aam2core Holding

What aam2core Holding does

aam2core Holding AG is a Frankfurt am Main-headquartered real estate investment and asset management platform operating across Germany through six office locations and approximately 110 employees. Founded in 2017, the company manages seven real estate funds and approximately 1.95 million square meters of rental space, with assets under management of roughly €3.5 billion across residential, office, logistics/light industrial, and micro-/student-living strategies. The founders and senior team carry a stated career transaction track record exceeding €50 billion, providing credibility with German institutional and family office capital providers.

The platform operates through two material subsidiaries: aam2core Service GmbH, which holds BaFin registration as a Kapitalverwaltungsgesellschaft (KVG) enabling the management of regulated German real estate funds, and aam2green Advisory GmbH, a dedicated ESG advisory entity that provides a fee-generating sustainability consulting vertical decoupled from AUM. Equity ownership rests with the three founders (Stefan de Greiff, Prof. Dr. Nico B. Rottke, and Michael Schleich), two family offices that invested in 2022, and a four-person management board following the July 2024 appointment of Jens Ebert.

Revenue is generated through management fees on regulated funds and segregated mandates, transaction and acquisition fees, performance fees where applicable, JV co-investment economics, and ESG advisory mandates. The company has executed significant inorganic expansion, including the October 2022 acquisition of CORESIS and joint ventures with international capital partners including NREP (December 2024) and TPG Angelo Gordon, alongside a portfolio of additional institutional and family office relationships. Bayerische Versorgungskammer (BVK) is publicly identified as a key institutional client.

Name

aam2core Holding

Legal name

aam2core Holding AG

Website

https://aam2core.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

aam2core Holding AG is a Frankfurt-based real estate investment and asset manager operating six German offices with ~110 staff, managing ~€3.5B AUM across seven funds covering residential, office, logistics, and micro-/student-living for institutional and family office clients.

Ownership category

akta.pro rank

Product category

Real Estate Asset Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate Strategy Advisory (BPAHADAA)

Keywords

• Real estate asset management
• Investment management services
• Special real estate funds
• Commercial real estate investment
• ESG real estate advisory

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Asset Management Fees: Recurring management fees from overseeing real estate portfolios for institutional investors, family offices, and special fund solutions. The aam2core Service GmbH (BaFin-registered KVG) acquires and manages office properties for semi-professional investors in direct mandates and seven special fund solutions.
2. Investment Management: Investment management services for real estate funds and joint ventures, including transaction-based revenues from acquisitions and dispositions of properties
3. ESG Consulting: Sustainability consulting services through aam2green Advisory GmbH for internal mandates and external third-party clients

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

aam2core Holding AG is an independent real estate investment and asset management firm that acquires and manages real estate portfolios across residential, office, logistics & light industrial, and micro- & student-living asset classes in Germany and the DACH region. Through its BaFin-registered subsidiary aam2core Service GmbH, the company provides seven special fund solutions and direct mandates for semi-professional investors, while aam2green Advisory GmbH offers ESG advisory services to internal and third-party clients. The firm manages approximately EUR 3.5 billion across roughly 1.95 million sqm of rental space via an integrated, active asset management approach spanning the full real estate lifecycle.

Product overview

aam2core Holding AG operates as an integrated real estate investment and asset management platform for residential, office, logistics/light industrial, and micro-/student-living properties in Germany and Austria. The company operates through two primary subsidiaries: aam2core Service GmbH (formerly CORESIS Management GmbH, a BaFin-registered Kapitalverwaltungsgesellschaft offering seven special fund solutions and direct mandates for office properties), and aam2green Advisory GmbH (established March 2026 as a standalone ESG consulting arm serving both internal mandates and external third-party clients). The platform provides the full real estate lifecycle via active asset management, investment management, and proprietary sustainability advisory services, managing approximately 3.5 billion EUR in assets across roughly 1.95 million m² of rental space.

Differentiator

Problem solved

Functional benefit

Brands

• aam2green: Internal ESG advisory brand operated by aam2green Advisory GmbH; provides sustainability consulting to both internal mandates and third-party clients. Also accessible via www.aam2core.de/aam2green.
• aam2core Service GmbH
• DIE ZIMMEREI

Products and services

• Real Estate Special Fund Solutions BaFin-registered special real estate fund solutions offered through aam2core Service GmbH (formerly CORESIS Management GmbH) for semi-professional investors, covering German municipal properties, micro-living, and diversified commercial real estate strategies. Each fund is a regulated investment vehicle managed by the KVG subsidiary.
• Residential Investment Management Investment and asset management services for residential real estate portfolios, including multi-family housing, for institutional investors, family offices, and for the company's own balance sheet. Coverage spans the German and DACH residential market.
• Office Investment Management Investment and asset management services for office properties, including value-add and core-plus office assets in B-markets, managed through the BaFin-regulated aam2core Service GmbH. Includes direct mandates and seven special fund solutions for semi-professional investors.
• Logistics & Light Industrial Investment Management Investment and asset management services for logistics and light industrial properties across Germany and the DACH region, including large-scale industrial and logistics parks.
• Micro- & Student-Living Investment Management Investment and asset management services for micro-apartments and student housing properties, including specialized platforms for Purpose-Built Student Accommodation (PBSA) management in German and Austrian university cities. Includes the BVK Micro-Living fund platform with approximately 3,200 units managed across the DACH region.
• ESG Advisory Services Sustainability consulting covering environmental, social, and governance criteria, including ESG strategy development, EU taxonomy compliance, sustainability strategy implementation, and sustainability reporting. Services offered both internally and to third-party market participants via aam2green Advisory GmbH.

