Hines has added a 25,173sqm mixed-use development in Germany to its core European real estate fund and promoted Simone Pozzato, the fund’s deputy manager, to lead the fund. Pozzato’s appointment as Hines European Core Fund’s (HECF) fund manager follows Peter Epping’s appointment as the firm’s new global head of ESG. Hines said it has invested an undisclosed sum on behalf of HECF to buy Friesen Quartier in Cologne from a joint venture between Proximus Real Estate and Quantum Immobilien. The Friesen Quartier comprises 12,000sqm of office space, 7,000sqm of residential and 2,000sqm of leisure and retail that will include 460 underground car parking spaces, two daycare centres and outdoor areas. Hines said the deal is the latest in a string of significant acquisitions for HECF with €1.1bn committed in the last 15 months alone. Pozzato said: “This is an exciting time for the fund as we continue to evolve and reshape the balance of assets, while broadening our investor base, particularly from the US and Asian markets. “We see a great opportunity for diversified real estate funds that are able to take advantage of opportunities in different countries and sectors. As such, we have a very strong pipeline of deals in progress with many in exclusivity and we remain committed to the ESG industry benchmarks we have set while delivering best-in-class returns.” Alexander Knapp, CIO – Europe, at Hines, said: “Having committed more than €1.1bn of new acquisitions in 2020 and 2021 demonstrates the strength of our local platform which constantly sources new investment ideas for our flagship vehicles. “We are confident that Simone will continue to lead the expansion of the Fund with a dynamic and thoughtful investment approach which has shaped the success of HECF to date.” To read the digital edition of the latest IPE Real Assets magazine click here.