Union Investment Real Estate GmbH in Hamburg is restructuring the management areas of its real estate platform and responding to changing market requirements with an adapted management model. The new organisational structure provides for three management areas instead of the previous four, divided into fund management, real estate management and operations.
The newly created Real Estate Management division, headed by Karim Esch, integrates Investment and Asset Management. This will be responsible for the entire real estate-related value chain, from acquisitions to portfolio management and leasing and the sustainability strategy to the economic and technical development of existing properties and sales, both for existing and new funds and in portfolio management for third parties.
“With our integrated investment and asset management, we are positioning ourselves in the best possible way for the reopening of the real estate markets and can thus make the greatest value contribution for our private and institutional clients,” says Michael Bütter, CEO of Union Investment Real Estate GmbH. “We expect that high rental income yields will become more important for total returns in the new market cycle than valuation premiums. To this end, we are building a holistic real estate management system that uses our high level of regional expertise in Germany and the European markets in all investment phases.”
Henrike Waldburg resigns from the management board
Henrike Waldburg has decided not to renew her contract and will step down as Managing Director on 31.8.2026. Since 2023, she has been responsible for the asset management of the portfolio with a volume of more than 40 billion euros, spread across 22 national markets. Her area of responsibility included portfolio and rental management, project development and the sustainability strategy of the real estate portfolio. She was also Deputy CIO. Henrike Waldburg has played a key role in shaping the company during this time and has contributed to the development of the real estate platform with great commitment.
“We would like to thank Henrike for her extraordinary commitment, her loyalty and her sustained contribution to the further development of our company,” says Frank Engels, Chairman of the Supervisory Board of Union Investment Real Estate GmbH. “As an excellent manager with considerable experience in the real estate industry, she has rendered outstanding services to our company. During her years with the company, she initiated numerous changes and made important contributions to the digitalisation and modernisation of key business processes. We therefore very much regret her departure.”
As Chairman of the Management Board of Union Investment Real Estate GmbH, Michael Bütter will continue to be responsible for real estate strategy, fund management, including fund controlling and financing management, as well as marketing and communications.
As COO in the Management Board, Gerald Kremer will take on extended tasks in the Operations department. In addition to being responsible for operational infrastructure and processes, he will be responsible for the continuous expansion of the use of artificial intelligence and digitalization. Kremer will also be responsible for the technological transformation of the real estate platform, product development, data management, controlling, real estate research, real estate law, taxes and investment management.
Investment focus in core European markets
The organisational realignment is closely linked to an investment strategy that has been further developed for the new market cycle and the restructuring of the portfolios. In order to diversify its portfolios even more broadly, Union Investment Real Estate intends to gradually expand its range of investments in existing funds and, in the future, new ones to include social, property-related infrastructure. The investment focus will be on the core European markets.
