own boat dock with access from the water.

Montano plans to fully exploit the value-add potential of Pier 81 through strategic repositioning and redevelopment. The most important measures include:

• Reducing vacancy rates through marketing and new leasing

• Modernization and upgrading by improving the exterior appearance of the property as well as the entrance and lobby areas

• Sustainability measures to improve the property's environmental performance

"We are very pleased to have acquired the property together with a renowned German institutional investor with whom we have enjoyed a trusting working relationship for many years. Pier 81 offers significant value-added potential, which we have already identified and will implement through targeted measures. Building on our many years of experience in the successful repositioning and optimization of commercial real estate, we plan to increase its value sustainably," said Hossein Gharany, Director Investment at Montano.

"We have been successfully implementing value-add investments for international clients for many years, and in addition to Pier 81, we have already completed several attractive transactions in the current year. We are planning further investments in the value-add segment and also in our other target segments, such as the public sector and critical infrastructure," added Samson Weldemariam, Managing Partner at Montano.

Montano received legal advice from GÖRG, technical advice from CBRE, and tax advice from WTS in this transaction. The seller received legal and tax advice from Mayer Brown. JLL brokered the transaction.

Munich, September 10, 2025 – Montano Real Estate ("Montano"), investment partner and asset manager in the German real estate market, has acquired on behalf of Beyond Real Estate Holding ("Beyond"), a private equity firm specialising in fixed-income real estate investments, the office property Station West in Mainz. This fifth acquisition underscores the successful partnership between Beyond and Montano. The property was acquired from Principal Asset Management®.

Station West is located in a prime spot directly opposite Mainz Central Station and offers a total rental area of approximately 12,500 sq m. The property features a diversified tenant mix with partial long-term lease agreements. On the one hand, the asset provides attractive current cash flow through mid-term leases, including tenants from the public sector. On the other hand, it offers value enhancement potential through tenant structure optimisation and targeted ESG and capital expenditure initiatives.

"With the acquisition of Station West, we are strengthening our commitment to the German market. The property perfectly matches our investment criteria: a central location, a high-quality tenant base with institutional occupiers and significant value-add potential. Especially in a challenging market environment, the value of our partnership with Montano becomes clear. We are pleased to continue this successful collaboration with our fifth joint transaction and see further growth potential in similar investments," said Tzach Yanir, CEO of Beyond Real Estate Holding.

"With the acquisition of Station West, we have once again secured an asset with an attractive risk-return profile for Beyond," added Samson Weldemariam, Managing Partner at Montano. "This investment is a great strategic fit for our client, offering a central location, strong tenant creditworthiness and clear value-add opportunities. Our creative deal sourcing and asset management expertise enable us to deliver attractive returns for our clients, even in a demanding market environment."

Montano is a venture partner for Beyond through continuous market monitoring and an established network. The selective acquisition of assets and the active management and development of real estate portfolios are based on years of experience. Long-standing relationships with investors and tenants, along with in-depth knowledge of lease management and renewals, contribute to portfolio stability and value growth.

Advisors on this transaction included Noerr (legal), Cumming Group (technical), Fair Audit (tax) and Tauw (environmental). The deal was brokered by JLL and financed by Volksbank Darmstadt Mainz.

Further potential investments are already under review.

Munich, July 17, 2025 - Montano Real Estate GmbH ("Montano," www.montano.eu), a highly specialized partner for investments in commercial real estate, looks back on a dynamic first half of 2025. The transaction market was increasingly buoyant and offered attractive opportunities for further acquisitions.

"As expected, the gap between sellers' asking prices and the current yield requirements of institutional investors is beginning to close. This creates new opportunities for targeted investments in our core strategies," said Samson Weldemariam, Managing Partner at Montano.

"Our active asset management is also proving effective in a challenging market environment. At the same time, we see 2025 as an opportunity to further develop the portfolio in a targeted manner through transformative investments," adds Julius Falcinelli, Co-Head of Asset Management.

Highlights

Transactions with a total volume of EUR 68 million

Together with Beyond Real Estate Holdings, several attractive acquisitions were made in the first half of the year. The acquisition of the "iTaun" office complex in Munich with around 23,000 sqm of rental space, which is leased to BMW AG on a long-term basis, was particularly noteworthy. With a further transaction, the joint portfolio of Montano and Beyond Real Estate now stands at EUR 175 million. In January 2025, Montano acquired a training and administration complex in Duisburg with around 5,500 sqm of lettable space on a 9,200 sqm site. Further acquisitions are in final negotiations and will be completed in the second half of 2025.

In addition, in the second half of the year, Montano will enter the value-add segment in partnership with a renowned German institutional investor - an area in which the company already has extensive experience. The first transaction has already been secured and will mark the start of this new venture. The objective of the new investment program is to strategically enhance properties with development potential - for example, through repositioning, structural optimization, or ESG-compliant retrofitting - and to realize sustainable value creation.

Montano is also in discussions regarding further projects in the public sector and critical infrastructure.

Assets under Management

As of June 30, 2025, Montano managed assets worth a total of EUR 1.9 billion -an increase of EUR 150 million compared to the previous year. The total managed spaces amounted to around 710,000 sqm. Despite a weakening rental market, a letting volume of 28,000 sqm was achieved, more than twice as much as in the previous half-year (13,000 sqm). The logistics segment performed particularly well with a share of 62 percent, but significant leasing successes were also achieved in the office sector through active asset management. A prime example is the repositioned office property Kokkola in the Ratingen submarket of Düsseldorf, where a letting rate of more than 70 percent of the rental space was achieved within six months of the anchor tenant moving out.

Corporate management

The management team was expanded in a targeted manner in the first half of the year.

Jan Abel joins Montano as the new Co-Head of Asset Management. With his many years of professional and management experience, he brings valuable expertise to the further development of asset management activities. In addition, René Sellner, an internationally renowned fund specialist, has been recruited. He will play a key role in driving forward the further development of the fund business with national and international investors. The implementation of an operational management structure under the leadership of Managing Partner Samson Weldemariam is also proceeding according to plan.

Montano is sticking to its focused growth strategy for the current 2025 financial year. Through its market network and local presence, it will target opportunities that require active asset management and enable long-term value appreciation.

Munich, 18. June 2025 – Montano Real Estate (Montano), an investment partner and asset manager in the German real estate market, has acquired for Beyond Real Estate Holding ("Beyond"), a private equity firm specialized in fixed-income real estate investments, another attractive single-tenant property in Munich. The successful transaction continues the productive partnership between Beyond and Montano that spans over a decade, during which Montano has identified and secured special market opportunities in the commercial real estate sector for Beyond's ownership portfolio.

The Taunusstraße 41 ("iTaun") office complex in Munich has a rentable area of around 23,000 square meters (gross floor area) and 256 parking spaces, including 163 underground parking spaces. The single tenant is BMW AG.

The property was acquired as part of an asset deal; the seller is HIH Invest Real Estate.

The iTaun is a four-storey Core Plus property that was built in 1972 and completely renovated and extended in 2011/12. It has versatile floor plans and above-average ceilings (approx. 3.60 to 4.80 meters), which are used for research & development and a canteen on the first floor. There are offices on the upper floors, which can also be flexibly converted to other types of use in the future.

The building is located in the northern Munich district of Milbertshofen, in the immediate vicinity of the Frankfurter Ring. The micro-location is part of a long-term urban development and will become more attractive in the future. The nearest subway station can be reached on foot in nine minutes, the main railway station by subway in 21 minutes. The A9 freeway to Nuremberg is only five minutes away by car.

For this acquisition, Montano has led the transaction process on behalf of Beyond as the owner, coordinating advisors including Noerr Partnerschaftsgesellschaft mbB (legal), Cumming Germany (technical), TAUW (environmental) and FAIR AUDIT (tax).

"We are pleased to have identified and secured this attractive property for Beyond's ownership portfolio," says Director Finance & Investment Katharina Weigl from Montano. "As their investment and asset manager, we look forward to maximizing the potential of this investment for Beyond. The Bavarian capital of Munich is an extremely attractive location for office properties and real estate in the life sciences sector thanks to its good infrastructure and several large companies and key industries based here."

Munich, 14 May 2025 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialized partner for investments in commercial real estate, has appointed René Sellner as its new Head of Fund Management. As of May 1, 2025, he has overall responsibility for the management of existing funds and individual mandates. He will also be responsible for managing and further expanding business activities with institutional clients.

"We are delighted to have gained René Sellner, an accomplished and excellently networked expert, for our fund management team," says Ramin Rabeian, co-founder and Managing Partner of Montano. "With his many years of experience in customer service, sales and fund structuring, he will play a central role in the further development of our fund products and continue to drive our growth in the institutional sector."

René Sellner previously worked in Munich, New York and London at GLL Real Estate Partners and Macquarie Asset Management, where he served clients from Germany, Europe and Asia. Most recently, he worked as a sales specialist at PATRIZIA SE.

"I am very much looking forward to the new challenge and working with the dedicated team at Montano," says Sellner. "In addition to providing targeted support to our institutional clients, I am keen to take responsibility for ongoing funds and projects. Particularly in the current market situation, I see great potential for jointly tapping into new opportunities and further developing existing products."

With the "Public Sector Fund I" launched in spring 2022, Montano is currently focusing in particular on investments in core real estate with state or state-related users. These include administrative, educational and healthcare facilities as well as infrastructure properties in the energy and transportation sectors. The attractiveness of this segment stems from the long-term rental structure with creditworthy public sector tenants.

Munich, February 20, 2024 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialized partner for investments in commercial real estate, is strengthening its Asset Management division: Since February 1, 2025, Jan Abel has joined the team as the new Co-Head of Asset Management

"We are very proud to have gained Jan Abel, a proven expert in the field of asset management," says Julius Falcinelli, also Co-Head Asset Management. "With his extensive expertise and leadership experience, he will help to position Montano as number one for active real estate management."

