Current Focus:
Multifamily housing and project developments with interesting upgrade potential.
Strategy:
Real estate in growing regions in the east and south-east of the United States.
ABOUT
German American Realty (GAR) is an investment and fund manager focused on the U.S. residential market. GAR offers customized U.S. investment solutions to high-net-worth individuals, family offices and institutional investors.
The investment strategy focuses on the purchase of existing residential assets (multifamily) with interesting appreciation potential as well as on the execution of new construction developments. The geographic focus is on metropolitan regions in the growth markets of the south and southeast of the USA (“Sunbelt”).
The team relies on a combination of expertise, entrepreneurial action and local presence. Each real estate project is intensively examined and implemented in close cooperation with local partners. The range of services includes the value-oriented management of projects through all phases of the business plan – from the individual structuring of new investment products, real estate acquisition, active asset management to the sale.
Since its founding in 2014, the company has acquired multifamily assets valued at more than $1 billion in 26 separate transactions. The success is based on many years of experience of all managers involved, a network of established business relationships in the U.S. and a dedicated organization in Florida.
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Access to the profitable US real estate market
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Experienced and reliable partners in Germany and the US
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Management and monitoring of the property development
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Professional controlling and regular reporting
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Mutual interest in success

GAR news
December 2022
German American Realty with Christmas charity
December 2022
German American Realty expands partner network in the US
November 2022
German American Realty raises $40 million for second closing of US Invest Residential I Multifamily fund
October 2022
US Multifamily report II 2022 – bulwiengesa
September 2022
Trends in the US-housing market
Guest article in Intelligent Investors magazine
Issue 3/ 2022
July 2022
German American Realty for the first time with asset class single-family homes for rent (SFR) in the US-market
Publication on 27.07.2022
June 2022
German American Realty acquires a 120-unit rental apartment complex in South Carolina
Publication on 14.6.2022
May 2022
German American Realty raises highest equity volume since its foundation in 2021
Publication on 24.05.2022
April 2022
US Multifamily Monitor Marktreport I 2022 – bulwiengesa
Publication on 08.04.2022
December 2021
Macquarie Asset Management and German American Realty secure a U.S. real estate mandate from DEVK insurance group
Publication on 15.12.2021
October 2021
US Multifamily Monitor – bulwiengesa
Edition 2nd half of 2021
Publication on 05.10.2021
March 2021
US Multifamily Monitor – bulwiengesa
Edition 1st half of 2021
Publication on 31.03.2021
February 2021
„Dynamik in den Metropolen im Süden“
Interview with Dr. Christoph Pitschke
Frankfurter Allgemeine Zeitung from 05.02.2021
January 2021
„Seit Trump abgewählt ist, kommen die Kunden zurück“
Interview with Dr. Patrick Adenauer
Handelsblatt from 22.01.2021
October 2020
Publication of 1st issue of “US Multifamily Monitor” with bulwiengesa
22.10.2020
May 2020
„Amerikas Immobilien bleiben attraktiv“
Interview with Fabian Bauwens-Adenauer
Frankfurter Allgemeine Zeitung from 15.05.2020
April 2020
Grace Woods wins „NAA Sustainable Living Innnovation Silver Award“
Apartments Grace Woods, Austin Texas
January 2020
„Der Staat ist nicht der bessere Bauherr“
Interview with Dr. Patrick Adenauer
Handelsblatt 31.01.2020
December 2019
GAR supports Angel Tree Christmas charity initiative
The Vines Apartments, Lewisville Texas
Fall 2019
Comparing German and US Multifamily Housing
AFIRE Summit #2 / Fall 2019
www.afire.org/summit
November 2019
German interview with Dr. Patrick Adenauer: “Kein Mietendeckel in Texas”
Immobilienmanager
June 2019
Video Marisol Vista Apartment Homes
January 2019
Interview with Dr. Patrick Adenauer
IPE Institutional Investment

TEAM
Founding Partner
Dr. Gisbert Beckers
Active on the US real estate market for over 25 years. In addition to own investments, he oversees the structuring and handling of real estate projects.
Founding Partner
Dr. Patrick Adenauer
Managing Partner of the BAUWENS group in Cologne since 1989. Has in-depth expertise in all areas of asset management. Has been active in the US with own investments for many years.
