Reneo, a Hamburg-based real estate technology and investment platform, has secured a €600 million capital platform. The funding will support the decarbonisation of Germany’s residential real estate sector. The company has secured €45 million in equity financing from top European investment funds such as Eurazeo, Lakestar and Foundamental, the family businesses Goldbeck and Bauwens as well as renowned business angels like Stefan Wiskemann and Fabian & Ferry Heilemann.
The investment reflects the growing institutional interest in the brown-to-green transformation of residential properties, a crucial step in aligning with EU climate goals. Reneo plans to deploy significant capital over the next 24 months to expand its portfolio of energy-efficient residential properties.
Strategic partnerships for asset financing
In addition to this, Reneo has established a joint venture with Peakside Capital, an independent real estate investment manager, to deploy nearly €500 million in debt and equity. The objective is to improve the energy efficiency of multi-family housing units by modernising underperforming assets. This joint venture complements an existing senior financing arrangement with Goldman Sachs, which provides additional liquidity to accelerate Reneo’s green transformation projects.
Decarbonises the housing market
Germany’s real estate sector faces mounting pressure to comply with the EU Taxonomy for Sustainable Activities and the broader European Green Deal objectives. Over 50% of residential buildings in Germany currently hold an energy performance certificate (EPC) rating of E or worse, underscoring the urgency of retrofitting existing housing stock. Reneo aims to achieve energy consumption reductions of up to 60% in renovated properties, making them more cost-efficient for tenants while enhancing long-term asset value for investors.
Founded in 2020 by Lennart Börner and Alexander Graubner-Müller, Reneo is the single-source solution for cost-efficient, large-scale refurbishment and decarbonisation of apartments and multi-family homes. It offers real estate asset management whilst leveraging its expertise in software technology to deliver a programmatic and standardised approach to decarbonisation, enhancing the value of residential assets through sustainable development serving both retail and institutional customers for single-unit and multi-family assets. The company has a proven track record with over €500 million of transaction volume since 2020, operating under the brands of CONDO and Reneo.
The company’s proprietary Reneo Core System (RCS) plays a pivotal role in optimising retrofitting strategies. The platform analyses vast datasets to determine the most efficient transformation path for each property, balancing factors such as energy savings, renovation costs, government subsidies, and asset value appreciation.
By integrating machine learning and automation, Reneo streamlines the decarbonisation process, making it scalable and economically viable for large-scale real estate portfolios.
Acquisition milestones
Since 2020, Reneo has bought and sold well above €500 million of assets across its platform. In 2024, Reneo invested over €200 million, acquiring more than 600 rental units across Berlin and Hamburg. These transactions form part of the company’s long-term strategy to scale its brown-to-green transformation across Germany and Europe. The acquired assets, spanning approximately 40,000 square meters, will undergo comprehensive energy-efficient retrofits, leveraging Reneo’s technology-driven approach to decarbonisation.
“We are investors in mind – climate stewards at heart”, said Founder and Co-CEO Lennart Börner. “Reneo is the only player tackling decarbonisation with a holistic lens, turning climate challenges into investor opportunities. With Germany’s real estate sector ripe for transformation, we see immense potential to drive both climate impact and economic value.”
Founder and Co-CEO Alexander Graubner-Müller added: “Our end-to-end solution streamlines the entire green building journey and combined with our outstanding track record, makes us the go-to partner for those who want to maximise both sustainability and returns. We are excited to team up with such strong partners who share our vision for a greener future.”
Boris Schran, Partner at Peakside, commented, “Real estate is one of the few remaining sectors where the challenge of decarbonisation and meeting net zero targets is yet to be fully addressed. After a thorough market screening in order to find the best partner for this endeavour, we are excited to partner with Reneo’s state-of-the art technology and real estate management expertise to meet this challenge, and return to the sector with positive sentiment.”
Pierre Devillard, Partner and Raphael Cattan, Investment Director at Eurazeo, said: “Our strategic investment in Reneo through the Smart City Fund II aligns with our commitment to drive tech-enabled sustainable and innovative urban transformation solutions with high growth potential. We are excited to partner with Reneo in their endeavour to streamline the process of decarbonising real estate holistically. We hope to support Reneo in bringing its unique technology across Europe in the coming years.”
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