Post on 31-Oct-2019
Capital Markets GermanyAccelerating success.
42 PROFESSIONALS
6 LOCAL OFFICES
FULLY INTEGRATED IN GLOBAL CAPITAL MARKETS TEAM
ASIAN DESK SPECIALISED IN ADVISING ASIAN INVESTORS ON GERMAN INVESTMENTS
4 SECTOR- SPECIFIC TEAMS
CENTRAL PORTFOLIO TEAMS
2 | CAPITAL MARKETS GERMANY
Key Fact German Capital Markets
Colliers Puts Things In Motion
Dear Colliers client,
You’re in motion, we’re in motion, the world around us is in motion. Today more than ever before standing still means moving back-wards. But we want to move ahead. To keep growing, just like you.
Today I am pleased to tell you more about our investment services and the people who provide them at our local offices. This bro- chure will provide you with a brief summary of what we do every day as well as some inspiration for how we can better and more effectively advise you.
Even though anonymous processes have made their way into many areas, our business is still a personal one. And that is what really counts. Our relationship with you. It takes trust for a relationship to grow – and that trust is often the basis for the most successful deals.
Everyone on the Colliers investment team brings a lot of experience to the table and we are proud to be able to support you. Whether your project is large or small, we look forward to working with you. And to the future. Give us a try. We’ll be happy to assist you.
Sincerely, IGNAZ TROMBELLO, MRICS Head of Investment Germany and the investment team at Colliers International Germany
CAPITAL MARKETS GERMANY | 3
Ignaz Trombello
Béla Tarcsay, Frank Leukhardt, Ignaz Trombello, Jan Weseloh, Robert Menke, Ulf Buhlemann
O�ce
Retail
Logistics
O�ce
Retail
Logistics
O�ce
Retail
Logistics
O�ce
Retail
Logistics
O�ce
Retail
Logistics
O�ce
Retail
Logistics
O�ce
Logistics
Retail
Head of Capital Markets Germany
Capital Markets Management Team Germany
Head of O�ce Investment
GermanyIgnaz Trombello
Head of Retail Investment
GermanyThomas Dänzel
Head of Logistics Investment
GermanyHubert Reck
Regional National
Asian Desk Hui Liu
Investment & Advisory Germany
Ulf Buhlemann
Head of Portfolio Investment Stuttgart
Frank Leukhardt
Head of Investment
Munich Béla Tarcsay
Head of Head of Investment Hamburg
Frank Albers
Investment Frankfurt
Robert Menke
Head of Investment Düsseldorf Herwig Lieb
Head of Investment
Berlin Ulf Buhlemann
Head of
Germany’s Investment Market – Structure
Our capital markets leadership team manages our investment activities throughout Germany and involves all local and sector-specific investment teams based on the needs and requirements of our clients and of each transaction.
Management Team
4 | CAPITAL MARKETS GERMANY
Capital Market Performance
Transaction volume
All asset classes: office, retail, industry & logistics, hotel, residential
2,07
1
2,45
1
2,97
8
117 126
109
0
20
40
60
80
100
120
140
0
500
1,000
1,500
2,000
2,500
3,000
3,500
deals € million
2012 2013 2014
transaction volume number of deals
COLLIERS INTERNATIONAL represents dynamic and distinguished companies, from Fortune 500 brands with offices worldwide, to local, family-owned businesses. We aim to exceed our clients’ expectations when it comes to service and results – creating a truly memorable experience.
