Commerz Real
Commerz Real AG is a German alternative asset manager (Commerzbank subsidiary) managing ~EUR 55B in real estate, renewable energy, and infrastructure funds for retail and institutional investors, including hausInvest, klimaVest (largest EU ELTIF), and infraVest, plus Commerz Leasing for German Mittelstand.
- Company typePrivate
- Founded2007
- HeadquartersWiesbaden, Germany
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Commerz Real does
Commerz Real AG is a Wiesbaden-based alternative asset manager for real assets (real estate, renewable energy, and infrastructure) and a wholly-owned subsidiary of Commerzbank AG. It manages approximately EUR 55 billion in assets across three retail-accessible fund products: hausInvest, an open-ended commercial real estate fund (launched 1972, EUR 14.9B, 160+ properties in 17 countries, 93.1% occupancy, positive annual returns every year since inception); klimaVest, an ELTIF renewable energy fund (launched 2020, EUR 1.8B, the largest ELTIF in Europe per Scope 2026, 102 solar/wind installations plus transmission networks spanning 1.6 GW); and infraVest, an ELTIF infrastructure fund launched January 2026 (EUR ~240M, telecom towers, rail, social infrastructure). Commerz Real also serves institutional investors with bespoke mandates, and operates Commerz Leasing (formerly Commerz Real Mobilienleasing; EUR 5.5B leasing volume for German Mittelstand) following a 2025 intra-group consolidation that brought Aquila Capital and Yellowfin under its umbrella.
The company distributes retail products primarily through Commerzbank's distribution network and a national Vertriebspartner (financial advisor) channel, supported by a partner portal with sales tools, training, and market analyses; institutional business is run as direct relationship-led field sales targeting insurers, pension funds, church endowments, foundations, banks, and family offices with customized structures and off-market asset access. Revenue is generated through management fees on AUM, performance fees on certain mandates, leasing net interest spreads, and rental income flowing through hausInvest from approximately 4,100 tenants (~22% of leased space under Green Lease agreements). The operating footprint spans 9 disclosed offices across 8 countries (Germany x3, US, UK, Luxembourg, Netherlands, France, Italy) with investments in approximately 19 countries; Com.work and the in-house Energy Portfolio Management System are recent internal capability initiatives. All three retail funds are classified as Article 8 products under the EU Disclosure Regulation, and Commerz Real targets climate neutrality across its own operations and supplier portfolio by 2040.
Commerz Real firmographics
Firmographics- Name
- Commerz Real
- Legal name
- Commerz Real AG
- Website
- https://www.commerzreal.com/
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Commerz Real AG is a German alternative asset manager (Commerzbank subsidiary) managing ~EUR 55B in real estate, renewable energy, and infrastructure funds for retail and institutional investors, including hausInvest, klimaVest (largest EU ELTIF), and infraVest, plus Commerz Leasing for German Mittelstand.
- Ownership category
- akta.pro rank
Commerz Real industry classification
Industry- Product category
- Real Asset Management
- NAICS
- Funds, Trusts, and Other Financial Vehicles (525), Real Estate Property Managers (53131)
- SIC
- Real Estate (6500), Finance Lessors (6172), Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)
- akta.pro secondary industry
- Real Estate Funds — Core (Stabilized, Income) (FSANAEAF)
Keywords
Where Commerz Real is headquartered
LocationHeadquarters
- HQ city
- Wiesbaden
- HQ country
- Germany
- HQ region
- Europe
Offices9 records
Markets served
Commerz Real business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain, Others
Revenue model
- Fund Management Fees: Commerz Real generates revenue through management fees charged on its open-ended funds (hausInvest, klimaVest, infraVest) and institutional fund mandates. These fees are calculated as a percentage of assets under management and provide a stable, recurring revenue stream tied to the growing AUM base of approximately EUR 55 billion.
- Leasing and Financing (Commerz Leasing): Commerz Leasing (formerly Commerz Real Mobilienleasing) provides leasing and hire-purchase solutions to SMEs and industrial clients, managing a leasing volume of EUR 5.5 billion. Revenue is generated through interest spreads and fees on equipment and asset financing.
- Performance / Performance-based Fees: Institutional mandates and specialized funds may include performance fees tied to fund returns above defined benchmarks. hausInvest has delivered positive returns every year since 1972, suggesting performance-linked income potential.
