You want to receive our Investment Market monthly by email 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
1.60 2.93 2.83 3.10 6.04 3.02 4.26 3.09 2.69 2.06 2.37 2.28 2.40 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) 40 100% Single Asset Portfolio 7 35 80% 6 30 5 25 60% 4 3 20 15 40% 2 10 20% 1 5 0 08/13 10/13 12/13 02/14 04/14 06/14 08/14 0 2 0% 07/13 09/13 11/13 01/14 03/14 05/14 07/14
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%
Commercial investment market: Top 10 buyer and seller groups of past 12 months # Buyer Volume ( m) 1 Open-ended special fund Number of properties 7,012 248 # Seller Volume ( m) Number of properties 1 Developer 7,043 223 Top/ Bottom 5 Nationality Net investment volume ( m) T1 Germany 2,283 2 Private-equity fund 3,356 117 2 Open-ended special fund 3,676 148 T2 France 1,118 3 Insurance company / Pension fund 4 Listed property company 3,247 60 3,211 108 3 Closed-ended fund 2,826 139 4 Listed property company 2,703 158 T3 United Kingdom of Great Britain and Northern Ireland 1,112 T4 Sweden 440 5 Closed-ended fund 3,193 141 5 Other asset manager 2,492 197 T5 Singapore 349 6 Other asset manager 2,927 211 6 Private-equity fund 2,484 80 B5 United States of America -217 7 Corporate 2,836 386 7 Corporate 2,477 572 B4 Canada -320 8 Private investor / Family office 2,027 229 8 Private investor / Family office 2,257 157 B3 Switzerland -503 9 Developer 2,000 290 9 Bank 1,712 41 B2 Spain -742 10 Open-ended public fund 1,955 32 10 Open-ended public fund 1,438 51 B1 Austria -1,299 4
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. 257 70.000 Ivanhoe Cambridge Europe Deka Immobilien Investment GmbH August 2014 Dieselstraße 8 n/a Unterföhring Office 83.326 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 32.000 UBS AG Cityhold Property AB August 2014 Im Trutz Frankfurt 53 1990 Frankfurt am Main Office 30.600 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 20.000 Bayerische Versorgungskammer Cordea Savills GmbH August 2014 concorpark - Quartier Pinus 2011 Aschheim Office ca. 60 31.216 Münchner Grund Immobilien Bauträger AG I-REIT Global August 2014 Ems-Center 1980 Papenburg Retail 25.000 Whitehall Funds Procom Invest GmbH August 2014 Rosenberghöfe 2014 Stuttgart Office 11.400 Competo Capital Partners GmbH, W2 GmbH Competo Capital Partners GmbH * only published transactions are shown, measured by volume 5
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
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
Contact Marcus Lemli CEO Deutschland / Head of Investment Europe E: mlemli@savills.de T: +49 (0) 69 273 000 11 Andreas Wende Managing Director / COO Head of Investment Deutschland E: awende@savills.de T: +49 (0) 40 309 977 110 Draženko Grahovac Head of Valuation Europe / Managing Director Corporate Finance - Valuation E: dgrahovac@savills.de T: +49 (0) 30 726 165 140 Karsten Nemecek Managing Director Corporate Finance Valuation E: knemecek@savills.de T: +49 (0) 30 726 165 138 Matthias Pink Associate Director Research E: mpink@savills.de T: +49 (0) 30 726 165 134 Fabian Sperber Senior Consultant Research E: fsperber@savills.de T: +49 (0) 30 726 165 139 8
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 2014 9