TOM June 2018

T
TOPS
O M
OF THE MONTH
Essential News About The Players In
The Retail Property Market In Germany
THE HOTTEST DEALS +++
PROJECTS +++ STATEMENTS
+++ BEST PRACTICES +++
BALANCES +++ PARTICULARS
presented by HI-HEUTE.DE
JUNE 2018
Unibail-Rodamco successfully
completes acquisition of Westfield
Company becomes the world‘s leading developer and operator of
flagship shopping destinations
TOP
DEAL
JUNE
Unibail-Rodamco recently announced
that it has completed
the acquisition of Westfield
to create Unibail-Rodamco-Westfield,
the world‘s leading
developer and operator
of flagship shopping destinations.
Unibail-Rodamco-Westfield
brings together two of the strongest
and most respected names
in the real estate industry to
build on their legacy. With a
portfolio worth 62 billion euros,
88% of which is in retail, Unibail-Rodamco-Westfield
owns
and operates 102 shopping
centres in 13 countries, 56 of
which are flagships in the most
dynamic cities in Europe and
the USA. 1.2 billion visitors
are counted in the centres every
year.
Unibail-Rodamco-Westfield
has an unrivalled development
pipeline of 13 billion euros.
Unibail-Rodamco-Westfield‘s
development projects are designed
to create „better places“ that
meet the highest environmental
standards and contribute to better
cities.
Christophe Cuvillier, Group
Chief Executive Officer, commented:
„The day of signing
was truly exceptional for us as
we bring together Westfield‘s
and Unibail-Rodamco‘s vast
fortune and 3,700 talented professionals.
We look forward to
writing a new chapter in our
history together.“

Page 02 T O M
STATEMENTS JUNE 2018
„
Josef Sanktjohanser, President of the
Handelsverband Germany
Internationally, the economy needs
cooperation rather than confrontation
in a closely networked world.
A customs war harms all concerned
in the end.
„
„
Andreas Mallich, CBRE,
Germany
We need to consider what kind of
city we want to live in in the future
and ask ourselves what we can
contribute to maintaining urbanity.
But a city without retail is certainly
not a city worth living in and
loving.
„
T
TOPS
IMPRINT
O M
OF THE MONTH
Essential News About The Players In
The Retail Property Market In Germany
Publisher:
Handelsimmobilien Heute Verlagsgesellschaft
mbH
Address:
Klaus-Bungert-Str. 3
40468 Düsseldorf
Germany
Tel. 0049-2011-429967-67
Web: www.hi-heute.de
Mail: tom@hi-heute.de
Frequency of publication:
monthly
Circulation: approx. 5000 copies
sent by e-mail
Editorial team: Bettina Meirose,
Susanne Müller, Michael
Henrichs, Thorsten Müller
Responsible in terms of press
law: Thorsten Müller
Layout: K4-PR, Essen
„
Dr. Daniel Siegert,
CEV,
Germany
Measures such as
the further development
of a specialty
shopping center into
a hybrid mall and the
corresponding repositioning
as a modern
center are now
imperative. The market
isn‘t that simple
anymore.
„
Josef Sanktjohannser
„
Sebastian Müller, GfK,
Germany
Grocers perform better than nonfood
traders
Sebastian Müller
„

Page 03 T O M
STATEMENTS JUNE 2018
TOP STATEMENT
JUNE
„The trade must
show its teeth
more!“
Dr. Thomas Beyerle (Catella),
Managing Director
of Catella Property Valuation
GmbH and Head of
Group Research in the Catella
Group, would like to
see more arguments from
the stationary retail trade
against „Amazonisation“.

Page 05 T O M
INTERVIEW June 2018
Food markets have
great potencial for reneval
Interview with Sebastian Schels, managing partner of RATISBONA Handelsimmobilien
The company RATISBONA
Handelsimmobilien, which
was founded about 30 years
ago in Regensburg, specialises
in the conception, development,
realisation, marketing
and administration of
food and specialist stores. It
is one of the market leaders
in this segment in Germany.
TOM editor-in-chief Thorsten
Müller spoke with Sebastian
Schels, the managing partner.
„Find the right
properties or build
them yourself“
TOM: Your father Rudolf
invented the NETTO brand
discount at the beginning of
the 1980s and built up an impressive
retail chain in the
following years, which now
belongs to the EDEKA Group.
A few years after the successful
NET beginnings, RATIS-
BONA Handelsimmobilien
was established. What was the
main reason for the creation
of your company at that time?
Sebastian Schels: I have to go
back a bit ... We Schels have
been a family of traders for several
generations. It all started in
the 1920s with my great-grandfather
Michael, who supplied
grocery stores with goods. My
father realized early on that the
economic opportunities were
very limited in the long run and
was looking for new concepts.
He tried a lot and finally came
up with the decisive idea: the
sale of branded articles at a discount
price! Theory became reality
and the idea became a success
story. The rapid growth of
NETTO was also accompanied
by a great challenge: to find the
right properties or to build them
yourself. This is a key aspect for
the sustainable development of
the trading business. Instead of
always working with external
providers, my father decided
to do this himself in the future.
That is why he founded the
property development company
RATISBONA Handelsimmobilien.
