What WEALTHCORE Investment Management does

WEALTHCORE Investment Management GmbH is a Munich-based, owner-operated real estate investment manager founded in 2018 and wholly owned by United Benefits Holding (formerly Kollitsch Invest Gruppe), the family-office platform of founders Franz A. Kollitsch and Erwin Krause. The firm is a regulated BaFin-registered fund initiator focused exclusively on ESG-compliant real estate investments, primarily residential but also office, hotel, and retail, across Germany, Austria, and Poland. WEALTHCORE serves institutional investors, including VAG-regulated insurance companies, Versorgungswerke, Pensionskassen, Sparkassen, and family offices, with high minimum tickets (typically EUR 2-10 million) and provides individual mandates, club-deal structures, and a fund series spanning Article 8 and Article 9 of the EU Disclosure Regulation.

The product suite is anchored by the Wealthcore Impact Serie, comprising the Green Impact Süddeutschland fund (Germany's first Article 9 residential fund, ~EUR 400M target), the Green Impact Fonds (second Article 9, ~EUR 500M target), the Austrian Living I (Article 8 Luxembourg SCS SICAV RAIF, ~EUR 150M, fully placed April 2024), the Urban Living Fund, and the Sustainable Impact Fund (Article 9 successor focused on subsidized timber-hybrid housing). The technical backbone is the proprietary WEALTHCORE ESG Investment Score (40+ criteria covering CO2, climate, social sustainability, EU Taxonomy alignment, and energy efficiency) combined with a digital asset-management and reporting platform that supports Article 8/9 compliance, GRESB benchmarking, and CRREM-aligned decarbonization monitoring. Properties are certified under DGNB and ÖGNI standards; the Hilton Vienna Park mandate additionally achieved BREEAM 'Excellent' in 2024.

Revenue is generated through recurring management fees on BaFin-regulated Spezial-AIFs and Luxembourg RAIFs, structuring and transaction fees on club deals and individual mandates, and asset management fees on owner-representation mandates such as the Hilton Vienna Park for Mastern Investment Management. Capital is raised via direct institutional sales led by a dedicated Head of Institutional Investors for the DACH region, co-investment partnerships (Nuveen Real Estate, MAGNA Asset Management), and Luxembourg fund vehicles for cross-border distribution; fund administration is handled by IntReal KVG with Hauck & Aufhäuser as depositary. WEALTHCORE operates as part of an integrated group with development (INVESTER United Benefits) and property/asset management (EKAZENT), enabling off-market deal sourcing and end-to-end ESG control from project development through asset management to exit.

Name

WEALTHCORE Investment Management

Legal name

WEALTHCORE Investment Management GmbH

Website

https://wealthcore.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

WEALTHCORE Investment Management is a Munich-based, BaFin-regulated real estate investment manager that originates and manages Article 8 and Article 9 ESG-compliant real estate funds, individual mandates, and club deals for institutional investors across the DACH region and Poland.

Ownership category

akta.pro rank

Product category

Institutional Real Estate Fund Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• ESG real estate funds
• Institutional asset management
• Article 9 real estate
• Sustainable property investment
• BaFin-regulated Spezial-AIFs

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Management Fees: WEALTHCORE initiates and manages ESG-compliant real estate funds (Article 8 and Article 9 under EU Disclosure Regulation) for institutional investors, earning management fees and potentially performance/carried interest fees. Revenue is generated through structuring closed and open-ended property funds for investors in Germany, Austria, and Poland.
2. Individual Mandate Management: WEALTHCORE structures and manages large individual mandates for international investors, providing comprehensive real estate investment management from strategy to exit. Services include transaction management, asset management, and financing across the property lifecycle.
3. Club Deal Structuring: WEALTHCORE arranges co-investment club deals in Germany and Austria for investors preferring smaller circles of participants. The firm earns structuring fees for off-market deal sourcing and transaction facilitation.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels7 records

Core offering

WEALTHCORE Investment Management GmbH is a Munich-based, sustainability-focused real estate investment company that initiates and manages BaFin-regulated Article 8 and Article 9 real estate funds (Spezial-AIFs) for institutional investors. The firm offers the Wealthcore Impact Serie, individual mandates, and club deals, investing in certified sustainable residential, office, hotel, and retail properties across Germany, Austria, and Poland. Its investment process is driven by the proprietary WEALTHCORE ESG Investment Score, which evaluates properties against 40+ criteria including CO2 reduction, EU Taxonomy compliance, and social sustainability.

