The revelation was made by the company’s CEO in Spain, Esteban de Lope who stated that «there are no products available», because «no one wants to sell». And if this situation continues, he assumed diverting this capital to other European countries, such as France, Germany and the United Kingdom, where the company already has investments.
Under the company’s sights are assets both resilient to the pandemic, such as office buildings and logistic units and the most affected by it such as hotels and commercial spaces. In an interview to Spanish Eje Prime, the Deka Immobilien's CEO revealed that if on the one hand, he is willing to pay pre-Covid values for the former, on the other hand, he will only invest on the latter if there is «a price adjustment».
€4.000M per year to invest
The German management company has around 4 billion euro per year to invest in the 25 European countries where it is already present, including Portugal and Spain.
In 2020, around 3 billion euro was already allocated to European real estate. It seems, according to Esteban de Lope, «that we will be able to fulfil the plan we had for the current year».
In April, the CEO had already stated that Deka Immobilien was seeking investment opportunities between 50 and 200 million euro. But only now did he explain the reason why no acquisitions were made in Spain until now. Last year, unlike the current one, was dedicated to rotating assets within the country, which earned the company 145 million euro.