Aachen reason - Aachener Grund

Aachen real estate capital management company with limited liability

Logo
legal form GmbH
founding 1973
Seat Cologne , Germany
management Georg Heinze, Frank Wenzel
Number of employees 123[1]
sales € 28.7 million [1]
Branch Investment company
Website www.aachener-grund.de
As of December 31, 2018

BW

The Aachener Grundbesitz Kapitalverwaltungsgesellschaft (short: Aachener Grundgeld or Aachener Grund ) was founded in 1973 to offer only Catholic wealth holders in Germany the opportunity to invest indirectly in real estate. Today it is open to all churches and also to private parties. It is a fund company based in Cologne that indirectly belongs to several Catholic dioceses . [2]

Corporate goals

Kaufhof in Bonn

Aachener Grundbesitz acquires real estate, repairs it and adapts it to changed framework conditions. In doing so, it makes a significant contribution to the development of inner cities. This applies to real estate in established locations. One does not acquire shopping centers on the green field, which sprawl landscapes and trigger superfluous traffic. By investing in the urbanity of inner cities that has grown over the centuries, it supports the quality of stay for people. Well-functioning inner cities combine an appealing appearance that creates a home and identity with a grown combination of living, meeting, working, learning about education, spending free time, experiencing culture, shopping, enjoying gastronomy and practicing religion. Aachen's basic assets want to strengthen these inner cities. Also in connection with necessary revitalization and project developments in order to adapt the real estate to the times. The mixture of retail, residential and office in your real estate, as well as gastronomic and cultural uses, are desired.

From the point of view of Aachen's basic assets, the following applies to the urban city: What has been created over centuries has the chance to last for centuries. Maintaining the cultural area in its grown shape also means treating the natural environment with care. The economic activity is designed to provide a sustainable basis for life and prosperity. Mixing rather than separation of functions is respected and the inner city is seen as an experienced public space, because “urbanity is an important source of social wealth”. [3]

property

Marble house

Real estate in grown inner-city prime retail locations as well as residential real estate and social real estate (e.g. nursing homes) are the focus of the investment in Germany. Retail properties are also acquired and managed in Switzerland and the Netherlands. The properties are acquired for permanent existence. In 2018, the property portfolio comprised around 376 properties, mainly in prime shopping locations in the centers of major German cities. Well-known properties in the portfolio include the marble house in Berlin and Anger 1 in Erfurt. [4] The department store renovation of Galeria Karstadt Kaufhoftherefore affects the Catholic Church with the rental of six houses, especially since rent reductions of 50% could not prevent closings. [5] At the beginning of January 2020, AACHENER GRUNDVERMÖGEN acquired the "Schloss Residenz Ahrensburg" project from TERRAGON AG and was able to conclude a 25-year lease. [6]

business development

When it was founded in 1973, the business purpose of the then newly launched Aachener Grund-Fonds Nr. 1 was exclusively to offer Catholic wealth holders in Germany the opportunity to invest indirectly in real estate. Further special funds and, with the Aachener Spar- und Stiftungs-Fonds, another public fund, were launched. Since 2003, funds have also been set up for non-church, institutional investors who have invested mainly social capital. Private persons cannot acquire shares in the investment funds of Aachener Grundbesitz.

Since 2006, Aachener Grund has quadrupled the value of its managed special assets from 1.7 billion euros to 6.8 billion euros. During this period, the number of funds launched rose from six to seventeen. The real estate portfolio, on the other hand, grew comparatively moderately from 235 to 374 properties. [7] This reflects the company's strategy of concentrating its commitment on high-quality top properties in prime retail locations. In October 2013 there were 2,400 to 2,500 investors. [8th]

As of March 1, 2018, the company managed a fund volume of 6.8 billion euros in 17 real estate funds set up for this purpose ; the share capital is 10 million euros.

Ownership

Aachener Grundgeld manages 15 real estate funds as trustee. The special assets (€ 5.8 billion) and the assets of the Aachen property (balance sheet total € 31.4 million) are strictly separated from each other. The Aachener Grundbesitz is 100% owned by the Catholic Church through a shareholding. The sole shareholder is the Aachener Siedlungs- und Wohnungsgesellschaft mbH based in Cologne. Its shareholders are the Archbishop's See in Cologne (41.5%), the Archbishop's See in Paderborn (16%), the Episcopal See in Trier (13.5%), the Episcopal See in Münster (10.7%), the Diocese of Essen (9.4%) and the Episcopal See of Aachen (8.9%). The supervisory board of Aachener Grundis made up exclusively of representatives from the financial administrations of German dioceses, the orders and the ecclesiastical banking sector. [9] [10]

Weblinks

Individual evidence

  1. a b Federal Gazette Annual Report 2018
  2. "Exclusively for the Church in Germany - Real estate is a cornerstone of church assets"
  3. "Cultivating urban urbanity based on values"
  4. Retail properties - selection from our portfolio . , accessed April 30, 2018
  5. WirtschaftsWoche on renovation
  6. Details about the project
  7. Annual accounts. "Aachener" Grund Vermögens-KVG mbH, accessed on July 22, 2018 .
  8. Interview October 2013 with the managing director
  9. Commercial register. Register court Cologne, accessed on April 4, 2012 .
  10. Report on the transparency offensive, accessed November 29, 2013


Coordinates: 50 ° 57 ′ 16.9 ″ N , 6 ° 58 ′ 10 ″ E