Union Investment opens new office in London

Hamburg-based Union Investment Real Estate has opened a new office hub in London, expanding its direct presence in Europe’s key property markets.

This is the firm’s sixth office outside Germany. Union Investment said the goal is to gradually establish a fully integrated team of specialists in various disciplines who will cover the entire property lifecycle. The initial team of three local-investment and asset-management experts working out of the London office will be responsible for the U.K. and Irish real estate markets, where Union Investment currently has about €4.3 billion ($4.5 billion) of real estate assets under management.

Union Investment has invested about €1.4 billion ($1.5 billion) in London and the United Kingdom’s regional markets since the Brexit referendum, while Ireland has become significantly more important for Union Investment over the past two years across the office, residential and logistics asset classes.

“By opening an offic