Aroundtown growing considerably
The commercial property portfolio of Aroundtown has grown substantially during the first three quarters from €9.8bn to €13.2bn. Acquisitions by the largest listed commercial property investor in Germany added up to €2.4bn; sales came to €740mn at an average markup of 30 % over cost. Net gains for the first nine months, which increased by 28 % to €1.4bn, include valuation gains of €1.17bn. Operatively as well, the growth phase continues: FFO increased by 46 % to €297mn, like-for-like rental income rose by 4.5 %, with 1.7 percentage points being due to lower vacancy rates. Of the €6.9bn office portfolio, 10.7 % are vacant.
Subscribers to our premium service have access to this article in full as well as to an additional 480,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany's leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.