The luxury real estate industry in the DACH region encompasses premium residential, commercial, and mixed-use properties. It attracts affluent buyers and investors, driven by growth in the wealth sector and surging demand for exclusive, tailor-made living experiences. Major players include private equity firms, asset managers, and corporate investors who emphasize sustainability and innovative developments, increasingly integrating technology into property management. Predictions indicate this sector will see stable growth as urbanization and demographic trends fuel the need for luxury accommodations in prime locations like Zurich, Munich, and Vienna, creating lucrative opportunities for savvy investors.


In this article, we focus on eight noteworthy investors in the DACH luxury real estate market. These include private equity firms like Partners Group and Allianz, based in countries such as Switzerland, Germany, and Austria. Founded between 1890 and 2018, these firms vary in size from small teams to large operations with thousands of professionals. In 2024 alone, these investors completed a total of 39 deals, showcasing their powerful presence and commitment to maximizing returns in the luxury property sector.


Top 8 Luxury Real Estate Investors in DACH


1. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Among their notable transactions, Partners Group acquired Bellevue Connection, a substantial mixed-use property in downtown Bellevue, showcasing their capability in managing high-value real estate assets. Additionally, their investment in Trinity Investments, which focuses on hospitality across North America and Europe, further highlights their engagement in sectors that often intersect with luxury real estate. Furthermore, their acquisition of Foncia, a leading French property management services provider, indicates their strategic interest in enhancing their real estate portfolio. These transactions reflect Partners Group's active role in the luxury real estate market, making them a relevant investor in this category.


2. Limestone Capital AG


Limestone Capital AG is a private equity firm based in Zug, Switzerland, founded in 2018. The firm specializes in the hospitality sector, focusing on boutique hotels and luxury real estate assets across Europe. Limestone Capital aims to create value through strategic development and operational excellence, catering to family offices and institutional investors seeking high returns in the experience economy. Notable transactions include the acquisition of the Nobu Hotel London Shoreditch, marking the first European site for the Nobu Hospitality brand, and the purchase of a five-star resort hotel in Sardinia's Costa Smeralda, set to open under the Aethos brand. Additionally, Limestone Capital led a financing round for Aethos, securing 100 million euros for global expansion, which includes plans for new luxury properties in Portugal, Spain, and Italy. These activities highlight Limestone Capital's active role in the luxury real estate market.


3. Allianz

  • Website: allianz.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1890
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: allianz

Allianz is a Munich-based corporate investor founded in 1890, primarily known for its insurance products and investment management services. With a global presence and a focus on risk management and asset protection, Allianz aims to create long-term value for its stakeholders. In the luxury real estate context, Allianz has made notable investments, including the acquisition of ELIX Vintage Residencial in June 2021, which highlights their engagement in high-end residential properties. Furthermore, Allianz X, the digital investment arm of Allianz, has participated in funding rounds for real estate platforms such as 99.co, which aims to expand its reach in luxury property markets. These transactions reflect Allianz's strategic interest in the luxury real estate sector, positioning them as a significant investor in this space.


4. SIGNA Group of Companies


SIGNA Group of Companies, founded in 1999 and based in Vienna, Austria, operates primarily in the real estate and retail sectors. The company has a substantial workforce of over 10,000 employees and has made significant strides in commercial real estate development across Europe. Notably, SIGNA was involved in the acquisition of the Chrysler Building in New York, a landmark luxury property, in partnership with RFR Holding LLC. This acquisition underscores their commitment to high-value real estate investments. Additionally, SIGNA's joint venture with Central Group to acquire the Swiss luxury department store chain Globus for $1 billion further illustrates their strategic focus on luxury retail and real estate. Through these transactions, SIGNA has established itself as a key player in the luxury real estate market, expanding its portfolio and influence in this sector.


