Will IREIT benefit from this since it has a property in the outskirt of Frankfurt?
https://www.bloomberg.com/news/articles/...ium=social
Frankfurt Is Already Running Out of Office Space for Banks
Banks are running out of options to lease large amounts of office space in Frankfurt following the U.K.’s vote to leave the European Union.
“The vacancy rate has slipped below the 10 percent level” and there is a growing shortage of bigger office buildings in central areas, BNP Paribas SA’s real estate broker unit wrote in a report on Thursday. “In view of the anticipated increase in demand by banks in connection with Brexit, this shortage looks set to intensify in the months ahead.”
Under new mgs, will surely be proactive in attracting them.👍
"LONDON (AP) - The International Monetary is more optimistic about the economy of the 19-country eurozone after a run of elections saw populist politicians defeated and risks to its outlook abated.
In an update to its April projections published Monday, the IMF revised up its growth forecasts for many eurozone countries, including the big four of Germany, France, Italy and Spain, after stronger than anticipated first quarter figures.
Germany, Europe's biggest economy, is projected to grow by 1.8 percent, up 0.2 percentage point on the previous estimate, while France is forecast to expand 1.5 percent, up 0.1 percentage point. Projections for Italy and Spain have been revised higher by a substantial 0.5 percentage point. The two are now expected to grow by 1.3 percent and 3.1 percent, respectively. All four are also expected to grow by more than anticipated in 2018.
Overall, the IMF expects the eurozone to expand by 1.9 percent this year, 0.2 percentage point more than its previous projection
"On the upside, the cyclical rebound could be stronger and more sustained in Europe, where political risk has diminished," the IMF said in Monday's report.
The lead eurozone economist at Oxford Economics, Ben May, thinks the IMF's forecast may actually turn out to be too cautious. He's predicting 2.2 percent growth as the region benefits from lower inflation, healthy global growth and a pick-up in business investment."
https://www.propertywire.com/news/europe...ic-crisis/
According to Hanns-Joachim Fredrich, head of Capital Markets Germany at Knight Frank, explained that in Germany pricing is looking sharp, with offices in central business districts trading at record levels with record demand forcing up prices. ‘Investment into Frankfurt has significantly increased due to the ongoing Brexit discussions, however a lack of suitable product is hindering its deployment,’ he said.
‘All property classes are benefiting from the strong investor demand, not only prime offices and retail but also hotels, residential and healthcare. Due to the extremely high investor demand for residential, there is a shortage of commercial developments within Germany’s top seven cities. Most office developments are pre-let two or three years before completion,’ he explained.
(02-11-2017, 12:37 PM)laksaman57 Wrote: [ -> ]https://www.propertywire.com/news/europe...ic-crisis/
According to Hanns-Joachim Fredrich, head of Capital Markets Germany at Knight Frank, explained that in Germany pricing is looking sharp, with offices in central business districts trading at record levels with record demand forcing up prices. ‘Investment into Frankfurt has significantly increased due to the ongoing Brexit discussions, however a lack of suitable product is hindering its deployment,’ he said.
‘All property classes are benefiting from the strong investor demand, not only prime offices and retail but also hotels, residential and healthcare. Due to the extremely high investor demand for residential, there is a shortage of commercial developments within Germany’s top seven cities. Most office developments are pre-let two or three years before completion,’ he explained.
The new french CEO is taking a long time to decide which asset he want to acquire....
"During the quarter, one of IREIT?s key tenants at Concor Park has exercised its prolongation
option to extend its lease for another three years, one year ahead of its lease expiry.
As at 30 September 2017, IREIT?s overall portfolio occupancy rate held steady at close to 100%, with
a weighted average lease expiry of 5.3 years.