Germany Club MeetingBerlin, September 20th

OPPORTUNITIES IN GERMANY’S ALTERNATIVE RESIDENTIAL

GRI Club Members and invited guests met last Thursday at the CMS Hasche Sigle office in Berlin to discuss appetite for alternative residential and alternative mixed-use assets in Germany; a discussion moderated by Andreas Otto (CMS) and Horst Lieder (International Campus AG) led to some interesting dialogue around different ‘alternative’ models and getting the balance right.

Among participants were Berthold Becker, Managing Director, Threestones Capital; Harald Hubl, Investment Director, Value One Holding; Bernd Ruck, Co-Founder, SAX Group; Christoph Langmack, Head of Acquisitions Residential, Patrizia; Andreas Hardt, Managing Director - Germany, Oxford Properties Group; Sven Olaf-Eggers, former CEO of Patrizia; Gunter Minge, Managing Director, ResiLab 

The group shared perspectives on how ‘flexibility’ in use and increasing interest in mixed-use projects is blurring the distinctions between asset classes; younger generations are increasingly willing to work, play and sleep in one place and assets are adapting to suit this flexibility.Participants noted that developers anticipated this need relatively quickly in Germany; it has taken some time for investors to open up to opportunities. However, there was some disagreement around quite how open investors are to many alternative assets even today.

Institutional appetite appears to be leaning more towards the more ‘traditional’ and single-use asset types; for example ‘student-housing’ is always going to be easier than a combined co-working/ co-living concept. These combined concepts have taken a hold faster in the UK than in Germany where aspects of zoning regulation hamper this sort of innovation.

In addition to complex regulatory barriers, many agreed that land prices in the big cities are already sky high and makes “alternative assets” with greater operational/ service-based risk, even more tricky.

The majority of the participants agreed that ‘alternative assets’ are the best way to generate yields in today’s environment. And ironically the increasing pressure to take on an operational ‘hands-on’ approach with assets is further driving the need for ‘flexibility’ in how a space is used, and flexibility in the asset ‘mix’. Modular housing was also discussed as a something that is seen as sustainable, flexible and ‘crisis-proof’.

teste

Advisory Board Members
Christopher GarbeChristopher GarbeManaging PartnerGarbe Logistic Real Estate GmbH
Andreas HardtAndreas HardtManaging DirectorOxford Properties Group
Anni HönickeAnni HönickeGlobal Head of RE LendingDekaBank Deutsche Girozentrale
Bernd KnoblochBernd KnoblochPartnerContinuum Capital GmbH & Co KG
Gerhard MeitingerGerhard MeitingerMD, Head of Real Estate Finance Germanypbb Deutsche Pfandbriefbank
Ingo HartliefIngo HartliefCOO & Spokesman of the Management BoardReal Estate Advisory Services
Jürgen LeibfriedJürgen LeibfriedFounder & Managing PartnerBAUWERT Aktiengesellschaft
Klaus-Jürgen SontowskiKlaus-Jürgen SontowskiChairmanSontowski & Partner Group
Sascha KlausSascha KlausCEOBerlin Hyp AG
Thorsten SchönenbergerThorsten SchönenbergerMember Board of Managing DirectorsLandesbank Baden-Württemberg
Christopher Garbe
Managing Partner
Garbe Logistic Real Estate GmbH
GERMANY
Biography:
BA - Economics, (Hamburg University) MBA - Int. Mgt. (UTS, Sydney) 2003-2006 Management Executive Westfield Australia Since 2006 Director Garbe UK Since 2010 CEO Garbe Logistic AG (now Garbe Industrial Real Estate) Since 2012 Managing Partner Garbe und Nixdorf Holding
Andreas Hardt
Managing Director
GERMANY
Biography:

Andreas is responsible for the real estate business of Oxford Properties in Germany. Oxford Properties is part of OMERS which is, with $100bn net assets, one of Canada’s largest pension plans. 
Prior to joining Oxford Andreas was Head of Germany for Blackstone's German real estate platform. He has 25 years of experience in asset management, fund management, acquisition & sales and project development. Andreas has also been Managing Director at Valad in Berlin, Director Central Region at Goldman Sachs RMD/Archon in Frankfurt and Fund Directo

Anni Hönicke
Global Head of RE Lending
Germany
Segment: Anni Hönicke, 55, verantwortet seit 2007 weltweit das Immobilienfinanzierungsgeschäft bei der DekaBank. Zuvor war sie viele Jahr
Biography:
Anni Hönicke, 57 years old, is in charge of the global Real Estate Lending for DekaBank since 2007. Before that, she held various senior positions at Eurohypo in international Real Estate Lending. For more than 20 years and over several property cycles she structures and manages transactions in Europe, North America and Asia together with her teams.
Bernd Knobloch
Partner
Continuum Capital GmbH & Co KG
GERMANY
Biography:

Knobloch studied Law & Business Administration and is admitted to the German Bar. From 1979 until 1991 he was a Managing Partner of Allgemeine Bautraeger GmbH Cederbaum. In 1991 he joined the Frankfurter Hypothekenbank and was Chairman of the Managing Board of Directors of Eurohypo AG until 2008. From 2006 until 2008 he was Member of the Board of Managing Directors of Commerzbank AG. From November 2008 until August 2009 Knobloch was Member of the Supervisory Board of Hypo Real Estate Holding AG. From 2009 until 2012 Knobloch was Board Member of Josef Schörghuber Foundation. He is Non Executive Director of Palatium Investment Management Ltd. and Deputy Chairman of Citycon and Gem. Hertie Stiftung. He is also Partner at Continuum Capital.