Managing Partner
Dr. Christoph Pitschke
Several years of experience in real estate advisory of family offices and as manager of real estate investment funds for institutional clients. Graduate of Georgia State University (Atlanta) and Member of the Royal Institution of Chartered Surveyors.
Managing Partner
Fabian Bauwens-Adenauer
Several years of real estate experience acquired during employment at a major US-based investment company. Expert in the acquisition and management of real estate assets for institutional investors.
Managing Partner
Jens Lafrenz
Has many years of experience in the strategic and operational development of companies as well as transaction management together with family offices and private equity partners. Graduate of University of St. Gallen.
Founding Partner
Burchard von Arnim
Active on the US real estate market together with Dr. Gisbert Beckers for over 25 years. Founder and CEO of von Arnim Private Consulting Wirtschaftsprüfungsgesellschaft mbH. Focuses on real estate businesses on the German market and at international level.
Founding Partner
Paul Bauwens-Adenauer
Managing Partner of the BAUWENS group since 1986. Provides many years of expertise in the financial and real estate sectors, also in the US. Involved in various supervisory and administrative board mandates. He possesses an extensive network and expertise.
Founding Partner
Alexander Jacobi
Managing Director of several companies of the BAUWENS group since 2005. Expert in the field of project development. Several years of experience in the real estate market, with multifamily investments in the US, amongst others.
Head of Investor Services + Marketing
Claudia Krämer
Responsible for services at various US real estate investment companies for over 10 years. Long-standing expertise in transaction support. Previous marketing employment in Germany and London. Master Degree International Management and Marketing.
Head of Investment Management
Raphael Vercio
Investmentmanagement and Assistant of Board Management. International studies with focus on finance. Master graduate of European Business School (EBS Universität für Wirtschaft und Recht) in Oestrich-Winkel and the Antai College of Economics and Management of the Shanghai Jiao Tong University in Shanghai.
Acquisitions Manager
Ryan Thayer
Multiple years of professional experience in the US real estate market as an Acquisitions Manager for a non-profit equity syndicator in North Carolina, providing private equity for the construction of affordable housing. Over the course of his career, Ryan has closed 26 affordable housing investments within the southeastern United States. He is a graduate of The Ohio State University with a Bachelor of Arts in Economics. Ryan is a US citizen and has lived in Cologne since 2022.
Investment Associate
Jana Becker-Maier
Several years of professional experience in real estate investment and fund management with a focus on institutional investment mandates in Germany as well as the US. Master graduate of IREBS International Real Estate Business School Regensburg.
Investment Associate
Leo Rosarius
Investmentmanagement, analysis and support of private investment mandates. Several years of professional experience in Management Consulting with focus on transactions and financial restructuring, most recently buildup and head of finance of a MedTech-Startup. International Studies in the Netherlands and USA with major in finance. Real Estate Economist graduate of IREBS in Regensburg.
GAR Managing Director located in the US
Marc Tetzner
Has many years of experience in the US real estate market. Lives and works in Florida since 2001 and holds US citizenship. Has been advising international investors on real estate transactions in the US since 2004 and joined the GAR Group in 2017 as Managing Director of the companies in the US.
Assistant of Board Management
Petra Kischitzki
Assistant of Board Management and office management since 2017. Trained banker and over 14 years of experience as an assistant in IT/Marketing, Sales and Purchasing also on an international level.
STRATEGY
Why US real estate?
In order to diversify into different regions and compensate for currency and economic risks in real estate portfolios, the US have developed into an important target market. In addition to a long-term stable economy, it offers constant population growth.
Another aspect is the socio-demographic change taking place in the US. The increase of single households, the rise in demand for housing, as well as a preference for urban living are all sustainable growth factors.
Real estate projects in the US also benefit from specific conditions, such as simplified legal structures and transparent tax policies.
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Diversification into economic regions outside the Eurozone
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Regions with a focus on continual economic growth
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Growth forecast for the US real estate market remains positive
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Special focus on multifamily asset class
Why multifamily housing?
- This category historically accounts for around 24% of the US real estate capital market
- Increase in population and rising number of households
- Stable demand for apartments, especially in metropolitan areas
- Low vacancy rates between 4.5% and 5% for rental properties
- More liberal tenancy laws in favor of landlords and significantly shorter rental periods
- Attractive yield potential and lower volatility compared to commercial real estate
- Upside potential through active rental management and continuous upgrading of apartments
- Shorter lease contract terms constitute both “opportunities and risks”. The importance of operational management is very high in this respect.