Jan Abel has been Branch Manager/Head of Branch Office in Munich at Branicks Group AG since October 2021. Prior to that, the graduate economic geographer with an additional qualification as an International Real Estate Manager (MBA) had been Head of Asset/Property Management at R&S Immobilien Management for two years. Other positions include the Bayerische Hausbau Group and CT Real Estate Partners.

"I am very much looking forward to the new role and the future collaboration with my co-head Julius Falcinelli," says Abel. "Together, we want to further strengthen the outstanding reputation that Montano's highly skilled and dedicated asset management team enjoys in the industry. In addition to the optimal management of our funds and joint venture properties, we also want to acquire attractive mandates for active real estate management.”

Active asset management is a core pillar of Montano's business strategy. Last year, the company actively managed assets with a total volume of around EUR 1.8 billion. The total lettable space amounted to around 660,000 sqm. Thanks to the high reputation of the asset management team, Montano was able to take on new asset management mandates with a total volume of over EUR 300 million last year.

Munich, January 24, 2025 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialized partner for investments in commercial real estate, made significant progress and successfully completed important transactions in the past financial year 2024 despite a persistently difficult market environment.

"The year 2024 was the third year of crisis characterized by uncertainty. The vulnerability of the German economy and the changes in the political environment have intensified the existing problems in the real estate sector due to rising interest rates and construction costs," explains Ramin Rabeian, founder and Managing Partner of Montano. "The focus of many investors has changed," adds Sebastian Schöberl, also founder and Managing Partner of Montano. "Instead of investing in broadly, the focus today is on niche markets and selective projects with a clear, convincing investment story. This is also reflected in the transaction volume realized by Montano."

The highlights of the past financial year:

• Transactions with a total volume of EUR 100 million: Montano successfully completed transactions with a total volume of EUR 100 million in the 2024 financial year: In Hamburg, the company acquired an office and retail building with around 5,700 sqm of rental space for a German professional pension fund. In Mönchengladbach, an office building with around 18,700 sqm of space was acquired together with Beyond Real Estate and a training and administration complex in Duisburg with around 5,500 sqm of space was acquired for the Montano Public Sector Fund I. Several transactions originally planned for Q4 were delayed due to challenging market conditions and are expected to contribute to a strong start in 2025.

• Assets under management: As of 31 December 2024, Montano actively managed assets totaling €1.8 billion - EUR 100 million above the previous year's level - with a total lettable area of approximately 660,000 sqm. Despite a further weakening rental market, the letting volume of 73,000 sqm was slightly above the previous year's figure (68,000 sqm) and reflects the strength of our asset management team. Thanks to its strong reputation, Montano also secured new asset management mandates worth over €300 million in 2024.

In September, there was a change in the shareholder structure of Montano: after three and a half years of successful cooperation, TTL Beteiligungs- und Grundbesitz-AG left as a co-shareholder. TTL's shares were taken over by the two company founders and managing directors Ramin Rabeian and Sebastian Schöberl. In addition, Samson Weldemariam - Head of Investment and involved in Montano's success story from the very beginning - joined the circle of partners and was appointed as the third Managing Director.

Montano's strategy will remain straight and focused in the current financial year 2025: The company is planning further selective investments in the public sector and social infrastructure as well as value-add acquisitions in the logistics and food retail segments. If the conditions are favorable, Montano will also capitalize on opportunities to acquire non-ESG-compliant or stranded office properties, modernize them, and reposition them in the market.

Munich, January 16, 2025 - Montano Real Estate GmbH (“Montano”, www.montano.eu), a highly specialized partner for investments in commercial real estate, has appointed Samson Weldemariam to the Management Board. Samson Weldemariam has been with Montano since 2013 and will join the management team as the third Managing Partner alongside the founders Ramin Rabeian and Sebastian Schöberl. Since 2016, he has been responsible for all acquisitions and sales as Head of Investment, including landmark transactions such as Uptown Munich and the House of Lifelong Learning in Dreieich. He thus played a role key role in building Montano into one of the leading independent real estate investment and asset management companies in the German commercial real estate market.

“We are very pleased to welcome Samson to the management team and as a shareholder, strengthening our company for further growth. Samson has helped shape Montano's successful development from the very beginning and has continuously taken on more responsibility over the years,” said Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate. ”We have been working together very successfully for over ten years and have great trust and respect for each other. Together with our team of real estate experts, we are ideally positioned for the further successful development of the company,“ adds Sebastian Schöberl, also co-founder and Managing Partner of Montano Real Estate.

“I am very excited to continue shaping the future of the company and to take on even more operational responsibility. Many thanks to Ramin, Sebastian and the whole team for the great collaboration so far and here's to many more successful years,” says Samson Weldemariam.

Munich, January 7, 2025 – Montano Real Estate GmbH (“Montano”, www.montano.eu), a highly specialized partner for investments in commercial real estate, has acquired another attractive property for the Montano Public Sector Fund I. The training and administration complex in Duisburg has around 5,500 square meters of leasable space on a 9,200 square meter site, which is mainly used as a parking lot for up to 260 vehicles. The property is leased to the Duisburg Study Institute until 2034. The lease is indexed annually to protect its value. The purchase is part of an asset deal.

“We are very pleased that we have been able to successfully close another deal in Duisburg,” says Hossein Gharany, Director Investment. ”The building provides stable rental income, paid by a state tenant with a strong credit rating. And the prospects for the further development of the property are very good: all districts of Duisburg currently lack secondary schools, and primary schools have also reached their capacity limit. The demand for suitable rentable buildings and developable land is correspondingly high.”

Core property with excellent transport links connection

The property is located in the southern Duisburg district of Großenbaum. Both the city centers of Duisburg and Düsseldorf and Düsseldorf Airport can be reached quickly from the building: the “Duisburg Großenbaum” S-Bahn station is less than a two-minute walk away, and the access to the A59 motorway is only about 850 meters away. In addition to a few restaurants and bakeries, there are also a few supermarkets in the immediate vicinity. The training building itself was built in 2002 and modernized in 2023/2024 as part of tenant improvements. The building has five floors (ground floor + four upper floors) with a total leasable area of approx. 5,500 sqm. The generously sized property of approx. 9,200 sqm includes 260 parking spaces. The ground floor houses the foyer, a kitchen and bistro area, as well as administrative and storage areas. The four floors above this level include training rooms (ground floor to second floor) and office space (third and fourth floors). The fifth floor houses the building services.

Investments in public social infrastructure as a safe haven

Investments in public social infrastructure in Germany are attractive. Investors pay particular attention to properties and projects that are essential to maintaining important social functions. These include properties for administration, healthcare and education, but also transport networks and energy supply facilities. The Montano Public Sector Fund was launched in spring 2022 and focuses on core real estate with public or quasi-public sector tenants, i.e. tenants with very good credit ratings and an interest in long-term leases. Investments in this segment have proven to be a safe haven for institutional investors, especially in times of highly volatile markets.

“As an active asset manager and investor, Montano is interested in increasing the value of the properties entrusted to us, as well as our own,” says Samson Weldemariam, Head of Investment. ”Targeted ESG and CapEx measures offer significant potential for this, especially for existing properties. Investments in modern building technology and attractive interior and exterior spaces should also ensure that the property becomes more sustainable on the one hand and remains attractive for tenants on the other, thus achieving a stable rent in the long term.”

Montano was advised by McDermott Will & Emery, albrings+müller and Colliers on the transaction. The seller was advised by vitura.

Munich, 10 September 2024 - TTL Beteiligungs- und Grundbesitz-AG (“TTL”) is withdrawing as a co-shareholder of Montano Real Estate GmbH (“Montano”, www.montano.eu), a highly specialized partner for investments in commercial real estate. After three and a half years of successful cooperation, the two company founders and managing directors Ramin Rabeian and Sebastian Schöberl will take over TTL’s 50 percent shareholding on September 10, 2024 and now hold 100 percent of the shares in their company again.

“TTL’s investment three and a half years ago was the right step at the right time. The TTL investment served to broaden the positioning and accelerate the growth of our company – something we have achieved in recent years,” says Montano co-founder and Managing Partner Ramin Rabeian. “We have benefited in particular from TTL’s expertise in financing and supporting projects and have repeatedly been able to successfully conclude deals even in an adverse market environment. We are very grateful for this.”

TTL acquired a 30 percent stake in Montano (then still Montano Asset Management GmbH) in December 2020. The investment was made through the acquisition of shares from the holdings of the two company founders Ramin Rabeian and Sebastian Schöberl and the subscription of a capital increase. In May 2021, TTL increased its stake to a total of 50 percent.

“We are now taking the next step,” adds Montano co-founder and Managing Partner Sebastian Schöberl. “We have a solid financial foundation, a highly motivated, very experienced team and professional structures. The acquisition of the TTL shares gives us flexibility and new freedom. This makes us stronger than before.”

Munich, 17 July 2024 - Montano Real Estate GmbH (“Montano”, www.montano.eu), a highly specialized partner for investments in commercial real estate, has added another attractive property to its joint commercial real estate portfolio with Beyond Real Estate. The property was acquired as part of an asset deal from a real estate company listed on the New York Stock Exchange. The office complex at Madrider Strasse 1 (“MASTRA”) in Mönchengladbach has a lettable area of around 18,700 square meters and 389 parking spaces, spread across an underground car park and outdoor parking spaces. The sole tenant is Santander Consumer Bank.

Built in 2015, the core property consists of four building sections and is located in Mönchengladbach’s Nordpark district, in the immediate vicinity of the Borussia-Park soccer stadium. Several bus stops in the vicinity ensure excellent public transport connections.

The Nordpark was used as a British military base until 1998. Following the takeover and privatization of the site by the city of Mönchengladbach, regional and international companies with a total of more than 5,000 jobs have settled there.

