Germany’s Ernst Russ has made a major play in the property market with the addition of a majority stake in WestFonds Immobilien-Anlagegesellschaft (WestFonds).
The company, formerly known as HCI Capital, snapped up the business, which has investments of EUR 540m, from Erste Abwicklungsanstalt AoR (EAA).
Ernst Russ explains in a statement the move continues a strategy to grow its real estate activity and notes the WestFonds portfolio includes 12 real estate funds, largely invested in Germany, with 15 office and hotel properties.
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