Multifamily housing =
Professionally managed apartment houses with shared facilities such as swimming pool, fitness centre, lobby and 24h-services.

ESG – Environmental Social Governance
ESG refers to an environmentally friendly and responsible business conduct, which takes responsibility for the society and environment in which it operates, and thus shapes its management and control processes accordingly. We as GAR work consistently towards implementing and improving our ESG concepts.
SERVICES
German American Realty advices and supports entrepreneurial and operational real estate projects in the USA over the entire term.
German American Realty also acts as a co-investor, controls and develops all strategic and financial interests.
The objective is to optimize current revenue and increase value in the project period.
1. Acquisition
Selection of property + local partner
Identification and selection of real estate projects,
Analysis of credit rating and qualifications, project acquisition by trusted partners
Investment evaluation
Location and market analysis, feasibility study, risk/ opportunity assessment
Financial structuring
Equity, mezzanine and financed capital
2. Transaction
Contract negotiation
Contractual structuring
Contract ratification
3. Ongoing support
Asset-Management
Active control of development, restructuring, letting and sales processes
Financial-Controlling
Cash outflow review, profit planning and monitoring, budget vs. actual comparison, deviation analysis and implementation of solutions
Financial-Reporting
Preparation/review and forwarding of investment reports
PROPERTIES
CONTACT
German American Realty GmbH
Holzmarkt 1
D-50676 Cologne
Tel: +49 221 40084 342
gar@german-american-realty.com

Legal notice
German American Realty GmbH
Holzmarkt 1
D-50676 Cologne
Tel.: +49 221 40084 342
E-Mail: gar@german-american-realty.com
District Court of Cologne HRB 91791
Managing Directors: Dr. Patrick Adenauer, Dr. Gisbert Beckers, Dr. Christoph Pitschke, Fabian Bauwens-Adenauer, Jens Lafrenz
Register of brokers (www.vermittlerregister.info). Registration number: D-F-142-TGBI-68
VAT identification number: DE308090905
Investment broker with a licence according to §34f paragraph 1, sentence 1 no. 2 of the industrial code (GewO). Licencing authortity: IHK zu Köln, Unter Sachsenhausen 10-26, 50667 Köln.
Design and implementation
Herret von Haeften GmbH
Zippelhaus 3
D-20457 Hamburg
www.hvh-design.de
Copyright
Unless otherwise indicated, all pages of this website are subject to copyright. This especially applies to texts, images and graphics, including their arrangement on the web pages.
Any reproduction or use of the material on this website (or parts thereof) in other electronic or printed publications and publications thereof (also online) requires prior consent from German American Realty GmbH.
Some images, graphics, text or other files may be wholly or partially subject to copyrights of third parties. In this respect, we list the following authors:
- Photography U.S.A.: Mark H. W. Hiebert - San Antonio, Texas, USA
- Photography U.S.A.: AA Bel Air Holdings LLC, 954 W. Washington Blvd., Ste. 415, Chicago IL 60607
- Photography U.S.A.: Brad Bell, 3333 W. Hospital Avenue, Atlanta, GA 30341, USA
- Photography U.S.A.: De Vore Design LLC, 1280 102nd Avenue N., St. Petersburg, FL 33716
- Visualization Farmers Market: LYND Development Partners - San Antonio, Texas; U.S.A.
- Photography of start picture, background: f11photo / Vladitto / Peshkova / shutterstock.com
- Rendering Woodfield Reston: KTGY Architecture + Planning
- Rendering Ablon at Harbor Village: HDEK Architects (formerly BGO Architects) – Addison/ Texas
Data Privacy Notice
I. Name and contact information of the controller
German American Realty GmbH
Holzmarkt 1
50676 Cologne, Germany
Tel: +49 221 40084 340
Email: datenschutz-gar@german-american-realty.com
(hereinafter referred to as “we”)
Data Privacy Officer:
Hans-Peter Fries
Düsseldorf/Cologne
Schloß Eicherhof
42799 Leichlingen
Telefone: +49 2175 1655-0
Email: datenschutz-gar@german-american-realty.com
II. Provision of website and log file creation
1. Description and scope of data processing
Every time our website is accessed, our system automatically collects data and information from the computer accessing our system.