“With the acquisition of MASTRA, we were once again successful together with Beyond,” says Katharina Weigl, Director Debt Finance & Investment at Montano. “With its location in the economically strong Rhine-Ruhr region, Mönchengladbach is an attractive location for office properties. The creditworthy tenant Santander Consumer Bank secures us a stable long-term cash flow.”

“With MASTRA, we have repeatedly shown that it is possible to make attractive transactions even in this challenging market environment,” says Samson Weldemariam, Head of Investment at Montano Real Estate. “We are still actively looking for interesting properties and have a very solid financial basis to take advantage of the opportunities that arise.”

Montano will be responsible for asset management in the future. Montano and Beyond were advised on the transaction by Noerr and technically by Kroll. CBRE brokered the transaction.

Munich, 8 April 2024 - Montano Real Estate GmbH (“Montano”, www.montano.eu), a highly specialised partner for investments in commercial real estate, acquired another attractive office and retail building for a German professional pension fund. On behalf of a client, the asset was acquired from Ofi Invest Real Estate.

The Dornbusch 2-4 property is located in the northern part of Hamburg’s old town, between Kleine Johannesstrasse and Pelzerstrasse in the town hall quarter. It comprises approx. 5,700 square meters of lettable space and two underground car parks with a total of 27 parking spaces. The property is fully let. The main tenant is the real estate company Quantum.

Built around 1960 and extended and modernised in 2006 and 2012, the buildings have seven (Dornbusch 4) and eight (Dornbusch 2) storeys including staggered storeys and roof terraces. The office fit-out is modern. The office spaces are in line with the “New Work concept” and also offer users wellbeing areas. The upper floors are used for offices, while the five commercial units on the ground floor are used for retail stores and restaurants. In addition to the underground car parks, the first basement floor offers 119 square meters of storage space, while the second basement floor offers a further 240 square meters of storage space.

Surrounded by Hamburg’s landmarks, the Dornbusch 2-4 ensemble is characterized by its excellent city center location. It is only a few steps to the town hall, the cathedral square, the Binnenalster or Hamburg’s shopping mile, Mönckebergstraße. There are five bus stops in the immediate vicinity of the building and the subway is also just a few meters away.

“We are delighted that we have been able to acquire another extremely attractive property for our client after the ´Haus am Staatstheater´ in Wiesbaden,” says Hossein Gharany, Director Investment at Montano Real Estate. “The houses at Dornbusch impress with their extremely central location in the heart of Hamburg city center, their very good building fabric, the flexible room concept and the modern furnishings.” Samson Weldemariam, Head of Investment, adds: “We successfully completed several transactions in 2023 in a challenging market environment and we will remain active in the current year and intend to make further acquisitions. The Dornbusch offers everything that is essential for a long-term investment: it is fully let, has a diversified tenant structure and already meets the high ESG standards.”

“This transaction, in a really difficult market, emphasizes the attractiveness of the Dornbusch asset which is part of a portfolio that was built up by Ofi Invest Real Estate, on behalf of its clients, very selectively and always with a strong focus on the location and the quality,” emphasizes Charles-Henri de la Chapelle, Head of Asset Management at Ofi Invest Real Estate SAS.

A pre-assessment for certification in accordance with the DGNB Gold Standard was carried out for the property in July 2023. Based on this, a concrete action plan was developed with which the property can be brought up to the DGNB Green Building Standard “DGNB Gold” through targeted investments.

POELLATH provided legal support for the transaction, WTS provided tax advice and Albrings + Müller provided technical advice and Colliers International Hamburg supported Montano in the commercial due diligence. Ofi Invest Real Estate was advised by BNP Paribas Real Estate, DLA Piper provided legal support, BWS provided tax advice and Drees & Sommer advised the seller on the technical part.

Munich, 15 February 2024 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialised partner for investments in commercial real estate, successfully completed transactions in all asset classes relevant to the company in the past 2023 financial year despite ongoing market turbulence. "The year 2023 has put the property sector in Germany under increasing pressure. High inflation led to a significant rise in interest rates and a sharp increase in the cost of construction. As a result, many construction projects were temporarily halted or even put on hold completely," says Montano founder and Managing Partner Ramin Rabeian. "I am all the more proud of the performance of our entire team. The fact that we have held our own in the commercial property market in our tenth year of existence despite these adverse conditions and have been able to identify attractive opportunities in all of the asset classes we actively manage and bring them to a successful conclusion is a great success."

Highlights of the past financial year

Transactions with a total volume of EUR 270 million, including one of the largest single transactions on the German commercial property market in 2023

Montano successfully completed a total of six transactions with a total volume of €270 million in the current financial year: In Wiesbaden, we acquired the office and commercial building "Haus am Staatstheater" with 6,000 sqm of space, in Erfurt, together with Beyond Real Estate, we acquired a multi-tenant commercial property with 23,700 sqm of space and were able to expand the logistics portfolio by 26,200 sqm of total space with two add-on acquisitions. We sold the two remaining properties of the KÖ-Campus in Eschborn with a total area of over 28,000 sqm. Some transactions planned for the fourth quarter were postponed until the new year due to the difficult market conditions.
With the acquisition of the "Haus des lebenslangen Lernens" education campus in Dreieich, Hesse, Montano successfully completed one of the largest transactions on the German commercial property market in 2023. Montano was shortlisted for the immobilienmanager Award 2024 for its innovative financing mechanism, which provided a high level of transaction security for both parties in a volatile interest rate environment thanks to an innovative sliding price clause.

Assets under management and letting successes

At EUR 1.7 billion, the assets actively managed by Montano in the past year were almost at the previous year's level. New or renewal agreements for 68,000 sqm of space were concluded with 32 tenants, including the new letting of the remaining vacant space in the Nassau-Carré in Idstein to the drugstore chain Rossmann and the organic food chain Denns. In the east of Munich, a long-term lease was signed with the Volkswagen subsidiary Volkswagen Original Teile Logistik GmbH & Co. KG for an attractive 13,090 sqm logistics hall.

Significant increase in value through active asset management

With the sale of the remaining two office buildings of the KÖ-Campus in Eschborn, which belongs to Investcorp, to the SCPI Eurovalys fund, Montano was once again able to demonstrate that active asset management has a positive effect on the increase in value of the respective property and its attractiveness for potential buyers. Right at the start of its involvement in 2018, Montano initiated the ecological transformation of the entire ensemble and reorganised it within five years. By the end of 2022, eight new, long-term office tenants were acquired for the KÖ-Campus and the office vacancy rate was completely eliminated.

Certified sustainability

Montano was awarded the DGNB Gold certificate last year for the five-storey Duisburg Central Office (DCO), which was completed in October 2022. The certificate is considered the most advanced in the world and is recognised as a "Global Benchmark for Sustainability".

Expansion of the logistics portfolio

Last year, the logistics portfolio was expanded by a total of 26,200 sqm of space as part of two add-on acquisitions.

Further equity commitments for the Montano Public Sector multi-investor special fund

Investments in core properties with state or state-related users continue to enjoy great popularity among German institutional investors. As a result, further equity commitments were received for the Montano Public Sector Fund in the past financial year. The Montano Public Sector Fund was launched in spring 2022 and focuses on core properties with state or quasi-state users. This asset class is particularly attractive, as government or quasi-government users are always tenants with very good credit ratings who are interested in long-term leases.

"Given the difficult market conditions, we can really be very satisfied with our performance last year," says Sebastian Schöberl, another Montano founder and Managing Partner. "In our Public Sector Fund, we are well positioned for further transactions with the money we have raised, and the continued high level of investor confidence in our active asset management underpins the focus of our strategy: we have been taking special care of existing properties for years, making them fit for the future with customised modernisation measures and thus increasing their value. As a basis for further growth in this area, we invested in the optimisation of our IT architecture and the expansion of our team last year."
For the current 2024 financial year, Montano is planning further selective investments as well as the expansion of the public sector portfolio and the "Social Infrastructure" investment division. In addition, Montano intends to take advantage of opportunities to acquire value-add properties and non-ESG-compliant and stranded office properties in order to reposition them in a new and environmentally friendly way. The retail and logistics portfolio is also to be further expanded.

Munich, 22 November 2023 - Montano Real Estate GmbH ("Montano", www.montano.eu), the highly specialized partner for investments in commercial real estate, has acquired an attractive office and commercial building for a German professional pension fund. The "Haus am Staatstheater" in Wiesbaden's city center has around 6,000 sqm of rentable space and 34 parking spaces. The main tenant is the state of Hesse. The parties have agreed not to disclose the purchase price.

The "Haus am Staatstheater" is located on the corner of Wilhelmstrasse and Burgstrasse and is part of an overall complex protected as a cultural monument: the Wiesbaden "Quellenviertel", also known as the "Sauerland". Built in 1962 and modernized in 2021, the building has five upper floors and an additional top floor with storage space in the building block along Wilhelmstrasse. The upper floors are used for offices and surgeries, while the six commercial units on the first floor are used exclusively by luxury retail stores. In addition to an underground garage with 20 parking spaces, there are also technical and storage areas in the basement.

The majority of Wiesbaden's hotspots are just a few minutes' walk from the building. The Hessian State Theater with its parks and green spaces is right on the doorstep, while Schlossplatz and the Hessian State Parliament are just a few minutes away. Lines 1, 8 and 16 provide users with public transport connections every five minutes and take around seven minutes to reach the main train station. Wilhelmstrasse is Wiesbaden's "luxury mile" and is historically characterized by a large number of boutiques and jewellers. The excellent infrastructure and numerous restaurants and cafés make the street one of the most attractive locations in the city.

"We are very pleased that we were able to acquire this excellently located property for our client. The office property market in Wiesbaden has seen successively rising rents in recent years and this is not the only reason why it is attractive: as the state capital of Hesse, Wiesbaden is a center for administration and services and the available office space is increasingly being rented by public authorities. Such tenants are generally interested in long-term contracts and there is only a very low risk of loss of rent. This promises investors secure long-term returns. We have already carried out an initial ESG Quick Check and developed a concrete action plan. The main aim of this is to reduce the building's energy and water consumption and thus increase its value," says Montano founder and Managing Partner Ramin Rabeian.

