Hahn Immobilien Beteiligungs AG

What Hahn Immobilien Beteiligungs AG does

Hahn Immobilien Beteiligungs AG is a German real estate asset and investment manager founded in 1982 and headquartered in Bergisch Gladbach, specializing exclusively in supply-oriented retail (SB-Warenhäuser, Fachmarktzentren, Baumärkte) and mixed-use commercial properties. Through its wholly-owned BaFin-licensed capital management company DeWert Deutsche Wertinvestment GmbH, the firm launches and administers regulated investment funds and provides asset, property, and project development services across the full value chain. The firm manages approximately €7 billion of real estate fund assets across 202 launched funds with a reported 99% portfolio occupancy rate.

The product portfolio is split between two distribution tracks. For private investors, the Pluswertfonds series offers closed-ended retail real estate funds with a €20,000 minimum subscription and 10–15 year durations, alongside private placements at €200,000 minimums; for institutional investors, the firm offers open-ended and closed-ended Special AIFs (€10M minimum), Club Deals (€25M minimum), and Individual Mandates (€100M minimum), as well as institutional vehicles like the HAHN German Retail Fund series. The HAHN FCP-FIS – German Retail Fund co-founded with LRI Invest S.A. represents one of the largest institutional retail real estate mandates at over €500M gross investment volume.

Revenue is generated primarily through recurring management fees on AUM, performance-based fees tied to investor returns (historical average annual after-tax wealth growth of 5.39% in dissolved funds with 180% total distributions relative to invested equity), and service fees for asset and property management. Go-to-market combines a direct sales team for institutional accounts with a partner-driven distribution channel for retail investors, where approximately two-thirds of Pluswertfonds volume flows through independent financial advisors (freie Finanzdienstleister), with the remainder through banks, wealth managers, and family offices. The firm reports 3,900 private investor customers with an average 16-year relationship duration and around 7,600 ongoing fund subscriptions. The company was listed on the Frankfurt Stock Exchange from 2006 until its delisting in February 2015, after which shares trade over-the-counter.

Name

Hahn Immobilien Beteiligungs AG

Legal name

HAHN-Immobilien-Beteiligungs AG

Website

https://hahnag.de

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

101–250 employees

Short description

Hahn Immobilien Beteiligungs AG is a German real estate asset and investment manager founded in 1982 that launches and manages closed-ended retail real estate funds (Pluswertfonds) for private investors and Special AIFs/Club Deals/Individual Mandates for institutional investors, managing approximately €7 billion in retail and mixed-use property assets through its BaFin-licensed subsidiary DeWert.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525), All Other Financial Investment Activities (52399)

SIC

Real Estate Agents & Managers (For Others) (6531), Investment Advice (6282)

akta.pro primary industry

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Capital Raising Advisory (Debt/Equity/Private Capital) (BPAHADAG), Managed Account / SMA Multi-Manager Platforms (FSANAGAL)

Keywords

• Retail real estate funds
• Asset management services
• Institutional real estate investment
• Mixed-use property management
• Closed-ended real estate funds

Headquarters

HQ city

Bergisch Gladbach

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Fund Management Fees: The company generates revenue through management fees charged on the 7 billion Euro of real estate assets under management across its 202 launched funds. Both institutional and retail fund products generate recurring management fee income.
2. Performance Fees: Revenue is generated through performance-related fees based on the returns achieved for investors in the various fund vehicles, with historical average annual wealth growth after taxes of 5.39% for private investor funds.
3. Asset and Property Management Services: The company provides asset management and property management services across the entire value chain for retail and mixed-use properties, generating service fees from these operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Hahn Immobilien Beteiligungs AG operates as a real estate asset and investment manager focused on supply-oriented retail and mixed-use properties in Germany. The company launches and manages closed-ended investment funds for both institutional investors (Spezial-AIFs / Special AIFs, Club Deals, Individual Mandates) and private investors (Pluswertfonds), providing full value-chain services including acquisition, asset management, property management, and project development. Its BaFin-licensed subsidiary DeWert Deutsche Wertinvestment GmbH serves as the in-house capital management company (KVG) responsible for fund issuance and administration under KAGB regulations.

Product overview

Hahn Immobilien Beteiligungs AG operates as a real estate asset and investment manager specializing in supply-oriented retail and mixed-use properties. The company's product portfolio centers on closed-ended real estate investment funds: the Pluswertfonds series for private investors and the HAHN German Retail Fund series for institutional investors. These are managed by the DeWert Deutsche Wertinvestment GmbH subsidiary, a BaFin-licensed capital management company. The Hahn Group provides end-to-end services including asset management, property management, and project development across the entire value chain. The company manages approximately EUR 7 billion in real estate assets across 202 funds with a 99% occupancy rate.

