Macquarie Infrastructure and Real Assets (MIRA), part of Australia’s Macquarie Group, has agreed to acquire German real estate fund manager GLL Real Estate Partners for an undisclosed sum.

Munich-based GLL has 100 property investments and development projects across office, retail, and industrial real estate sectors. The company manages €7bn in assets and employs more than 130 staff in Europe, Americas and South Korea.

The company will now serve as MIRA’s real estate equity investment platform in Europe and the Americas, excluding Brazil.

However, GLL will retain its brand and will continue to be headed by founding partners Rainer Goebel and Gerd Kremer as well as managing director, Dana Gibson.

The combined group will oversee €10.6bn in real estate assets. The deal is anticipated to close in the second quarter of 2018, subject to regulatory nod.

MIRA global head Martin Stanley said: “This partnership is a significant step in MIRA’s growth and diversification across the real assets sector, and will result in a material expansion of our global real estate footprint. MIRA’s global platform and strong track record in fundraising combined with the real estate expertise of the GLL team positions us well to expand our offering to our respective client bases in the coming years.”

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