RESULT DOES NOT YET REFLECT MARKET ACTIVITY
At mid-year, no substantial turnaround could be observed so far in the retail investment market compared to the first quarter: With a total transaction volume of just under € 2.6 billion, retail investments continue to lag behind both the previous year's result (-36 %) and the long-term average (-49 %). Nevertheless, retail properties are once again performing well compared to other asset classes and rank only slightly behind office investments (€3.2 billion) and even ahead of logistics transactions (€1.5 billion). In a comparison between the different asset classes, it is particularly remarkable that retail assets are currently the only ones with significant market activity in the portfolio segment. Although portfolio sales did not generate a high volume at around € 814 million by mid-year, investments in shopping centres and Galeria properties as well as smaller food retail portfolios consistently contribute to market activities. This segment should play an important role in the second half of the year by driving investment activities in the retail sector. Due to financial conditions, single deals (€ 1.8 billion) have so far fallen short of large-volume transactions in particular.