Acquisitions profile

Added value

€10 million and above

Germany: Top-7 cities, A, B and C cities

CBD and other established office locations

• Top tier office buildings
• Properties with redevelopment and/or refurbishment needs
• Project development option
• Land plots

• High rental potential
• Multi-party of single tenant
• WALT > 3 Jahre

• Individual investments under 10 million also possible
• Pre-existing properties and project planning (turn-key)
• High-quality real estate with sustainable and stable earnings situation
• Mixed use suitability (office, retail, residential)
• Asset and share deals possible

Pre-existing properties with short or mid-term potential for value appreciation (e.g., due to redevelopments, redensification, structural measures, short remaining terms, high vacancy rates, maintenance backlog, financial imbalance, inadequate property management, etc.)

Opportunistic, added value

€10 million and above

Germany: Top-7 cities, A, B and C cities

Very good population development and general retail location criteria and retail-relevant key figures.

• Modern high quality real estate
• Real estate possibly in need of renovation
• Revitalisation
• Restructurisation
• Optional project development

• Multi-party
• Chains with high credit standing
• Weighted average lease term > 3 years

• Inner-city commercial buildings, primarily retail
• Additional types of use (office/residential) up to 30%.
• Structural vacancy
• Asset and share deals possible

Pre-existing properties with short or mid-term potential for value appreciation (e.g., due to redevelopments, redensification, structural measures, short remaining terms, high vacancy rates, maintenance backlog, financial imbalance, inadequate property management, etc.)

Core, Core+, added value

€5 million and above

In general, preferably university cities

• Economically strong locations
• Established locations with solid infrastructure
• Subcentres

• Existing building
• Real estate with redevelopment and/or refurbishment needs
• Optional project development
• Land plots

Mid to high occupancy rate

• No operator-run properties
• No social flash points
• Asset and share deals possible
• Residuals from partial privatisation

Pre-existing properties with short or mid-term potential for value appreciation (e.g., due to redevelopment, redensification, structural measures, short remaining terms, high vacancy rates, maintenance backlog, financial imbalance, inadequate property management, etc.)

Core

€10 million and above

Germany: Top-7 cities, A, B and C cities

City centre and established hotels in sub-locations

• 2-4 star category / Business hotels
• Optional project development

• Leasing contracts
• No part-ownership / no leasehold

• High quality, modern hotel properties
• Asset and share deals possible

Pre-existing properties with short or mid-term potential for value appreciation (e.g., due to redevelopment, redensification, structural measures, short remaining terms, high vacancy rates, maintenance backlog, financial imbalance, inadequate property management, etc.)

Opportunistic, added value

€15 million and above (project volume)

Germany: Top-7 cities, A, B and C cities

• Economically strong locations
• Established locations with solid infrastructure
• Subcentres

• Developed / Undeveloped plots
• Pre-existing properties with development potential
• Land development

Short remaining contracts for existing properties

• Focus on residential / retail / office
• Suitability for mixed use (office, retail, hotel)
• Asset and share deals possible

Pre-existing properties with short or mid-term potential for value appreciation (e.g., due to redevelopment, redensification, structural measures, short remaining terms, high vacancy rates, maintenance backlog, financial imbalance, inadequate property management, etc.)