In the beginning, we
Sebastian Schels, Managing Partner of RATISBONA Handelsimmobilien.
Photo: RATISBONA
were primarily responsible for
the development and realization
of the NET markets, which
grew rapidly. We are now also
building new markets for other
customers.
TOM: What does the cooperation
with NETTO look like
today?
Sebastian Schels: It is a very
trusting and still very successful
cooperation. Of the approximately
1200 grocery stores that we
have developed and realized
at present, about 900 are NET
stores.
TOM: But RATISBONA does
a lot more in the meantime.
What does your corporate
strategy look like?
Sebastian Schels: We have set
ourselves the goal of implementing
around 40 new projects
every year in the coming years.
This was the case in 2017
and our very concrete goal for
2018. However, with the difference
that the projects tend to
be larger because the volume of
rental space is increasing.
TOM: Is there anything else
imaginable for you in the
medium term besides the above-mentioned
property types
and sizes?
Sebastian Schels: We occasionally
look at other asset classes,
but this always depends on
the project environment. New
apartments are currently in particularly
high demand in large
cities. We would certainly conceive
and develop such projects,
we would involve architects and
create building laws, but then
leave the building to others.
We follow the motto: „Cobbler,
stick to your last! Our focus
is clearly on food markets and
specialty shopping centres. We
have been experts in this field
for three decades and we still
see significant growth opportunities
in the long term.
„Modernization is
an essential component
for their
economic growth“
TOM: How do you currently
rate the German market?
How much potential is still
available in this country so
that you can implement your
planned projects as far as possible
without risk?
Sebastian Schels: In our view,
the potential is enormous. Both
in terms of new settlements and
revitalisations. Of course, there
are market participants who say
that every German municipality
already has a centre of its life
and no one has to starve. This
is true, but at the same time it
is also a very undifferentiated
view that does not fully reflect
reality and thus also the potential
for new buildings and revitalisations.
I would estimate
an average increase in sales of
around 20 percent for retailers
as a result of modernized stores.
For dealers, modernization is an
essential component for their
economic growth.
TOM: What specific tasks will
RATISBONA Handelsimmobilien
be dealing with in the
coming months?
Sebastian Schels: Digitisation
is also a major issue for us. We
recently commissioned our own
team to lay the foundations for
BIM - Building Information
Modelling. In this area, we want
to take on a pioneering role in
the segment of food stores and
specialty shopping centres and
are well on our way to achieving
this. We also want to increasingly
offer project development as
a service for external companies.
So far we have realized the
majority for us as property. We
consider this to be an important
addition.
TOM: And which projects
will be completed shortly?
Sebastian Schels: An exciting,
because unusual project is the
realisation of a combined EDE-
KA and NET market in Gerolzhofen
in Franconia. The project
is particularly demanding when
it comes to the technical aspects
of the construction work, because
it involves increasing the
speed of completion. We also
intend to complete the conversion
of the Regental Center in
Regenstauf near Regensburg,
with almost 8,000 sqm of rental
space and an EDEKA as anchor
tenant, and subsequently sell
the property. A REWE store is
currently under construction at
a top location in Leonberg near
Stuttgart.

Page 07 T O M
PROJECTS June 2018
Green light for expansion
Designer Outlet Ochtrup: McArthurGlen is pleased about the „Go“
Neighbourhood
development in
Wiesbaden
The district government of
Münster has approved the
change of the land use plan for
the McArthurGlen Designer
Outlet Ochtrup.
Henning Balzer, Development
Director McArthurGlen Group:
„We are very pleased that the
district government has approved
the change of the land use
plan for the McArthurGlen Designer
Outlet Ochtrup in the city
of Ochtrup. This marks the start
of the expansion of the existing
space by an additional 7550
square metres to 19,050 square
metres“.
With the approval, the development
plan for the extension of
the McArthurGlen Designer
Around 130 million Euro
Unibail Rodamco-Westfield Group invests in a center-project in Osnabrück
Next milestone for the Oskar
in Osnabrück: On 22 June, the
Unibail-Rodamco-Westfield
Group submitted the building
application for the shopping
center at Neumarkt in Osnabrück.
Lord Mayor Wolfgang Griesert
received the documents in the
The Designer Outlet Ochtrup will continue to grow. Now the
first hurdle has been cleared.
Outlet Ochtrup can now also
come into force and the building
permit for the project can be
granted. McArthurGlen expects
Photo: McArthurGlen
these next steps to be taken in the
short term. The aim of the outlet
developer is to start construction
work as quickly as possible.
New ways to increase return
Topping-out ceremony for first SKYPARK at ECE shopping center
The project partners MQ Real
Estate and ECE celebrated
the topping-out ceremony of
the world‘s first SKYPARK in
Berlin together with around
200 invited guests. The complementary
new building on the
Ring-Center operated by ECE
is the first modular hotel on a
shopping center.
city hall. The building application
was thus submitted several
weeks before the contractually
stipulated deadline expired in
July 2018. The timetable presented
by the company envisages the
start of construction at the beginning
of 2019. The center is scheduled
to open at the end of 2020.
