de en

About us

Aggregate Holdings is a predominantly German-focussed real estate investment company, with interests also in Portugal. It has over € 8.3bn of assets and a €9.5bn gross development value project portfolio.

As a fully integrated platform we cover the full real estate development value chain when investing in residential and commercial projects with robust fundamentals and strong growth prospects.

From project acquisition to financing, planning and development, all phases are led by a highly experienced management team with a strong operational and transactional track record and supported by dedicated local teams.

Our vision & values

Creating sustainable value for our partners and stakeholders is our core aspiration.

By using our platform, network and unique capabilities in real estate to address some of Europe’s most pressing housing issues, we want to become one of the leading European real estate investment companies.

In managing and expanding our diversified portfolio of opportunities, we are strongly focussed on our mix of development assets, yielding assets and financial real estate assets.


Benjamin Lee

Managing Director and Chief Financial Officer

Benjamin has over 27 years of corporate finance experience including 14 years in investment banking at UBS in London, and over 5 years of experience as a CFO of listed companies in the UK and Germany.

• Benjamin worked for UBS Investment Bank in London and New York City for 14 years on M&A related financings
• From 2009-2014, he was Head of Business Development and then CFO of a UK listed mining company
• Most recently, he was CFO of Consus Real Estate AG, the largest listed German property developer from 2018-2020, prior to its acquisition by ADO Properties SA.

During this time, Benjamin introduced IFRS accounting and quarterly reporting, positioned the company on the financial markets, undertook a number of significant acquisitions and issued EUR 450m of bonds.

John Nacos

Managing Director and Chief Investment Officer

John Nacos has over 30 years of experience in the financial industry in New York and London, having been Global Head of Commercial Real Estate debt at Deutsche Bank AG.

Mr. Nacos served as Supervisory Board member at CA IMMO, a Vienna-listed property company from 2015 to 2019 and was instrumental in steering the company’s success.

At Aggregate, Mr. Nacos is responsible for acquisitions and investments.

Our strategy

Our philosophy is to extract long-term value for our stakeholders and partners at every level during the investment process.

Based on our strong, established network and deep market connectivity, we have access to undervalued assets and special situations with potential for significant value creation.

Following a rigorous due diligence process, new investment opportunities are often acquired at off-market at a very value accretive prices.

Post acquisition, the assets are actively managed and the following areas optimised : asset configuration and scale, financing structure and cashflow profile.

The strategy is to create platforms or assets in excellent locations which will continue to create value over time and which will be attractive to future purchasers.

Investment selection follows our three core business pillar strategies:

Build & Hold assets

Development assets –constructed and held long-term for rental income generation

Build & Sell assets

Development assets –constructed and (forward) sold to third parties for revenue generation

Financial real estate assets

Investments with higher liquidity, either long-term strategic assets or oppor- tunistic short-term assets

Value Creation Process

Constant screening of investment opportunities

Investment selection

Due-dilligence process


Build & Hold

Cash-flow Yielding Assets

  • Planning optimisation
  • Building permit obtained
  • Construction of asset
  • Letting phase
  • Long-term active asset management
  • Recurring cash-flow & rental income

Build & Sell

Real Estate Development Businesses

  • Planning optimisation
  • Building permit obtained
  • Project forward sold to institutional investors
  • Construction of asset
  • Title deeds transferred at completion
  • Revenue and cash-flow generation

Financial real estate assets

Strategic and / or opportunistic

  • Strategic long-term investments
  • Opportunistic short-term investments
  • Various investment timeframes & strategies
  • Focus on maximising shareholder value creation
  • Liquid investment profile
  • Revenue and cash-flow generation