POELLATH provided legal and tax advice, while KROLL REAG was responsible for technical advice and environmental due diligence.

Munich, 3 November 2023 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialized partner for investments in commercial real estate, has added another attractive property to its commercial real estate portfolio together with Beyond Real Estate. The Weimarische Strasse 42-46 office complex in Erfurt has almost 23,700 sqm of leasable space and around 400 parking spaces. The cooperation with Beyond Real Estate was thus expanded to a portfolio worth over 400 million. Further investments in German commercial real estate are planned for the coming months.

The Core Plus property, built in 1994, is conveniently located southeast of the city center. The main train station with connection to the ICE rail network can be reached on foot in eight minutes, the Erfurt city center in 13 minutes. In the immediate vicinity there is also a commercial area with many well-known retail companies. The office building is completely leased on a long-term basis. The four tenants are mainly public sector companies, including Deutsche Bahn.

Montano and Beyond were advised on the transaction by Noerr and technically by ChandlerKBS.

"We are very pleased that we have once again succeeded in closing an attractive deal in an overall challenging environment," says Montano co-founder and Managing Partner Sebastian Schöberl. "Erfurt is a regionally important office market with growing demand for high-quality office workplaces and correspondingly rising rents. With the acquisition of the flexible office complex in Weimarische Straße, we want to benefit from this development. At the same time, as an active asset manager, we want to make the operation of the property more sustainable through modernization measures and significantly increase the value of our investment."

Munich, 26 October 2023 - Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialised partner for investments in commercial real estate, has been awarded the DGNB Gold certificate for its Duisburg Central Office (DCO) in Quartier 1. Completed in October 2022, the five-storey building in a central location close to the city centre is thus demonstrably sustainably built.

"From the very beginning, we have strived for DGNB Gold certification for the Duisburg Central Office and are very proud to have now received the award," says Julius Falcinelli, Head of Asset Management. "After all, the DGNB certificate is considered the most advanced worldwide and is recognised as the Global Benchmark for Sustainability. With the certification of the DCO, we are not only living up to our own claim to provide for more sustainability in the real estate sector, but also to the increasing desire of investors for climate-friendly construction."

About Duisburg Office Center (DCO)
The DCO is a five-storey core office building with a rental area of around 11,400 m2 and around 50 of its own underground parking spaces. It is located in the immediate vicinity of Duisburg's main railway station and has good public transport and motorway connections. The office space is predominantly designed as open-plan offices and offers cavity floors, an efficient ventilation system and heated/cooled ceiling sails. The property is fully let on a long-term lease to the financial services provider Consors Finanz, a subsidiary of BNP Paribas Bank.

About the DGNB system
In order to make sustainable building practically applicable, measurable and thus comparable, the DGNB developed its own certification system and launched it on the market in 2009. Within the framework of certification, DGNB consistently considers the entire life cycle of a project and evaluates the overall performance of a project instead of individual measures. The DGNB system is based on the three central sustainability areas of ecology, economy and socio-culture, which are equally weighted in the assessment. In the sense of a holistic approach, the DGNB system also evaluates the location as well as the technical and process-related quality. The DGNB system for new buildings currently comprises a total of 29 criteria from the six subject areas of ecological, economic, socio-cultural, technical, process and site quality, whereby not every criterion is relevant for every usage profile.

Munich, 4 October 2023 - Montano Real Estate GmbH ("Montano", www.montano.eu), the highly specialised partner for investments in commercial real estate, has acquired another attractive property. The "Haus des Lebenslangen Lernens" (HLL) education centre in Dreieich, Hesse, has 32,500 sqm of space as well as its own parking garage and is leased to the Offenbach district until 2038. The purchase price is just under 116 million euros. The seller is a fund of Corestate subsidiary Hannover Leasing.

"We are very pleased to have successfully closed another deal with the acquisition of the HLL Dreieich education campus. A ‚big thank you‘ to our team for pulling off this complex transaction in a highly professional manner," says Montano co-founder and Managing Partner Ramin Rabeian. "Social infrastructure - facilities and services that provide social care to our population - is an extremely important pillar of our society. We are proud to be able to contribute to this with the HLL." The HLL is very renowned as one of the largest school and flagship projects. There is a huge need for investment in education."

Campus HLL an important part of the public education infrastructure
With the highly acclaimed education project „Haus des Lebenslangen Lernens, Campus Dreieich“, the district of Offenbach has implemented the education concept of the European Council and the "Strategy for Lifelong Learning" of the federal and state governments. The education centre in Dreieich-Sprendlingen, which was partly renovated or rebuilt and partly newly built from 2007 onwards, has become an important component of the public social infrastructure. It brings together various forms of schools, education and care in the district of Offenbach in one campus. On the HLL grounds, children learn alongside young professionals, adult education students, students and pensioners. The core of the facilities is formed by the Max Eyth School (vocational school), a grammar school and a secondary school for adults, as well as the Volkshochschule Kreis Offenbach. Closely linked to this are the adult education centre and the Dreieich music school as well as the media centre, which have also moved onto the campus. In addition, there are other education providers, such as Allservice, Asklepios Nursing School, Hessian Academy for Office Management, Promethean, Strothoff International School Rhein-Main as well as facilities of the Episcopal Ordinariate Mainz, Deutsche Vermögensberatung and facilities of the Diakonie, which bring a variety of skills, experience and programmes.

High transaction security thanks to floating price clause
In order to take into account the volatile interest rate development until the planned closing at the end of September, a price escalation clause was integrated into the purchase contract. If market interest rates continued to rise, the purchase price was to fall, whereas it was to rise if interest rates fell. This mechanism gave both sides transaction security.

Investments in Public Social Infrastructure as a Safe Investment
Investments in public social infrastructure in Germany have become much more attractive in recent years. Investors focus on real estate and projects that are essential for maintaining important social functions, such as administration, health care, transport networks and energy supply, but also education. Especially in times of highly volatile markets, the investment segment of public social infrastructure proves to be a reliable haven for institutional investors. Owners or tenants in this segment are predominantly government agencies, which have a very low default risk compared to the private sector.

"As an investor and active asset manager, Montano also strives to increase the value of the properties entrusted to us and, of course, our own properties as well," Rabeian continues. "Particularly in the case of existing properties, targeted ESG measures sometimes result in considerable potential for value enhancement. The associated contribution to more sustainability and climate protection in the real estate sector is more than just a nice side effect."

Montano was advised on the transaction by McDermott under the leadership of partner Frank Müller and technically by Kroll.

Montano Real Estate GmbH ("Montano", www.montano.eu), a highly specialised partner for investments in commercial real estate, has closed the first half of 2023 with purchase agreements totalling 212 million euros. In view of the ongoing market turbulence, this is a very satisfactory result. For the second half of the year, the company is in exclusive purchase negotiations with several properties.

Montano completed transactions in all asset classes focused on by the company in the first half of 2023. Two additional interesting properties were added to the logistics portfolio and the public social infrastructure segment in particular was significantly expanded. In these asset classes, Montano's strategy of active asset management, taking sustainability criteria (ESG) into account, means that both an increase in attractiveness for tenants and a significant increase in property value can be achieved. With the sale of the two remaining buildings of the Eschborn KÖ Campus at the beginning of July for a sales price of 70 million euros, the KÖ Campus is now completely sold. The transaction represented the largest on the Frankfurt investment market so far this year.

A total of 22,000 sqm was let via 12 leases in the first half of 2023. This also includes the new letting of the remaining space in the Nassau Carree in Idstein to the drugstore chain Rossmann and the organic market chain Denns, which means that the Nassau Carree is now fully let. In the east of Munich, the lease for an attractive 13,090 sqm logistics property was extended with the Volkswagen subsidiary Volkswagen Original Teile Logistik GmbH & Co. KG was extended.

In the first half of the year, the Public Sector segment was expanded to include the Public Social Infrastructure investment line, which Montano sees as extremely promising:

"With the Public Social Infrastructure segment, we have our finger on the pulse of the times, because there is considerable pent-up demand for public infrastructure in Germany in particular - both in the area of refurbishment and in the construction of new buildings. It is questionable whether the state can provide sufficient funds for financing," says Montano co-founder and Managing Partner Ramin Rabeian. "Investments in this sector offer an opportunity for private investors who not only expect returns, but also want to contribute to the common good," adds Montano co-founder and Managing Partner Sebastian Schöberl. "Public Sector investments are also regularly protected against inflation and enjoy sustained demand."

In the second half of 2023, Montano is planning further purchases for the Montano Public Sector Fund, as well as the expansion of existing individual mandates. Montano also hopes for interesting opportunity through purchases of core plus or value add properties in the food retail segment, as well as through investments in non-ESG compliant and stranded office properties with the aim of repositioning them in an environmentally friendly way. The company's equity capital will also be increasingly used in this context.

Investcorp, with the support of Montano Real Estate GmbH ("Montano", www.montano.eu), has sold the two remaining buildings of the Eschborn KÖ-Campus to SCPI Eurovalys, a fund managed by ADVENIS REIM and advised by ADVENIS Germany for a sales price of €70 million. This makes the transaction the largest on the Frankfurt investment market so far this year. After the KÖ3 building was already sold to Conren Land in August 2022, the KÖ Campus is now completely sold.

The KÖ Campus was built in 1991 and extensively refurbished and modernised in 2018. Since the purchase of the KÖ-Campus by Investcorp in July 2018, Montano, as highly specialised partner for investments in commercial real estate, acted as asset manager for the entire ensemble and accompanied the purchase and sale transactions. At the beginning of 2022, Montano implemented comprehensive modernisation and ESG measures in the combined total lettable area of almost 40,000 sqm as part of its active asset management strategy. The underground and outdoor car parks were electrified, the side entrances were modernised and the buildings were brought up to an ecological and contemporary standard through additional ESG measures. These included the installation of energy-efficient LED lighting and motion detectors, the implementation of CO2 measuring devices in the offices and retrofitting of bicycle stands.