Product overview

WEALTHCORE Investment Management GmbH is a sustainability-oriented real estate investment company founded in 2018, headquartered in Munich, Germany, and part of the United Benefits Holding. The company operates as a fund initiator and asset manager offering a portfolio of ESG-compliant real estate investment products. The product suite consists of the Wealthcore Impact Serie — a family of Article 8 and Article 9 real estate funds (including the Wealthcore Austria Living Fund, Wealthcore Urban Living Fund, and Wealthcore Sustainable Impact Fund), supplemented by Individual Mandates and Club Deals for institutional investors seeking tailored strategies. The offering is unified by the proprietary WEALTHCORE ESG Investment Score tool, which drives property selection across all fund products. The company invests across the asset classes of residential, office, hotel, and retail, with geographic focus on Germany, Austria, and Poland.

Differentiator

Problem solved

Functional benefit

Brands

• Wealthcore Austria Living Fund: Article 8 Luxembourg SCS SICAV RAIF fund investing in sustainable residential real estate in Austria
• Wealthcore Impact Serie
• Wealthcore Green Impact Fonds
• Wealthcore Sustainable Impact Fund

Products and services

• Wealthcore Impact Serie A family of ESG-compliant real estate fund products spanning Article 8 and Article 9 classifications under the EU Disclosure Regulation, investing in residential, office, hotel, and retail assets across Germany, Austria, and Poland. Targeted at institutional investors with long-term horizons.
• Wealthcore Austria Living Fund (WALI) Article 8 Luxembourg SCS SICAV RAIF investing in sustainable residential real estate in Austria (Vienna and Graz). Structured as a risk-diversified buy-to-hold portfolio in the asset holding phase. Fund volume ~EUR 150 million, target distribution 3.0–3.5% p.a., fund term 15 years, minimum investment EUR 5 million.
• Wealthcore Urban Living Fund Open-ended German Spezial-AIF (KAGB) — also marketed as the Wealthcore Green Impact Fonds — investing exclusively in certified sustainable residential real estate in Germany's eight major metropolitan regions and Vienna, Austria. Subject to strict ESG due diligence beyond EU Taxonomy requirements. Target distribution 3.50% p.a., target IRR 4.00–5.50% p.a.
• WEALTHCORE ESG Investment Score Proprietary 40+ (later cited as 60+) criteria scoring model used to identify, evaluate, and acquire target properties. Ensures ecological and economic effectiveness of selected measures, underpins all Article 9 fund acquisitions, and incorporates criteria beyond EU Taxonomy requirements (CO2 reduction, climate protection, social sustainability, location, planning/construction phases).
• Individual Mandates Customized real estate mandates for institutional investors with specific strategy requirements, including impact balance sheets, specific risk-return profiles, and targeted country or regional focus. Provided through long-term cooperative arrangements; includes transaction management, asset management, and financing across the property lifecycle.
• Club Deals Co-investment opportunities for investors preferring a smaller circle of participants, leveraging long-standing off-market access to execute impact-oriented residential, office, retail, and hotel investments in Germany and Austria. WEALTHCORE earns structuring fees for off-market deal sourcing and transaction facilitation.

Quantifiable outcome

• BaFin-approved Article 9 residential fund (first in Germany: Wealthcore Green Impact Süddeutschland, December 2021)
• +6 more outcomes

Named customers11 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

Feature3 records

Partnerships

14 partnerships are on record, tiered core and minor.

