Purchase Criteria Residential and Commercial Real Estate
Residential Real Estate
Portfolio Management
| Investment volume |
≥ 10 million Euros, single objects and portfolios |
|
| Focus |
Asset and share deals |
|
| Macro-locations |
Cities ≥ 30,000 inhabitants |
|
| Use |
Residential properties; Commercial proportion ≤ 10 % on an income basis |
|
| Micro-locations |
Traditional residential neighborhoods, ideally with privatization potential |
|
| Occupancy rate |
≥ 80% |
|
| Structure of tenants |
Varies by property |
|
|
Return/ |
max. 12.5 of actual rent | |
| Deferred maintenance | Little deferred maintenance |
Commercial Real Estate
New Joint Ventures
|
Investment volume |
≥ 10 million Euros |
|
| Focus |
Asset and share deals |
|
| Macro-locations |
Cities ≥ 100 thousand inhabitants |
|
| Use |
Office, office and retail, retail and residential |
|
| Micro-locations |
A- and B-locations |
|
| Occupancy rate |
≥ 80% |
|
| Tenant structure |
Varies by property |
|
| Return/ purchase price factor |
12.5 - 17.5 of actual rent |
|
| Capex |
max. 15% of purchase price
|
Light Industrial/ Logicstics
|
Investment volume |
≥ 20 million Euros |
|
| Focus |
Asset and share deals |
|
| Macro-locations |
Cities ≥ 100 thousand inhabitants |
|
| Use |
Logistic, warehouse, light industrial |
|
| Micro-locations |
A- and B-locations |
|
| Occupancy rate |
≥ 60% |
|
| Tenant structure |
main tenant ≥ 30% of actual rent |
|
| Return/ purchase price factor |
7.0 - 12.5 of actual rent |
|
| Capex |
max. 20% of purchase price |