To meet the requirements of modern working environments, a "new work concept" was implemented with the help of glass elements, open office spaces with an industrial look, state-of-the-art phone boxes, community areas and a moss wall in the entrance area.

By the end of 2022, Montano was able to attract eight new office tenants to the KÖ Campus and completely eliminate the office vacancy. The leases were concluded on a long-term basis for an average of more than eight years. The buildings have a well-known, well-diversified tenant structure and the rents could be increased significantly."We feel obliged towards the environment and society to implement sustainability goals with regard to ecological, social and ethical aspects, especially in the area of existing properties. A nice side effect: modernisation measures increase the value of the properties and ultimately lead to successful transactions, just like here with the KÖ Campus," says Julius Falcinelli, Head of Asset Management at Montano Real Estate. "Right at the start of our involvement in 2018, we initiated the ecological transformation of the entire ensemble and repositioned it within five years; we are now reaping the rewards for this work."

JLL brokered the transaction, CMS Hasche Sigle provided legal advice to the seller and Norton Rose Fulbright provided legal advice to the buyer. ADVENIS Germany is responsible for the operational management of the properties.

Montano Real Estate GmbH ("Montano", www.montano.eu), the a highly specialised partner for investments in commercial real estate, and Carlyle have leased an attractive logistics property with 13,090 square metres of warehouse space to Volkswagen subsidiary Volkswagen Original Teile Logistik GmbH & Co. KG for a period of six years. The property in Wasserburger Landstraße in the east of Munich is from the logistics portfolio managed jointly with Carlyle and has a unique location in the Munich logistics market with a straight-line connection to the city centre of Munich. The tenant Volkswagen Original Teile Logistik GmbH & Co. KG also benefits from the proximity to its own Southern Bavaria distribution centre.

As part of the partnership agreed in September 2021, Montano and the globally active investment manager Carlyle jointly acquire logistics properties. These were logistics properties in locations close to cities in Germany. Montano is responsible for investment and asset management within the framework of this partnership.

"Wasserburger Landstraße, with its unique logistics location in Munich, plays a central role in our portfolio. We are therefore very pleased to be able to keep Volkswagen Original Teile Logistik, a reliable tenant, at the location for the long term. We plan to invest sustainably in the modernisation of the property to make it fit for the future," says Senior Asset Manager Tobias Reichhart.

"The proximity to our headquarters at the Schatzbogen in Munich's east is ideal for us. We were able to incorporate our wishes into the planned modernisations of the property by Montano. The entire working environment will be significantly upgraded. This means that we will continue to offer our employees attractive workplaces in the future," Jörg Helfmann, Branch Manager of the Southern Bavaria Sales Centre, is pleased to say.

Montano Real Estate GmbH ("Montano", www.montano.eu), the highly specialised partner for investments in commercial real estate, has found two well-known new tenants for the Nassau-Carree retail park centrally located in Idstein near Frankfurt: Rossmann, Germany's second largest drugstore chain, will move into 700 square metres of retail space in the second quarter of 2023, and Germany's largest organic market chain Denns will move into a further 600 square metres in the third quarter.

The Nassau-Carree consists of six buildings with a total of 14,000 square metres of space and is centrally located in Idstein in the Taunus region. With the leasing to Rossmann and Denns, the retail park at Limburger Strasse 38-40 is fully let.

Only in April, Deichmann extended its lease for another five years and in the course of this implemented a new shop concept with an open industrial ceiling, repainted and modernised the store. Montano Real Estate had already leased the former post office parcel station in Nassau-Carree, directly on Limburger Straße, to the local hairdresser Latika Barbershop at the end of 2022.

"Since last year's purchase, we have been intensively involved with the further development of Nassau-Carree and its existing tenants," says Julius Falcinelli, Head of Asset Management at Montano. "In the course of the operational further development of the Nassau Quarter, we wanted to make the retail park even more attractive for customers and residents. With the existing tenant Rewe and the two new tenants Rossmann and Denns, the Nassau-Carree will in future offer the particularly attractive trio of supermarket, drugstore and organic market, thus ensuring even more customer gravitation, which will also benefit the other existing tenants. We are currently examining, among other things, the electrification of the parking spaces in conjunction with further solar systems on the existing roofs in order to convert the buildings to be future-proof and in line with the latest ESG standards."

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment specialists in the German commercial real estate market, was able to close the past financial year 2022 with a positive result thanks to an expansion of its business segments and transaction successes in all asset classes relevant to the company.

"2022 was a real challenge for all market participants: geopolitical crises, a sharp rise in inflation and - particularly relevant for our industry - a significant increase in interest rates. I am proud of our team that we were nevertheless able to close the year so successfully and with results that were down on the previous year, but still positive," said Montano founder and Managing Partner Ramin Rabeian. "Despite the difficult market situation, we successfully closed deals last year in all asset classes we actively manage. These successes show that we have established ourselves as a reputable partner in the German commercial real estate market over the past ten years."

There were several highlights for Montano in the past fiscal year:

• Successful launch of a multi-investor special fund in the Public Sector segment: in spring 2022, we launched the Montano Public Sector Fund for German institutional investors. The first transactions for the fund were the purchases of the office properties SAS11 in Frankfurt and Chess House in Stuttgart. Further transactions are planned for this fund in 2023.

• First purchase in the high double-digit million range on Montano's own balance sheet: Another transaction highlight was the acquisition of the Duisburg Central Office (DCO) building in Quartier 1. It was purchased temporarily on Montano's balance sheet in spring 2022 as the company's first own property as part of its warehousing strategy and then placed with institutional investors.

• Expansion of the partnership with Carlyle Group in the Logistics segment: As part of the partnership agreed in September 2021, Montano and the global investment manager Carlyle jointly acquired a total of seven logistics properties last year. These were distribution properties in prime urban locations in Germany. Montano is responsible for investment and asset management in this partnership. The volume of the joint portfolio of Carlyle and Montano thus grows to 25 properties or now more than 300 million euros. The value of the total portfolio is to be increased to 500 million euros through further acquisitions.

• Asset Management and Transaction Advisory: Montano acted as transaction advisor and asset manager for Gold Tree in the acquisition of the approximately 40,000 sqm Technoforum in Wolfsburg, which is leased to Volkswagen Immobilien on a long-term basis, and the Business Campus Mainz, as well as in the sale of Gold Tree Group's Oyster portfolio to HIH Invest.

• Significant increase in value through active asset management: With the sale of the KÖ3 office building in Eschborn to CONREN Land, Montano was once again able to demonstrate that active asset management has a positive effect on the increase in value of the respective property, thus convincing potential buyers even in turbulent times. The KÖ Campus is particularly impressive due to its diversified tenant structure, its modern design and the potential for further dedicated ESG measures.

Assets under management increase by 16 percent to 1.8 billion euros with transaction volume of 500 million euros

Montano increased the value of its assets under management to 1.8 billion euros in fiscal 2022. This corresponds to an increase of 250 million euros or a good 16 percent compared with 2021 (1.55 billion euros). Managed leasable space increased by 190,000 sqm to a total of approximately 800,000 sqm

"2022 was another exciting year in our now ten-year history. We expanded our business model to include the conception and sale of our own investment products, launched our first own multi-investor fund, the Montano Public Sector Fund, and increased the size of our team by eight employees," said Sebastian Schöberl, another Montano founder and Managing Partner.

Plans for the current 2023 financial year include the expansion of the Public Sector portfolio and the Social Infrastructure investment line, the launch of further theme funds and the expansion of existing individual mandates. In addition, Montano plans to make acquisitions of Core Plus or Value Add properties in the Food Retail segment, as well as investments in non-ESG and stranded office properties with the aim of repositioning them in an environmentally friendly way. In this context, the company also intends to make greater use of its equity capital.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, has completed the purchase of two additional properties in Schkeuditz near Leipzig as part of its partnership with global investment manager Carlyle (NASDAQ: CG), which has been ongoing since fall 2021. The two independent logistics buildings with 13,000sqm and 6,000sqm of space are conveniently located not far from Leipzig/Halle Airport. Asset management was also taken over for a logistics property in Obertshausen near Frankfurt, also as part of the Carlyle partnership.

As part of the partnership, Montano and Carlyle have already acquired a total of seven properties in the current year and taken over active asset management. This brings the volume of the joint Carlyle and Montano portfolio to 25 properties. The properties are acquired through Carlyle Europe Realty (CER), Carlyle's pan-European real estate platform. The value of the total portfolio is expected to increase to €500 million through further acquisitions.

As part of the partnership, Carlyle is investing in logistics properties close to cities. Montano will provide active asset management for all properties with the aim of generating added value and corresponding excess returns through an active management and leasing strategy as well as renovations and selective repositioning.

The seller of the properties in Schkeuditz near Leipzig is JASIKA Holding GmbH, the property was brokered by Lütgen Breiholdt Immobilien GmbH & Co. KG. The property in Obertshausen near Frankfurt, which was newly taken over into Montano's asset management, has around 13,000 sqm and is conveniently located in the Frankfurt metropolitan region with good connections to Frankfurt, Offenbach and Hanau. Both properties are suitable for third-party use and have solar panels on the roof.

