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- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Germany acquires third REIT in Duisburg's Hamborner
Germany has acquired its third Real Estate Investment Trust, kicking off a year that promises to be significantly more active in the listed sector than 2009. At the start of the year the quoted property group Hamborner, based in the Ruhr town of Duisburg, applied for registration as a REIT. A spin-off from the Hamburg landesbank HSH Nordbank, Hamborner thus follows Hamburg's alstria Office and Munich's Fair Value, both of which won REIT status in 2007.
Hamborner holds a portfolio worth around E314m, split among 58 assets in 41 locations and some 4.5m sq.m. of building land, mainly in the Duisburg area. It posted a profit of E4.4m at nine months, down slightly from the same 2008 period. (See upcoming PIE/PFE editions for full story)