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TMW Immobilien Launching German Funds

MUNICH, GERMANY-The locally based arm of Parsippany, NJ-based Prudential Real Estate Investors establishes an investment trust to create open-ended real estate funds in Germany for institutional investors.

By Brian K. Miler | Updated on March 04, 2004

MUNICH, GERMANY-TMW Immobilien GmbH, the locally-based arm of Parsippany, NJ-based Prudential Real Estate Investors has established an investment trust to create open-ended real estate funds in Germany for institutional investors. The trust will initially pursue two strategies: shopping mall opportunities and properties that offer investors the potential for high and reliable yields from Europe’s secondary locations.

The news follows TMW’s recent receipt of a kapitalanlagegesellschaft (KAG) license from the German Federal Financial Supervisory Authority that allows the formation of the trust. “With the creation of the KAG we can now broaden our platform to offer institutional clients additional opportunities to invest in global real estate strategies,” says TMW managing director Klaus Trescher. “This venture will allow us to build on our current concentration of investments in continental Europe, as well as in the U.S. and Asia.”

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