Retail property investment in Germany totalled nearly EUR 6 bn in the first six months of 2011, representing around 53% of commercial property transactions, according to a new research report by Colliers International.
Retail property investment in Germany totalled nearly EUR 6 bn in the first six months of 2011, representing around 53% of commercial property transactions, according to a new research report by Colliers International.
'The increase over the comparable figure for last year is over 62%, considerably more than that experienced by the overall investment market,' said Andreas Trumpp, head of Research at Colliers International in Germany.
Offices significantly lagged the retail sector, posting less than EUR 3 bn worth of deals in H1.
The retail sector was once again dominated by major deals, such as Cerberus' purchase of a portfolio of 40 Metro Cash & Carry stores and the sale of a 50% share in the CentrO complex, in Oberhausen, to the Canada Pension Plan Investment Board.
Among retail properties, shopping centres was at the centre of investors' attention, accounting for nearly EUR 3 bn, or 49% of retail deals in the first six months of the year.
Private equity and venture capital funds were most active in terms of transaction volume, accounting for a 29% share. Open-ended real estate and special funds took 27%, and pension funds 12%. Foreign investors accounted for about half of the transactions.
