German real estate services provider and fund manager IC Immobilien has announced it provided consultancy services for property transaction with an aggregate value of EUR 500 mln in 2007. Almost EUR 360 mln of the volume involved buyer-side consultancy, the focus of the company's advisory services for German and international investors. The largest deal was the acquisition of 32 savings banks by Fair Value REIT for EUR 280 mln.
German real estate services provider and fund manager IC Immobilien has announced it provided consultancy services for property transaction with an aggregate value of EUR 500 mln in 2007. Almost EUR 360 mln of the volume involved buyer-side consultancy, the focus of the company's advisory services for German and international investors. The largest deal was the acquisition of 32 savings banks by Fair Value REIT for EUR 280 mln.
IC also handled transactions worth more than EUR 242 mln in nominal capital on the secondary market for closed-end property funds. The share buyers were mainly institutional investors, but there were also some private investors.
Commenting on 2007, IC said the booming market meant that the possibility to acquire a larger number of properties 'on an adequate basis' did not exist until the fourth quarter. The company expects favourable buying conditions to continue through 2008 and bring substantial growth to its investment business. Referring to its leasing business, IC said that it had signed new leases for more than 100,000 m2 in German office and logistics floor space in 2007.
