Germany’s Aareal Bank invests in UK real estate platform BrickVest
Germany’s Aareal Bank says it plans to acquire a stake in BrickVest, the London-based online platform for commercial real estate investments.
The acquisition is subject to contractual agreement and the terms are not disclosed.
BrickVest offers access to institutional-class real estate investment for professional investors. It says it is the only fully regulated online platform of its kind in Europe.
Emmanuel Lumineau, CEO of BrickVest, adds: “This is another important growth milestone for our firm and underlines our decision to become an Alternative Investment Fund Managers Directive (AIFMD) compliant platform from the start. Aareal brings our vision to an international level and is a strong supporter of an open and liquid platform open to all industry players.”
Aareal is the second German bank to acquire a stake in BrickVest, following Berlin Hyp’s investment in October 2017.
“BrickVest is a proven start-up with a comprehensive understanding of real estate, capital markets, regulation and technology,” says Hermann J. Merkens, CEO of Aareal Bank.
The bank says that this investment is part of its digitisation strategy, which it calls Aareal 2020 programme.