28 Februar 2022
(Berlin, Germany, February 28, 2022) Starling Real Estate Asset Management GmbH & Co. KG launched its business as an independent specialist in asset management for office properties in Germany. Founded by York von Pannwitz, the Frankfurt-based company is a spin-off of Finch Properties. At start, the company manages assets with a total value of 550 million euros.
Joining from the predecessor company, the seasoned team of asset managers has a track record of more than 1.1 billion EUR in investment volume since 2014. The blended IRR realized is more than 28.5%. Among the investments are highly successful landmark projects such as the Pollux and the golden house in Frankfurt.
"Our focus lies on identifying and developing outperformers," says York von Pannwitz, founder and managing director at Starling. "The Frankfurt market offers tremendous opportunities if one has the expertise to tap into the potential. We have a strong track record in that regard." Starling aims to acquire mandates from national and international real estate investors. In the years ahead, the company intends to gradually expand into other German markets.
With the Main Airport Center (MAC), Starling has already won its first major third-party mandate. Since 2019, the asset has been majority-owned by Singapore-based CapitaLand Commercial Trust (CCT). The MAC has been one of the most distinctive and efficient office buildings in the ‘Airport City Frankfurt’ since its completion in 2004. It covers 11 floors and features a total of 61,000 sqm of letting space, including 54,000 sqm of state-of-the-art office space. Its underground car park has capacity for more than 1,500 cars. The building’s occupancy rate currently is at more than 90 percent with a well-diversified tenant structure. Among the largest tenants are global brands such as Lufthansa and Dell. "We are delighted to have been entrusted with such an exceptionally prominent building at this attractive location right from the start," says York von Pannwitz.
At launch, Starling also takes over the asset management for the real estate portfolio of Finch Properties, which is now operated by its sole shareholder Achim Tillmann under the roof of the Finch Property Holding. The portfolio comprises two properties with a total area of 66.000 sqm.
Further information about the newly founded company on www.starling-ream.de.
About Starling Real Estate Asset Management
Starling Real Estate Asset Management is an independent specialist in asset management for office properties in Germany. The company was founded in 2022 by York von Pannwitz as a spin-off of Finch Properties Asset Management. Starling is owner-operated and acts as an independent full-service provider. The focus lies on identifying and developing outperformers, with which the experienced team has an extensive track record: since 2014, it has managed and repositioned assets with an investment volume of €1.1 billion and 152,000 sqm of leasing space for international investors. The blended realized IRR is more than 28.5%.
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Volker Binnenböse
Binnenböse Communications
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