Wiesbaden, 8 October 2018 – Aareal Bank Group continues to advance its digitalisation initiative and intends to participate in BrickVest, one of the leading European online platforms for commercial property investments. The planned acquisition of a non-controlling interest is anchored in a framework agreement and is subject to the final due diligence and documentation. Both parties have agreed not to disclose the conditions of the planned transaction.
BrickVest, headquartered in London, is the only online platform in the European property sector that is fully regulated by the financial supervisory authorities. With its platform, the company aims at addressing the entire range from equity to mezzanine to senior financings in an easy and cost-efficient way.
Aareal Bank is already the second renowned German bank to commit to BrickVest. By entering BrickVest, Aareal Bank as a leading international provider of commercial property financing participates in a digital model for the future, which will become increasingly important for commercial property financing over the next few years.
Chairman of the Management Board Hermann J. Merkens explains: "BrickVest is a start-up company that has a comprehensive understanding of real estate, the capital market, regulations and technology. It therefore perfectly fits our commitment to innovation and digitalisation, which is also one of the main strategic directions of our "Aareal 2020" programme for the future. By investing in BrickVest, we consistently pursue this path."
Thomas Schneider, co-founder and Chief Investment Officer at BrickVest: "We are delighted to have won over Aareal Bank as our partner ‒ it is already the second renowned financial institution we are working with. This proves that it has been worthwhile to opt for full regulation from the outset. It also represents another important milestone on our growth path, especially for our B2B platform BrickVest Select which is aimed at professional investors and deal sponsors in the fields of equity, debt and mezzanine."