- Real Estate Rental Income: hausInvest holds approximately 238 real estate properties globally with ~4,100 tenants, generating rental income that flows through the fund to investors. Approximately 22% of leased space operates under Green Lease agreements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | hausInvest: Open-ended real estate fund with daily tradability since 1972 |
| Subscription | Multi-year contract | klimaVest: ELTIF renewable energy and transmission network fund for private investors |
| Subscription | Multi-year contract | infraVest: ELTIF infrastructure fund for private investors, launched December 2025 |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels7 records
Commerz Real product offering
Product offeringCore offering
Commerz Real is an asset manager for real assets managing approximately EUR 55 billion across three asset classes—real estate, renewable energy, and infrastructure—via three flagship ELTIF/open-ended funds (hausInvest, klimaVest, infraVest) for private investors and bespoke institutional mandates, supported by a German SME leasing business (Commerz Leasing). Headquartered in Wiesbaden with offices across Europe and the U.S., the firm combines 50+ years of real estate track record with 100+ completed infrastructure projects and 102 renewable installations.
Product overview
Commerz Real is an asset manager for real assets offering three main investment funds for private investors and institutional solutions. hausInvest (launched 1972) is an open real estate fund investing in commercial properties across 17 countries with €14.9 billion in assets. klimaVest is a renewable energy ELTIF fund investing in wind parks, solar plants, and power grids across Europe with €1.8 billion in volume. infraVest is an infrastructure ELTIF fund (launched January 2026) investing in telecom towers, fiber networks, and transport infrastructure with target returns of 5-6% p.a. For institutional investors, Commerz Real offers customized fund structures across all three asset classes. The company also operates through subsidiaries including Commerz Leasing (leasing services), Commerz Real Investmentgesellschaft (hausInvest management), and Commerz Real Fund Management S.à r.l. (Luxembourg-based fund management for klimaVest and infraVest).
Differentiator
Problem solved
Functional benefit
Brands
- hausInvest: Open-ended real estate fund investing in commercial properties across 17 countries, available to private investors since 1972.
- klimaVest
- infraVest
Products and services
- hausInvest Open-ended real estate fund for private investors investing in over 160 commercial properties (offices, hotels, retail, residential) across 17 countries. Has delivered positive annual returns every year since 1972 with EUR 14.9 billion fund volume and 93.1% occupancy. 60% of fund distributions remain tax-free for German private investors under §20(4) InvStG.
- klimaVest European Long-Term Investment Fund (ELTIF) for private investors investing in renewable energy infrastructure—wind parks, solar plants, and electricity transmission networks—across 6 EU countries. Minimum investment EUR 10,000, target return 3.5–4.5% p.a., fund volume EUR 1.8 billion, 30,000 investors, 102 installations, 1.6 GW rated output.
- infraVest European Long-Term Investment Fund (ELTIF) for private investors investing in infrastructure assets including telecommunications towers (ATC Europe — over 30,000 towers in Germany, France, Spain), fiber networks, energy supply, electric locomotives (Railpool — 500 locomotives, 19 European countries), and social facilities. Target return 5–6% p.a., fund volume approximately EUR 240 million since launch.
- Institutional Investment Solutions Custom fund structures and direct mandates for institutional investors (insurers, pension funds, church endowments, foundations, banks, family offices) covering real estate, renewable energy, and infrastructure asset classes. Includes specialized funds and fully customized individual mandates with off-market asset access (e.g., IHG hotel leases, ATC Europe, Amprion transmission stake).
- Commerz Leasing Leasing and hire-purchase financing solutions for German SMEs and industrial clients (formerly Commerz Real Mobilienleasing GmbH). Manages EUR 5.5 billion in leasing volume with 140 experts across 8 German locations; serves as manufacturer-independent partner for transformation financing.
Quantifiable outcome
- hausInvest has achieved positive annual returns every year since its launch in 1972 (over 50 consecutive years).
- +4 more outcomes
Companies that use Commerz Real
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
Commerz Real technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Commerz Real partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Palladio PartnerscoreCommerz Real invested in Railpool via a fund managed by Palladio Partners. Palladio Partners structured the investment and provides ongoing asset management and supervision of the Railpool investment within the infraVest portfolio.
- AmprioncoreklimaVest made its first investment in electricity transmission networks via an indirect participation in Amprion, one of Germany's largest power grid operators. This strategic investment in regulated transmission infrastructure complements the renewable energy generation portfolio.
- IHG (InterContinental Hotels Group)coreIHG operates two Brisbane hotels (voco Brisbane City Centre and Indigo Brisbane City Centre) under 15-year lease agreements with Commerz Real's institutional funds. IHG's global brand, reservation system, and operational expertise drive occupancy and revenue for the properties.
