Investment Market monthly

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1 You want to receive our Investment Market monthly by every month? Just click on the button to the left. Investment Market monthly August 2014 Commercial investment market with continued high volume weaker activity on the residential portfolio market savills.de 1

2 bn bn Investment Market monthly August 2014 Commercial investment market - Overview Transaction activity August 2014: In total approx. 2.4bn was invested (Ø Aug 2013 Jul 2014: 3.0bn) Single asset transactions: 80 Deals (Ø: 132) with an investment volume of approx. 1.8bn (Ø: 2.0bn) Portfolio transactions: 7 Deals (Ø: 10) with an investment volume of approx. 0.6bn (Ø: 1.0bn) Largest single asset transaction: Deka purchased the complex Theresie in Munich from an affiliate of Ivanhoé Cambridge for 257m Largest portfolio transaction: I-REIT Global purchased a portfolio of 4 office properties from an Israeli investor for 224.5m 8 monthly transaction volume (left axis) rolling transaction volume of past 12 months (right axis) % Single Asset Portfolio % % % % /13 10/13 12/13 02/14 04/14 06/14 08/ % 07/13 09/13 11/13 01/14 03/14 05/14 07/14

3 Commercial investment market - Overview Transaction activity past 12 months: The rolling transaction volume of the past 12 months summed up to 37.1bn representing a plus of 2.2% compared to the figure of last month (Aug 2013 Jul 2014) Types of use: With a share of 42% Office dominated the transaction activity of the past 12 months followed by Retail (29%), Industrial / Logistics (9%), Hotel (7 %) and Development land (3%) Regional distribution: The highest transaction volume of the past 12 months was achieved in Munich (14%), followed by Berlin (9%) and Hamburg (9%) Figure of the month: 87 transactions took place in August the lowest number since March 2011 (78 transactions) nevertheless, large volume portfolio transactions led to a high transaction volume Development land 3% Other 10% Munich 14% Hotel 7% Office 42% Berlin 9% Industrial / Logistics 9% Other 51% Hamburg 9% Frankfurt 8% Retail 29% 3 Düsseldorf 6% Cologne 3%

4 Commercial investment market: Top 10 buyer and seller groups of past 12 months # Buyer Volume ( m) 1 Open-ended special fund Number of properties 7, # Seller Volume ( m) Number of properties 1 Developer 7, Top/ Bottom 5 Nationality Net investment volume ( m) T1 Germany 2,283 2 Private-equity fund 3, Open-ended special fund 3, T2 France 1,118 3 Insurance company / Pension fund 4 Listed property company 3, , Closed-ended fund 2, Listed property company 2, T3 United Kingdom of Great Britain and Northern Ireland 1,112 T4 Sweden Closed-ended fund 3, Other asset manager 2, T5 Singapore Other asset manager 2, Private-equity fund 2, B5 United States of America Corporate 2, Corporate 2, B4 Canada Private investor / Family office 2, Private investor / Family office 2, B3 Switzerland Developer 2, Bank 1, B2 Spain Open-ended public fund 1, Open-ended public fund 1, B1 Austria -1,299 4

5 Commercial investment market Top 10 single asset transactions* Date Property Year of Constr. Location Type of Property Volume ( m) Area (sq m) Seller Buyer August 2014 Theresie 2003 München Office ca Ivanhoe Cambridge Europe Deka Immobilien Investment GmbH August 2014 Dieselstraße 8 n/a Unterföhring Office Whitehall Funds Allianz Real Estate GmbH Germany August 2014 Lenbach Gärten - Office properties n/a München Office AM Alpha GmbH Norges Bank Investment Management (NBIM) August 2014 Atlantic Haus n/a Hamburg Office UBS AG Cityhold Property AB August 2014 Im Trutz Frankfurt Frankfurt am Main Office Tishman Speyer IVG Institutional Funds GmbH August 2014 Hilton Frankfurt 1999 Frankfurt am Main Hotel/gastronomy London & Regional Properties Limited unknown Investor August 2014 Friedrichs-Carré 2002 Stuttgart Office Bayerische Versorgungskammer Cordea Savills GmbH August 2014 concorpark - Quartier Pinus 2011 Aschheim Office ca Münchner Grund Immobilien Bauträger AG I-REIT Global August 2014 Ems-Center 1980 Papenburg Retail Whitehall Funds Procom Invest GmbH August 2014 Rosenberghöfe 2014 Stuttgart Office Competo Capital Partners GmbH, W2 GmbH Competo Capital Partners GmbH * only published transactions are shown, measured by volume 5

