Hamburg, 15.02.2022 - The real estate and investment company Becken is continuing its Germany-wide expansion course and has reached one of the most significant milestones in the company's history with the acquisition of a majority stake in the residential real estate asset manager INDUSTRIA WOHNEN. As a specialist in project development, revitalization, asset and investment management for commercial and residential properties, Becken was also able to expand its project development pipeline to 15 projects in the 2021 financial year by acquiring four plots of land. This increased the total project volume to around EUR 2.1 billion. The sales volume totaled 300 million euros in the past year.

Becken also added a property in Frankfurt-Sachsenhausen to its own commercial real estate portfolio in 2021. As a result, the real estate assets under management increased to ten properties with a volume of around 535 million euros as at December 31, 2021. In the Funds and Investment Management division, the Mezzanine Debt Fund (REPE) was further expanded and an ESG-compliant Article 8 portfolio fund was launched with the Solid Office Funds. The number of employees rose by 10 to 85 as a result of the strong growth. These mainly strengthen the locations in the Development division.

Jörn Stobbe, Spokesman of the Management Board of Becken Holding GmbH and Chairman of the Supervisory Board of INDUSTRIA WOHNEN, comments: "2021 was all about growth across Germany at Becken. In addition to expanding our project development and investment business, we were able to make an inorganic leap in growth by acquiring a majority stake in INDUSTRIA WOHNEN. With EUR 4.5 billion in assets under management in the residential segment, INDUSTRIA WOHNEN is a very attractive company. We will support the further expansion of INDUSTRIA WOHNEN in the long term." Jörn Stobbe adds: "We will grow even more strongly in 2022, particularly through our ESG expertise. We will therefore continue to expand our investment and real estate activities and enter into further strategic partnerships."

Investment management: mezzanine debt fund and Article 8 portfolio fund

Becken can also report further successes in the area of funds and investments. Becken has returned initial capital to its investors via its company BECKEN Invest for the mezzanine debt fund REPE 1. To this end, a co-financed residential property in Hamburg was successfully realized. The return on the first project at investor level and after fund costs is over 20 percent (IRR). The "REPE Funds" is a mezzanine debt fund for institutional investors and family offices. It is organized under Luxembourg law and invests in office and residential project developments by Becken in major German cities. The second sub-fund, REPE 2, is now invested in four projects and is therefore 80 percent invested. Prof. Dr. Michael Becken, Managing Director of BECKEN Invest GmbH, says: "We are currently planning a third sub-fund, REPE 3, with a target volume of around 100 million euros. Two specific major projects have already been secured for this."

Becken Invest has used the past year to make its open-ended special AIF "Solid Office Fund I" (SOF I) ESG-compliant. Michael Becken explains: "BaFin approved SOF I as an existing Article 8 fund in May 2021. We were able to connect the first investors at the end of the year. The fund is therefore heading towards its first closing." In addition, a letting success was achieved for the first fund property "Bei den Mühren 1". As part of a so-called green lease, the property has been let to the global company Regus on a long-term lease for 16 years. Michael Becken comments: "We are delighted that the office real estate market is coming back to life and that demand is gradually rising to pre-corona levels. This confirms us in our product, even if the future will of course be about more flexibility and sustainability in the office segment. We are ideally equipped for this with SOF I."