Our funds for private customers

Our open-ended real estate funds provide private investors with the opportunity to invest in broadly diversified portfolios that are actively managed by Union Investment, even where only modest amounts are available. The individual funds focus on different regions and have different risk-return profiles.

A stable foundation for investing in tangible assets

€ 32.5 billion

Amount invested in our open-ended real estate funds for private customers

We have been making the same product promise to our investors for over 50 years: dependable investment with a balanced risk-return relationship. We regularly receive top marks from rating agencies for our high level of expertise in property management and tenant management.
These independent assessments also highlight our strong international capabilities, while our open-ended real estate funds likewise regularly perform very well in industry Ratings.

Broad-based product family

We offer our investors a range of opportunities across different real estate funds that deliver attractive performance. The Unilmmo funds are marketed exclusively through our partners in the cooperative “Volksbanken und Raiffeisenbanken” network. immofonds 1 is targeted at private investors in Austria.

UniImmo:Deutschland Alexa Berlin

Unilmmo: Deutschland

The fund invests primarily in Germany. It also holds real estate assets in European cities such as Vienna, Paris and London.

UniImmo:Europa Barcelo Raval Barcelona

UniImmo: Europa

The fund’s focus is on European real estate locations, with ancillary investment in the Americas and Asia-Pacific.

UniImmo:Global One Coleman London

UniImmo: Global

The investment focus of our global retail fund is on the Americas, Asia-Pacific and Europe.


UniImmo: Wohnen ZBI

The Unilmmo: Wohnen ZBI investment universe comprises residential property of varying sizes and many different structures across Germany.

immofonds 1 Ramada Hotel Innsbruck

immofonds 1

immofonds 1 invests in office, commercial and mixed-use real estate in Austria and Germany.

About fund management

Find out more about our fund managers: UniImmo: Deutschland, UniImmo: Europa and UniImmo: Global.

Thomas Röhrs

Head of Fund Management UniImmo: Deutschland

Union Investment Real Estate GmbH
+ 49 40 34919 4164

Volker Noack

Volker Noack

Head of Fund Management
UniImmo: Europa/UniImmo: Global
Union Investment Real Estate GmbH
+49 40 34919 4345

Profiles of our fund managers

Thomas Röhrs

Thomas Röhrs has worked in fund management at Union Investment Real Estate GmbH in Hamburg since July 2008. As Head of Fund Management for UniImmo: Deutschland, he is responsible for the performance, management, strategic direction and control of this open-ended real estate fund.

Prior to taking up his current position, Mr Röhrs was employed in various roles at investment management company WestInvest between 1995 and 2008. He was responsible for marketing the WestInvest retail funds up to 2004, first as sales director and then as head of sales. From 2005 onwards, he worked in an investor management role, supporting institutional investors and carrying out key sales support tasks. Thomas Röhrs then took over the position of fund manager of open-ended real estate fund WestInvest 1 in 2007. Mr Röhrs was an officer in the German armed forces until 1994. He studied business administration at the University of the German Armed Forces in Hamburg.

Volker Noack

Volker Noack has been a member of the Management Board of Union Investment Real Estate GmbH since 2010. Since July 2020, he is responsible for the management of the open-ended real estate funds UniImmo: Deutschland, UniImmo: Europa and UniImmo: Global such as the Fund Support. 
Volker Noack has a degree in business administration and joined Union Investment Real Estate in 1996, working initially in the research section. In 2002, he joined the real estate financial control and expert appraisals team, subsequently serving as head of this department. Volker Noack was then head of the fund management department for three years, where his remit included managing the company's largest retail fund.

In February 2012, he took over responsibility for Investment and Asset Management International (Europe, France, America and Asia / Pacific) as Managing Director. Since January 2013, he has been responsible for the asset management and real estate project management Division.