PIE Events
- Nordics Property Breakfast
31 May 2012
Frankfurt am Main, Germany
Upcoming Events
- Property Debt Breakfast
20 June 2012
London
Germany's DIC to re-start investing in 2010 as Frankfurt's Maintor moves forward
German listed DIC Asset is likely to start investing again as early as second half 2010, while the buy-out of Morgan Stanley from its Maintor project brings more flexibility on funding, allowing progress as fast as planning allows, says CEO Ulrich Höller. He told PIE that the strategy amid the global economic crisis has proven sound; last year it depreciated its purely German portfolio by 8.5%, but avoided laying off a single staff member and focused on asset management to gain as much rental cash-flow from its e3.3bn AUM as possible. "Definitely we see some super opportunities coming onto the market in the next short while," he says. "But I expect this to be more interesting from mid-2010."