Vivion

What Vivion does

Vivion is a Luxembourg-domiciled, privately-held real estate investment company that owns and manages a €4.1 billion portfolio of commercial properties across two of Europe's strongest economies. The company operates through two core segments: a German Office Portfolio of 56 properties valued at approximately €1.8 billion located in Tier 1 cities (Berlin, Düsseldorf, Cologne, Frankfurt, Munich) with a 7.0-year WAULT and a tenant base split between government entities and blue-chip commercial tenants; and a UK Hotel Portfolio of 53 properties with approximately 8,471 rooms valued at approximately €2.2 billion, over 50% located in Greater London, 100% let under long-dated leases with branded operators including Hilton, Holiday Inn, Crowne Plaza, and Best Western. Combined occupancy stands at 91% across 109 total properties.

The business model is built on three pillars: (1) off-market sourcing of assets to capture pricing margin and asset management upside; (2) long-duration, contractually-secured rental income from creditworthy tenants; and (3) optimized capital structure executed through a €1.5 billion EMTN programme listed on Euronext Dublin, supported by repeat relationships with BofA Securities, Citigroup, Goldman Sachs International, and J.P. Morgan. Capital is raised through senior secured bonds, subordinated hybrid notes (rated B by S&P, counted as 100% equity under IFRS), and direct equity injections from existing shareholders. Total cumulative debt raised exceeds €2.3 billion across six issuances from 2019 to 2026, supplemented by €110 million of equity over the past two years.

Vivion serves institutional and private investors seeking stable, sustainable returns from European real estate without direct ownership complexity, while simultaneously providing leased space to government entities, blue-chip corporates (e.g., Innogy, BLB NRW), and international hotel operators. The company is led by CEO Sascha Hettrich (35+ years of real estate experience across JLL, Knight Frank, and King Sturge Germany) and is governed by a board that includes Ric Clark (former Chairman/CEO of Brookfield Property Group) and Jacob Frenkel (former Governor of the Bank of Israel). S&P rates the corporate credit BB and senior secured notes BB+, with the outlook revised to Stable in June 2026 following a multi-year deleveraging and refinancing program.

Name

Vivion

Legal name

VIVION Investments Sarl

Website

https://vivion.eu

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Vivion is a Luxembourg-domiciled, privately-held European real estate investment company managing a €4.1bn portfolio of office properties in German Tier 1 cities and hotel properties across the United Kingdom, serving institutional and private investors through senior secured bonds, hybrid notes, and equity capital.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Commercial real estate investment
• Office property portfolio
• Hotel property portfolio
• Real estate asset management
• Institutional bond issuance

Headquarters

HQ city

Berlin

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Finance costs (interest on senior secured notes, hybrid notes, and other debt), Operations (property maintenance, building management, utilities), Personnel (executive management, asset management, leasing teams), Marketing or Sales (investor relations, capital markets communications), Others (ESG reporting, compliance, regulatory)

Revenue model

1. Rental Income from Office Properties: Stable rental income generated from long-term leases to high-quality tenants in office properties across German Tier 1 cities (Berlin, Düsseldorf, Cologne, Frankfurt, Munich). The German office portfolio is approximately 90% let with a WAULT of 7.0 years as of June 2025. Diversified tenant base includes government entities and commercial 'blue chip' tenants.
2. Rental Income from Hotel Properties: Stable rental income from hotel properties across the United Kingdom, with over 50% located in Greater London. The hotel portfolio comprises over 50 hotels with approximately 8,000 rooms, 100% let with an average remaining lease term of ca. 10 years. Properties are branded by well-known hotel brands including Hilton, Holiday Inn, Crown Plaza and Best Western.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Vivion is a privately held real estate investment company that owns and actively manages a €4.1 billion portfolio of 109 predominantly office and hotel properties in Germany and the United Kingdom. The German office portfolio spans Tier 1 cities (Berlin, Düsseldorf, Cologne, Frankfurt, Munich) with blue-chip and government tenants, while the UK hotel portfolio comprises over 50 hotels with approximately 8,000 rooms, branded by Hilton, Holiday Inn, Crowne Plaza, and Best Western. The company finances acquisitions through its EMTN bond programme on Euronext Dublin and supplements investor returns through active asset management.

Product overview

Vivion operates as a real estate investment company offering two core property portfolios: a German Office Portfolio of 56 office properties valued at €1.8 billion across Tier 1 German cities (Berlin, Düsseldorf, Cologne, Frankfurt, Munich), and a UK Hotel Portfolio of 53 assets with over 8,000 rooms valued at €2.2 billion, primarily in Greater London. The company supports its €4.1 billion total portfolio through financial products including senior secured notes (EMTN programme) and hybrid/subordinated notes. Vivion's asset management services drive value through active property management, tenant relations, and lease optimization, while ESG reporting provides transparency on sustainability performance.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 91% total occupancy across portfolio
• +3 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ken CostaminorStrategic or Co-development Partner · 1 August 2022Ken Costa joined Vivion's Advisory Board bringing extensive experience in financial services and investment banking.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• LondonMetric Property PLC: UK diversified REIT with logistics, retail, and hospitality exposures. Comparable UK real estate investment vehicle with institutional capital base and similar long-income investment philosophy.
• Gecina SA: Major European office REIT focused on prime Parisian and European office assets. While broader and geographically distinct, it represents a similar institutional-quality stabilized office investment model with long-WAULT leases to blue-chip tenants.
• Covivio SA: European REIT operating across offices in France, Germany, Italy, and the UK plus hotels under Accor management. Overlaps with Vivion's two-pillar office/hotel strategy across European markets.
• Whitbread PLC: UK's largest hospitality company and owner of Premier Inn hotels. While vertically integrated rather than a landlord, Whitbread operates a large branded UK hotel estate that overlaps with the same demand drivers and operators (Hilton, Holiday Inn, etc.) underpinning Vivion's hotel leases.

Direct peers

• PPHE Hotel Group: Owner-operator of branded hotels across the UK, Netherlands, and Germany including upscale and lifestyle brands. Comparable hotel real estate focus in UK and German-speaking markets to Vivion's UK hotel portfolio.
• Alstria Office REIT-AG: German office REIT focused on office properties in major German cities including Hamburg, Berlin, and Düsseldorf. Direct overlap in asset class and geography with Vivion's German office strategy.
• Hamborner REIT AG: German REIT focused on commercial properties in metropolitan areas across Germany with long-term leases to creditworthy tenants. Comparable long-WAULT income strategy to Vivion's German office book.
• Aroundtown SA: European office-focused real estate company with a large German office portfolio. Closely comparable to Vivion's German office strategy of acquiring stabilized assets in Tier 1 cities for institutional investors.
• CA Immobilien Anlagen AG: Austrian/German office REIT investing in income-producing office properties across Tier 1 German-speaking cities. Comparable asset class and geographic exposure to Vivion's German office portfolio.
• Shaftesbury Capital PLC: UK REIT focused on real estate in London's West End including mixed-use and hospitality assets. Comparable London hotel and property exposure to Vivion's UK Greater London hotel portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/viviongroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vivion