Capital Markets Germany - Colliers Deutschland · › Tactical advice for issuing bids in...

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


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


Our sector-specific investment team leaders

Ignaz Trombello, MRICS Head of Office Investment Germany Direct: +49 211 86206213

[email protected]

Thomas Dänzel Head of Retail Investment Germany Direct: +49 89 62429427

[email protected]

Hubert Reck Head of Logistics Investment Germany Direct: +49 711 2273316

[email protected]

Our Asian Desk

Hui Liu Senior Director Investment / Asian Desk Direct: +49 89 62429483

[email protected]

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 [email protected] Number of professionals: 5

DÜSSELDORF

Herwig Lieb Head of Investment Düsseldorf Direct: +49 211 86206233 [email protected] Number of professionals: 6

FRANKFURT

Robert Menke Head of Investment Frankfurt Direct: +49 69 71919267 [email protected] Number of professionals: 6

HAMBURG

Frank-D. Albers, MRICS Head of Investment Hamburg Direct: +49 40 328701101 [email protected] Number of professionals: 3

MUNICH

Béla Tarcsay Head of Investment Munich Direct: +49 89 62429423 [email protected] Number of professionals: 16

STUTTGART

Frank Leukhardt Head of Investment Stuttgart Direct: +49 711 2273325 [email protected] Number of professionals: 7

Our Local Investment Teams


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.


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 [email protected]

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


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.


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


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

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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

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Bu

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am

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Hallesches

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da

mm

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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

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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


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


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.


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.


450 PROFESSIONALS

67 COUNTRIES

75 € BNTRANSACTION VOLUME

Key Facts: Global Capital Markets


Contacts

Robert Menke Head of Investment Frankfurt Direct: +49 69 71919267 [email protected]

Frank-D. Albers, MRICS Head of Investment Hamburg Direct: +49 40 328701101 [email protected]

Béla Tarcsay Head of Investment Munich Direct: +49 89 62429423 [email protected]

Frank Leukhardt Head of Investment Stuttgart Direct: +49 711 2273325 [email protected]

Ulf Buhlemann, FRICSHead of Portfolio Investment & Advisory Germany Head of Investment Berlin

Direct: +49 30 20299349 [email protected]

Herwig Lieb Head of Investment Düsseldorf Direct: +49 211 86206233 [email protected]

Colliers International Deutschland GmbH Thurn-und-Taxis-Platz 6 60313 Frankfurt am Main Telefon +49 69 719192-0 [email protected] 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 [email protected]

Thomas Dänzel Head of Retail Investment Germany Direct: +49 89 62429427 [email protected]

Hubert Reck Head of Logistics Investment Germany Direct: +49 711 2273316 [email protected]

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