German funds invested € 681 mln. in Dutch real estate

In 2002 German open and closed real estate funds have bought € 681mln. worth of Dutch commercial real estate. The open-end funds invested € 171 mln. in seven objects, the closed funds invested € 510 mln. in 38 objects in the Netherlands. This mostly concerns office investments. These conclusions are drawn from the first results of a research by the German real estate consultancy company Bulwien AG.

The research into the Dutch investments is part of a larger research into the investment behavior of German real estate funds. According to Bulwien, German open-end real estate funds have in total bought real estate objects worth € 12.8 bln. in 2002, of which 60% (€ 7.8 bln) in 18 countries outside Germany. The most important investment country outside Germany is France with 36 objects, worth € 3.4 bln. Second comes the UK with 11 objects worth € 1.2 bln.

According to another research done last year, by EBS Immobilienakademie under assignment of Troostwijk Makelaars, German investors owned approx. € 5.6 bln worth of real estate in the Netherlands. For the period of 2002 to 2004, Troostwijk/EBS assumed an annual investment volume of € 500 mln. to € 1.5 bln.

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