Redevco, part of COFRA Holding AG, is a pan-European real estate investment management company with a clear focus on vibrant locations across Europe.
As a partner in urban real estate, we invest in properties with a view to developing future-proof buildings in dynamic urban locations. Our aim is to contribute to making urban centres more interesting places in which to live, work and play, by providing the best possible estates that will meet the needs of the different occupier groups while delivering attractive returns to our investor clients. We currently manage a portfolio of 280 assets across 12 countries (year-end 2019: 297). These properties comprise 2.4 million m2 of space, represent more than 1,900 tenancies, and are worth €6.7 billion (year-end 2019: €7.4 billion). Our total portfolio value shows a decrease at the end of 2020 due to the impact of COVID-19: the forced closure of many of our retail tenants’ shops across Europe for numerous months in 2020 had an impact on rental income. At the same time, the negative investment sentiment around retail real estate has put downward pressure on the valuation of properties. This has resulted in a drop in total portfolio value.
What we do
Our team of 197 professionals provides clients with a full range of real estate investment management services, including strategy creation, acquisitions, rent and lease management, maintenance and development and divestments. We create value by finding and effectively managing the best properties in the most attractive urban locations. We use our thorough understanding of the real estate sector as well as research into the most attractive urban locations to build solid investment strategies for our investor clients and customers. In 2020 we announced our ambition to grow and diversify into other real estate asset classes in urban environments that are best suited to delivering lasting value. We are now harnessing our retail real estate experience to create vibrant and future-proof destinations in the urban realm.
How we do it
Our business is built on three pillars. First, we have deep-rooted local capabilities that allow our country teams to buy, develop, let and manage properties that are ideally suited to the needs of our tenants. Second, we design and manage our specialist fund strategies to anticipate and respond to constantly-changing occupier markets, which helps us focus on locations with the most relevant, sustainable and inspiring real estate. For our investors, this approach translates into solid returns. Third, Redevco’s scale and international footprint enable us to leverage the collective knowledge of our local, country-based, fund management and specialist teams.
Our mission and beliefs
Redevco’s mission is to be your trusted partner in urban real estate. Cities being our main investment locations where our purpose is to help them become healthy and vibrant living environments. We use our knowledge and expertise to:
- Improve sustainability and reduce the environmental impact of our portfolio, accelerated by signature projects that enable us to learn by doing.
- Reduce the housing shortage in major cities by investing in affordable and sustainable residential units.
- Restore and maintain historic buildings that contribute towards preserving urban heritage.
- Create vibrant, mixed-use locations that also foster activities within the cultural, educational, charitable and community sphere.
- Create alternative business models and additional revenue streams by using technological innovation to drive performance, sustainability and the user experience.
How we govern
On January 1, 2021, we adopted a new organisational structure to drive our growth and diversification strategy. In this context the aim is to increase speed, agility and focus as a platform, while maintaining Redevco’s strengths in local markets through our pan-European network of expert investment and asset management teams on the ground.Redevco’s Board has therefore delegated day-to-day management into five global functions (see figure 1.5). These global functions help to integrate decision-making and ensure accountability for Client & Fund Management as well as our operations as an investment manager. Each function focuses on a particular part of the business as it prepares and implements Board and Management Team decisions in its respective area of expertise.The Management Team consists of the Redevco Board, the Co-Heads of Client & Fund Management and the Head of Global Transactions. The Management Team reaches decisions collectively so that they can be properly and speedily implemented across all of Redevco’s activities.
The Investment Committee, chaired by our CEO, makes all investment and divestment decisions. Its members include the CFO and the Head of Global Transactions, the Managing Directors of Transaction Management and the Managing Directors of Fund Management. The purpose of the Information Security Committee (ISC) is to advise the Management Board in fulfilling its oversight responsibilities with regard to Redevco’s information security programmes and risks. The ISC consists of the CFO, General Counsel, the Head of Governance, Risk and Compliance, the Head of Information Technology and the Manager IT Infrastructure & Support.