Asian investors who have been prolific investors in the UK are now turning their attention to Germany, according to Andy Rofe, managing director of Europe at Invesco Real Estate.
Asian investors who have been prolific investors in the UK are now turning their attention to Germany, according to Andy Rofe, managing director of Europe at Invesco Real Estate.
‘A lot of Asian clients who have already invested in the UK have now given us mandates for Germany and for Paris. Germany is an attractive market and German financing is competitive for core real estate,’ he said during Expo Real.
As a result, Invesco Real Estate has increased its German assets by 23% over the past five years, Rofe said, with a strong focus on Munich.
However, the landscape is changing, he added: ‘We are increasingly seeing pension funds and insurers enter the lending space but they are not as flexible as some of the banks.’ Nonetheless, for investors willing to take a ‘specific risk’ to create core product, the financing community in Germany has been ‘very supportive’, Rofe said.
