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Grainger entered Germany in 2006 to take advantage of the enormous opportunities offered by Europe's largest residential market. Many portfolios have become available in recent years as ownership has shifted from municipal companies and large corporates towards private sector investors. We now own or have majority interests in some 7,000 units with a market value of nearly €500million (30 September 2008).
Single occupancy in Germany continues to rise and the supply of new housing is diminishing, which will create further opportunities in the future. We are concentrating on the more economically dynamic regions of Germany (Baden-Württemberg, Bavaria and the Rhine-Main area) as well as the major cities such as Berlin, Hamburg, Cologne, Dusseldorf and Munich.
Our background as a long-term specialist residential property owner and investor differentiates Grainger from the many purely financial investors and our long experience in asset and property management gives us a significant advantage over short-term players with no expertise in German real estate.
In early 2008, Grainger took over FranconoRheinMain AG, a quoted residential company based in Frankfurt. Grainger Deutschland expects to move from its Mannheim base to Frankfurt at the end of November 2008.
Contact:
- Peter Brock, MD Grainger Deutschland GmbH, pbrock@graingerplc.de or +49 (0) 69 255 346 100
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