"We have already been very active in logistics properties in the current year and intend to continue to grow significantly here with the aim of expanding the partnership's total portfolio to EUR 500 million. Online retail is booming and trends such as same-day delivery or free shipping and returns are fuelling demand for logistics properties close to cities. Investments in such properties therefore remain exciting, especially as the market continues to grow significantly," explains Sebastian Schöberl, co-founder and Managing Partner of Montano Real Estate.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, has handed over a property in Bonn to the Federal Network Agency on schedule after being modernised to the latest standards on behalf of the tenant. The property leased to the Federal Real Estate Agency („Bundesanstalt für Immobilienaufgaben“) is House 7 at Tulpenfeld in Bonn, which is located in front of the former Federal Press Conference building and is used by the Federal Network Agency. The lease was extended ahead of schedule in the course of the modernisation. Montano has managed the Tulpenfeld complex for Gold Tree Group since its purchase in 2014.

As part of the modernisation of the listed building, which took just under a year, the entire usable area of approx. 7,000 sqm was completely renovated and equipped with energy-saving LED lighting, among other things, taking into account ESG standards. All rooms were refurnished to a high standard and the conference rooms were equipped with state-of-the-art media technology. In addition to measures to ensure accessibility, monitored lock and gatekeeper systems were installed in the entrance areas, taking into account the user's security concept.

The project, managed by GP Ingenieurgesellschaft from Cologne (responsible project control) and Kastien Architekten from Düsseldorf (object planning), was implemented within the cost, schedule and quality specifications agreed upon in the rental contract with BIMA, despite all market adversities.

"I am very pleased about the positive completion of this project, because on the one hand it proves our ambition to make existing properties fit for the future by enabling them to operate more sustainably," says Sebastian Schöberl, co-founder and Managing Partner of Montano Real Estate. "On the other hand, the completion on time and on budget is a fine testament to our quality as an asset manager. The project also pays tribute to our many years of experience in the field of real estate leased to government users."

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, can acquire another promising property for the multi-investor special fund "Montano Public Sector Fund I", which was launched in spring, with the purchase of the two connected office buildings "Chess House" in Stuttgart's Feuerbach district. The seller is SH.I.R. Real Estate Germany. The parties have agreed not to disclose the purchase price.

The property is located at Heilbronner Straße 314 in Stuttgart's high-demand Feuerbach submarket. The two parts of the building together have 9,000 sqm of rental space, extends over six or seven floors and also have a three-storey underground car park with almost 100 parking spaces. The state of Baden-Württemberg has been the tenant of the two buildings since April 2021. They are located north of Stuttgart's city centre and are easily accessible by public and private transport. As an integral part of the investment criteria, a concrete plan was already drafted during the due diligence process to sustainably transform the property through various measures.

"The Chess House is another very interesting property in an attractive location and has a long-term tenant with a strong credit rating in the state of Baden-Württemberg - this is precisely what we are targeting with our Public Sector Fund: commercially used administrative buildings in the best locations in the most important metropolises and economic centres. The strategy of acquiring flexible building structures in good locations with rent default-proof tenants and enforceable indexed leases makes our fund so interesting for investors, especially in times of crisis," says Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate.

The economic launch of the "Montano Public Sector Fund I" only took place in April 2022 and significant equity commitments were already raised at the start. This means that the fund currently has a total investment volume in the three-digit million euro range. The fund is expected to invest a total of 500 million euros. The "Montano Public Sector Fund I" focuses on core properties with government or government-related users. The attractiveness of this asset class is due, among other things, to the fact that government-related users are always tenants with very good credit ratings who are interested in long-term leases due to the high barriers to relocation. Indexed leases also offer protection against the current high inflation. The "Montano Public Sector Fund I" qualifies according to Art. 8 of the Disclosure Regulation and thus takes into account the increasing relevance of the sustainability issue for the public sector.

Legal advisors were McDermott Will & Emery Rechtsanwälte Steuerberater LLP. Technical advice was provided by Drees & Sommer. The seller, SH.I.R. Real Estate Germany, was legally advised by Andersen GmbH Rechtsberatung Steuerberatung. Colliers Stuttgart and E&G Real Estate acted as brokers in the transaction.

Media Broadcast GmbH has leased around 2,000 square metres of office space in Eschborn near Frankfurt. The space is located in the KÖ-Campus building complex in Eschborn's South Industrial Estate. The company, Germany's largest service provider in the broadcasting and media industry and part of freenet AG, will move into the new space at Kölner Straße 12 in the first quarter of 2023. The landlord of the space is Montano Real Estate GmbH. The lease agreement was concluded for a term of ten years. Colliers acted as advisor to the tenant.

Marc Nickel, Head of Office Letting Frankfurt at Colliers, comments: "We are very pleased with this successful deal. With their proximity to Frankfurt, the KÖ Campus buildings offer the ideal office location not far from the metropolis. The complex has recently been extensively modernised and combines the latest structural standards with a high quality of stay thanks to green spaces and excellent transport connections. The lively interest in the space confirms the attractiveness of the location."

Julius Falcinelli, Head of Asset Management at Montano, added: "A lot has happened since we purchased the KÖ Campus in 2018. With okadis, Atomy Europe, Pactra International Germany and now Media Broadcast, we were able to attract well-known companies to the building and fully let the Kö12 building within just one and a half years, with average contract terms of more than eight years. The 'New Work Concept', which was implemented in the marketing suite on the 6th floor, was so well received by prospective tenants that almost all new tenant improvements are also based on this concept. In the future, the Kö10 and Kö12 buildings are to be certified according to the latest ESG standard BREEAM 'very good', among other things by electrifying the underground and outdoor parking spaces, thus also bringing them up to contemporary ecological standards."

The Eschborn South commercial area is located directly on the western city boundary of Frankfurt. Thanks to good motorway and public transport connections, Frankfurt city centre and the airport can be reached within a 10-minute drive. With the lease by Media Broadcast, the building at Kölner Straße 12 is fully let.

Among other things, Media Broadcast is a network operator for freenet TV and DAB+, but also has 5G campus networks in its portfolio. In recent months, the company has received several awards as an attractive employer, not least because of the 4-day week for all employees.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment specialists in the German commercial real estate market, looks back on a successful first half-year. In addition to the launch of the "Montano Public Sector Fund I" and a significant expansion of the Carlyle mandate, further flagship projects were concluded. The transaction volume in the first half of 2022 was around 280 million euros and fully in line with planning. The value of assets under management reached 1.63 billion euros (31 December 2021: 1.55 billion euros). In the first six months of 2022, twelve leases for a total of 11,500 sqm were also concluded.

"In the first half of 2022, as previously announced, we expanded our business model to include our own investment products, acquired our first property on our own balance sheet and launched our Public Sector Fund. And all this in a thoroughly challenging market environment! We are very proud of this team achievement," says Montano founder and Managing Partner Ramin Rabeian. Founding partner Sebastian Schöberl adds: "We also have a lot planned for the second half of the year. In addition to the expansion of our Public Sector portfolio and existing partnerships, we are increasingly focusing on acquisitions of Core Plus or Value Add properties in the food retail segment as well as investments in non-ESG-compliant and stranded office properties with the aim of repositioning them in an ecofriendly way. Although national players are currently reluctant to invest here, the momentum of foreign investors will prevail as the market offers a multitude of opportunities."

Successful launch of the "Montano Public Sector Fund I" and already first successful transaction

With the launch of the multi-investor special fund "Montano Public Sector Fund I" at the beginning of March 2022, Montano is hitting a segment perfectly suited to the current market situation. The fund exclusively acquires core properties in the office property sector with government or government-related users. Investors benefit from the excellent creditworthiness of this tenant group and the inflation protection provided by indexed leases. Both factors are considered very attractive in the current turbulent times. Already at the time of the launch, equity commitments in a significant amount were raised, enabling a total investment volume in the three-digit million euro range. In total, the fund volume is expected to grow to 500 million euros.

Shortly after the fund's launch, Montano was able to conclude the first transaction for the "Montano Public Sector Fund I" with the acquisition of a modern core office building in Frankfurt am Main. The seller on behalf of a family office was the Cells Group, the main tenant is the City of Frankfurt.

Significant expansion of the logistics partnership with Carlyle and already six new acquisitions in 2022

In the first half of the year, the partnership concluded in autumn 2021 with the globally active investment manager Carlyle was significantly expanded with the acquisition of a total of six new properties. Together, Carlyle and Montano are investing in logistics properties with a focus on distribution properties in prime city locations in Germany. With the transactions of the first half of 2022, the volume of the joint portfolio of Carlyle and Montano grows to 24 properties or around 300 million euros. The properties are being acquired for the pan-European real estate fund Carlyle Europe Realty (CER). The value of the total portfolio is to be increased to 500 million euros through further acquisitions.

Further transactions with renowned partners and first property acquisition on own balance sheet

Other major transactions included the acquisition of the building complex "Präsident-Kennedy-Platz 1/1A" in Bremen for an individual mandate of a German professional pension fund at the beginning of February 2022. At the beginning of March 2022, Montano was able to purchase the Duisburg Central Office in Quartier 1 as its first property on Montano's own balance sheet. The seller was Aurelis Real Estate, the transaction volume was in the high double-digit million euro range. Montano also acted as transaction advisor for the sale of Gold Tree's Oyster portfolio to HIH Invest. The sale took place as part of an asset deal via a structured process for HIH's local retail special fund "Perspektive Einzelhandel: Fokus Nahversorgung". Montano had been responsible for asset management here since the purchase in 2016.

Following the publication of the first Montano annual report at the end of February 2022, the first Montano sustainability report will also be published shortly.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, has acquired a modern core office building in Frankfurt/Main, the first transaction for the multi-investor special Public Sector Fund launched in April 2022. The object is sold by the Cells Group on behalf of a family office. The parties have agreed not to disclose the purchase price.

Built in 2002, the modern 5-storey office building has a lettable area of more than 8,000 sqm and 40 parking spaces and is currently fully let to a total of eight tenants. More than 80 percent of the rental income are generated by public sector tenants and government-related companies. The main tenant is the City of Frankfurt. The property is located at Salvador-Allende-Strasse 11 in the Frankfurt-Bockenheim district and is characterised by its proximity to Frankfurt city center and easy access by public and private transport.