„After years of waiting and uncertainty,
we can say: „Now we
are finally continuing on a private
key property in one of the most
important places in the centre of
the city, after the Hasehaus was
completed as early as 2014,“ said
Wolfgang Griesert, Lord Mayor
of the City of Osnabrück, at the
handover of the documents in the
Town Hall.
Stadtentwicklungsgesellschaft
Wiesbaden (SEG)
and the Düsseldorf project
developer Development
Partner recently presented
the concept Quartier
FÜNFGASSEN favoured
by SEG as part of the investor
selection procedure
„City-Passage Wiesbaden“.
The planning of the architect‘s
office Chapman Taylor
commissioned by Development
Partner convinces those
responsible at SEG above all
by the approach of an open
neighbourhood development.
Development Partner is planning
for the‘Quartier FÜNF-
GASSEN‘ project with a total
investment of around 150
million euros - the concept
envisages a mix of retail and
gastronomy, residential, service/office,
hotel and fitness.
A total of 23,000 sqm of
gross floor space is to be
created, of which about
8,500 sqm are planned for
the retail/gastronomy sector,
4,000 sqm for living, 8,500
sqm for the hotel sector and
2,000 sqm for fitness.
Burger King
plans 300 new
restaurants in
Germany
A new round in the fight
for market share is about
to begin in the fast food industry:
Burger King plans
to open 300 new restaurants
in the next few years
and thus expand its offer
by more than 40 percent.
The time for the topping-out
ceremony is also special: A topping-out
ceremony is actually
celebrated when the shell of a
building is completed and the
roof truss is erected or the roof
is constructed. This conventional
definition cannot be applied
to MQ Real Estate‘s SKYPARK
concept because the company is
MQ Real Estate and ECE celebrated the topping-out ceremony of the
world‘s first SKYPARK in Berlin. Visualization: ECE
breaking new ground. The real
estate start-up from Berlin begins
to build where others stop. This
breaks through some of the conventions
common in the real estate
industry: Roof areas of existing
owners are only rented on a
long-term basis, the buildings in
the factory are completely prefabricated
from wood and the
room modules, some of which
have already been furnished, are
„put on“ the existing building by
crane.
„We currently have 710 restaurants
in Germany,“ said
Germany‘s head Carlos Baron.
„Our goal is to have
more than 1,000 restaurants
by 2023.“ Burger King is
currently half the size of
market leader McDonald‘s
in Germany with nearly 1500
fast food restaurants.

Page 09 T O M
DEALS June 2018
Union Investment:
Styria Center in Graz
Union Investment has secured
the Styria Center in the city
centre of Graz under a purchase
agreement. The property is a
mixed-use commercial property
with residential, office and commercial
units and a total rental
area of around 15,000 sqm. The
seller is a consortium of three
private owners. The purchase
price is over 40 million euros.
The purchase in Annenstrasse is
for the portfolio of the open-ended
mutual property fund immofonds
1, which is sold exclusively
in Austria. The fund thus
acquires its second property in
short succession, in which the residential
type of use accounts for
the largest share. In mid-May,
the purchase of a projected residential
and commercial property
in Vienna with a rental area of
around 9,700 sqm was announced.
The economic transition of
the Styria Center is expected for
autumn.
Swiss Life acquires
Berlin-based BEOS AG
Real I.S. acquires
Sumatrakontor in HafenCity
Mixed-use property in Hamburg also includes retail and gastronomy
Real I.S. has acquired the Sumatrakontor
in Hamburg‘s
HafenCity for an individual
mandate. The property has
a plot size of around 9,600
square meters with a total
rental area of more than
30,000 square meters. the
purchase contract for the
mixed-use property was signed
in mid-June. The parties
have agreed not to disclose
the purchase price.
The rental area of the property,
which was completed in 2010,
is spread over ten storeys. In
addition to office and retail
space, the building also has
86 residential units between
43 and 152 square metres. In
addition, 445 parking spaces
are available in the Überseequartier
underground car park.
A large supermarket with drugstore
and bakery are located
directly below the building.
Opposite the office is the old
port authority with its market.
In addition, the quarter offers
various cafés and restaurants
and various cultural activities.
„HafenCity is one of Europe‘s
most important urban development
projects. The Sumatrakontor
is located in the heart
of Überseequartier and thus
in the centre of HafenCity. Its
special external characteristics
make it an ideal fit into this
special location,“ says Axel
Schulz, Global Head of Investment
Management at Real
I.S. AG.
Swiss Life Asset Managers recently
announced that it will
buy Berlin-based BEOS AG.
The acquisition further strengthens
the company‘s position in
the German real estate market
and strengthens access to institutional
clients. BEOS is the
leading investment manager of
corporate real estate in Germany,
headquartered in Berlin. The
company today employs around
150 people in interdisciplinary
teams and has further branches
in Hamburg, Frankfurt, Cologne,
Munich and Stuttgart.
SIGNA Group will
take over Austrian
furniture chain
The SIGNA Group has made an
offer to purchase the furniture
chain kika/Leiner from the South
African Steinhoff Group. This offer
covers the operational trading
business with its approximately
5,500 employees as well as the
approximately 70 real estate locations
in Austria and CEE and
provides an Austrian solution.
