In the German investment market, real estate valued at €1.2bn was transferred in July 2009. Helge Scheunemann, director of research at Jones Lang LaSalle (JLL) in Germany, declared, “In just one month, 63% of the entire transaction volume of the preceding three months has thus already been reached.” He attributed this mainly to transactions in the retail sector with shopping centers, retail parks and retail buildings in city centers, especially the sale in Berlin of the shopping center called “Die Mitte” to Commerz Real for €126.6mn. Andreas Quint, JLL’s CEO for Germany, called predicted sales of €3bn for the third quarter realistic. “After all, several transactions with large volumes are in the pipeline,” he elaborated. According to JLL, as previously reported, the transaction volume on the German investment market reached €3.7bn during the first six months of 2009, €1.9bn of it during the second quarter.
These deals show that there is big trust in the stability of the German Economy and the investment environment especially in the Real Estate Market.
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