NREP to acquire the mortgage business of M3 Capital Partners

Nordic property manager NREP has agreed to acquire the mortgage business of a global investment and advisory firm M3 Capital Partners to relaunch its German activity, a spokesperson confirmed Thursday.

Financial terms of the deal were not disclosed.

In the deal, NREP initially acquires a minority 49% stake in the property manager business, a spokesperson said. The remaining stake will be acquired by early 2024, she said.

NREP’s assets under management will increase to € 14 billion ($ 15.8 billion) with the addition of M3’s € 1 billion in assets.

M3 real estate funds invest in mezzanine loans and full loans for prime real estate assets in the largest cities of Germany. The company’s new strategies to be launched in 2022 will focus on green and sustainable loans.

“This transaction marks an important milestone for NREP in our continued efforts to address urban ecosystem challenges across geographies,” said Claus Mathisen, CEO of NREP, in a press release Thursday. “Following our entry into Poland, this latest expansion into Germany with a focus on green finance solutions further strengthens our non-Nordic footprint while meeting our aspirations to provide clients with exposure to a diverse range of products from property investment “

M3 Capital Partners has $ 14.2 billion in assets under management, according to its website.

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