Steinhoff International has accepted
this offer from the SIGNA
Group. The takeover can avert the
threat of insolvency and ensure
the continuation of the traditional
Austrian company.
Real I.S. has acquired the Sumatrakontor in Hamburg‘s HafenCity.
Warburg-HIH buys five
local supply centres
from Rockspring
400 to 450 million Euros investment volume
Warburg-HIH Invest has acquired
a portfolio of five local
supply centres with a total
rental area of around 43,000
sqm for the „Perspektive Einzelhandel:
Fokus Nahversorgung“
fund.
The properties were sold by
Rockspring Property Investment
Managers LLP („Rockspring“),
a PATRIZIA company,
on behalf of an open pan-European
vehicle. The open special
AIF launched by Warburg-HIH
Invest invests in local supply
centres in growth regions in
western Germany with an individual
size of ten to 40 million
euros.
The targeted total investment
volume is 400 to 450 million
euros. Of this amount, around
250 million is attributable to
equity. The annual distribution
yield should be between 4.5 and
5.5 percent.
Photo: Real I.S.
Centerscape buys
six additional
retail properties
The Centerscape Group was able
to expand its portfolio by another
six properties, which are rented
to well-known food retailers in
accordance with its corporate
strategy. The locations in Munich,
Wedemark, Ergoldsbach
and Wuppertal (2x) acquired in
a package deal have a total plot
area of more than 25,000 sqm
and a total rental area of almost
8,500 sqm.The properties rented
to EDEKA, REWE and NETTO
are all located in well integrated
city locations. The sixth property
is a market rented to Biedronka
in Swidnica, Poland,

YOU TAKE YOUR TIME.
WE TAKE AWAY YOUR STRESS.
At Your Service: ECE‘s holistic approach brings customer services to a whole new
level. Based on the findings of a comprehensive study, ECE has analyzed its centers
to highlight the services on site, optimize them according to their needs, and
complement them perfectly. In a first phase, 160 million euros will be invested
into 60 shopping centers by 2020. For more information, go to www.ece.com.

Page 11 T O M
BALANCE SHEETS June 2018
Successful fiscal year 2017 for WISAG
Sales increase of five percent and around 1000 employees more
Ralf Hempel, Chairman of the Management Board of WISAG Facility
Service Holding GmbH.
Photo: WISAG
With around 32,000 employees
and sales of 1.067 billion
euros, WISAG Facility
Service Holding GmbH has
successfully closed its 2017 financial
year. The five percent
increase in sales compared to
the previous year is primarily
due to organic growth; the
individual service areas developed
at different rates. The
change in the labour market
and digital change are two
important topics with which
the real estate specialist has
intensively dealt - and which
will remain top topics in the
future.
Markets and technology landscapes
are changing at an enormous
speed. The increasing
dynamism means that companies
are in a permanent change
process. „The challenge here is
to manage change with a sense
of proportion and to act successfully
without overtaxing
the organization and partners
in the market,“ says Ralf Hempel,
Chairman of the Management
Board of WISAG Facility
Service Holding GmbH. The
company succeeded in doing so
again in 2017. Compared to the
previous year, the turnover of
the real estate specialist rose by
five percent to EUR 1.067 billion,
the number of employees
increased by 961 to a total of
32,102. Business with large and
small and medium-sized customers
was expanded to about the
same extent.
Both Facility Management (+
15.4 %) and Garden and Landscape
Management (+ 20.2 %)
posted double-digit and thus
above-average sales growth.
Building Services (+ 8.0 %),
Cleaning (+ 3.6 %) and Security
& Service (+ 9.1 %) also developed
positively. Only Catering
recorded a year-on-year decline
in sales (- 9.2 %). The reason for
this is a decline in demand for
food for first-time care facilities,
as the number of people who
fled to Germany has declined.
In contrast, the company catering
sector increased its sales by
around five percent.
„The increasingly noticeable
shortage of manpower presents
us with great challenges. However,
it also holds opportunities
for us as a service provider,
because it also drives our customers
around and thus influences
our business,“ says Ralf
Hempel. He expects that smaller
companies in particular will
focus more strongly on their
core business and increasingly
outsource facility services. In
addition, employee satisfaction
is gaining in importance for
companies in view of the shortage
of manpower. An attractive
working environment plays an
important role here, and Facility
Services has a major influence
on this. „Ralf Hempel is convinced
that the attractiveness of the
job is increasingly turning from
a cost factor to a survival factor.
Essential starting points of WI-
SAG Facility Service to counter
the shortage of manpower are:
breaking new ground in recruiting,
increasing the training
quota, expanding the training
and further education offer -
also in the direction of digital
competences - and making oneself
better known and more attractive
as an employer.
WISAG Facility Service is also
driving digital change with a
sense of proportion. „Digitalization
makes many things
possible, but not everything is
necessary,“ says Ralf Hempel.
„With all these visionary ideas,
we must not lose sight of today
and tomorrow - here, even
without talking about digital
technologies, we still have tasks
ahead of us.“
Drees & Sommer posts significant growth
Fiscal 2017: Strong increase in Group sales and operating profit
The internationally active
consulting and project management
company Drees &
Sommer was able to continue
its growth course of the past
decades in the 2017 business
year.