- Betreiber / Developer NetworkminorCommerz Real works with a network of specialized operators, developers, and local market experts for real estate and infrastructure assets. Three of four case studies on its institutional page originated from long-term relationships with operators, developers, and partners, enabling off-market access to assets not publicly listed.
Scale indicators19 records
Recent moves8 records
Expansion highlights6 records
Commerz Real competitors and assessment
Company assessmentDirect peers
- KGAL: German asset manager focused exclusively on real assets (real estate, infrastructure, aviation, renewables) for institutional and select retail investors; directly comparable multi-asset real-asset platform with similar institutional client base.
- Infranity: European infrastructure asset manager focused on energy transition, digital infrastructure, and sustainable mobility; directly comparable to the infraVest and klimaVest mandates in infrastructure and renewables.
- La Française Group: European asset manager with a real-asset platform covering real estate, infrastructure, and private debt; directly comparable multi-asset real-asset strategy targeting institutional and wealth-management clients.
- Union Investment: One of Germany's largest open-ended real estate fund managers (UniImmo Deutschland/Europa/Global), a direct competitor to hausInvest in the German retail real estate fund market with a similar advisor-distributed product model.
- Patrizia: German-headquartered real asset investment manager with real estate, infrastructure, and private equity strategies; competes directly for institutional mandates and operates a similar German distribution network.
Broad incumbents
- Hines: Global privately-held real estate investment manager with institutional funds across multiple property types; competes for institutional capital in European commercial real estate with similar long-term fund structures.
- DWS Group: Major German asset manager offering DWS Grundbesitz open-ended real estate funds and alternative/renewable infrastructure products; overlaps with Commerz Real in retail real estate and infrastructure but operates at far greater overall scale across all asset classes.
- Swiss Life Asset Managers: European asset manager with substantial real estate and infrastructure strategies serving institutional clients; comparable in real estate scale and infrastructure product orientation.
- Allianz Global Investors: Global asset manager with significant real estate and infrastructure strategies and a parent insurance balance sheet; currently the seller of ATC Europe to Commerz Real's infraVest, making it both a partner and a competitor in infrastructure.
- BNP Paribas Real Estate: Real estate investment arm of BNP Paribas serving institutional clients across Europe with diversified real estate strategies; comparable in pan-European commercial real estate investing and institutional mandates.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Commerz Real social profiles
Digital presenceCommerz Real compliance and trust
Trust signalCompliance3 records
Commerz Real financial estimates
Financial estimateRevenue estimate
Valuation estimate
Commerz Real leadership team
Management profileNumber of profiles
Profiles22 records
Commerz Real subsidiaries and ownership
Company hierarchySubsidiaries7 records
Commerz Real funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Commerz Real M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Commerz Real
What does Commerz Real do?
Commerz Real is an asset manager for real assets managing approximately EUR 55 billion across three asset classes—real estate, renewable energy, and infrastructure—via three flagship ELTIF/open-ended funds (hausInvest, klimaVest, infraVest) for private investors and bespoke institutional mandates, supported by a German SME leasing business (Commerz Leasing). Headquartered in Wiesbaden with offices across Europe and the U.S., the firm combines 50+ years of real estate track record with 100+ completed infrastructure projects and 102 renewable installations.
Is Commerz Real a public or private company?
Commerz Real is a private company. It is classified as corporate owned and is currently operating.
When was Commerz Real founded?
Commerz Real was founded in 2007. It employs 501 to 1,000 people.
Where is Commerz Real based?
Commerz Real is headquartered in Wiesbaden, Germany, in the Europe region.
How does Commerz Real make money?
Four revenue lines are on record. Fund Management Fees are the primary driver. The others are leasing and Financing (Commerz Leasing), performance / Performance-based Fees and real Estate Rental Income.
Who are Commerz Real's main competitors?
Direct peers on record are KGAL, Infranity, La Française Group, Union Investment and Patrizia. Broad incumbents are Hines, DWS Group, Swiss Life Asset Managers, Allianz Global Investors and BNP Paribas Real Estate.
Does Commerz Real have an API?
No public API is recorded for Commerz Real.
What industry is Commerz Real in?
Commerz Real's product category is Real Asset Management. Its primary akta.pro industry code is FSAAAKAA, Core Real Estate (Stabilized/Core-Plus), with a secondary code of FSANAEAF, Real Estate Funds — Core (Stabilized, Income). Its NAICS code is 525 and its SIC code is 6500.