The following data is collected:
IP address of the Internet connection accessing our system
Browser type and version
Referrer URL
Date and time of server enquiry
Any files accessed and data volume transferred
The data collected is stored in our system log files for 7 days and subsequently deleted or masked, making it impossible to trace any information back to a specific user.
2. Legal basis for data processing
The legal basis for storage of IP addresses and other data (also in log files) is Art. 6 para. 1 (b) and (f) General Data Protection Regulation (GDPR).
3. Purpose of data processing
Temporary storage of your IP address by our system is necessary to enable your computer to access our website. We need to store your IP address for the duration of the session for this purpose.
Data is stored in log files to ensure the functionality of our website. This data also helps us to optimize our website and ensure the security of our IT systems. Data is not analyzed for marketing purposes in this context.
Our legitimate interest in data processing lies in these purposes pursuant to Art. 6 para. 1 (f) GDPR.
4. Duration of data storage
User data is deleted as soon as it is no longer required for the purpose for which it was collected. If data has been collected for the purpose of making our website accessible to users, that data will be deleted as soon as the session has ended.
User data that is stored in log files will be deleted as soon as its storage is no longer required (e.g. to determine misuse).
5. Right to objection and deletion
Data collection for providing website access and the storage of data in log files is absolutely necessary for operation of the website. As such, there is no right to objection.
III. Email/contact form
1. Description and scope of data processing
You can contact us through our website via email or by filling out our contact form. We will store any personal data you provide in both cases. The data contained in your email will not be transmitted to third parties.
2. Legal basis for data processing
The legal basis for processing data transmitted through our website (email/contact form) is Art. 6 para. 1 (f) GDPR. If you are seeking to conclude a contract by contacting us through our website, additional legal regulations as specified under Art. 6 para. 1 (b) GDPR shall apply.
3. Purpose of data processing
This data will only be used to process our correspondence.
4. Duration of data storage
Your data will be deleted as soon as it is no longer required for the purpose for which it was collected. Personal data transmitted via email will be deleted after our correspondence with you has ended. Our correspondence will be considered ended when there are apparent indications that the matter at hand has been resolved conclusively.
5. Right to objection and deletion
If you have chosen to contact us via email, you may object to the storage of your personal data at any time. Should you choose to do so, we will be unable to continue our correspondence.
To object, please contact us via the contact information provided under I above. Should you choose to object via telephone, you will be required to provide an identification document proving your identity.
Upon receiving your objection, we shall delete any personal data that was stored at the time of initial contact.
IV. Your rights
You have the following rights when it comes to your personal data processed by us:
1. Withdrawal of any consent given
You can withdraw any consent given to us at any time with effect for the future.
2. Obtaining information
You have the right to obtain information about the personal data we collect about you.
3. Correction and deletion
You have the right to correct any inaccurate or incomplete personal data pursuant to Art. 16 GDPR and to delete personal data pursuant to Art. 17 GDPR.
4. Restricting data processing
Pursuant to Art. 18 GDPR, users can restrict the processing of their personal data.
5. Right to objection
You have the right to object at any time to the processing of your personal data by us for reasons arising from your particular situation, to the extent such objection is in compliance with Art. 6 para. 1 (e) or (f) GDPR.
6. Publication of data and data transfer
You have the right to receive from us any personal data that you have provided to us in a structured, commonly used, machine-readable format. You also have the right to request that we transmit such personal data at your instruction to another controller to the extent technically feasible. You may assert these rights free of charge. Please contact us should you wish to exercise these rights.
7. Right to lodge a complaint
Should you feel that we are not in compliance with our data privacy obligations, you can contact the responsible data protection supervisory authority at any time, e.g. the Commissioner for Data Protection and Freedom of Information for the State of North Rhine-Westphalia.
V. Obligation to provide data
You are not under any legal or contractual obligation to provide personal data to us. However, data that is required for the provision of a service must be provided to us so that we can offer that service. Otherwise we will not be able to provide the service.
[Last updated: May 2022]
Further Information
Download Further Information

GAR sponsors myclimate. Carbon offset projects are reducing these emissions in developing and emerging countries. The projects meet the highest standards and contribute to the UN’s sustainable development goals (SDGs). Myclimate projects not only reduce greenhouse gas emissions but also contribute to the social, ecological and economic development in the region.