US Treuhand has received sales approval for its new closed-end public AIF, UST XXVII, and has announced the start of sales. This fund is designed to invest in high-quality commercial properties in economically strong US metropolitan regions. This represents a continuation of the company's real estate strategy, which has evolved over more than three decades. US Treuhand has long been considered one of the leading providers of closed-end US real estate funds for private investors in German-speaking countries. The predecessor fund to UST XXVII was one of the largest closed-end public AIFs by volume in Germany last year. Since its foundation, more than 15,000 investors in total have participated in US Treuhand's funds, realising a total investment volume of approximately 5.1 billion US dollars in cooperation with American partners.
Strategic Alignment and Investment Opportunities
The start of the sales period coincides with a market environment that US Treuhand explicitly intends to utilise. Following a significant price correction in the US commercial real estate markets, the company assesses the current market phase as a favourable investment window. The fund aims to participate indirectly in high-quality properties that were traded at higher prices in recent years. When selecting these properties, emphasis is placed on prime locations, substance, tenant structure, and resale potential under various scenarios. The company's investment philosophy, “Investing Together”, guides the fund's strategy. This means that investors do not invest singularly, but jointly with the owner of the property in the selected real estate. The company owner participates with a substantial portion of their own capital in the properties and simultaneously undertakes the asset management on site. This high level of own participation is intended to foster an alignment of interests between the initiator and investors, a characteristic that has distinguished US Treuhand since its foundation.
An example of the current acquisition profile is a Class A office property in the greater Dallas, Texas area. This property is already owned by an Estein company and is planned to become part of the UST XXVII portfolio in the future. The property is characterised by a high occupancy rate, a significant number of creditworthy tenants, and sustainable certifications, including the “LEED Gold” label.
Dallas – Fort Worth Growth Region
The Dallas – Fort Worth metropolitan region has established itself as one of the most successful growth regions in the USA over the last two decades. In the past ten years, the population experienced an increase of approximately 1.3 million people. Between 2018 and 2024, exactly 100 companies decided to relocate their headquarters to this region. This dynamic development is due to business-friendly location conditions, including the absence of state income and corporate taxes, as well as comparatively low living costs. With the planned opening of the Texas Stock Exchange in spring 2026 and extensive investments by renowned financial institutions such as Goldman Sachs and Wells Fargo, Dallas further strengthens its position as a leading financial and business hub in North America.
Volker Arndt, Managing Director of US Treuhand, stated that the current market environment has not been observed in this form since the financial and real estate crisis in 2008. He views attractive purchase prices for high-quality existing properties, positive economic data in selected metropolitan regions, and a near-stoppage of new construction activity in the US office market as factors currently creating the best opportunities.