Differentiator

Problem solved

Functional benefit

Brands

• Pluswertfonds: Closed public investment funds for retail investors, focusing on German retail and mixed-use real estate. Minimum investment typically €20,000.
• HAHN German Retail Fund

Products and services

• Pluswertfonds Closed-ended retail real estate investment funds for well-informed and wealthy private investors (Privatanleger) with minimum investment of EUR 20,000 plus 5% agio. The funds invest in commercial retail and mixed-use properties across Germany, including SB-warenhäuser (self-service department stores), Fachmarktzentren (retail parks), and Baumärkte (DIY stores). Historical performance shows 180% total distributions relative to invested equity and 5.39% average annual wealth growth after taxes for dissolved funds, with typical fund durations of 10-15 years.
• HAHN German Retail Fund Series Institutional real estate investment funds (Spezial-AIFs) investing in commercial retail and mixed-use properties across Germany. The series includes HAHN German Retail Fund I through V, with Fund V structured as an open-ended Spezial-AIF and Article-8 fund under SFDR. Products are offered to professional and semi-professional investors including insurance companies, pension funds, foundations, and family offices. Open-ended Special AIFs require minimum subscriptions of EUR 10 million, Club Deals EUR 25 million, and Individual Mandates EUR 100 million.
• Asset Management Full lifecycle asset management services for retail and mixed-use commercial real estate properties, covering strategic positioning, value optimization, leasing management, and portfolio performance. Service is provided to institutional and private investors who invest in Hahn Gruppe fund vehicles, achieving a 99% portfolio occupancy rate across managed assets.
• Property Management Operational property management services for commercial real estate assets, including tenant management, facility operations, and on-site services across German retail and mixed-use properties in the company's portfolio.
• Project Development Development and revitalization services for commercial real estate properties, supporting repositioning, modernization, and value creation across the Hahn Gruppe's retail and mixed-use property portfolio.

Quantifiable outcome

• 99% occupancy rate across managed real estate portfolio
• +3 more outcomes

Named customers3 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

Three partnerships are on record, tiered flagship and core.

• Sonae SierraflagshipStrategic or Co-development Partner · 1 May 2026Hahn Gruppe and Sonae Sierra have entered a partnership to invest over 70 million Euro in retail properties (LEH - Lebensmittelhandel/grocery retail) for a Southern Europe fund, combining Hahn's retail real estate expertise with Sonae Sierra's regional market knowledge.
• DeWert Deutsche Wertinvestment GmbHcoreOthers · 1 January 2014DeWert Deutsche Wertinvestment GmbH is a 100% owned subsidiary within the Hahn Gruppe that operates as the company's in-house capital management company (Kapitalverwaltungsgesellschaft). Licensed by BaFin in April 2014 and expanded in February 2016, DeWert is responsible for launching and managing closed-ended investment products (AIFs) for both institutional and retail investors under KAGB regulations.
• LRI Invest S.A.flagshipStrategic or Co-development PartnerLRI Invest S.A. co-founded the HAHN FCP-FIS – German Retail Fund with Hahn Gruppe, creating a Luxembourg Special Fund that became one of the largest institutional retail real estate funds with gross investment volume exceeding 500 million Euro invested in retail properties.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Emerging players

• Value One Holding AG: Austrian real estate developer and fund manager active in German-speaking markets, with comparable retail/mixed-use development and investment activity to Hahn's project development arm.

Direct peers

• Real I.S. AG: Bavaria-based real estate asset manager issuing Spezial-AIFs and club deals for institutional investors, directly comparable to Hahn's institutional product range in the German market.
• Commerz Real: Operates the hausInvest open-ended real estate fund and institutional Spezialfonds, competing with Hahn for German retail and institutional real estate allocations across commercial property types.
• KGAL (KGAL GmbH & Co. KG): German asset and investment manager with real estate and infrastructure funds for institutional and private investors, structurally similar to Hahn in product mix and distribution model.
• Union Investment Real Estate: One of Germany's largest open-ended real estate fund managers (open-ended Publikumsfonds plus Spezialfonds), directly comparable to Hahn in serving German retail and institutional investors with regulated real estate investment products.
• Deka Immobilien Investment: Manages open-ended real estate funds and institutional mandates for the Deka/Sparkassen group, overlapping with Hahn's Spezial-AIF and Individual Mandate offerings for German institutional capital.
• BVT Unternehmensgruppe: Sponsors closed-ended Publikumsfonds and Spezial-AIFs in real estate and renewable energy, directly comparable to Hahn's Pluswertfonds product family for German private investors.

Broad incumbents

• Catella Real Estate: European real estate investment manager with German institutional mandates, overlapping with Hahn's institutional offering but operating with a broader pan-European mandate.

Others

• TreuReal Estate / TreuHand AG: German real estate services and investment firm with a comparable mix of asset management, fund products, and property services, providing an adjacent peer reference for Hahn's full-value-chain model.

Regional players

• Jamestown US-Immobilien GmbH: US-headquartered but Germany-focused real estate investment manager with closed-ended Publikumsfonds, sharing Hahn's closed-end fund distribution model for German private investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hahn-gruppe
• Xx.com/HahnGruppe

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 Hahn Immobilien Beteiligungs AG