6 Commercial investment market Top 5 portfolio transactions* Date Location(s) Portfolio Name (Main) Type of Property Number of Properties Volume ( m) Seller Buyer August 2014 Bonn, Darmstadt, Münster Office 4 ca. 225 unknown Investor (Middle East / Arabian Peninsula) I-REIT Global August 2014 Berlin, Düsseldorf, Frankfurt, Hamburg, München Office 7 ca. 221 Dream Global REIT POBA August 2014 Berlin, Frankfurt Hotel/gastronomy 3 Toga Group Far East Organization, Toga Group August 2014 Bingen, Ennigerloh, Kassel Warehouses/Logistic property 3 ca. 62 Raiffeisen Investment AG CBRE Investors August 2014 Frankfurt, Pulheim, Ratingen, Stelle Warehouses/Logistic property 5 ca. 45 Unknown Fund M7 Real Estate, Starwood Capital Europe Ltd. * only published transactions are shown, measured by volume 6

7 Investment market residential portfolios - Overview Transaction activity August 2014: - 14 residential portfolio transactions (Ø Aug 2013 Jul 2014: 17) - Investment volume of approx. 0.1bn (Ø Aug 2013 Jul 2014: 1.3bn) - Approx. 1,400 transacted residential units (Ø Aug 2013 Jul 2014: 23,700) Transaction activity past 12 months: The rolling transaction volume of the past 12 months summed up to 14.2bn representing a loss of 9.0% compared to the figure of last month (Aug 2013 Jul 2014) Largest transaction: Industria purchased a development of 7 properties comprising 152 units in Fellbach from Weisenburger. The total investment volume was 36m. Date Portfolioname Location(s) Number of units Volume ( m) August 2014 Fellbach 152 Weisenburger Industria GmbH Seller Buyer August 2014 Berlin 440 ca. 27 Treucon Unternehmensgruppe Akelius GmbH August 2014 Regensburg 42 Immobilien Zentrum Regensburg (IZR) Aachener Grundvermögen Kapitalanlagegesellschaft mbh August 2014 Mainz, Wiesbaden 125 unknown Investor Deutsche Invest Immobilien (d.i.i.) August 2014 Hamburg 90 ca. 8 unknown Other Asset Manager (Germany) unknown Private Investor / Family Office (Germany) * only published transactions are shown, measured by volume 7

8 Contact Marcus Lemli CEO Deutschland / Head of Investment Europe E: mlemli@savills.de T: +49 (0) Andreas Wende Managing Director / COO Head of Investment Deutschland E: awende@savills.de T: +49 (0) Draženko Grahovac Head of Valuation Europe / Managing Director Corporate Finance - Valuation E: dgrahovac@savills.de T: +49 (0) Karsten Nemecek Managing Director Corporate Finance Valuation E: knemecek@savills.de T: +49 (0) Matthias Pink Associate Director Research E: mpink@savills.de T: +49 (0) Fabian Sperber Senior Consultant Research E: fsperber@savills.de T: +49 (0)

9 Imprint About Savills Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. It is a company that leads rather than follows and now has over 600 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East with more than 27,000 employees worldwide. Savills is present in Germany with around 160 employees with six offices in the most important estate sites Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne and Munich. Disclaimer This bulletin is for general informative purposes only. Whilst every effort has been made to ensure its accuracy, Savills accepts no liability whatsoever for any direct or consequential loss arising from its use. The bulletin is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from Savills Research. Savills September