GOOD FIRST HALF YEAR DESPITE CORONA CRISIS
With a transaction volume of a good €2.9 billion, Frankfurt achieved the second-best result in the last ten years in spite of the Corona crisis. This result puts the banking metropolis in second place in a nationwide comparison, only outperformed by the capital. It should be noted, however, that a disproportionately high portfolio share contributed significantly to this result. A total of almost €1.3 billion is attributable to portfolio sales, more than ever before. In particular, the TLG takeover by Aroundtown, and the sale of Godewind's shares to Covivio have had a major impact. In contrast, the turnover from individual sales is considerably lower and at €1.6 billion is around 28% below the previous year's result, missing the ten-year average by a good 13%. This is primarily due to the fact that some large-volume deals were suspended during the lockdown to await further developments. Many of these deals have now restarted and should be concluded in the second half of the year. Among the most important deals concluded in the first half of the year were the sales of Westend Carree and MaRo.
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