Aggregate Holdings S.A.

Overview

Aggregate Holdings S.A. is a predominantly German-focused real estate investment company with significant presence also in Portugal. As of the first half of 2022, the company had €7.9 billion in assets and a project portfolio with €10.2 billion Gross Development Value. In its Build & Hold division, Aggregate owned Quartier Heidestrasse, the largest mixed-use real estate development project in central Berlin with approximately 371,000 square meters of gross floor area, Fuerst, the prime commercial asset located on Kurfürstendamm in central Berlin with approximately 183,000 square meters of gross floor area, and Walter and Green Living projects in Berlin with a combined gross floor area of approximately 762,000 square meters. In its Build & Sell division, Aggregate owned VIC Properties, the largest real estate developer in Portugal with approximately 727,000 square meters of gross floor area and €3.0 billion Gross Development Value. Additionally, Aggregate held a 6% strategic stake in Adler Group SA, among other investments. In May 2023, Aggregate completed the sale of VIC Properties for €670 million, marking a significant milestone in its strategy to simplify its capital structure and refocus on its core German markets. This sale resulted in a reduction of net debt of more than €670 million. The existing VIC management team remains in charge to lead VIC into the next phase of its development. Following the sale, VIC Properties received significant new funding to continue and further accelerate the development of its residential projects in Lisbon and in the region of Comporta and Melides. Aggregate Holdings continues to work on realizing the underlying value of its prime Berlin-based assets over time to pay down debt and de-lever the company, demonstrating its ability to successfully close major strategic transactions in the current environment.

Portfolio Companies