Real IS, the real estate fund manager of German banking group BayernLB, carried out €1.3 bn of acquisition and sales transactions across seven countries in Europe during 2017.
The fund manager completed €950 mln of acqusitions in Germany, Ireland, France, Luxembourg, Austria, Spain and the Netherlands. On of the largest deals was the acquisition of the Leuchtenbergring in Munich. The building was acquired for Themenfonds Deutschland II which was successfully launched in 2017.
Sales accounted for the remaining €350 mln of the volume.
The 2017 transaction activity was almost equal to the 2016 volume of €1.4 bn. The 2016 performance placed Real IS in 59th place in PropertyEU's Top Investors, Deals and Dealmaker ranking that was published in March 2017.
The next Top Investors rankiung based on 2017 European real estat investment volumes is published in May 2018. For more information, email surveys@propertyeu.info
Real IS portfolio
The letting rate across Real IS's entire real estate portfolio worth €6.8 bn was raised to around 97.5%. At the end of the financial year, 126 properties were under management. The rental performance of the asset management comprises an area of around 155,000 m2 in total. One of the highlights was the rental agreement negotiations for the 18,500 m2 Toren op Zuid property in Rotterdam. The telecommunications company KPN renewed its contract by 20 years due to extensive modernisation, including an extension.
'In the financial year 2017, we demonstrated our excellent market access in the euro region, as well as delivering renewed proof of our special expertise in the area of asset management. One advantage of Real IS is that it has its own employees on location. With the opening of branches in Amsterdam and Madrid, we are currently present for our investors in five European countries,' said Real IS CEO Georg Jewgrafow.
Real IS also received €744 mln of capital into its institutional business during 2017. Capital commitments for six different vehicles, ranging from broadly diversified portfolio funds, specialised individual mandates and on to club deals, came from the German savings banks, banks, superannuation schemes, foundations, pension funds and insurance companies.
In the private customer business, the capital still available of €7.2 mln (including premiums) of Real IS. Grundvermögen was placed. The fund was closed with an investment volume of around €128 mln.