AccumulataAEWAllianzalstria office REITArt InvestAXA Investment ManagersBauwertBayerische HausbauBayerische VersicherungBayerische VersorgungskammerBlackstoneCA ImmoCommerz Real
CornerstoneCredit Suisse Asset ManagementDeka ImmobilienDevelopment PartnerDFH Deutsche Fonds HoldingFREOGAC Global Asset CapitalGeneraliGothaerHahnHannover LeasingHIH Hamburgische Immobilien Handlung
Hines ImmobilienIndigoInvestaIVGLaSalle Investment ManagementPatriziaPhoenix Real EstatePolis ImmobilienPramericaProvinzialQuantumReal I.S.Redevco
RREEFSchrodersSEB Asset ManagementStrabag Real EstateThe Carlyle GroupTishman SpeyerTristanUnion InvestmentWürttembergische LebensversicherungZurich
Our Clients
Frank Leukhardt Ignaz Trombello Ulf Buhlemann Robert Menke Béla TarcsayJan Weseloh Thorben Maida
CAPITAL MARKETS GERMANY | 5
Our sector-specific investment team leaders
Ignaz Trombello, MRICS Head of Office Investment Germany Direct: +49 211 86206213
ignaz.trombello@colliers.com
Thomas Dänzel Head of Retail Investment Germany Direct: +49 89 62429427
thomas.daenzel@colliers.com
Hubert Reck Head of Logistics Investment Germany Direct: +49 711 2273316
hubert.reck@colliers.com
Our Asian Desk
Hui Liu Senior Director Investment / Asian Desk Direct: +49 89 62429483
hui.liu@colliers.com
Our local investment teams have long-term relationships to all relevant local real estate market players and investors. Our clients benefit from our extensive, detailed market knowledge, which is supported by our local leasing teams and our research staff.
We provide: › Single asset transactions
› Sell-side advice
› Buy-side advice
› Development advice
› Sale & leaseback transactions
› Transaction management & documentation
› Data room support
Our local investment team leaders
BERLIN
Ulf Buhlemann, FRICS Head of Investment Berlin Direct: +49 30 20299349 ulf.buhlemann@colliers.com Number of professionals: 5
DÜSSELDORF
Herwig Lieb Head of Investment Düsseldorf Direct: +49 211 86206233 herwig.lieb@colliers.com Number of professionals: 6
FRANKFURT
Robert Menke Head of Investment Frankfurt Direct: +49 69 71919267 robert.menke@colliers.com Number of professionals: 6
HAMBURG
Frank-D. Albers, MRICS Head of Investment Hamburg Direct: +49 40 328701101 frank-d.albers@colliers.com Number of professionals: 3
MUNICH
Béla Tarcsay Head of Investment Munich Direct: +49 89 62429423 bela.tarcsay@colliers.com Number of professionals: 16
STUTTGART
Frank Leukhardt Head of Investment Stuttgart Direct: +49 711 2273325 frank.leukhardt@colliers.com Number of professionals: 7
Our Local Investment Teams
6 | CAPITAL MARKETS GERMANY
Our Sector-Specific Investment Team Leaders
Asian Desk
Our sector-specific investment teams providing in-depth market knowledge, combining very asset class-specific experience with local expertise. We create custom project teams for every portfolio transaction who then work together with our central portfolio investment team.
We enable Germany-wide access to up-to-date investor profiles, conduct analyses of recent transactions and provide the contact details of relevant decision-makers in respective sectors for every single asset transaction in all local markets and for every portfolio transaction.
Our Asian Desk helps Asian property investors enter the German market and provides assistance in overcoming cultural barriers and unfamiliar business practices in addition to providing traditional investment advisory services. Working closely with our offices in Asia, we maintain a trusting business relationship with sovereign funds, insurance companies, pension funds, family offices, developers and REITS. Establishing trust and guarantee- ing transaction security are essential to our business.
CAPITAL MARKETS GERMANY | 7
Our Central Portfolio Investment Team
Our central portfolio investment team analyses multi-regional asset portfolios featuring different types of usage in a short amount of time and prepares these for the sales process or advises regarding their purchase. We use our online, database-supported portfolio process system (PPS) in combination with our local and sector-specific teams to efficiently compile a variety of current location and property- specific data. We prepare portfolio cash flow projections, investment calculations and sensitivity analyses to make complex asset portfolios transparent and accessible to buyers and financing institutions.
This allows us to provide our clients with a combination of highly detailed local market data, specific expertise, extensive knowledge of current investor requirements, a state-of-the-art portfolio analysis and centralized management of the portfolio transaction. We help our clients set up data rooms, plan and coordinate the due diligence process and provide tamper-proof documentation of transaction processes.
