Investment & Asset Management

© Beat Schweizer



We are an independent investment boutique providing investment and asset management services in real estate. We invest both directly in real estate and in collaboration with institutional investors such as insurance companies and pension funds. Additionally, we act as a co-investing joint venture partner for international private equity and investment firms, as well as for individuals and family offices.

  • 850 Mio.

    Assets under Management (€)

  • 350.000

    Total Space (m2)

  • >50


  • 85%

    Occupancy Status


We leverage our deep expertise, comprehensive market knowledge, and extensive experience in the real estate sector to align investors’ individual investment profiles with attractive properties, which we manage with a focus on value creation. Our policies and processes reflect a balance between risks and opportunities, ensuring meticulous decision-making in sustainable investments.

Our challenge lies not only in meeting but exceeding our clients’ performance expectations; this is how we measure our success!


We create tailored investment products with attractive risk-return profiles for medium- to long-term oriented capital – such as funds, club deals, or individual investments. We specialize in commercial properties in Germany, particularly office and retail properties in the German A and B cities. Expertise and value are strengthened by investments in core-plus, value-add, and opportunistic real estate strategies.


As an independent partner, we believe that alignment of interests is the key to mutual success. With a focus on co-investments, our emphasis is on value-driven performance. Through a cohesive and interdisciplinary team of real estate specialists with extensive transaction experience, we deliver tangible economic success to our partners.

Our open, thorough, and goal-oriented communication is highly valued by our clients and partners and has resulted in an impressive track record with a substantial portfolio. Currently, we manage a commercial portfolio nationwide with an investment volume of approximately 900 million euros.


Founded in 2013 to complement Investa Real Estate’s longstanding project development business, thus completing the value chain of the real estate group and positioning Investa Real Estate as a full-service real estate company.



Executive Management
Institutional Asset Management Business


Executive Management
Institutional Asset Management Business


Executive Management
Institutional Asset Management Business

The real estate expert team of Rainer Thaler, Michael Gillmann, and Cristina Bäppler, who had been successfully collaborating since 2005, founded ICM in 2013 with the vision of creating an investment and asset management boutique as best-in-class.

Previously, all three had held executive positions at GE Capital Real Estate, where they collectively established the German platform with an extensive debt and equity portfolio (assets under management exceeding 6 billion euros).


© Beat Schweizer

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