About DB Real Estate
Small team.
Long memory. Picky.
We are a partner-led real estate investment firm based in Larnaca, Cyprus. Founded in 2015 to pursue cross-border opportunities that larger institutions overlook. No fund cycle pressure. No index-hugging. No pressure to deploy for the sake of deploying.
DB Real Estate, Investments & Consulting Ltd invests across three strategies — income-producing commercial and residential, branded vacation and leisure, and selective global opportunities. We partner with family offices, high-net-worth individuals, and institutional co-investors who want access to curated deal flow with aligned economics.
Our edge is boring on purpose. We know our markets inside-out, we underwrite conservatively, and we hold assets long enough to let compounding do the work. Our partners co-invest in every deal. Our fees are tied to realised returns.
We are not trying to be the biggest. We are trying to deliver the most consistent net-of-fees IRR to a small circle of investors who keep coming back.
€480M+
Capital deployed
Across 40+ transactions since 2015
11
Countries
Active markets across Europe and select emerging regions
17.4%
Realised IRR
Weighted average, net of fees, on closed deals
84%
Investor repeat rate
LPs who commit to a second or third deal
Our approach
Five steps. Every deal. No shortcuts.
We run every transaction through the same process, from origination to exit. The discipline is the product.
- 1
Origination
We see more than 1,000 deals per year through local operator networks, broker relationships, and reverse enquiries. Fewer than one in thirty is underwritten seriously.
- 2
Underwriting
Three independent models: base, bear, and stretch. Deals clear on the bear case. Stretch scenarios are a tie-breaker, never a thesis.
- 3
Structuring
Per-deal SPVs with independent administrators and Big Four audit. Investor rights documented, returns waterfall published before commitment.
- 4
Asset management
In-house portfolio team coordinates operators, capex programmes, leasing, and reporting. Quarterly written updates. Annual investor day.
- 5
Exit
Pre-agreed exit windows for every deal. Secondary markets, strategic buyers, institutional recapitalisations — we optimise for the best outcome, not the fastest.
The team
Partners on every deal.
A small team with deep cross-border experience. Every partner has skin in every investment.
Daniel Barak
Managing Partner
Twenty years in cross-border real estate across Europe and the Middle East. Previously head of acquisitions at a pan-European REIT.
Anna Varga
Head of Investments
Leads origination and underwriting. Former senior associate at a top-tier European private equity real estate fund.
Marios Christou
Head of Asset Management
Oversees portfolio performance, capex programmes, and operator relationships across the firm's hospitality holdings.
Katja Lindholm
Head of Investor Relations
Primary contact for LPs and family offices. Coordinates reporting, capital calls, and co-investment syndication.
Let's talk
A quiet conversation about where capital can work harder.
Tell us a little about yourself and what you are exploring. We reply within one business day. No boilerplate, no pressure.
- Office
- Griva Digeni 3, Patsalos House, 5th floor, office 501
6030 Larnaca, Cyprus