Our central portfolio investment leader
Ulf Buhlemann, FRICS Head of Portfolio Investment & Advisory Germany Direct: +49 30 20299349 ulf.buhlemann@colliers.com
Client / Transaction
Sector- speci�c
investment team
Local investment
team
Local investment
team
Central portfolio team
CENTRAL PORTFOLIO TEAM PORTFOLIO SEGMENTATION
18.7 m
6.5 m 7.0 m
13.5 m
3.5 m
4.7 m
12.8 m
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
0,00 2,00 4,00 6,00 8,00 10,00 12,00
Curr
ent r
enta
l inc
ome
tota
l
Weighted average lease term (WALT) in years
Gross capital value / Gross purchase price total in € million
Asset 1 Asset 2 Asset 3 Asset 4 Asset 5 Asset 6 Asset 7
8 | CAPITAL MARKETS GERMANY
Portfolio Transactions Track Record
Industrial / LogisticsO�ceRetail
MUNICH
STUTTGART
DRESDENERFURT
SCHWERIN
POTSDAMBERLIN
WIESBADENFRANKFURT/MAIN
SAARBRÜCKEN
MAINZ
HAMBURG
KIEL
HANOVER
BREMEN
DÜSSELDORF
Our proven approach to investment sales and acquisitions takes into account each investor’s unique priorities and weighted concerns for price, closure and risk. We work with the full spectrum of investors from sovereign wealth funds and high net worth individuals to institutional and private equity funds.
CAPITAL MARKETS GERMANY | 9
CASH FLOW PROJECTION
LEASING COMPARABLES
SENSITIVITY ANALYSIS OF EQUITY IRR
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Net operating income
Other cash �ow
Reletting and capital costs
Non rec’s
Stabilised rental income (Exit)
Reduction for non rec’s
Reduction for stabilised vacancy
Potential rental level
Market rental level
Gross rental income
-30.00% -20.00% -10.00% 0.00% 10.00% 20.00% 30.00%
Rent multipleMarket rental income
Reletting lease period (market)Rent multiple
Debt ratioTotal debt costs (Interest rate and margin)
Equity ratioMargin / Admin feeInterest rate basis
Initial renewal probabilityMaintenance costs
In�ation rateMarket renewal probabilityIncentives and agents fees
Market rental growthInitial voids (vacancy or 1st reletting)
Management costsInitial tenant improvements (�rst reletting)
Bad debtContinuing tenant improvements (2nd reletting)
Other costsVacancy costs
Structural vacancy (reletting)
Internal rate of return (IRR) gross equity
Variance -5% Variance 5% Variance -10% Variance 10%
Buy-Side Advisory Services
We assist our customers in single asset and asset portfolio purchases and work in transaction-specific, interdisciplinary teams with access to local market expertise and use-specific experience to provide the following services:
› Compiling underwriting reports including market and location
analysis, leasing comparables, investment comparables, occupier
target groups
› Providing input data for business plan assumptions like ERVs,
re-leasing periods and costs, rent abatement, tenant improvements,
leasing agent fees, marketing budgets, fit-out specifications
› Analysing non-recoverable costs, NOI forecasts
› Cash flow modeling and investment calculations including
sensitivity analysis
› Co-ordinating due diligence processes
› Tactical advice for issuing bids in structured sales processes
10 | CAPITAL MARKETS GERMANY
RoteInsel
Franziskus-Krankenhaus
Vivantes KlinikumAm Urban
Wartenburgstraße
ElisabethKlinik
St.Joseph-Krankenhaus
SanktGertrauden-Krankenhaus
VolksparkHasenheide
TiergartenTechnischeUniversität
Berlin
BerlinZoologischerGarten
BerlinYorckstraße
BerlinSüdkreuz
BerlinSavignyplatz
BerlinInnsbrucker
Platz
BerlinHeidelberger
Platz BerlinBundesplatz
BerlinAnhalterBahnhof
Wilmersdorf
ÐÐ96
ÐÐ1
Budapest er Straße
Tauentzienstraße
Lietzenburger StraßeB ü l o w s t r a ß e
Y o r c k s t r a ß e
H o h e n z o l l e r n d a m m
Ha r d e n b e r g s t r a ß e
K u r f ü r s t e n s t r a ß eK u r f ü r s t e n d a m m
Stül
erst
raße
Kochstraße
Haup t st r
a ße
L ü t z o w u fe r
