AMBURG, Germany-Union Investment Group says it achieved record growth in 2013, with $3.14 billion (EUR 2.3B) in net sales, and 50 acquisitions totaling $3.8 billion (EUR 2.8 billion).

That record sales number was up from $2.45 billion (EUR 1.8) in 2012. Union also attracted approximately $1.9 billion (EUR 1.4B) in new capital commitments for its institutional real estate funds and expanded its institutional offering by adding six new real estate products. Compared to the previous year, this resulted in Union Investment's actively managed real estate fund assets increasing by 12% to $32.45 billion (EUR 23.8B). Union Investment is now the largest provider of this asset class in Germany (as at October 31, 2013).

“With returns of between two and three per cent, our real estate retail funds offer an attractive and stable investment option in the current low interest rate environment,” said Reinhard Kutscher, head of the real estate segment at the Union Investment Group. “Backed by our strong position in Europe, we plan to extend the international reach of our property investment activity in 2014 and also make managing our existing real estate holdings a high priority.”