"We are very pleased to announce this attractive transaction so soon after the launch of our Public Sector Fund. The target group of government-related tenants offers a high degree of security, because especially in turbulent times like these, a strong credit rating is an even greater asset," says Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate. "For many years, we have had good experience with properties leased to government-related users and expect to announce more promising transactions for our fund soon."

The economic launch of the "Montano Public Sector Fund I" took place in April 2022 and significant equity commitments were already raised at the start. The fund currently has a total investment volume in the three-digit million euro range and is expected to invest a total of 500 million euros. The "Montano Public Sector Fund I" focuses on core properties in the office and special real estate sector with government or government-related users. One of the reasons why this asset class is so attractive is that government-related tenants have very good credit ratings and are interested in long-term leases due to high relocation hurdles. According to studies , the rental market with public sector tenants has turned out to be very robust even during the Corona crisis. The "Montano Public Sector Fund I" qualifies under Art. 8 of the Disclosure Ordinance, thus taking into account the increasing relevance of the sustainability issue for the public sector.

The buyer was advised in the off-market transaction by Black Olive, legal advisors were McDermott Will & Emery, technical advice was provided by ChandlerKBS. The seller was advised by HFK Rechtsanwälte PartGmbB.

Montano Real Estate GmbH (Montano), an independent investment specialist for German commercial real estate, has acquired the Duisburg Central Office (DCO) in Quartier 1 as a forward deal from Aurelis Real Estate. The transaction volume is in the high double-digit million euro range.

Aurelis plans to complete the building by the fourth quarter of 2022. By then, a five-storey property with a lettable area of around 11,400 square meters and around 50 own underground parking spaces will be built. The property is already fully let on a long-term lease to the financial services provider Consors Finanz, a subsidiary of BNP Paribas Bank.

"We are very pleased to have been able to acquire this high-calibre property as our first own property on the Montano balance sheet. Increasing our own investment portfolio and directly participating in promising investments is a step into a new dimension for us," said Montano founder and Managing Partner Ramin Rabeian.

The DCO is located in the immediate vicinity of Duisburg's main railway station and the city centre and has good public transport and motorway connections. The A-shaped building is divided into a western and an eastern section, which are connected to each other via a glass-scaled access core. The entrance area is characterised by a generous glass construction, while the two parts of the building are distinguished by floor-to-ceiling windows and a complete clinker facade. The office spaces are predominantly designed as open-plan offices and, in addition to cavity floors, offer an efficient ventilation system and heated/cooling ceiling sails. The property is aiming for the DGNB sustainability certificate with at least a gold rating.

The transaction was brokered by BNP Paribas Real Estate GmbH. McDermott Will & Emery Rechtsanwälte Steuerberater LLP provided legal support and ChandlerKBS and Tauw carried out the technical audit. Münchener Hypothekenbank is supporting the property with long-term financing.

"Duisburg has developed into a B location where large-volume investments are possible. The cooperation with the city works very well, the demand from companies for rental space is high and investors are now also interested in high-quality, well-let office buildings," sums up Michael Buchholz, Head of Aurelis Region West.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment managers in the German commercial real estate market, has successfully launched a multi-investor special fund together with IntReal as service KVG. This further implements the announced expansion of the service portfolio with own investment products. In a first closing, the "Montano Public Sector Fund I" was able to acquire significant equity commitments and thus already has a total investment volume in the three-digit million euro range at its start. The fund is to invest a total of 500 million euros.

The "Public Sector Fonds I" focuses on core properties in the area of office and special real estate with government or government-related users. The attractiveness of this asset class is due, among other things, to the fact that government-related users are always tenants with very good credit ratings who are interested in long-term leases due to high barriers to relocation. Several studies show that the rental market with public sector tenants has proven to be very robust, even during the Corona crisis.

Montano already has many years of experience and a very good network in the area of properties let to government users. When selecting investment properties, Montano pursues ecological characteristics. The fulfilment of corresponding criteria is already evaluated by Montano in the acquisition process and taken into account in the fund's investment decision. This takes into account the increasing relevance of the sustainability issue for the public sector. In addition, the fund qualifies under Art. 8 of the EU-Disclosure Regulation.

"I am very pleased about the trust that institutional investors have placed in us. It is the basis for us to announce the first closing of our Public Sector Fund today," says Ramin Rabeian, co-founder and Managing Partner of Montano Real Estate. "This is the next logical step in the expansion of Montano's range of services. More are to follow this year. In this respect, I am already confident that we will achieve the ambitious growth targets we have set ourselves for this year."

IntReal International Real Estate Kapitalverwaltungsgesellschaft acts as the fund's service KVG and BNP Paribas Securities Services acts as the depositary bank.

Note: The risk and return of a fund investment depend on the investment strategy and the market development of the individual asset components of the fund.

BLB Immobilien GmbH, a 100% subsidiary of Norddeutsche Landesbank (NORD/LB), has sold the "Präsident-Kennedy-Platz 1/1A" building complex in Bremen. It was acquired by Montano Real Estate GmbH ("Montano") from Munich for a German professional pension fund. Montano is one of the leading independent investment specialists in the German commercial real estate market. The property is let long-term to the logistics service provider BLG Logistics. The parties have agreed not to disclose the purchase price.

Udo Buskamp, Managing Director of BLB Immobilien, looks at the sale „with one laughing and one crying eye". "These are outstanding buildings in a prime location, developed by us and let to an ideal partner in BLG LOGISTICS. You don't like to part with that." On the other hand, one has to look ahead: Such properties are in demand and the proceeds enable new investments. "We have four new projects in the pipeline, three of them in Hanover and one in Braunschweig, and thus challenging tasks for the company and our colleagues in the coming years."

"We are delighted to have been able to acquire this unique property for a client," says Montano founder and managing partner Ramin Rabeian. "The successful transaction once again underlines the good reputation we have now earned as an independent investment partner for institutional investors on the German commercial real estate market. Flagship projects like this one in Bremen help us to achieve our ambitious growth targets."

The complex on Bremen's Präsident-Kennedy-Platz consists of a listed old building, the former American Consulate General, and a new building constructed in 2002 and comprises a total of around 8,000 sqm of office space and 64 car parking spaces. The four-storey old building, built in 1954 according to the plans of the American architectural firm SOM, Chicago, is considered the first significant example of post-war modernism. In 2005, the building was extensively renovated for the current tenant in terms of structural engineering and energy efficiency. The architectural firm Gruppe GME, Achim, received recognition for this as part of the 2010 Bremen Historic Preservation Award.

BLB Immobilien was advised in the sales process by NORD/FM, which also belongs to NORD/LB, and legally by the law firm GHB Ganten Hünecke Bienieck & Partner. Colliers International Hamburg acted as intermediary.

Montano Real Estate GmbH ("Montano", www.montano.eu), one of the leading independent investment specialists in the German commercial real estate market, has closed the financial year 2021 with a transaction volume of EUR 1.1 billion. This corresponds to a fourfold increase in volume compared to 2020 (EUR 275 million). One of the transaction highlights in the asset classes actively managed by Montano - office, retail, light industrial, logistics and public infrastructure - was the successful sale of the Munich landmark property "Uptown Munich", the city's tallest office building. Other successful transactions include the Easten property at the main railway station in Düsseldorf and the acquisition of an office property in North Rhine-Westphalia with a volume of EUR 70 million, which is the first transaction Montano has added to its own balance sheet.

In September 2021, Montano also agreed on a partnership with the global investment manager Carlyle to jointly invest in logistics properties with a focus on distribution properties in prime locations close to cities in Germany. As part of this partnership, Montano will be entrusted with the asset management of an existing portfolio of twelve logistics properties in Germany. Together, the portfolio is to be expanded to a value of EUR 500 million over the next few years.

In total, Montano was able to win new asset management mandates amounting to EUR 280 million in the past financial year. The value of assets under management at the end of the financial year was EUR 1.55 billion. In asset management, 35 leases for a total of 65,000 sqm were concluded last year.

"We were very successful in our core business in the past financial year and even exceeded our ambitious targets," said Montano founder and Managing Partner Ramin Rabeian. "To capitalise on this momentum, we have expanded our management and business model. A promising new pillar of our business in the future will be the conception and distribution of our own investment products. To this end, we want to acquire attractive core properties ourselves and offer them to institutional investors in Germany via regulated investment products."

With Thomas H. Pohlmann, Montano was able to gain a proven expert in the sale of regulated investment products in December 2021. Pohlmann strengthens the Montano management team around the two founders Ramin Rabeian and Sebastian Schöberl. He was previously Head of Institutional Sales & Investors Relations at BNP Paribas REIM and will be responsible for fund placement and equity capital raising at Montano.

Montano has not only strengthened its personnel but also its capital base in the past financial year. After TTL Beteiligungs- und Grundbesitz-AG ("TTL", ISIN DE0007501009) had already acquired a 30% stake in Montano in December 2020, the share was increased to 50% in May 2021. With TTL as a strong anchor investor and the funds raised through the capital increase, the company has a substantial basis for its ambitious growth targets.

The launch of two special real estate funds and the expansion of existing individual mandates are planned for the current financial year. Montano expects a transaction volume of over EUR 1 billion in 2022. The medium-term goal of increasing assets under management to EUR 6-8 billion by 2025 remains in place.

For the financial year 2021, Montano will also publish an annual report for the first time, thus taking into account the increased need of investors for more transparency. Publication is planned for February 2022.

Thomas H. Pohlmann joins the management team of the independent real estate investment and management company Montano Real Estate on 1 December 2021. Together with the founders and managing partners Ramin Rabeian and Sebastian Schöberl, he will expand the business with institutional investors. Previously, Pohlmann was Head of Institutional Sales & Investors Relations at BNP Paribas REIM and will be responsible for fund placement and equity raising at Montano.

