Ontario Teachers’ Pension Plan has acquired four fully leased multifamily properties in Germany as a launching point to its new joint venture with DW Effectum (DWE) Residential. The partnership with the Munich-headquartered residential investment asset manager is aimed at adding further multifamily assets in major German cities and expanding the pension fund’s holdings across Europe.

“We focus on markets where active asset management and local expertise create lasting value and DWE’s market knowledge and operational capability make them the right partner to enhance asset performance and resident outcomes over the long term,” says Jenny Hammarlund, executive managing director, real estate, at Ontario Teachers’.

DWE has €700 million (CAD $1.1 billion) in assets under management. “We are very grateful for our new joint venture with Ontario Teachers’,” says Daniel Filser, managing director with DWE. “This transaction marks the beginning of a broader living strategy, and we are excited to further grow this portfolio over the coming years.”