Charles Kingston

Sven Carstensen - Bulwiengesa AG

Bulwiengesa AG

Where can you still get a 5% yield in German real estate? That’s the question being asked for the last four years in an annual study published and presented by market research group BulwienGesa and supported by lawyers Beiten Burkhardt and... more


John Amram - HPBA GmbH


A new study shows that the number of so-called ‘off-market’ real estate deals in Germany is considerably higher than previously assumed, with investors prepared to pay a premium to avoid the time and expense of structured sales processes... more


Deutsche Wohnen - Zentrale

Deutsche Wohnen

It seems like only recently when Germany was a laggard in the European listed real estate sector, and we here at REFIRE have no difficulty remembering the plaintive wailing of the EPRA leadership at the slow pace of growth of... more


Peter Axmann - HSH Nordbank

HSH Nordbank AG

While the challenges facing investors in Germany’s retail real estate market remain real, market participants are adapting to the new environment, and developing new strategies to compete in a world of greater digitization and changing structures. more


Martin Herkenrath - OMEGA

© OMEGA Immobilien Gruppe / Lutz Voigtländer Fröbus GmbH

The Cologne-based fund manager Omega Immobilien has launched a €50m daycare property fund with a pension fund for regional German dentists association, Versorgungswerk der Zahnärztekammer Nordrhein (VZN) as sole investor. more


Saul Goldstein - Activum SG

Activum SG Capital

The Jersey-based real estate fund manager ActivumSG Capital Management sold its entire remaining stake in listed German residential developer Instone earlier this month. more


Aareal Bank in Wiesbaden

Aareal Bank AG

We mentioned in last month’s issue of REFIRE that the Wiesbaden-based real estate financier Aareal Bank was rumoured to be in discussions to buy the small Düsseldorfer Hypothekenbank, a commercial property lender which got into difficulties... more


Deutsche Bank - Frankfurt

Kiefer, CC BY-SA

Qatari investors attending the recent Qatar-German Business & Investment Forum in Berlin earlier this month, the fourth such event, were very bullish about the German economy in general, and several key players said they specifically... more


Real Estate Study

© Eisenhans -

More than €20bn of real estate assets are expected to be released back into the market, over the next 10 years, as funds reach their end of life. Particularly in focus will be funds with a retail concentration, which is likely to put further... more


Charles Kingston - REFIRE


Billionaire startup investor Peter Thiel made headlines when he bought an estate on New Zealand’s South Island as a bolthole in the event of global apocalyptic Armageddon. Luckily for him – and fellow futurologists like Elon Musk... more


Loan portfolio

© Tomasz Zajda -

Helaba Invest, the asset manager of the Frankfurt-based landesbank Helaba, is for the first time offering a fund based on real estate loans that gives savings banks (Sparkassen) access to Helaba's own diversified credit portfolio. more



© science photo -

Even by Frankfurt’s standards, it was a busy week for sales. No less than three office towers changed hands within a seven-day period earlier this month in the city for more than a billion euros, along with a number of significant other office transa more


Philipp Schaper - Patrizia


Patrizia Immobilien subsidiary TRIUVA, has agreed the forward purchase of Junghof Plaza, a 33,000sqm, mixed-use property in the centre of Frankfurt, for about €400m. The property was bought on behalf of a large German pension scheme from a joint vent more


Housing market

© Andrey Popov -

The boom in investment into the student and micro-housing market in German shows no sign of any let-up, with transaction volume for the first half of the year up a whopping 224% to more than €1.6bn, shows the latest study by property brokers CBRE. more


Berlin - Summit Germany

DRESTATE Services GmbH

Summit Germany Ltd, the AIM-listed German commercial property investment company, has agreed to buy a 72% controlling interest in German real estate company GxP from German firm Consus Real Estate for €45 million. more


Warehouse and logistic space

© maxoidos -

The average European logistics yield dropped 14 basis points (bps) to 5.95% in Q2 2018, the first time it has fallen below 6% since Cushman & Wakefield began regularly tracking the three main property sectors in 1992... more


Dr. Louis Hagen

Münchener Hypothekenbank eG

Despite posting half year figures which showed net interest income rising by 11% year-on-year, the Munich-based property financier MünchenerHyp saw new business lending fall sharply, against a background of higher pressure... more



© Marcus Klepper -

A report published last week by Capital Economics suggests that German office capital values are likely to peak in 2018, although the report concludes that after rising steadily for years, a sharp correction seems unlikely. more


Union Investment

Union Investment

The latest investment climate study carried out by heavyweight fund manager Union Investment provides a clear indication of a shift in sentiment among institutional property investors... more


Thomas Landschreiber - Corestate Capital


The Frankfurt-listed Corestate Capital boosted its revenue to €125.8m in the first half of the year, while pushing group earnings up from €22.8m to €60.8m. Assets under management rose by more than €900m to about €22bn. more