PGIM Real Estate has launched OmniLiv, a residential platform dedicated to developing and redeveloping micro-living properties for students and young professionals in Germany’s biggest cities. The platform is owned by PGIM Real Estate’s closed-ended European value-add strategy. With $212 billion in AUM, PGIM Real Estate is the third largest real estate investment firm globally1.
OmniLiv will focus on developing a portfolio of micro-living residential across the top seven German cities with a focus on Berlin, Munich and Frankfurt. The platform also has flexibility to partner with developers on projects. OmniLiv has already secured a strong pipeline of investments.
The rising population in urban areas and Germany’s growing international student market is providing a favourable backdrop for-rent residential, including micro-living and student housing, especially in cities with high density and growing young population. The platform aims to capture this demand from these young professionals and students, offering affordable, flexible and community-orientated living solutions in urban centers.
To run the platform, PGIM Real Estate is hiring a team of experienced specialists with strong expertise in acquisitions, developments and operations in micro-living and PBSA value-add investments in Germany. Rainer Nonnengaesser has been appointed to lead the platform, with over 20 years of experience, he joins from Amro Student Living where he was Head of Northern Europe.
Nabil Mabed, head of France, Spain and Portugal and senior portfolio manager for the European value-add strategy, comments: “Undersupply in the living sector is chronic and as one of the largest global investors in the living sector, we are noticing the needs of several demographic groups changing. OmniLiv focusses on meeting the changing needs of local residents in Germany by targeting supply constrained locations. We are confident that with the team appointed, led by Rainer Nonnengaesser who has strong local expertise and knowledge, we can aim to generate strong rental growth and alpha for our investors.”
Rainer Nonnengaesser, managing director at OmniLiv, adds “Lack of high-quality residential supply continues to drive investment opportunities across key cities in Germany. Backed by an experienced team and a strong initial deal pipeline, the platform has launched with strong momentum.”
Since launch in 2015, PGIM Real Estate’s European value-add series has a disciplined focus on Europe’s largest metropolitan markets, carrying out 35 transactions worth over US$3 billion across the UK, Germany, France, Spain and Italy. More than 70% of these transactions were sourced off-market.
ABOUT PGIM REAL ESTATE
With US$212 billion in gross assets under management and administration2, PGIM Real Estate provides investors and borrowers access to a range of realestate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum. PGIM Real Estate is a business of PGIM, the global assetmanagement business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s risk management approach, execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing3, and the local experience of professionals in 32 cities globally. Through its investment, financing, asset management and talent management approach, PGIM Real Estate engages in practices that strive to ignite positive environmental and social impact, while pursuing activities that seek to strengthen communities around the world. For more information visit pgimrealestate.com.
ABOUT PGIM
PGIM is the global asset management business of Prudential Financial, Inc. (NYSE: PRU). In 41 offices across 18 countries, our more than 1,400 investment professionals serve both retail and institutional clients around the world.
As a leading global asset manager, with US$1.4 trillion in assets under management4, PGIM is built on a foundation of strength, stability, and disciplined risk management. Our multi-affiliate model allows us to deliver specialised expertise across key asset classes with a focused investment approach. This gives our clients a diversified suite of investment strategies and solutions with global depth and scale across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. For more information, visit pgim.com.
Prudential Financial, Inc. (PFI) of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom, or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.
1 PGIM Real Estate is the third-largest real estate investment manager (out of 76 firms surveyed) in terms of global real estate assets under management based on Pensions & Investments’ Top Real Estate Managers list published October 2023. This ranking represents global real estate assets under management by PGIM Real Estate as of 30 June 2023. Participation in the ranking is voluntary and no compensation is required to participate in the rankings.
2 As of 30 Sept 2024; net AUM is US$132 billion and AUA is US$47 billion.
3 Includes legacy lending through PGIM’s parent company, PFI.
4 As of 30 Sept 2024.
