Triuva achieves attractive return with green fund, while also completing asset sale programme across multiple portfolios – EuropaProperty

Triuva Kapitalverwaltungsgesellschaft mbH (TRIUVA) has successfully closed out its IVG Premium Green Fund with the sale of its last holding. The fund for sustainable office properties, originally launched in 2010, realised an internal rate of return of around 8 percent per annum for its fund investors, including Austria’s VBV-Pensionskasse AG and VBV – Vorsorgekasse AG.

Triuva took advantage of the improving market environment since 2014 and sold the four properties held by IVG Premium Green Fund in Berlin, Munich, Frankfurt and Bonn. With a combined market value of approximately EUR 280 million, all four properties were newly built structures with green sustainability certifications.

“With this successful outcome, we have demonstrated that green investing is not only good for the conscience but also for returns,” said Martin Tartsch, Head of Fund Management II at Triuva.

Among the fund’s investors was Austria’s VBV Group, specifically its two retirement savings vehicles VBV-Pensionskasse AG and VBV – Vorsorgekasse AG. “As a market leader in Austria, and a company that invests entirely in innovative, sustainable solutions, we were convinced by this green building fund from the very beginning,” explained Günther Schiendl, managing director of VBV-Pensionskasse. “It is through investments such as this that we are able to generate outperformance at VBV, because we are investing sustainably.”

The sale of the final property from the IVG Premium Green Fund also marks the end of a broader asset sale programme initiated by Trivua in March of 2014, spanning multiple portfolios. Its objective was to realise full value for non-core properties totalling EUR 2.5 billion in a highly favourable market environment.

“In carrying out our asset sales programme, we optimised the interests of our investors while also demonstrating our ability to manage complex investment portfolios,” added Martin Tartsch. “We intelligently combined properties with value appreciation potential together with properties with strong exit characteristics. This was the key to our success. From our investors’ perspective, our asset sale strategy has worked well. We are particularly pleased that investors have again entrusted us with a portion of the proceeds to reinvest in new Triuva ventures. With the planned asset dispositions complete, we are shifting into higher gear and focussing exclusively upon growth and optimisation of our current funds.”