Group sales rose from 334.8
million euros in 2016 to 380.1
million euros.Earnings also increased
again to 45.0 million
euros. The equity ratio is 36.0
percent. In addition to market
leadership in project and
construction management in
Germany and Switzerland, the
partner-led company is now one
of Europe‘s leading providers
of real estate consulting, particularly
in facility management
consulting and user experience
(UX).
Steffen Szeidl, Member of the Executive Board of Drees & Sommer
SE. Photo: Drees & Sommer
Steffen Szeidl, Member of the
Executive Board of Drees &
Sommer SE, explains what has
proved particularly successful at
Drees & Sommer: „In all our projects
we rely on our well-founded
technical and process knowledge,
which is now based on almost
five decades. We combine our
services with innovative methods
and digital processes. This includes
the digital planning method
BIM - and the related modularization
of components - as well as
digitization strategies for smart
commercial buildings, but also
the consistent application of lean
construction management during
the construction process. In
what we do, we always focus on
adding value to our customers in
terms of efficiency, cost or return
on investment“.

Page 13 T O M
NEWS June 2018
Görlitz NeißePark significantly
rejuvenated after renovation
EDEKA-Verbund invests in shopping and catering services
Modern, diverse, inviting: this
is the NeißePark in Görlitz.
After a two-year renovation
phase, the former shopping
centre Görlitz-Königshufen
has been ceremonially reopened
with a new name and
fresh appearance.
ZIA presents innovation report
of the real estate industry
Possibilities of serial construction are a clear innovation driver
For the second time, the Innovation
Think Tank of the
ZIA published the innovation
report of the real estate industry
and presented it at the
Real Estate Industry Day.
The ten-member jury headed by
Prof. Dr. Peter Russo, partner
of goetzpartners Management
Consultants, compiled a total
After the renovation: the NeißePark in Görlitz with a wide range of
shops and restaurants.
Photo: EDEKA
The EDEKA alliance has invested
around 27 million euros in
revitalisation. CEV Handelsimmobilien
GmbH was responsible
for the further development
and conversion of the Neiße-
Park. The company has redesigned
around 23,500 square meters
of existing retail space in
two construction phases. 7000
square meters are allotted to the
former toom DIY store. CEV
has reduced this area and created
several new sub-areas for
various specialist stores from a
large area. In addition, the retail
real estate specialist has created
240 additional parking spaces
on the site. This brings the NeißePark
to more than 1000 free
parking spaces. A quick charging
station for electric vehicles
was also installed. In the shopping
centre itself, visitors can
of 26 best-practice innovations.
These were selected from over
80 applications. In addition, the
jury compiled several application
examples for smart meter
technology in a special chapter.
„We are seeing a clear change
in the innovative power of our
industry. While a large number
of process innovations were
now choose from a much more
diverse range of shops and restaurants.
submitted in the first year, we
can already present many successful
product innovations in
the second year.
The possibilities of serial
construction, the Internet of
Things or even new software
solutions are a clear innovation
driver,“ explains Martin
Rodeck, Innovation Officer of
the ZIA.
CBRE presents new analysis tool for retail locations
With its analysis tool „Understanding
Retail Destinations“,
the global real estate
service provider CBRE
provides information on all
aspects of global retail.
The tool provides detailed
information on the most important
retail locations in 65
countries. For Germany alone,
general and detailed information
on 20 cities is available,
for example on the most
important retailers present,
the demand structure, typical
store sizes and rental levels.
„Understanding Retail Destinations‘
provides retailers,
landlords and investors with a
good overview of retail markets
in different countries,
cities and locations and thus
enables a worldwide comparison
of various locations,“
says Frank Emmerich, Head
of Retail at CBRE in Germany.
ECE receives
ZIA Award for
energy-saving
ECE has been awarded by the
Central Real Estate Committee
(ZIA) for the implementation
of a particularly energy-saving
lighting control solution for
shopping centers. The technology
used for the first time in
the Schlosspark-Center Schwerin
enables modern LED luminaires
to be controlled by radio
signal and dimmed according
to time of day and brightness.
This solution makes it possible
to achieve significant energy savings
and additionally minimize
CO2 emissions.
Colliers wins
Real Estate
Brand Award
Colliers International, a global
real estate consultancy, has
now won the Real Estate Brand
Award in the „KPI Strongest
Growth Personal Experience“
category for its corporate activities
in the EMEA region.
The leading benchmarking platform
for corporate brands, the
Real Estate Brand Institute, has
examined the market positioning
of around 1,400 European
real estate companies over the
past twelve months.
Two new EUROPA-
Center buildings
completed
The two new buildings EURO-
PA-CENTER am Forum and
EUROPA-CENTER Ecowiss
will create around 10,000 m² of
new commercial space in Adlershof.
The space is available for occupancy
in the second quarter of
2019. Together with the existing
buildings, the total investment
sum of EUROPA-CENTER at
the Adlershof site amounts to
100 million euros.
The EUROPA-CENTER board
invited to the construction site
festival of the two new buildings
a few weeks ago.

