From January to March 2010 were created nationwide around 5.05 billion euros in commercial real estate - almost three times as much as a year earlier. This is the best quarterly result of the last two years. This follows the analysis of BNP Paribas Real Estate (BNPPRE, formerly Atisreal), Europe's leading consultants for commercial property.
"Although the end of last year became clear a significant recovery of the investment market, but this start to the year exceeded expectations," said Piotr Bienkowski, managing director of BNP Paribas Real Estate Germany. "It is worth noting in particular that the results without considering the sale of a shopping center portfolio by Multi Development for over 1.1 billion more than respectable fails. It is also gratifying that the positive development is supported by a broad investor base. Deals in the single example does not reach a group of investors a higher percentage than 16 percent of the volume of transactions, "said Bienkowski.
Of the total 5.05 billion euros, which have so far been invested in commercial properties, accounts for 3.54 billion euros (70%) to single Deals and 1.51 billion on sales of portfolio (30%), the shopping center here the barons lion's share accounts. Retail properties, with a share of 57 percent at the top, as in addition to the portfolio deal, other large shopping centers were sold. In office buildings account for almost 26 percent of sales. All other object classes in the first quarter of 2010, played only a subordinate role.
"Even at the six most important German investment locations (Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne and Munich), the markets give the gas again," said Bienkowski. "Here were invested around 2.86 billion euros, up almost 2.2 billion euros more than in the first quarter of 2009. Of these, all cities, albeit to different degrees, will benefit. "With some distance in the first place in Berlin, with around 1.07 billion euros (up 612%), followed by Munich with 614 million euros (up 172%). Also in Hamburg with 480 million euros (285%) and especially in Cologne with 447 million euros (844%) a high turnover was registered. In Frankfurt (€ 158 million) and Dusseldorf (€ 90 million) of start to the year fell on the other hand, in spite of increase over the same quarter last year, yet restrained.
After the yields were down slightly at some sites in the last quarter of 2009, they have now given way to other cities such as Berlin, Dusseldorf and Cologne also something. Currently there are prime yields in Munich and Hamburg at 5.1 percent, in Frankfurt at 5.2 percent, and in Berlin, Dusseldorf and Cologne at 5.3 percent. Against the background of continued strong demand, there is evidence that the returns for top properties in the course of the year will continue to decline moderately. "The markets have returned to normal and healthy again to close the transactions prior to the boom years. Since there are more large deals in the same preparation and a lot of capital for investment - particularly from foreign investors is ready again - is the transaction volume for the full year very clearly grow compared to 2009. We therefore consider that at the beginning of our guidance given set of at least 15 billion euros investment sales, "concludes Bienkowski.
"Although the end of last year became clear a significant recovery of the investment market, but this start to the year exceeded expectations," said Piotr Bienkowski, managing director of BNP Paribas Real Estate Germany. "It is worth noting in particular that the results without considering the sale of a shopping center portfolio by Multi Development for over 1.1 billion more than respectable fails. It is also gratifying that the positive development is supported by a broad investor base. Deals in the single example does not reach a group of investors a higher percentage than 16 percent of the volume of transactions, "said Bienkowski.
Of the total 5.05 billion euros, which have so far been invested in commercial properties, accounts for 3.54 billion euros (70%) to single Deals and 1.51 billion on sales of portfolio (30%), the shopping center here the barons lion's share accounts. Retail properties, with a share of 57 percent at the top, as in addition to the portfolio deal, other large shopping centers were sold. In office buildings account for almost 26 percent of sales. All other object classes in the first quarter of 2010, played only a subordinate role.
"Even at the six most important German investment locations (Berlin, Dusseldorf, Frankfurt, Hamburg, Cologne and Munich), the markets give the gas again," said Bienkowski. "Here were invested around 2.86 billion euros, up almost 2.2 billion euros more than in the first quarter of 2009. Of these, all cities, albeit to different degrees, will benefit. "With some distance in the first place in Berlin, with around 1.07 billion euros (up 612%), followed by Munich with 614 million euros (up 172%). Also in Hamburg with 480 million euros (285%) and especially in Cologne with 447 million euros (844%) a high turnover was registered. In Frankfurt (€ 158 million) and Dusseldorf (€ 90 million) of start to the year fell on the other hand, in spite of increase over the same quarter last year, yet restrained.
After the yields were down slightly at some sites in the last quarter of 2009, they have now given way to other cities such as Berlin, Dusseldorf and Cologne also something. Currently there are prime yields in Munich and Hamburg at 5.1 percent, in Frankfurt at 5.2 percent, and in Berlin, Dusseldorf and Cologne at 5.3 percent. Against the background of continued strong demand, there is evidence that the returns for top properties in the course of the year will continue to decline moderately. "The markets have returned to normal and healthy again to close the transactions prior to the boom years. Since there are more large deals in the same preparation and a lot of capital for investment - particularly from foreign investors is ready again - is the transaction volume for the full year very clearly grow compared to 2009. We therefore consider that at the beginning of our guidance given set of at least 15 billion euros investment sales, "concludes Bienkowski.
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