Germany's open-ended property investment funds (GOEFs) sold 105 assets in the 12 months to end-June, more than double the 48 disposals recorded in the year-earlier period, according to new figures from fund industry body BVI. A significant portion of the disposals were in Germany, where 65 properties were sold for a total EUR 1.4 bn. Outside Germany, the funds shed assets worth EUR 1.8 bn.
Germany's open-ended property investment funds (GOEFs) sold 105 assets in the 12 months to end-June, more than double the 48 disposals recorded in the year-earlier period, according to new figures from fund industry body BVI. A significant portion of the disposals were in Germany, where 65 properties were sold for a total EUR 1.4 bn. Outside Germany, the funds shed assets worth EUR 1.8 bn.
On the acqusitions side, the funds bought 70 assets in total, down from 129 in the 2008-2009 period. Of this figure, 43 were acquired abroad for a total amount of EUR 3.1 bn, against 27 in Germany for EUR 1.5 bn.
Outside Germany, where 28.4% of GOEF investments are located, the bulk of the assets are in Europe (58.5%), leaving 13.1% outside Europe. The German share has fallen over the years from 61% in 2001 to 42.4% in 2005. Outside Germany, most of the foreign assets held by GOEFs are located in France (18.5%), followed by the UK (10.2%) the Netherlands ((6.4%) and Italy (4.8%).
