May 31, 2023HENDERSON PARK ACQUIRES MAJORITY STAKE IN GERMAN RESIDENTIAL PLATFORM, GBI, TO ACCELERATE GROWTH
London/Berlin, 23. November 2022 – GBI Holding AG (“GBI”), is pleased to announce that Henderson Park, the private real estate investment fund manager, has agreed to acquire a majority stake in GBI, on behalf of one of its Funds. The transaction is subject to standard market conditions and is expected to close before the year end.
Henderson Park plans to build on the successful track record of GBI’s management team who remain integrally in place and have developed a €1.5 billion portfolio of diversified Living assets across Germany over last six years. Henderson Park’s capital support will enable GBI to accelerate its growth path with a focus on sustainable and ESG-compliant real estate projects in subsidized and private market residential, serviced apartments, student housing and senior living concepts, under its established SMARTments brand. Through its projects, GBI addresses the significant need and demand for affordable living in Germany and has earned a strong reputation as a reliable partner for local authorities, municipalities and institutional stakeholders throughout the country.
Reiner Nittka, CEO of GBI, comments: “We welcome Henderson Park as our new majority shareholder. We share the same vision as Henderson Park, who is investing on behalf of institutional clients with a strong focus on ESG. Equally, we are pleased that the Moses Mendelssohn Foundation, GBI’s former majority shareholder, will stay invested in the company with a minority stake and our existing cooperation will continue.”
Christophe Kuhbier, Managing Director at Henderson Park, adds: “GBI’s management team has built an impressive business and we are looking forward to supporting its continued growth and to further cementing the SMARTments brands as a leading operator of living accommodation in the German market. There is clear demand for the ESG-compliant real estate that GBI has a track record of delivering, and we’re confident in our ability to jointly scale the platform, whilst working in close coordination with GBI Capital’s investors to accelerate quality new home developments.”
Rothschild & Co acted as financial adviser to GBI in relation to this transaction.
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|Ludwig Medien & Kommunikation, for GBI Wolfgang Ludwig E: firstname.lastname@example.org||+49 (0)221 292 192 82|
|FTI Consulting, for Henderson Park||+44 (0)20 3727 1000|
|Richard Sunderland / Ellie Sweeney / Andrew Davis|
NOTES TO EDITORS:
GBI is a real estate developer focusing on subsidized and free-financed residential, hotels, student housing and serviced living concepts under the SMARTments brand. Since its foundation in 2001, GBI has sold real estate projects in Germany and Austria with a volume of around €2.5 billion Euros. GBI also operates serviced, student and (senior) living apartments under its SMARTments brand and has set up an investment management arm via its GBI Capital subsidiary. http://www.gbi.ag
About Henderson Park
Henderson Park is a leading global private real estate fund manager headquartered in London. Since its formation in 2016, the firm has invested approximately $13 billion in building a portfolio of flagship real estate assets across Europe, with a presence in major cities and capitals in France, Germany, Greece, Ireland, Italy, Poland, Portugal, Spain and the UK. Henderson Park seeks high quality assets in prime locations where it can identify the potential for unlocking or creating value through asset management, or by taking on and working in complex situations. The company’s current portfolio is diversified across various sectors such as office, logistics, multifamily, student housing, hospitality and retail, including several real estate development projects. Henderson Park strives to work and build long-term strategic relationships with the best local partners.
Henderson Park is a signatory of the UN PRI.
Visit www.hendersonpark.com for more information.