Page 15 T O M
NEWS June 2018
TdI Berlin: German ministers announce close
cooperation with real estate industry
Peter Altmaier would support the special depreciation for energy-efficient building renovation
After a new record number
of registrations, around 1,900
guests attended the Real Estate
Industry Day of the ZIA
(Central Real Estate Committee),
the central association
of the real estate industry, in
Berlin.
Speakers included Federal Environment
Minister Svenja
Schulze, Federal Economics
Minister Peter Altmaier and EU
Budget Commissioner Günther
Oettinger. Federal Minister of
Building Horst Seehofer had to
cancel at short notice and was
represented by Gunther Adler,
State Secretary in the Federal
Ministry of the Interior, for
Building and Home.
Federal Environment Minister
German Economics Minister Peter Altmaier was also one of the
speakers at the German Real Estate Industry Day in Berlin.
Photo: ZIA, Norbert Weidemann
Schulze announced close cooperation
with the real estate
industry despite the move of the
building department to the Ministry
of the Interior. Particular
attention was paid to the existing
building stock, which has
the greatest potential for energy
savings. There she wants to provide
appropriate incentives.
Federal Minister of Economics
Altmaier also offered a close
dialogue with the real estate
industry. He reaffirmed the decision
to maintain the existing
requirements of the EnEV in the
future and not to tighten them
any further. He also announced
that he would support the special
depreciation for energy-efficient
building renovation.
Swiss Mint Architecture has
redesigned the INSIDE
Elaborate revitalization of the shopping center near Zurich
As part of its strategic realignment,
Mint Architecture
has redesigned the INSIDE
shopping center near Zurich.
The specialist for commercial
architecture conceives and
implements a usage and design
concept as well as a new
gastronomic world.
INSIDE was founded in 2014
as a boutique shopping centre
in the immediate vicinity of
large specialist stores and wellknown
major distributors. As
part of a comprehensive revitalization
project, the shopping
center now wants to emphasize
its market positioning more
strongly and commissions Mint
Architecture as its architecture
partner.
The commercial architecture
specialists, who have published
their own study on the future
of Swiss shopping centres and
are involved in various revitalisation
projects, are developing
the new use and design concept
with a view to economic efficiency
and overall staging. This
includes a consistent staging of
the centre and mall, the creation
of new meeting and interaction
zones, the new concept for the
gastronomic world as well as
measures regarding the use of
space and the tenant mix.
The Swiss Center INSIDE is consciously aimed at the female target
group.
Photo: Mint Architecture
IPH to manage
two centers in
Hamburg
IPH Centermanagement GmbH
has been mandated to manage
two centers in Hamburg: Gänsemarkt
Passage and Hamburger
Hof. In total, the mandates cover
12,300 square metres of retail
and catering space. The owner
representative of both properties
is MEAG, asset manager of Munich
Re and ERGO. „The properties
are two smaller shopping
arcades that have been well anchored
in their surroundings for
decades. Both centres also benefit
from their very central location
near the Binnenalster,“ says
Simone Bischoff, the responsible
Centre Manager of IPH Centre
Management.
Real I.S. launches
new European
special fund
Real I.S. has started the placement
of the new open real estate
special AIF BGV VIII Europe.
The company is thus continuing
its successful „Bayerische Grundvermögen“
(BGV) fund series.
The initial target volume of the
diversified special AIF is around
one billion euros.

Page 17 T O M
BEST PRACTICE June 2018
McArthurGlen Provence wins
Development Award
Award at the CNCC Shopping Center Awards 2018
McArthurGlen Provence has
won the trophy „Best Outlet
Development“ at the CNCC
Shopping Center Awards 2018
in Paris.
This is the third award the
new centre near Marseille and
The Prelios-managed inner-city
shopping center in
Constance wins the German
Brand Award in the category
„Trade, Retail and e-Commerce.
Aix-en-Provence has received in
the past two months. At the recent
Prix de Versailles Architecture
Awards and a New Development
Award, the company received a
global exterior design award, the
European Awards of the International
Council of Shopping Centers
The LAGO Shopping Center,
which is managed by Prelios
Immobilien Management and
belongs to Union Investment‘s
open-ended real estate fund
„UniImmo: Global“, has again
won the German Brand Award
in the category „Trade, Retail
and e-Commerce“ in 2018. The
popular inner-city shopping
centre won the German Brand
Award in 2016 and 2017. The
LAGO Shopping Center in
Constance comprises around
27,500 sqm of rental space
in around 70 shops on three
floors and around 1,000 parking
spaces.
Peter Herrmann, Head of Center
Management at Prelios Immobilien
Management, comments:
„We are very pleased about the
renewed award by the German
Brand Institute. The German
Brand Award 2018 proves the
2018, and the CNCC jury awarded
McArthurGlen Provence for
„the creation of 650 new jobs in
a region severely affected by unemployment,
a comprehensive
local training programme and the
attraction of a strong international
tourist clientele“.
At the CNCC Shopping Center Awards 2018 the McArthurGlen-Outlet Provence won a development
prize.
Photo: McArthurGlen Group
More awards for the LAGO
German Brand Award in the category „Trade, Retail and e-Commerce
Once again awarded: the LAGO in Constance.