• INVESTER United BenefitscoreStrategic or Co-development PartnerINVESTER United Benefits is the development arm of the UB Holding group. It develops ESG-compliant residential and commercial properties in Austria and Germany, which WEALTHCORE acquires for its Article 9 and Article 8 funds. Projects include 'Grosses Glück' (10,000 sqm, 153 units), Rudolf-Simon-Gasse (3,000 sqm, 49 units), LORY 71, and LEO 19. WEALTHCORE acts as off-taker for INVESTER's development pipeline.
• EKAZENT Management GmbHcoreStrategic or Co-development PartnerEKAZENT Management provides asset management and property management services for UB Holding's real estate portfolio. It handles leasing and property management for WEALTHCORE fund assets, including the Austrian Living I portfolio. The firm has extensive experience across retail, residential, and office asset classes with over 50 years of combined experience.
• IntReal Kapitalverwaltungs GmbHcoreImplementation/ SI/ Consulting PartnerIntReal serves as the external German Kapitalverwaltungsgesellschaft (KVG) for WEALTHCORE's BaFin-regulated Spezial-AIFs, including the Wealthcore Green Impact Fonds and Wealthcore Austria Living I. IntReal handles fund administration, regulatory compliance, and depositary oversight.
• Hauck & Aufhäuser AGcoreImplementation/ SI/ Consulting PartnerHauck & Aufhäuser AG acts as depositary bank (Verwahrstelle) for WEALTHCORE's regulated funds, including the Wealthcore Green Impact Fonds, ensuring investor asset protection and regulatory compliance.
• Nuveen Real EstateminorStrategic or Co-development PartnerNuveen Real Estate co-invested alongside WEALTHCORE in an Article 9 residential fund. While WEALTHCORE focuses on climate protection through its Green Impact series, Nuveen emphasizes social impact. The partnership combines Nuveen's global real estate capabilities with WEALTHCORE's ESG expertise in the DACH residential market.
• MAGNA Asset Management AGminorStrategic or Co-development PartnerWEALTHCORE and MAGNA Asset Management formed a joint venture to acquire Office Center Ismaning (ca. 14,500 sqm) in Munich in April 2020 for the MAGNA VZB Select Spezial-AIF. WEALTHCORE sourced the deal and provides ongoing asset management services.
• Kollitsch Invest GmbHcoreOthersKollitsch Invest (sometimes referred to as part of or related to the Kollitsch Invest group) is the group to which WEALTHCORE belongs. WEALTHCORE is listed as 'Part of Kollitsch Invest GmbH' on its website footer.
• Hilton (als Hotelbetreiber)coreStrategic or Co-development PartnerWEALTHCORE and Hilton partnered for the ESG transformation of the Hilton Vienna Park hotel. WEALTHCORE serves as asset manager and owner representative for the property's Korean owner (Mastern Investment Management). Hilton operates the hotel and participates in WEALTHCORE's LightStay ESG measurement system, achieving BREEAM 'Excellent' certification in 2024.
• DGNB (Deutsche Gesellschaft für Nachhaltiges Bauen)minorOthersActive membership. WEALTHCORE participates in the transformation process of the construction and real estate market through DGNB. Properties are certified using DGNB standards.
• ÖGNI (Österreichische Gesellschaft für Nachhaltige Immobilienwirtschaft)minorOthersActive membership. WEALTHCORE uses ÖGNI certification for Austrian properties. Multiple WEALTHCORE/UB Holding properties have received ÖGNI Gold certification (e.g., 'Grosses Glück', Rudolf-Simon-Gasse).
• GRESB (Global Real Estate Sustainability Benchmark)minorOthersActive member. WEALTHCORE participates in GRESB benchmarking for sustainability performance in real estate investments, demonstrating commitment to transparency and ESG accountability.
• INREV (European Association for Investors in Non-Listed Real Estate Vehicles)minorOthersActive membership in INREV, the European Association for Investors in Non-Listed Real Estate Vehicles.
• UN PRI (Principles for Responsible Investment)minorOthersWEALTHCORE aligns with the Principles for Responsible Investment (UN PRI) as a guiding framework for responsible investment practices, as stated in its sustainability strategy.
