SEB ImmoInvest continues sales activities for re-opening in 2012 (DE)

Due to current incidents in the financial sector SEB Asset Management has postponed the re-opening of the open-ended real estate fund SEB ImmoInvest to next year.

Previous sales activities have been very successful. Liquidity in the fund increased due to the closing of several domestic and international deals during the last months. 14 properties have been sold above current market prices. In consequence, liquidity increased to 21%, equaling approximately €1.4 billion.

The public debt crisis and the announcements of two renowned investment companies to postpone the re-opening of one fund and liquidate another have affected the process regarding Potsdamer Platz in Berlin. The decision how to proceed has been deferred to the upcoming year.

Barbara Knoflach explains the situation as follows: "The markets have changed dramatically since the beginning of the year. On behalf of all investors – irrespectively of their investment strategies – maintaining the value of their assets is our first priority."

Negotiations for selected properties are currently underway and will continue. The aim is to return to "business as usual" on the basis of a solid real estate portfolio.

Source: SEB Asset Management

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