International investors most active
2.6 bn euros
1.06 bn euros
204 m euros
Turnover in the commercial real estate investment market of the Ruhr Metropolis failed to reach the record level of the previous year, with an investment volume of approximately 2.6 billion euros. Decisive factor in this development was the decline in inter-regional portfolio transactions as well as the lack of large-volume retail deals, which drove up transaction volumes in the preceding year.
This places the Ruhr Metropolis clearly ahead of the A locations Cologne (1.97 billion euros) and Stuttgart (2.40 billion euros). In many A cities the shortage of suitable investment products in central locations continued to make itself felt. In addition, investors are increasingly shifting their focus to B and C locations, which display a more attractive risk/return profile. The most popular asset category of the past investment year was office real estate, accounting for around 1.27 billion euros, around 49.0 % of the total volume.
The largest office sales were the Stern Relling Haus service centre and the RWE headquarters in Essen for around 150 million euros each. However, the largest individual transaction came from the logistics segment. The Handelslogistik-Park Metro Group in Marl, cost around 190 million, it was purchased by Goodmann together with a Malaysian pension fund.
"An investment volume of 2.6 billion euros places the Ruhr Metropolis clearly ahead of the A locations Cologne (1.97 billion euros) and Stuttgart (2.40 billion euros)."
The share of foreign capital fell slightly compared to the previous year. This in turn is explained by the lack of large-volume portfolio transactions. International buyers invested a total of around 1.06 billion euros, a share of 41.2 % in the total volume.
Amongst German investors, as in the previous year miscellaneous investors occupied first place, with a share of around 833 million euros or 32.4 %. Amongst the miscellaneous purchasers project developers were most active, with 173 m euros, followed by private investors with 88 m euros and national asset/fund managers/private equity with around 75 million euros. Real estate companies also achieved a relevant share, with 9 % or some 226 m euros. These were followed by specialist funds, which were responsible for an investment volume of some 8 %, or 204 m euros.