STRONG START TO THE YEAR FOR THE INVESTMENT MARKET
The Munich investment market has made a strong start to the new year. With a transaction volume of nearly €1.15bn in the first quarter, the previous year's result, which was weak though, was exceeded by 86%. Moreover, the ten-year average was topped, too (+ 8%), therefore providing a better indication. Both individual deals and proportionately included portfolios contributed to this result. Package sales, which doubled in turnover, accounted for €257 million, which was also significantly influenced by share sales of the Signa Prime Selection portfolio. Individual sales reached a volume of almost €890 million, which corresponds to an increase of 82%. This good result is particularly noteworthy in view of the fact that only one deal in the three-digit million range has been realised to date. This is the selling of the Bertelsmann headquarters, which was sold to Allianz Real Estate for over €200 million in a sale-and-lease-back deal. As a result, no concrete effects of the Corona pandemic on the Munich market have yet been observed in the first quarter.
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