Commerz Real reports record transaction volume and wants to become more sustainable
In 2018, Commerz Real bought 18 properties and four wind parks for a total of €3.5bn, and sold 22 assets worth €1.5bn for its funds. The company reports this as a new record transaction volume. A little more than half of the sales and acquisitions – including the largest deals, Frankfurt’s “Omniturm” and the New Yorker University building “222 E 41st Street” – were for the open-ended real estate fund Hausinvest, which grew by €1bn to €14bn. New business volume with institutionals was €400mn, exceeding the previous year’s figure by about 21 %. For 2019, Commerz Real will be focusing in particular on sustainability, and has recently advertised the position of “Head of Sustainability” for that purpose. The intention is to obtain all sustainability-relevant data on the assets under management in the medium term, in order to reduce their energy and water consumption.
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