German fund manager Deka Immobilien has started its 50th anniversary already with a splash after carrying out €640 mln of tractions in the first three weeks of January.
German fund manager Deka Immobilien has started its 50th anniversary already with a splash after carrying out €640 mln of tractions in the first three weeks of January.
Acquisitions accounted for €480 mln of the transaction activity so far this year as Deka's three open-ended real estate funds saw net equity inflows of €380 mln.
'The start of our anniversary year is proceding very satisfactorily and is continuing seamlessly from the positive developments in 2015,' Matthias Danne, real estate and financial officer at DekaBank, said. Danne was speaking at a special dinner in Frankfurt on Tuesday to mark the 50 years since Deka Immobilien was founded.
Deka reported net unit sales of €1.8 bn in 2015 for its open-ended funds and €1.1 bn of inflows for its institutional business. Overall assets under management increased for the seventh consecutive year by €1 bn to €29.5 bn at end-December. Deka is one of the 15 largest real estate asset managers in the world, the company said.
Transaction volumes
Deka also dubbed 2015 an 'extraordinary year' for transactions as it completed investment and sales deals totalling €4.3 bn. Deka said it carried out €2.7 bn of acquisitions over the year. The three open-ended funds purchased 12 properties for a total of €1.6 bn, while its institutional funds carried out 58 deals totalling €1.1 bn. Disposals in 2015 came to €1.6 bn.
The overall result is a 26% increase on the €3.4 bn in 2014, which placed Deka in 16th position in PropertyEU's Top Investors ranking based on transaction volume published in March last year. PropertyEU's ranking based on 2015 deal volume is published at Mipim in March.
Deka's largest transactions in 2015 were the acquisition of the Julia portfolio of 51 inner-city retail properties in Germany for about €700 mln, and the sale of the 26-asset Stella office portfolio, also located in Germany, to Swiss Life for €370 mln.
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TOP INVESTORS
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PropertyEU is currently compiling its ranking of Top Investors based on transaction volume in 2015. The ranking is based on a survey questionnaire sent to investors and reports such as above by investors on real estate acquisitions and disposal volumes.
Haven’t received a survey request? Please send information on total investment and disposal volumes, plus a list with details of top deals, to Deals Editor Cormac Mac Ruairi at research@propertyeu.info
The ranking is published in March 2016.