Quantifiable outcome

• Transaction volume exceeding 50 billion EUR
• +2 more outcomes

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Twelve partnerships are on record, tiered core and major.

• aam2green Advisory GmbHcoreStrategic or Co-development Partner · 10 March 2026In-house sustainability consulting subsidiary spun out as independent entity offering ESG advisory services to third parties. Operated by Dr. Thomas Worschech and Lars Salomon.
• NREPcoreStrategic or Co-development Partner · 17 December 2024Nordic real estate investor forming joint venture with aam2core for sustainable residential value-add investments in Germany. First acquisition was a residential property in Cologne. NREP is part of Urban Partners platform.
• NUMA GroupmajorStrategic or Co-development Partner · 17 October 2024European leader in digitized boutique apartments operating 112 serviced apartments in the 4711 Micro-Living complex in Cologne-Ehrenfeld. Long-term Green-Lease contract with comprehensive technological modernization.
• ReoscoreChannel Partner/ Reseller/ Distributor · 17 October 2024Digital property manager handling 136 Micro Living units at 4711 Cologne-Ehrenfeld and managing PBSA platform with 11 properties and 3,300 units in DACH region. Long-term partnership for property management services.
• TPG Angelo GordoncoreStrategic or Co-development Partner · 28 June 2024Joint venture partner for Ettlingen industrial park (180,000 sqm, 120,000 sqm rental space). Successfully sold the property to Elite Partners Capital in June 2024 after active asset management optimization.
• Orange Capital PartnersmajorStrategic or Co-development Partner · 1 January 2024Real estate investment firm that acquired Cosmopolitan portfolio in North Rhine-Westphalia with aam2core providing asset management and PHP providing property management.
• One Investment Management (OneIM)majorStrategic or Co-development Partner · 1 January 2024Co-investor with Orange Capital Partners in Cosmopolitan portfolio acquisition in NRW, with aam2core handling asset management.
• Universal InvestmentcoreChannel Partner/ Reseller/ Distributor · 7 December 2023Fund service platform partner for multiple special real estate funds including Deutsche Kommunalimmobilien II and Article 8 ESG-aligned funds. One of Europe's leading fund platforms with over 964 billion EUR in assets.
• CORESIS Management GmbH (now aam2core Service GmbH)coreStrategic or Co-development Partner · 1 October 2022Acquired company specializing in Core-Plus office properties in B-markets. Merger completed October 2022 expanded aam2core to over 3 billion EUR in managed assets and 75 employees.
• ReoscoreChannel Partner/ Reseller/ Distributor · 6 July 2022Digital property manager and operational partner for Micro-Living portfolio management. Reos operates under the brand 'DIE ZIMMEREI' with focus on digital services for student housing and micro-apartments.
• Cara Real EstatemajorStrategic or Co-development Partner · 22 March 2021Joint venture partner for HPE Germany headquarters acquisition in Böblingen (16,500 sqm). Acquired together in March 2021 and repositioned as VOLT office complex.
• Instone Real EstatecoreStrategic or Co-development Partner · 1 January 2019Development partner for the FRANKY residential quarter project in Frankfurt Gallus. Instone develops the 1,300-unit residential project while aam2core handles acquisition and subsequent asset management. The project features innovative sustainability with heat supply from neighboring data center waste heat.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Patrizia SE: Augsburg-headquartered European real estate investment manager with a comparable active asset-management model across residential and commercial assets; the most direct competitor in the German mid-market and former employer of aam2core board member Jens Ebert.
• KGAL: Munich-based investment manager specialising in long-term real estate and infrastructure investments for institutional investors in the DACH region, with a similar active-management, regulated-fund vehicle structure.
• Catella: Stockholm-based European real estate investment manager with active asset and fund management across multiple European countries; comparable size and multi-country investment focus to aam2core's DACH-centric platform.
• LaSalle Investment Management: Global real estate investment manager (Jones Lang LaSalle subsidiary) running core, value-add and debt strategies across Europe, including Germany; competes for the same institutional separate-account and fund mandates.
• Savills Investment Management: London-headquartered real estate investment manager with European fund vehicles and separate accounts covering German residential, office and logistics; directly comparable multi-strategy, multi-country platform.

Broad incumbents

• Union Investment Real Estate: Hamburg-headquartered real estate investment arm of Union Investment Group, managing open-ended real estate funds for institutional and retail clients in Germany and Europe; a much larger incumbent offering comparable fund and asset-management services.
• DWS Group (Real Estate): Frankfurt-listed global asset manager with a sizable European real estate division offering regulated funds and separate-account mandates; a broad incumbent competing for the same German institutional capital.
• BNP Paribas Real Estate Investment Management: Paris-based real estate investment management arm of BNP Paribas offering institutional funds and mandates across Europe, including DACH; a broad incumbent with overlapping product set and similar institutional client base.

Others

• Universal Investment: Frankfurt-based fund platform and one of aam2core's largest distribution partners (>€964bn AuS); not a competitor but a critical ecosystem counterpart for its KVG and special-fund vehicles.

Emerging players

• TPG Real Estate Partners (Angelo Gordon): Real estate platform of TPG that has executed multiple JV partnerships with aam2core (e.g. Ettlingen industrial park) and is now part of TPG Real Estate Partners; overlapping DACH focus and a peer for institutional JV capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInde.linkedin.com/company/aam2core

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 aam2core Holding