Sachsendamm
K l e i s t s t r a ß e
Wi l h
el m
st r a
ße
G n e i s e n a u s t r a ß e
Ma
rtin
-Lu
the
r-S
tra
ße
Bu
nd
es
al le
e
Te
mp
el h
of e
r D
am
m
Hallesches
Ufer
Me
hr
ing
da
mm
ÐÐ100ÐÐ103
46
4
20
21
2930
39
43
25
36
49
1
42
12
28
33
3841
824
2240
9
10
1316
23
34
35
4448
27
18
26
37
32
15
47
11
2
31
714
19
45
53 17
6
© 2015 Colliers International, TomTom, Nexiga0 375 750187,5
Meter
±Property
Space
up to 500 sqm
501-1,000 sqm
1,001-2,000 sqm
2,001-5,000 sqm
more than 5,000 sqm
Rent
up to €8.00/m²
€8.01-€10.00/m²
€10.01-€12.50/m²
€12.51-€15.00/m²
more than €15.00/m²
CAPITAL MARKETS GERMANY | 11
We offer our clients an integrated service approach and can provide complementary services to increase an asset or portfolio’s income stream and overall value, including:
Our professionals also offer in-depth exper-tise in the following property sectors:
› Lease advisory services• Landlord representation• Tenant representation
› Construction management › Capital markets and investment services › Commercial lease advisory services › Corporate solutions › Planning › Project management › Property management services › Valuation and advisory services
› Healthcare › Hotels › Industrial and logistics › Mixed-use › Office › Residential › Retail
12 | CAPITAL MARKETS GERMANY
Expert Advice – Global Perspective
Our experts have a broad range of real estate expertise and approach each market and client with a global perspective.
Supported by our global platform, we openly exchange our knowledge and expertise, sharing information about local and foreign investors, sources of debt and underwriting criteria, new listings, off-market opportuni-ties and market trends.
CAPITAL MARKETS GERMANY | 13
Updated March 2015
Global Capital Markets Team
GERMANY Ignaz Trombello
LONDON Tony Horrell
LONDON Andre James
DUBAI John Davis
MELBOURNE John Marasco
SHANGHAI Lina Wong
HONG KONG Antonio Wu
JAPAN Brett Jensen
EMEA Richard Divall
ASIA PACIFIC Terence Tang
CHICAGO Peter Block
NEW YORK James Murphy
TORONTO Adam Kosoy
LOS ANGELES Rick Putnam
THE AMERICAS Brain Ward
Our real estate capital markets team collaborates intensively to match capital with assets. Through regular communication with more than 450 investment specialists across 67 countries, we are able to identify off-market opportunities throughout the region.
14 | CAPITAL MARKETS GERMANY
450 PROFESSIONALS
67 COUNTRIES
75 € BNTRANSACTION VOLUME
Key Facts: Global Capital Markets
CAPITAL MARKETS GERMANY | 15
Contacts
Robert Menke Head of Investment Frankfurt Direct: +49 69 71919267 robert.menke@colliers.com
Frank-D. Albers, MRICS Head of Investment Hamburg Direct: +49 40 328701101 frank-d.albers@colliers.com
Béla Tarcsay Head of Investment Munich Direct: +49 89 62429423 bela.tarcsay@colliers.com
Frank Leukhardt Head of Investment Stuttgart Direct: +49 711 2273325 frank.leukhardt@colliers.com
Ulf Buhlemann, FRICSHead of Portfolio Investment & Advisory Germany Head of Investment Berlin
Direct: +49 30 20299349 ulf.buhlemann@colliers.com
Herwig Lieb Head of Investment Düsseldorf Direct: +49 211 86206233 herwig.lieb@colliers.com
Colliers International Deutschland GmbH Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main Telefon +49 69 719192-0 info@colliers.com www.colliers.de
Copyright © 2017 Colliers International Deutschland GmbH.This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and/or its licensor(s). © 2015. All rights reserved.
Ignaz Trombello, MRICS Head of Investment GermanyHead of Office Investment Germany Direct: +49 211 86206213 ignaz.trombello@colliers.com
Thomas Dänzel Head of Retail Investment Germany Direct: +49 89 62429427 thomas.daenzel@colliers.com
Hubert Reck Head of Logistics Investment Germany Direct: +49 711 2273316 hubert.reck@colliers.com