German fund manager makes UK affordable housing launch
German real estate fund manager PMM Group has appointed Aziz Gani as director of acquisitions to grow a portfolio of affordable housing in the UK.
PMM is the property advisor to Phoenix Spree Deutschland, a listed real estate company with €600m of residential assets in Berlin.
It also owns a number of specialist mortgage portfolios on behalf of institutional funds and provides senior and mezzanine debt for commercial property in the UK and Ireland.
German real estate fund manager PMM Group has appointed Aziz Gani as director of acquisitions to grow a portfolio of affordable housing in the UK.
PMM is the property advisor to Phoenix Spree Deutschland, a listed real estate company with €600m of residential assets in Berlin.
It also owns a number of specialist mortgage portfolios on behalf of institutional funds and provides senior and mezzanine debt for commercial property in the UK and Ireland.
Gani will focus on identifying secure assets that provide low risk and inflation-linked sustainable returns.
He has 15 years of experience in housing, most recently as head of land and new business for Mears Group. Previously he has worked at Countryside, One Housing, Swan Housing and L&Q.
Institutional investors are increasingly turning to housing associations for investment opportunities, which are typically counter-cyclical and supported by stable cash flows, government support, and regulatory oversight.
Legal & General launched its affordable housing arm two years ago, M&G Real Estate is in the process of launching its own Registered Provider and setting up an affordable fund dedicated to shared ownership housing, and Aberdeen Standard Investments recently pivoted its BTR strategy to include more affordable assets.
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