Ausria's conwert Immo on course for strong results due to demand for its assets, Kowar

Austrian listed residential investor conwert Immobilien is on course for a very strong result in 2009 mainly due to high revenue income from private purchases of its residential portfolios in Vienna and Germany stemming from fears of coming inflation, says CEO Johann Kowar. He told PIE in an interview, "We are having the strongest year ever due to the acquisition turnover on our residential portfolio." conwert also entered a partnership in summer with Deutsche Bank's DWS fund management unit for its alt + kleber German residential manager to a e120m residental portfolio for the banking group, and Kowar is hopeful that this project, the first fund that the Vienna-based group has managed, may lead to other similar opportunities, particularly given fast-rising demand for residential assets in its key markets (Full story upcoming in next issues of PIE/PFE)