DUE TO THE PORTA TAKEOVER: RETAIL INVESTMENTS AT THE TOP OF THE ASSET CLASS RANKING
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At the mid-year point, the retail investment market recorded a transaction volume of €2.86 billion, putting it in the lead among the top three property types by a slim margin ahead of logistics assets (€2.78 billion) and office properties (€2.67 billion). This was primarily made possible by XXXLutz's acquisition of the Porta Group, which has over 100 stores and generated volume in the high three-digit millions.
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Apart from this large volume driver, smaller deals currently dominate market activity. Excluding the Porta takeover from the results, around 57% is accounted for by transactions up to the €50 million mark. Investment momentum is certainly high but is not currently reflected in the volume due to the small-scale nature of the market (-21% compared to H1 2024). This is also evident in the number of registered transactions. More investments were recorded in the first half of the year than in the two prior-year periods. Additionally, many sales processes are still in the preparation or marketing phase, meaning that market sentiment is better than the results indicate.
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As expected, the Porta takeover is reflected in the volume distribution by property type. In this context, the specialty store segment generated an impressive 68% of transaction volume in the first half of the year. Major portfolio transactions in this segment include the sale of 22 local retail properties to the Habona Invest Group. Apart from the specialist stores, the Designer Outlet Berlin and some smaller shopping center investments helped shopping centers achieve a 16% share. Stores and department stores currently account for only 12% and 4%, respectively.