Saturday, 10 May 2025
IntReal International Real Estate Kapitalverwaltungsgesellschaft mbH (INTREAL) recorded steady growth in the final quarter of 2024 despite a challenging market environment. The company’s assets under administration (AuA) reached approximately €66.6 billion by 31 December 2024, reflecting a year-over-year increase of €909 million (1.4%). Compared to the nine-month figures of 2024, AuA grew by €171 million (0.3%).
At the end of the year, INTREAL managed 321 funds, up from 305 in 2023. The number of properties under administration increased by 76 over the year, reaching a total of 2,737, with 20 added in the fourth quarter. The company’s workforce expanded slightly, with 528 employees across its offices in Hamburg, Frankfurt, and Luxembourg (2023: 520 employees).
Camille Dufieux, Managing Director of INTREAL, described the company’s 2024 performance as stable despite market challenges. He noted that while recovery in the real estate market has been gradual, activity is expected to increase in 2025. Institutional investors remain focused on indirect real asset investments, with growing transaction volumes suggesting a narrowing gap between buyer and seller price expectations. Dufieux also pointed to recent interest rate developments as a potential positive factor for real estate fund investments.
The Partner Funds division remained INTREAL’s largest business unit, managing 156 funds with AuA of approximately €36.2 billion, accounting for 54% of the company’s total AuA. The division’s AuA increased by €118 million in the fourth quarter and €848 million over the full year. This unit provides fund administration services to asset managers and property developers without their own AIFM licenses.
The AIFM Services division managed 165 funds with AuA of approximately €30.4 billion at the end of 2024, adding 14 new funds over the year. This division provides administrative support to licensed AIF management companies, including reporting, fund accounting, and risk management.
INTREAL expects stable demand for its services in 2025, with continued investor interest in real estate fund structures and administrative solutions.
