MSREF intends to at least double its EUR 4 bn property portfolio in Germany in 2007, Morgan Stanley's executive director Boris Schran told German financial newspaper Boersen Zeitung. Schran said the main driver behind expansion in this country was the attractive yield compared to other locations like London.
MSREF intends to at least double its EUR 4 bn property portfolio in Germany in 2007, Morgan Stanley's executive director Boris Schran told German financial newspaper Boersen Zeitung. Schran said the main driver behind expansion in this country was the attractive yield compared to other locations like London.
In 2006, MSREF invested EUR 4 bn in direct property in Germany, and is keen to invest much more next year, the newspaper said. Including participations in property companies such as Deutsche Immobilien Chancen, DIC Asset, Sireo RE and DGAG, where MSREF invested some EUR 275 mln in a joint venture with Pirelli RE, total property investments in Germany amount to EUR 8 bn.