Photo: Union Investment
high quality of our brand and
center management and shows
that it pays to focus consistently
on the satisfaction and needs of
tenants and visitors“.
HAHN and EHI
surveyed suppliers
for food and
drugstore trade
The Hahn Group has published
the results of a survey of consumer
goods suppliers for the
food and drugstore retail sector,
which it conducted in cooperation
with the EHI Retail Institute
in the spring. Most of the
respondents were sales managers
and category managers in
the branded goods industry with
the aim of gaining new insights
into their sales strategies. In particular,
the strategic importance
of the stationary retail trade as a
sales channel and the influences
of digitisation were questioned.
The experts were asked about
important aspects of the stationary
retail trade. 94.7 percent of
the experts surveyed are of the
opinion that stationary shopping
has a high social component.
It is also quite clear that consumers
will continue to largely
buy fresh food stationary in the
future. This is the opinion of
89.5 percent of those surveyed.
Around 79 percent of the manufacturers
surveyed suspect that
city dwellers are more likely to
trade food and drugstore articles
online than consumers living in
rural areas.
Kö-Bogen Düsseldorf
receives
German Brand
Award
At the presentation of the „German
Brand Award 2018“ in the
German Historical Museum in
Berlin, the Kö-Bogen was honoured
with the highest award
in the category „Public Affairs,
City and State“. In the competition
for one of the largest
German brand awards, the Düsseldorf
project convinced the
top-class jury of experts with its
brand competence and prevailed
against numerous competitors
in the „Industry Excellence in
Branding“ competition class.
Initiated by the German Design
Council, the German Brand
Award is regarded as a unique
tribute to Germany‘s most successful
brands and brand makers.
In 2018, more than 1250
nominated companies took part
in the competition in the various
classes.

Page 18 T O M
GUEST CONTRIBUTION June 2018
Implementation of digitization:
„Too late, too little!“
Guest article by Katharina von Schacky, Head of Real Estate Markets Shopping at Commerz Real
In the German retail sector,
fear is on the move - fear of
digitisation. Online sales machines
such as Amazon or
Zalando are blamed for the
disappearance of numerous
stationary shops and the impending
desertification of inner
cities and their shopping
streets. A recently published
study by the IFH found that
Amazon customers ordered
an average of 41 articles from
the online giant in 2017 - twice
as many as five years ago. The
company is already considered
to play a dominant role in
the market. But aren‘t we making
it too easy on ourselves?
Katharina
von Schacky,
Head of Real
Estate Markets
Shopping
at Commerz
Real
It is true that the pressure on the
stationary trade is growing. But
it is also true that Amazon & Co.
catalysts for an already present
trend are: an ever-increasing focus
on the wishes and needs of
customers. Online retailers have
only done the homework of stationary
retailers.
Recognize the
signs of the times
and use them
When Amazon was founded 23
years ago in a garage in Seattle,
the company‘s recipe for
success was to correctly recognize
the signs of the times and
use them to its own advantage.
Even then, other retailers could
have done the same as today‘s
global corporation, but they
have never considered it necessary
to adapt their distribution
structures to the demands and
needs of customers. Although
the latter have been asking for a
faster and more convenient delivery
of goods for some time,
many retailers simply could not
or did not want to implement
this service. This is not the case
with Amazon, which today is
considered one of the most customer-oriented
companies in the
world and aggressively advertises
services designed to make
shopping even easier and more
convenient.
In addition, buying behavior on
the Internet differs fundamentally
from purchasing in traditional
retail, which can be useful
for the sale of certain product
groups. Customers ordering
toys or books on the Internet,
for example, attach more importance
to fast, uncomplicated
delivery and the evaluations of
other customers than to the possibility
of holding the product in
their hands before purchasing.
For this reason, these product
groups are still ideal for online
marketplaces today.
On the other hand, there are also
many products that customers
want to perceive haptically, examine
and try out before buying.
Food is one such example, fashion
is another. Especially in
Germany, the majority of customers
still buy food in stationary
shops.
The reason for this is above all
the deep-seated habit of the consumers
to buy things of the daily
need spontaneously without big
planning, in addition, the missing
possibility of checking the
freshness of the products before
the purchase. According to a
study by EY, only half of every
70 respondents (1.4 percent)
bought at least half of their food
online last year. On the other
hand, online platforms do compete
with the classic fashion
trade. Although online sales of
clothing have increased, many
retailers find ways, for example
via Click & Collect, to link their
online activities with offline activities
and thus make shopping
in the shop attractive for customers
or to use Click & Collect
to generate significant additional
business through collection
in the shop.
The fact that it can be worthwhile
to do one‘s digital homework
is currently particularly evident
in the cosmetics industry. Digital
innovations already have a clear
sales-promoting effect there. In
a branch of the trendy London
brand Charlotte Tilbury‘s, for
example, a customer can sit in
front of a screen that transfers a
wide variety of make-up looks
onto his own real face. Augmented
Reality - a reality extended
with the help of computers - is
the name of this digital trend.
