Deutsche Bank
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First Austrian benchmark bond helps fuel merger speculation
Austrian listed property group Immofinanz bolstered its finances earlier this month when it placed €500m of fixed rate senior unsecured notes with a four year maturity and a 2.65% coupon. The net proceeds of the note issue will be used for the refina Read more
Activum SG Capital
ActivumSG exits Instone Real Estate in sudden block sale
The Jersey-based real estate fund manager ActivumSG Capital Management sold its entire remaining stake in listed German residential developer Instone earlier this month. Read more
Kiefer, CC BY-SA
Qataris ready to invest billions in German real estate
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... Read more
REFIRE
Trickles to streams, streams to rivers. Finally it looks like an exodus.
Two years ago, shortly after the Brexit referendum, the FT Weekend edition published an article by Tyler Brûlé, the flamboyant Canadian publisher of lifestyle magazines Wallpaper and Monocle. Read more
Commerzbank AG
Top scores for Germany's open-ended funds in annual review
Germany's open-ended real estate funds have been riding a wave of liquidity to clean up and diversify their holdings, largely to very good effect, according to the latest annual ratings issued by Berlin-based rating agency Scope. Read more
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Occupancy rates at German open ended funds in further rise
Germany's eighteen open-ended real estate funds have been busy doing their housekeeping since the whole sector found itself back on a stable footing in the aftermath of the liquidity crisis and the introduction of new regulations guiding the sector. Read more
Joke Emmerechts/EPRA
Extending a hearty welcome to our new Australian investors
It's now more than ten years since the German real estate industry was in a collective tizzy about the new forthcoming REITS legislation. Read more
Tino Pohlmann
Newly-public Instone to develop listed Halle space for residential
nstone Real Estate has acquired a former tea trading headquarters in Halle an der Saale that it plans to convert into more than 100 apartments for an undisclosed sum, it announced this week. Read more
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Co-working: London and Berlin expected to be Brexit winners
Co-working is shaking up global office markets, following a record year for new co-working take-up, according to C&W’s ‘Co-Working 2018’ report, published this month. Read more
Bayrische Versorgungskammer
BAV entrusts €1bn portfolio to Deutsche Asset Management
Giant German pension fund Bayerische Ärzteversorgung (BAV) is outsourcing the management of a €1bn global property portfolio to Deutsche Asset Management, the alternative assets investment arm of Deutsche Bank. Read more
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Instone flotation to value company at more than €1bn
German residential property developer Instone Real Estate Group confirmed this month that it planned to go public by listing its shares on the Frankfurt Stock Exchange this year. The IPO, mooted to be for mid-February but almost certainly in the... Read more
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Nordic Capital Fund VIII swallows German operator Alloheim
Swedish buyout group Nordic Capital is buying Alloheim, Germany’s second-largest nursing home operator, for about €1.1 billion including debt, from the Carlyle Group. Nordic Capital said it intended to support Alloheim’s management... Read more
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Liquidity ratios climbing at German open-ended funds
It's only a few years ago since the German open-ended funds industry was in crisis leading to widespread liquidations – due to a lack of liquidity. The sector is suffering again, but this time for the opposite reason – a surplus of liquidity – as... Read more
REFIRE - Florian Glock
CR teams up with Oxane, takes equity stake
Pan-European real estate advisor and manager CR Investment Management and Oxane Partners, a UK-headquartered service company for alternative asset managers, have formed a new partnership to deliver systems and technologies to support CR's asset... Read more
Situs Holdings
Situs bolsters European business with Hatfield Philips takeover
The deal had been brewing for several months and had been well flagged by the major players involved, but loan servicing and NPL loan management firm Situs has now bought competing debt advisory group Hatfield Philips International (HPI) from... Read more
Kiefer, CC BY-SA
Will Germany flout Europe’s bail-in rules if Deutsche Bank needs rescuing?
Will Deutsche Bank need rescuing? It’s a question that is being asked as this big beast of global banking gears up to announce its third quarter results on October 27. With losses expected to be north of €600m (£534m), the backdrop is dismal... Read more
IVG
IVG Immobilien brings further banks on board for IPO
As REFIRE reported in recent issues, Germany's erstwhile largest listed property IVG Immobilien AG has embarked on the sale of its core property portfolio under the flag of its new corporate identity as Officefirst Immobilien. Plans seem to be... Read more
BCG
Bilfinger division being teed up for re-sale by EQT
Barely two months after buying Bilfinger's real estate services division for €1.2bn, Swedish private equity group EQT looks as if it is already looking for a new buyer for part of the business. Read more
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Samsung the winner with €730m bid for Commerzbank HQ
Samsung SRA Asset Management, a consortium of financial divisions of South Korea's Samsung Group, was named last week as the preferred bidder to take over Germany's Commerzbank's headquarters in Frankfurt, the tallest office building in Europe. Read more
IVG
IVG Immobilien prepares €3.25bn office portfolio for sale
Germany's erstwhile largest listed property IVG Immobilien AG has embarked on the sale of its core property portfolio under the flag of its new corporate identity as Officefirst Immobilien. The portfolio comprises 97 office properties, valued at... Read more