German pension fund acquired 15 % of ZEITGEIST Asset Management
Prague, 13 of June, 2017
German pension fund has acquired a share in the asset manager ZEITGEIST through its Luxembourg subsidiary.
ZEITGEIST Asset Management is a Real Estate Developer and Asset Manager operating in Germany and Central Eastern Europe (CEE). ZEITGEIST focuses on the purchase of value-add objects, which are then being developed, renewed and rented out. The aim is to build a sustainable portfolio of rental properties in CEE. ZEITGEIST also runs a student housing platform through its subsidiary ZEITRAUM.
Peter Noack, co-founder and CEO, commented, "We are very pleased to have taken a further step in the development of our company. Our common interest is to strengthen our company as a market-renowned and internationally recognized project developer and asset manager under the branding platform "ZEITGEIST", both for institutional and private investors in Germany and CEE. Within the next three years, we aim to achieve a volume of approx. EUR 1 billion assets under management."
About Zeitgeist Asset Management
Zeitgeist Asset Management, with its offices in Prague and Berlin, is a Real Estate Developer and Asset Manager for private and institutional investors in Germany and Central Eastern Europe. Zeitgeist manages assets worth EUR 213 million, leases out a total area of 207,100 square metres to tenants and has plots of land of 405,500 square metres at its disposal.