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Aerial view of New York. In the foreground: Manhattan.
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The asset manager Commerz Real has opened a representative office in the USA for the first time in New York City. So far, the company had apparently managed the US real estate portfolio worth at least 3.2 billion US dollars without a direct on-site presence.
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With the address 225 Liberty Street, the new representative office in Lower Manhattan is not far from Wall Street, reports Commerz Real. “The United States is an extremely exciting market that offers attractive opportunities, particularly in the gateway cities,” explains Henning Koch, CEO of Commerz Real. The real assets subsidiary of Commerzbank has been investing there since 2004 and, according to the information, has now built up a portfolio of twelve properties worth around 3.2 billion US dollars via its open-ended real estate fund Hausinvest.
“In order to manage this even better and expand it further, a direct on-site presence is ideal,” says Koch. Six office properties account for the largest share in the portfolio at around 2.1 billion US dollars. There are also four hotels worth around 914 million US dollars and two shopping centers with around 158 million US dollars. The most recent acquisition was the “1900 N Street” office property in Washington, DC, in June 2022.
Expansion also in the field of renewable energies
In North America, the commitment in the field of renewable energies is also to be expanded. Commerz Real has been investing in solar energy for private investors since 2005 and in wind turbines and other energy infrastructure segments for institutional investors since 2016.
With the Klimavest, the company also launched a fund for private investors in 2020, which invests specifically in the infrastructure to achieve the UN climate goals and the Green Deal of the European Union. The company currently manages more than 50 solar power plants and over 30 onshore and offshore wind farms in Germany and Europe with a total nominal output of more than 1.4 gigawatts.
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