Hot property - Munich proves popular with family offices
The Bahraini family office, Al Zayani Investments, has acquired a hotel and other commercial properties in Munich as it makes its first foray into the German property market. The deal follows a prominent local, but an unnamed family office, involved in the redevelopment of a prime commercial group of properties linked to the Porsche Centre in the southern German city. Munich property prices are among the most expensive in Germany and have been an investment hotspot in recent years.
Direct investment professionals prove popular at family offices
Around 81% of single-family offices have at least one full-time employee specializing in direct investment, according to a recent survey by Family Office Exchange, as reported by Bloomberg. Of the 118 offices polled, family offices had an average of three employees involved in the investment process, two of whom had some responsibility for direct stakes, said the research.