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Macquarie to acquire property fund

Property_fundAustralia-based Macquarie Infrastructure and Real Assets (Mira), a division of the Macquarie Group, has acquired Munich-based real estate fund manager, GLL Real Estate Partners, for an undisclosed sum.

Following the transaction, Mira and GLL will together manage approximately €10.6 billion of property assets globally.

GLL’s founding partners, Rainer Göebel and Gerd Kremer and managing director, Dana Gibson will remain in their roles.

GLL’s portfolio consists of 100 property investments and development projects across the office, retail, and industrial real estate sector, with 44% of the portfolio located in Europe, 51% in the US and 5% in Latin America.

Global head of Mira, Martin Stanley, said the partnership was a significant step in the firm’s growth and diversification across the real assets sector and would result in a material expansion of its global real estate footprint.

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