If the customer likes one of the
make-ups, he can not only have
the „mirror image“ generated on
the computer sent to him immediately
by e-mail, but also receives
an exact list of the products
required for reapplication.
retailers and shopping
center operators
should work
together
In order to continue to improve
service in the future, it is
important that retailers and
shopping center operators in
particular work even more closely
together. If retailers were
to make their systems and thus
the availability of goods visible
to operators, the latter would be
better able to bring the range of
goods on offer into line with the
digital concept of the centre and
test new marketing possibilities.
Ultimately, the same thing is
important to us all: customer satisfaction.
Customers who want
to browse in stationary shops
as well as make use of digital
services. That‘s why we need
to take advantage of digitization
and, as landlords, work with
retailers to better meet customers‘
needs. A shop is ideally a
showroom, a warehouse and an
experience - these should be our
cornerstones.

Page 20 T O M
PARTICULARS June 2018
Dr. Andreas
Mattner elected
ZIA President
for another
three years
The General Assembly of the
ZIA also met as part of the
Real Estate Industry Day.
Among other things, the executive
committee of the association
was elected for three years.
The Board of the ZIA is also appointed
from these ranks. Dr. Andreas
Mattner was unanimously
confirmed by the general meeting
as ZIA president for another
three years, Jan Bettink remains
treasurer. Rolf Buch, Ulrich Höller,
Dr. Jochen Keysberg, Jochen
Schenk, Bärbel Schomberg and
Thomas Zinnöcker were also
re-elected as Vice Presidents. In
addition to the 9 members of the
Executive Board, 44 representatives
of the industry also serve
on the Executive Committee.
Dr. Andreas Mattner
Dr Michael Peterseim , Sean Hill
KaDeWe Group has
restructured its
management board
Roland Armbruster leaves the company
Roland Armbruster, CFO/
COO leaves the KaDeWe
Group at his own request after
more than four years to
take on new professional challenges.
Dr. Michael Peterseim
has been appointed as the new
CFO/Managing Director.
In this function he is responsible
for Finance & Controlling, IT
& Logistics, Legal & Internal
Audit. His senior management
career has included positions at
Roland Berger, Thomas Cook,
Clinton and QE3 Equity Partner.
Sean Hill, currently Managing
Director for Expansion and Development,
will assume the position
of COO in addition to his
duties. In this function he takes
over the direct management of
the three houses. With this step,
Retail Development and Retail
Operations will be merged into
a single area of responsibility.
The Executive Board consists
of André Maeder (CEO), Dr.
Michael Peterseim (CFO), Sean
Hill (COO), Simone Heift (Buying
Director), Petra Fladenhofer
(Brand & Marketing Director)
and Michael Grandin (Finance
& Controlling Director).
Patrick Delcol
new Head of
Pan-European
Retail at BNP
Paribas
With the appointment of Patrick
Delcol (53) as Head of
Pan-European Retail at the beginning
of July, BNP Paribas
Real Estate has strengthened
the company‘s International
Investment Group (IIG) under
the leadership of Larry Young.
Delcol joined BNP Paribas Real
Estate in 2013 and led a strong
and successful team as CEO
for Central and Eastern Europe
(CEE). He has more than 27 years
of experience in the real estate
industry (especially in the retail
segment). He is a graduate of the
Solvay School of Economics and
Management at the Université
Libre de Bruxelles and one of the
founders and president of the Polish
Council of Shopping Centers.
Patrick Delcol
Hartmut Bulwien
resigns from
Supervisory
Board position
Hartmut Bulwien, 73, is leaving
the Supervisory Board of bulwiengesa
AG after twelve years,
nine of them as Chairman. Bernhard
H. Hansen, CEO of the SSN
Group in Germany, was elected
as the new Chairman of the Supervisory
Board. Bernhard Hansen
has been Deputy Chairman
of the Supervisory Board for
six years and exercises control
functions of the owner-managed,
independent analysis company.
At the Annual General Meeting,
Hartmut Bulwien, who continues
to be an active company founder,
was appointed Honorary Chairman
of the Supervisory Board.
Women Summit: Dr. Gabriele Volz
honoured as Manager of the Year
At the Real Estate Women
Summit in Berlin, the exclusive
network and communication
platform for leading women in
the real estate industry, the Manager
of the Year was awarded.
The title went to Dr. Gabriele
Volz, Managing Director of
WealthCap Member of UniCredit.
The banker and graduate in
business administration (FH)
with a focus on finance, banking
and investment management
has been Managing Director
of Wealth Management Capital
Holding GmbH and Managing
Director of WealthCap Kapitalverwaltungsgesellschaft
mbH,
founded in 2013, since 2009. In
Dr. Gabriele Volz
both companies she is responsible
for investment and asset
management, product and portfolio
management as well as the
sale of alternative investment
funds.
„In the past ten years since her
appointment to the management
board of WealthCap, Gabriele
Volz has played a key role in
establishing and shaping one of
the largest and most successful
German investment management
companies,“ said Paul
Jörg Feldhoff, Managing Partner
Feldhoff & Cie. on behalf
of the jury. „With her unagitated
and unvarnished manner, she
has established herself as one
of the leading decision-makers
in our industry in this context.
From the jury‘s point of view,
she is a role model manager for
both female and male junior
staff“.