For Torsten Knapmeyer, managing director of fund management and product development at Deka Immobilien and its sister investment company WestInvest, the year has got off to a good start. With a EUR 250 mln acquisition already under its belt, Deka Immobilien is fast cementing its reputation as one of the most prolific real estate investors in Germany. And at a time when the German open-ended fund industry is undergoing a shake-out amid new regulation, Deka is steaming ahead, unafraid to tap markets that other investors fear to tread.
For Torsten Knapmeyer, managing director of fund management and product development at Deka Immobilien and its sister investment company WestInvest, the year has got off to a good start. With a EUR 250 mln acquisition already under its belt, Deka Immobilien is fast cementing its reputation as one of the most prolific real estate investors in Germany. And at a time when the German open-ended fund industry is undergoing a shake-out amid new regulation, Deka is steaming ahead, unafraid to tap markets that other investors fear to tread.
This year, Knapmeyer is hoping to do more deals than last year: ‘We plan to buy more buildings costing between EUR 20 mln and EUR 50 mln for our institutional products,’ he told PropertyEU. ‘We’re extremely positive about the German market. It’s our home market and a big percentage of our assets – about 40% – is in Germany. It’s very stable, there’s no sign of a bubble, so we’re not worried about core assets.’ However, he concedes that activity in ‘B’ cities, is ‘a bit slower’.
Last year, Deka Immobilien acquired EUR 2.4 bn in real estate assets globally. Of this, around EUR 790 mln was invested in Germany, EUR 575 mln in France and EUR 114 mln in the UK. This year, Knapmeyer expects the total investment volume to be slightly lower, despite a greater number of (smaller) deals.
The full profile appears in the March edition of PropertyEU Magazine. Click on the link below to subscribe.
