GI Partner’s backed firm, Elystan Capital Advisers, has bought an office property in Munich, Germany, for an undisclosed price.
Elystan, which was formed in January 2010, is hoping to build up a portfolio of offices with potential to increase values, it said.
The property it has acquired is a 6,000 square metre office in Riem that is 78 percent occupied. The seller was a private investor.
The firm’s strategy is to build a real estate portfolio where value can be unlocked through restructuring and active asset management, said Elystan.
Elystan has been started by three funders, Keith Fischer, Robert Grassinger and Ulrich Kastner.
The Munich-based company targets mortgage backed assets and the mortgage banking sector in Germany, Austria and Switzerland.
Of the recent deal, Fischer said it demonstrated Elystan could be a partner of banks and their borrowers. “Our approach enables us to resolve difficult situations where the alternative outcome would be insolvency or foreclosure,” he said.
Last year, it worked with GI to target the acquisition of a bank to be used as a platform to expand and grow a mortgage lending business.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: 
