The European Real Estate Platform
DeA Capital Real Estate is an investment management business focused exclusively on European real estate, with a network of six offices of 180 local experts in Frankfurt, Madrid, Milan, Munich, Paris, Rome and Warsaw.
We offer best-in-class pan-European asset management with an experienced and stable senior team, boasting an excellence in acquiring, developing, financing, leasing, managing and disposing of assets. We have practical experience in the structuring and managing of investment vehicles, whilst always maintaining our fiduciary responsibility to clients.
DeA Capital Real Estate manages €13.1 bn in assets through 55 real estate vehicles and holds approximately 700 assets predominantly across gateway cities in Europe.
The business invests in various geographies and markets, across sectors, including mixed use, logistics, offices and living (encompassing student accommodation, hotels and flex living, senior care and build to rent/sell). DeA Capital Real Estate invests, from ground-up, sustainable developments to the managing and holding of the highest quality core assets.
Since January 2019, DeA Capital Real Estate has adhered to the PRI, a United Nations initiative created in 2006 to promote the adoption of ESG principles in asset management.
LOGISTICS: Logistics demand continues to increase, due to the resilience of occupier demand. There is a preference for assets that can achieve rental growth, as well as existing or easily attainable ESG credentials. DeA Capital RE holds € 1.7bn of logistics assets across Europe, representing 15% of total AUM and continues to grow its exposure.
LIVING: Driven by compelling fundamentals, the institutional residential (or living) sector continues to grow at pace, albeit with caution due to the rising costs of debt and construction costs. DeA Capital Real Estate is spearheading several living initiatives across Europe, including PBSA (purpose built student accommodation), BTR (build to rent), BTS (build to sell), hospitality (hotels, serviced apartments, flex/co-living) and senior living. Rising student numbers, an ageing population and a general housing shortage has led to an insatiable appetite for the sector. DeA Capital Real Estate is accelerating its presence across Europe in the living sector via a number of targeted joint ventures.
HOSPITALITY: Increasing demand for tourism post-Covid has translated to record ADRs (average daily rates) and further institutionalisation of the hospitality sector. This has thus far been predominantly in business and city focused hotels, though we believe this proliferation will expand to leisure locations. Our footprint across Europe will provide us with an increasing number of opportunities in the hospitality sector.
OFFICES: The office sector remains the largest in Europe in terms of investment volumes, despite the generally negative sentiment of its prospects. Indeed, it has been the sector most affected by repricing in recent quarters. However, tenants continue to seek solutions to improve employees’ work-life balance and reduce consumption and energy costs. Offices are therefore expected to generate attractive investment opportunities for those assets in strategic locations and those capable of implementing high-quality specifications.
RETAIL: DeA Capital RE has witnessed a longer period of repricing compared to other sectors, partially due to the impact of Covid on customer behaviour. In attractive submarkets, the sector has started to stabilise, with vacancy even reducing in some locations.
Investment principles & strategy
- Alignment of interests
DeA Capital Real Estate will always ensure the structure of any investment aligns interests between us and our partners. We are co-investors alongside our partners into investment opportunities.
- Large pan-European network
Our network of local offices ensures that we have a close and regular working relationship with major investment firms, agents, vendors and banks across Europe.
- Deep regulatory and compliance experience
Authorised alternative investment fund manager in Italy and Luxembourg with experience of setting up vehicles in several other locations. Long track record dealing with regulatory bodies across multiple jurisdictions.
- History and track record
DeA Capital Real Estate was established in October 2011 as the result of the incorporation of First Atlantic RE SGR S.p.A. into FIMIT SGR. The company combined two of the largest real estate investors in the Italian market. In 2017, the company formerly known as IDeA FIMIT SGR was rebranded in DeA Capital Real Estate SGR.
In 2018, the asset manager began the set-up of a pan-European real estate platform with the purpose of offering asset and investment management services across France, Spain, Portugal, Germany and Poland.
DeA Capital Real Estate has since attracted domestic and international investors, including pension funds, financial institutions and sovereign wealth funds.
With 55 vehicles under management of which 2 are listed on Borsa Italiana,1 SICAF and 1 Luxembourg law Fund, for a total of € 13.1bn of AUM and a total volume of acquisition and disposals of c. €2 billion combined for the year ending 2022, DeA Capital Real Estate is able to provide an extensive track record across the risk spectrum.
- Asset management capabilities
DeA Capital Real Estate boasts in depth knowledge of asset management, ranging from strong tenant and service provider relationships, ground up development capabilities to heavy capex programmes of landmark assets, we have shown we are able to successfully deliver on a wide range of initiatives with local expertise.
The information contained herein is subject to change, does not purport to be complete and is qualified in its entirety by other information that may be subsequently provided.
None of the information in this profile is intended to give rise to any legal claims for performance, damages or of any other nature against DeA Capital Real Estate SGR or any of its affiliates or their respective officers and employees. Such claims would have to be based on separate, legally binding agreements which are not intended to be implicitly included in this profile or the provision thereof to the recipient.
Although this profile has been compiled with care, neither DeA Capital Real Estate SGR nor its advisors nor their respective affiliates, partners and employees make any representation or warranty as to the accuracy or completeness of the contents of this information and take no responsibility for any loss or damage differed as a result of any omissions, inadequacy or inaccuracy herein (except in the case of willful misconduct). While we are of the view that the information and interpretations contained in the profile are correct at the time that this profile is being published, please note that facts and realities may change over time due to changes in general market conditions or the legal environment or for other reasons. We undertake no obligation to update this profile at any time in the future. Statements contained in this profile, that are not historical facts, are based on current expectations, estimates, projections, opinions and beliefs of DeA Capital Real Estate SGR.