OFFICE INVESTMENTS WITH RECORD RESULT
The German office investment market started the new year strongly. In the first three months of the year, about €9.8 billion was invested in this asset class, achieving a new record result. The relatively weak result of the previous year, which was still influenced by the Corona pandemic and its far-reaching lockdown measures, was exceeded by far (+180%) and it is almost twice as high as the 10-year average (just under €5 billion). In particular, the above-average performance of the portfolio segment is responsible for this result, especially the acquisition of alstria by Brookfield with a total volume of about €4.5 billion. However, even apart from this major transaction, there has been more movement in this segment compared with the previous year, which is underlined, for instance, by the Alphabet portfolio (around €500 million). In total, around €5.5 billion has been invested in office portfolios. At the same time, the investment activity in single investments has surged and, at almost €4.3 billion, is once again above the level of the first quarter of 2020 as well as one third above the long-term average.