5. Vaudoise Assurances

  • Website: vaudoise.ch
  • Type: Corporate
  • Headquarters: Lausanne, Vaud, Switzerland
  • Founded year: 1895
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: vaudoise-assurances

Vaudoise Assurances, founded in 1895 and based in Lausanne, Vaud, Switzerland, is a corporate insurance company that provides a wide range of insurance products and financial services to individuals and businesses. Their offerings include car insurance, home insurance, and business liability coverage, aimed at helping customers manage risks and protect their assets. In recent years, Vaudoise Assurances has made strategic investments in the real estate sector, including a 20% stake acquisition in SEG Suisse Estate Group SA, which enhances their capability in managing third-party real estate assets. Additionally, they participated in funding rounds for Foxstone, an online real estate investment platform, indicating their interest in innovative real estate investment solutions. These transactions highlight Vaudoise Assurances' active role in the real estate market, particularly in managing and investing in valuable properties.


6. DWS Group

  • Website: dws.com
  • Type: Private Equity
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 6
  • LinkedIn: dws-group-com

DWS Group is a prominent asset management company based in Frankfurt, Germany, founded in 1956. It offers a wide range of investment solutions, including Xtrackers ETFs, to both individual and institutional clients. DWS Group focuses on portfolio management and investment advice, helping clients navigate the complexities of financial markets. Recently, DWS has made significant strides in the luxury real estate sector, notably through its Europe II fund, which has acquired the four-star Hotel GLAM in central Milan from Reale Immobili S.p.A. This acquisition, announced in December 2019, marks a strategic move to enhance the fund's diversified profile by tapping into Italy's growing hospitality market. The Glam Hotel acquisition further emphasizes DWS's commitment to investing in high-quality real estate assets, showcasing their active role in the luxury real estate landscape.


7. Edmond de Rothschild


The Edmond de Rothschild Group is a prominent financial institution founded in 1953, specializing in private banking and asset management. With a focus on responsible investment practices and a long-term vision, the group caters to institutional investors, private banks, and wealth managers. Notably, they have made significant strides in the luxury real estate sector, including the acquisition of a hotel on via Veneto in Rome for approximately €100 million, marking their entry into the hospitality market in Italy. This investment highlights their strategy to diversify their portfolio and engage in high-value real estate opportunities. Additionally, their involvement in various acquisitions, such as a stake in the Hottinger Group and participation in a consortium acquiring Duff & Phelps, showcases their broader investment approach while still maintaining a foothold in luxury real estate.


8. Aevis Victoria Sa

  • Website: aevis.com
  • Type: Venture Capital
  • Headquarters: Fribourg, Fribourg, Switzerland
  • Founded year: 1950
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: aevis-holding-sa

AEVIS VICTORIA SA is an investment company based in Fribourg, Switzerland, founded in 1950. The firm specializes in healthcare, hospitality, and infrastructure, operating private hospitals and luxury hotels. Notably, AEVIS has made significant strides in the luxury hotel market, acquiring the five-star Hotel L’Oscar in Bloomsbury, Central London, for £60 million, which is expected to generate annual revenues exceeding £20 million. Additionally, the company acquired the Hotel Schweizerhof in Zermatt for CHF63.2 million, integrating it into its luxury hotel portfolio. These transactions highlight AEVIS's commitment to enhancing the quality of life through high-quality services in the luxury hospitality sector.



Luxury Real Estate Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Partners GroupBaar, Zug, Switzerland1001-5000199619
Limestone Capital AGZug, Zug, Switzerland1-1020184
AllianzMunich, Bavaria, Germany10001+18905
SIGNA Group of CompaniesVienna, Vienna, Austria10001+19990
Vaudoise AssurancesLausanne, Vaud, Switzerland1001-500018951
DWS GroupFrankfurt, Hesse, Germany1001-500019566
Edmond de RothschildGeneva, Geneva, Switzerland1001-500019533
Aevis Victoria SaFribourg, Fribourg, Switzerland1001-500019501


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