• CRREM (Carbon Risk Real Estate Monitor)minorOthersWEALTHCORE measures all its properties against the CRREM decarbonization pathway and strives to align every asset with the Paris Agreement 1.5°C pathway, using CRREM as an ESG monitoring tool.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• DeA Capital Real Estate: DeA Capital Real Estate is the Italian-headquartered real estate investment management arm of DeA Capital Group, managing institutional capital across European markets. Comparable to WEALTHCORE as a European real estate investment manager focused on institutional capital; Jens Zimmermann (WEALTHCORE's Senior Director Transaction & Asset Management) previously served as Director Investment Management at DeA Capital Real Estate.
• Catella Real Estate: Catella Real Estate is the European real estate investment management arm of Catella Group, managing institutional capital across European markets. Comparable to WEALTHCORE as a European-domiciled real estate fund manager serving institutional LPs with pan-European and country-specific vehicles, competing for institutional real estate allocations in DACH.
• Habona Invest: Habona Invest is a Frankfurt-based real estate investment manager specializing in retail-suitable open-ended and closed-end real estate funds focused on German retail and daily-need properties. Comparable to WEALTHCORE as a German KAGB-regulated fund manager running institutional and semi-institutional fund products targeting similar LP bases with regulated fund structures.
• KGAL: KGAL is a Munich-based investment and asset manager specializing in real estate and infrastructure for institutional investors. Comparable to WEALTHCORE as a Munich-domiciled institutional real estate and infrastructure fund manager serving insurance, pension, and bank clients across DACH with regulated fund structures.
• Union Investment Real Estate: Union Investment Real Estate is the real estate arm of Union Investment Group, one of Germany's largest open-ended real estate fund managers (UniImmo: Europa, Deutschland). Comparable to WEALTHCORE as a German-domiciled institutional real estate fund manager with sustainability-focused products serving insurance, pension, and retail-suitable institutional capital in DACH.
• KanAm Grund Group: KanAm Grund Group is a Frankfurt-based real estate investment manager operating Spezial-AIF and open-ended fund products for institutional and semi-institutional investors. Comparable to WEALTHCORE as a competing German real estate fund manager targeting institutional capital with regulated KAGB fund vehicles; one of WEALTHCORE's senior directors (Jens Zimmermann) previously worked at KanAm.
• PATRIZIA: PATRIZIA is a European real estate investment manager headquartered in Augsburg, managing institutional capital across multiple European countries. Comparable to WEALTHCORE because it offers fund vehicles, individual mandates, and club deals for institutional LPs with ESG/sustainability strategies, directly competing for institutional real estate allocations in DACH and beyond.

Others

• INTREAL: INTREAL is one of Germany's largest independent KVGs (Kapitalverwaltungsgesellschaften) providing fund administration and management services to real estate fund initiators. Comparable to WEALTHCORE as part of the institutional real estate fund ecosystem in Germany; INTREAL actually serves as WEALTHCORE's external KVG for its BaFin-regulated Spezial-AIFs (Manuel Bugl joined WEALTHCORE from INTREAL).

Broad incumbents

• BNP Paribas Real Estate: BNP Paribas Real Estate is the real estate division of BNP Paribas, providing investment management, advisory, and property services across Europe. Comparable to WEALTHCORE as a major European real estate investment manager targeting institutional investors with regulated fund products and individual mandates; operates at much larger scale across more geographies and asset classes.
• DWS Real Estate: DWS Real Estate is the real estate investment management arm of DWS Group (Deutsche Bank subsidiary), one of the largest real estate managers globally. Comparable to WEALTHCORE as a DACH-headquartered institutional real estate manager; operates at much larger scale with broader product range including open-ended and closed-end funds, individual mandates, and club deals across multiple geographies and asset classes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wealthcore-investment-management

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 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 WEALTHCORE Investment Management