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Phoenix From Ashes | Real Estate News

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We have just published the Q2 edition of our Real Estate News looking at Q1 2016 net capital inflows into German indirect property investment vehicles:

– Listed Real Estate: Slow
– Inst. Open-End Funds: Strong
– Public Open-End Funds: Phoenix

The complete newsletter can be downloaded …



In Q1 2016 Indirect Real Estate vehicles accounted for net capital inflows of €5.7bn increasing by 76% yoy. The inflow number comprises listed real estate (RE), institutional open-end funds (OEFs) & public open-end funds. This is a post crisis record start to the year. (Chart 1 & 2)

Unsurprisingly, Listed Real Estate inflows were soft again in Q1 2016, both qoq and yoy. Equity placements totaled only €0.3bn. This is due to a combination of challenging markets, major players consolidating after merger hustle and seasonal weakness at the beginning of the year. (Charts 3 & 2)

Net inflows into Public Open End Funds were extremely strong at €2.9bn in Q1 2016. This is more than twice the year ago number and is the best start to a year since 2010.

Their inflows exceeded combined inflows of institutional open end funds and listed real estate in the first quarter. (Charts 4 &  2)