Real estate fund manager, Hamburg Trust, has appointed Sydney-based Cornerstone REIM to source investments in Australia and New Zealand as it looks to increase its geographical exposure.
In an announcement today, Cornerstone REIM managing director Dirk Hasselbring said the appointment was reflective of “strong interest” from European institutional investors in real estate in the two countries.
Hasselbring, a formal capital transaction executive of investment management firm, GPT Group, said Cornerstone has been charged with sourcing direct investments in single commercial real estate assets that deliver secure income streams with strong annual growth and the potential for capital growth.
It will source the investments for Hamburg Trust’s fund range which includes a value-added fund as well as core vehicles. The firm has a total of more than $1.1 billion in funds under management, according to the announcement, from both closed-ended funds and “tailor made special real estate funds”.