DB Real Estate Germany last week presented its half-year statements of account for the two open-end real estate funds, grundbesitz-invest and grundbesitz-global and for its closed funds.
By publishing its data, DB Real Estate Germany far exceeds the legal requirement and the usual standards in the sector. “DB Real Estate Germany currently management assets amounting €45.6 bn, thus occupying one of the top spots worldwide in terms of its equity capital”, said Michael A. Kremer, CEO DB Real Estate Germany.
As at 30-September-2004, grundbesitz-invest showed an appreciation in value of 2.7%, thus improving by 0.2% over the same period last year. By the reporting date, grundbesitz-invest possessed total real estate assets of approximately €7.1 bn in addition to €1.494 m in liquid assets. The open-end investment fund generated a dividend of €1.75 per share and generated a yield of 3.7%. grundbesitz-global registered inflows of €386 m from the start of April 2004 on. Its half-year performance stood at 2.5%.
“In terms of funds that largely invest in Germany, both grundbesitz-invest and grundbesitz-global have assumed third place”, explained Helmut Ullrich, Managing Director DB Real Estate Germany. In 2004, DB Real Estate launched three closed-end real estate funds: Metropolis 1, CityInvest 1 and CanadaInvest. “This propelled the firm back into the big league of German fund initiators,” explained Mario Liebermann, Managing Director DB Real Estate Germany. With its 43 closed real estate funds, DB Real Estate Germany currently has assets under management of €4.6 bn, €2.4 bn of which are in the form of equity capital.
“We want to assume a trend-setting position as far as corporate governance, transparency and new investment products (REITs) are concerned,” said Kremer. Ullrich added that these disclosures were not for show but a further improvement of the firm’s transparency efforts which were initiated two years ago.
Source: DB Real Estate