The expansion of the management team is the next step in the development of Montano Real Estate GmbH. The company repositioned itself in the summer of 2021 and intends to offer more services to German institutional investors. Montano is thus pushing the conception and sale of its own investment products. For the coming year in particular, in addition to two special real estate funds, increased transactions with institutional investors are also planned.

Thomas H. Pohlmann has many years of experience in the distribution of regulated investment products, most recently as Head of Institutional Sales & Investors Relations at BNP Paribas REIM. Previous positions included Real I.S. AG, The Royal Bank of Scotland and BlackRock, where he managed the proprietary investments of savings and cooperative banks in addition to institutional investors such as insurance companies, pension funds and pension schemes.

"With his network and experience in the distribution of investment products, Thomas H. Pohlmann perfectly complements our team. In addition, he has valuable knowledge about the specific needs of the different investor groups. I am very pleased that we were able to win him over to Montano Real Estate and our ambitious goals for the coming years," Sebastian Schöberl explains the expansion of the management team.

"We have already been working successfully with institutional investors from Germany for several years and are certain that with Thomas H. Pohlmann we will be able to approach institutional investors in a more targeted manner and thus tap into new target groups, especially for our new products," adds Ramin Rabeian.

Pohlmann will also join the management of TTL Investments in Germany GmbH, a subsidiary of TTL Beteiligungs- und Grundbesitz-AG ("TTL"). TTL, an investment company specialising in the German commercial real estate market, has held a stake in Montano since November 2020 and increased this to 50% in May 2021.

"I am looking forward to my upcoming tasks and the opportunity to accompany the planned growth course of Montano Real Estate with new products," says Thomas H. Pohlmann.

Global investment firm Carlyle (NASDAQ: CG) and Montano Real Estate today announced the formation of a joint partnership to invest in logistics properties with a focus on distribution assets in prime urban locations in Germany.

Under the terms of the new partnership, Montano will take control of the asset management of Carlyle’s existing 12 distribution logistics properties across Germany, which were acquired by Carlyle through European Carlyle Europe Realty (CER), a €540 million pan-European real estate fund. Montano will work together with Carlyle to further grow the portfolio on behalf of discretionary fund managed by CER.

The partnership will predominantly focus on logistics assets in German cities with strong demographic and economic fundamentals. Carlyle and Montano will look to add value by implementing an active asset management and leasing strategy, including refurbishments and selective repositionings. The Partnership aims to grow the overall portfolio to EUR 500m over the coming years.

Ramin Rabeian, Managing Partner at Montano, said: “The distribution logistics sector continues to grow rapidly, and we are delighted to partner with a globally reputable investment group like Carlyle, to explore opportunities in market. We will look to add value through our sourcing and asset management capabilities and expect that our joint partnership with Carlyle will enable us to grow the portfolio quickly.”

Erik Orbach, Director on the Carlyle Europe Realty advisory team, said: “Germany represents one of Europe’s most established and attractive logistics markets with strong demand fundamentals and a shortage of high-quality modern logistics assets. Leveraging our extensive global and regional insights, and investing experience of the Carlyle Europe Realty team, we look forward to expanding our logistics footprint in Germany together with Montano.”

Carsten Quehl, Director on the Carlyle Europe Realty advisory team, said: “We are delighted to strengthen and expand our asset management capabilities in the German logistics segment, which is core to our investment strategy in Europe, by partnering with an experienced and recognised industry leader in Montano.”

The Munich-based investment specialists, who previously operated primarily as service providers under the name Montano Asset Management GmbH, are changing their name to Montano Real Estate GmbH. With immediate effect, they are expanding their range of services to include their own investment products. The company is pursuing an ambitious growth strategy.

The declared goal of the two Montano founders and managing partners Ramin Rabeian and Sebastian Schöberl is to increase the assets under management volume to 6-8 billion euros by 2025. In the first half of 2021, Montano already realised a transaction volume of around 800 million euros. Thus, the implementation of the growth strategy is well on track. TTL AG's stake in Montano at the end of 2020, which was increased in May from initially 30% to now 50%, provides additional tailwind.

"We look forward to acquiring attractive core properties ourselves in the future and incorporating them into our own investment products," says Ramin Rabeian. "As an independent local anchor for our international clients, we have been developing top properties in the German commercial real estate market for almost ten years. Now it's time to take it to the next level." Sebastian Schöberl adds: "We understand real estate and we understand investments. What could be more obvious than to translate these competences into our own products and thus offer ourselves as a partner to local institutional investors? With our own acquisition of real estate, we take much more risk ourselves and assume responsibility for significant value enhancement of sustainable investments."

Founded in 2013 by Ramin Rabeian and Sebastian Schöberl, Montano quickly advanced to become the leading independent real estate investment and management company in the German commercial real estate market. Extensive experience in asset management for institutional and international investors secured a steadily growing stream of renowned managed real estate projects. After more than forty successfully completed transactions and with over 1.6 billion euros in assets under management, Montano now also offers its own products for institutional investors. The company's goal is to pre-configure complex real estate projects in such a way that investors can realise lucrative increases in value significantly above the market level under clear framework conditions.

Montano, one of the leading real estate asset and investment managers in the German commercial real estate market, acting for a professional pension fund, has acquired an office complex with a lettable area of around 9,800 square metres, directly adjoining Dusseldorf central railway station. MEAG, asset manager of Munich Re and ERGO, is acting on behalf of the vendor. Ramin Rabeian, Managing Partner of Montano Asset Management GmbH, explains: "Montano is specifically looking for attractive properties in the most important German markets. In furtherance of this strategy, we are pleased to announce the acquisition of the property in Dusseldorf. The building is in an excellent location, directly adjoining the central railway station, in an established Dusseldorf submarket that has a very low vacancy rate and has developed very positively."

The main tenant in the property, at Willi-Becker-Allee 10, is the City of Dusseldorf education authority. The building also houses the consulates of the USA and the United Kingdom. The accommodation is fully let on long-term leases. The office complex also includes around 230 parking spaces in the multi-storey car park of Dusseldorf central railway station, which are rented from Deutsche Bahn, among others.

CBRE facilitated the transaction on behalf of the vendor. Mayer Brown provided legal advice to the purchaser. The purchaser’s technical due diligence was carried out by Chandler KBS.

Montano was mandated with the management of Munich's landmark property “Uptown Munich” and, at 146 meters, the tallest office building in the city in 2017. Through an active asset management approach, all office leases were renewed or extended during this time.

With a long-term extension of the anchor lease contract, a significant increase in value was achieved, which has now been realized in a share deal transaction to DIC Asset AG. In preparation for the transaction, the Uptown Vision 2030 concept was initiated to increase the attractiveness of the Uptown site and has been implemented since the beginning of the year.

In addition to Montano, BNP Paribas, Freshfields Bruckhaus Deringer (legal) as well as Drees & Sommer and TA Europe (technical) acted as consultants.

Montano Asset Management (Montano), partner and asset manager for institutional investors in the German commercial real estate market, has leased 1,800 square meters of office space in Hamburg's Airport Center office location to the Free and Hanseatic City of Hamburg on a long-term basis. The tenant's lease at Flughafenstrasse 52 will commence after completion of the extensive conversion work, probably in the 4th quarter of 2021.

District Office Director Michael Werner-Boelz explained, "The future location of the Department for Foreigners' Affairs is a real step forward: the new premises at the Airport Center are bright and friendly. In addition, it is excellently connected to public transport with the Fuhlsbüttel Nord subway stop and is therefore easy to reach for our customers."

The property has been successively modernized and re-let since its purchase in 2019. In the future, in addition to additional modernization measures, the opening of a canteen is also planned.

Julius Falcinelli, Head of Asset Management at Montano, commented, "We are convinced that, in addition to modern office concepts and good accessibility, the feel-good factor on site plays an increasingly important role in the location decision. With our new tenant and its customers and clients, we are creating even more of a campus atmosphere at Airport Center." The lease was brokered by Savills.

Montano Asset Management (Montano), partner and asset manager for institutional investors in the German commercial real estate market, performed outstandingly in 2020 and, over the year, Montano realised seven property transactions, with a total volume of EUR 275 million. EUR 218 million of this was accounted for by disposals, of mainly retail properties, which included the Neucölln Carree in Berlin and the B8 Center in Dusseldorf.

As at 31 December, Montano had attained EUR 1.6 bn of assets under management. The 536,000 square metres of accommodation in these properties comprises 80% office and 20% retail space. All the real estate assets are situated in Germany. In the fourth quarter of 2020, Montano effected its first purchase for a German institutional investor. Further acquisitions for this investor are anticipated in the 1st quarter of 2021. This demonstrates that Montano is significantly expanding its investor base, which was formerly concentrated exclusively on investors from outside Germany.

Montano is planning a transaction volume in excess of EUR 600 million in 2021, particularly in the retail, office and logistics / light industrial asset classes. In portfolio management, during the year Montano succeeded in concluding or extending 39 leases, involving over 70,000 square metres of accommodation. Ramin Rabeian, Managing Partner of Montano, explains: “We are very pleased that TTL Beteiligungs- und Grundbesitz-AG acquired a 30% stake in Montano Asset Management GmbH in December 2020. The inflow of funds from the resultant increase in capital will be applied by Montano not only to expand the institutional management business but also to realise value-add and warehousing transactions.”

Montano Asset Management (Montano), the partner and asset manager for institutional investors in the German commercial real estate market, has appointed Alexander Remy as Fund Manager. He became responsible for firm’s fund management at the beginning of January, as part of a planned expansion of the business.

Previously, Remy was, as Vice President in the portfolio management of DWS Real Estate, in charge of a global institutional instruction with a fund volume of EUR 800 million. Prior to that, he spent several years in business development at Union Investment, and in the transaction business at LaSalle Investment Management.

Alexander Remy holds a B.Sc. in Urban Design, Planning and Management from University College London (UCL) and an MBA in Corporate Finance from the IE Business School, Madrid.