Patron appoints advisor to invest €1bn in Germany

The London-based firm has hired Pramerica’s European CIO Georg von Hammerstein to focus on new investments in Germany and German-speaking countries.

London-based private equity and real estate firm Patron Capital has appointed Georg von Hammerstein as a senior advisor within the firm. Effective immediately, von Hammerstein will be working with Patron’s existing investment teams and focusing on new investments in Germany and German-speaking countries.

Germany represents a core market for Patron, with approximately 6 million square feet of land and buildings currently under management. Patron intends to invest more than €1 billion in the region over the next two years.

“We have a strong appetite for real estate in Germany and are dedicated to spending considerable amounts of our investment capital and internal capacities on opportunities in this region,” said Patron’s founder Keith Breslauer. “With the benefit of [Georg’s] knowledge of the German markets, and working together with Christoph Ignaczak and the German teams in London and Frankfurt, we can enhance our position as a significant investor in the German market.”

Von Hammerstein has 25 years of experience in the German and European real estate markets, working in senior positions across most asset classes, predominantly commercial real estate. His experience includes debt to equity financing, joint venture management and development as well as investments for institutional funds and family offices. 

For the last 14 years, von Hammerstein worked for Pramerica Real Estate Investors, spending the last six years as chief investment officer for Europe. Prior to Pramerica, he was with Helaba Bank and real estate subsidiaries of Commerzbank and Deutsche Bank.

“There are compelling investment opportunities in Germany, and I look forward to working with the successful team at Patron to acquire, manage, redevelop and reposition properties to deliver value,” said von Hammerstein.

In September, Patron closed Patron Capital IV on €880 million of equity, making it the largest European private equity real estate fund last year. Following the close of Fund IV, the firm has allocated approximately half of the equity, which includes discretionary co-investment capital.