Gerhard Meitinger
MD, Head of Real Estate Finance Germany
Germany
Segment: Bank - Lender
Biography:
Gerhard Meitinger is Managing Director at pbb Deutsche Pfandbriefbank and is responsible for the Real Estate Finance Business Germany. He has many years of experience in the German Real Estate and Lending business both with real estate professionals as well as international and institutional clients. The focus of his activities is the financing of real estate investments with single properties and portfolios. He also focuses on the financing of development projects in appropriate locations and adequate financing models.
Ingo Hartlief
COO & Spokesman of the Management Board
Real Estate Advisory Services
Biography:

CEO of CORPUS SIREO Asset Management GmbH, a specialist for finding real estate investment opportunities and designing asset vehicles for international and domestic investors. Ingo is responsible for the CORPUS SIREO group’s asset management and funds division based in Frankfurt and Luxemburg. On behalf of international and domestic institutional investors, banks and credit servicers as well as corporate bodies, Ingo and his workforce of several hundred employees manage several large and medium-sized commercial and residential portfolios throughout Germany. Prior to this Ingo was Managing Director at Union Investment Real Estate and CEO at Union Investment Institutional Property. Ingo holds a business degree from Cologne University.

Jürgen Leibfried
Founder & Managing Partner
BAUWERT Aktiengesellschaft
Segment: Born and raised in Munich. Graduated in economics (Dipl.-Kfm.) in 1981 and phd (Dr. oec.publ.) in 1988 at Ludwig Maximilians Uni
Biography:
Dr. Leibfried founded BAUWERT in 1983. Over 32 years, he pursued the maxim of building exclusive projects in best locations. Until today, over 300 projects with a total volume of 4,2 billion Euro were realized by BAUWERT.
Klaus-Jürgen Sontowski
Chairman
Sontowski & Partner Group
Germany
Biography:
Born 1956 in Erlangen. Educated in economics and business administration. Chairman and founder of sontowski & partner group - Germany. Foundation partner of DIC Group - Germany. Function: Vice-Chairman of the Supervisory Board. Foundation partner of GRR Group - Germany. Foundation partner of Pegasus Capital Partners. Function: Chairman of the advisory board. Foundation partner of GEG JV DIC Group and KKR. Function: Member of the supervisory board. Sponsor of national and international closed ended funds. Investor in opportunistic and strategic JV's.
Sascha Klaus
CEO
Germany
Segment: Lender
Biography:
Sascha Klaus was appointed CEO of Berlin Hyp AG as of October 2016. He most recently worked at Hypothekenbank Frankfurt (formerly Eurohypo) as a Member of the Board of Management from 2012. At the same time, he was Divisional Board Member for non-core assets at Commerzbank. The Franco-German joined Deutsche Bank Group in 1990, moved on in 2000 to Dresdner Kleinwort, New York, where he held the position of Head of Financial Institutions−Risk Management. 2008, he returned to Europe, where, after various national & international managerial positions at the Dresdner Bank/Commerzbank Group, he was appointed to the Board of Management in the Eastern European holding company. He received a MSc degree in business administration.
Thorsten Schönenberger
Member Board of Managing Directors
GERMANY
Biography:
Thorsten Schönenberger studied at the Free University Berlin/University Carlos III in Madrid and graduated in Business Administration. He started his career at Hamburgische Landesbank (Real Estate Lending North America) until 2008. Afterwards he worked at HELEBA in Frankfurt a.M. as department head (i.a. Lending Western/Southern Europe). From May 2011 to August 2017, Thorsten Schönenberger was the Global Head of Real Estate and member of Supervisory Board of several real estate companies. Since August 2017: Member of the Board at LBBW responsible for department Real Estate and Project Finance.
Timetable

Thursday, September 20th

08.30 - 09.00 Registration / Welcome


09.00 - 10.15 Discussion - "Opportunities in Germany's Alternative Residential"


10.15 - 11.00 Networking and coffee

CRITERIA TO BECOME A CLUB MEMBER

Membership is subject to approval by a committee of peers and is reserved exclusively for senior investors, lenders and developers*.

Qualified individuals (C / Director Level) that believe they could benefit from being part of such a global community are welcome to further details.

*Some leniency is given to those outside this category up to a maximum of 10% ratio of the Club.

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