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| Savills announces research on German investment market Approximately 5.53bn of commercial property changed hands in Germany in Q1 2011 according to international real estate advisor Savills. Retail transactions accounted for 55% of the total transaction volume and 65% of total portfolio transactions, but the firm highlights that the two major deals in Q1 were both in the retail sector each with a transaction volume of 700m. These deals were Cerberus' purchase of 44 cash and carry properties and a logistics centre from Metro and the Canadian pension fund CPP Investment Board's acquisition of a 50% stake in CentrO Oberhausen. Apart from these two major deals Savills reports that a further eight transactions totalling over 100m were completed in Q1 2011. Amongst these transactions were the sale of the BrahmsQuartier office buildings in Hamburg and Friedrich Carrι in Berlin which contributed significantly to the 20% share (1.09bn) of the office sector in the total transaction volume. Industrial and warehouse properties accounted for 6% (0.34bn) and development sites and hotel investments each accounted for 5% (0.29bn) of the total transaction volume. In addition almost 460m (9%) were invested in mixed-use buildings and special-purpose properties. write your comments about the article :: © 2011 Construction News :: home page |