TOM 09 2025

T
TOPS
M
OF THE MONTH
TOMO
RETAIL REAL ESTATE
TOPS
OF THE
MONTH
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
THE HOTTEST DEALS +++
INTERVIEWS +++ STATEMENTS
+++ PARTICULARS +++
ANALYSES +++ PROJECTS
presented by HI-HEUTE.DE
September 2025
When it comes to visualizing forward-looking large-scale real estate projects, artificial intelligence achieves extremely realistic results, as
this image impressively demonstrates.
Visualization: Apleona / AI
AI in property management:
still plenty of room for improvement
Study by Apleona Real Estate and Rueckerconsult
Apleona Real Estate wants
to give asset managers more
freedom to focus on strategic
tasks. That is why the company
is consistently driving
forward digitalization—with
the aim of optimizing processes
and sustainably increasing
efficiency. In this context,
Apleona Real Estate has
just published the study “AI
in Property Management,”
which was developed in close
cooperation with the agency
RUECKERCONSULT. The
results clearly show that AI is
increasingly recognized as a
strategic tool for increasing efficiency,
addressing the shortage
of skilled workers, and
developing new services. At
the same time, it is clear that
the path to successful implementation
is challenging and
requires courage, expertise,
and a willingness to change.
The industry faces three key
challenges: 49 percent of respondents
cite the skilled labor
shortage as the biggest problem,
followed by inadequate data
(47 percent) and increasing regulatory
requirements (42 percent).
These factors are closely
linked: without high-quality,
structured data, AI cannot work
effectively, and without sufficiently
qualified personnel, AI
tools cannot be implemented or
maintained. The study emphasizes
that companies that manage
their data professionally and in
compliance with data protection
regulations not only work more
efficiently, but can also offer additional
services such as predictive
maintenance, ESG monitoring,
and transparent reporting.
Respondents see the greatest
potential for efficiency gains in
automated document management,
followed by workflow
and task automation and real
estate reporting. Currently, AI
applications are mainly used to
read and analyze documents,
such as service contracts or
rental agreements. Optimizing
energy consumption and reducing
CO2 emissions are also important
areas of application. The
finance and banking industry,
the automotive industry, and the
hotel industry are considered
role models for the use of AI, as
they are more advanced in terms
of digitalization.
Despite the recognized potential,
there are significant hurdles:
61 percent of respondents see
the lack of skilled workers for
implementation as the biggest
obstacle, followed by poor data
quality and a lack of openness to
innovation within the company.
Lack of compatibility with existing
IT systems and data protection
concerns also play a role.
The study concludes that digit
ization in property management
has only progressed moderately,
while progress in AI is rated
somewhat better. The experts‘
advice is: „Start pragmatically
with tangible use cases – not
with the vision.”
Small pilot projects, such as
automated invoice verification
or damage reports, can quickly
show success and serve as a
door opener for larger projects.
In the long term, the industry
will change: companies that integrate
AI into a holistic service
portfolio will gain talent, market
share, and economic success.
„PM and FM will be unthinkable
without AI applications in
the future,” predicts expert Prof.
Dr. Verena Rock.

Page 2 T O M
ANALYSES September 2025
Clear positive signals
for the retail investment market
BNP Paribas presented the latest market figures
Although the results of the
years prior to 2023 have not
yet been matched, the retail
investment market was able
to capitalize on the steadily
improving market sentiment
over the past twelve months
and achieve a good overall
performance in 2024. With a
total transaction volume of
around €6.3 billion, the weak
result of the previous year was
exceeded by almost 28 percent.
This is the result of an
analysis by BNP Paribas Real
Estate.
„Although the retail sector
lost its leading position among
property types over the course
of the year to logistics investments,
which totaled around
€6.9 billion, the retail sector still
achieved a good overall result in
2024.However, the retail sector
recorded by far the largest jump
in sales compared to the previous
year, which can be seen as
a clear indication of the positive
trend in this asset class,“
explains Christoph Scharf, Managing
Director of BNP Paribas
Real Estate GmbH and Head of
Retail Services.
In the fourth quarter, several
food-related package sales
were completed shortly before
the end of the year, driving up
the portfolio volume. In total,
around €1.2 billion flowed into
portfolios (19 percent share),
while individual sales amounted
to almost €5.2 billion (81 percent
share).
One factor that speaks for the
current broad and multifaceted
demand structure in the retail
investment segment is reflected
in the distribution of sales
across property types: Three out
of four retail sectors—the retail
park and food sector (33 percent
share), commercial buildings
and department store assets
(around 28 percent each)—account
for very large market
shares. In addition, shopping
centers also gained significant
market share in the second half
of the year (12 percent of the
total result), not least due to the
sale of Munich‘s Pasing Arcaden.
The Pasing Arcaden transaction,
which was co-advised
The Pasing Arcaden transaction in Munich is one of the largest shopping center asset deals of the past
ten years.
by BNP Paribas Real Estate,
is one of the largest shopping
center asset deals of the past ten
years.
In the top markets, retail investment
volume continues to
be closely linked to individual
large transactions in the tripledigit
million range. Accordingly,
only Munich (a good €1.5
billion) and Berlin (around
€1.3 billion) were able to generate
high volumes through the
Fünf Höfe, the Pasing Arcaden,
Maximilianstraße 12-14, and
the KaDeWe deal. Apart from
these sales drivers, smaller
commercial building and department
store deals as well as
food transactions are repeatedly
recorded in A cities, but these
have only a minor impact on
total sales. Overall, A locations
recorded their highest volume
since 2020, at around €3.4 billion
(up 257 percent compared
to 2023). Due to high demand,
net prime yields for retail parks
declined again for the first time
in the fourth quarter (4.65 percent,
down ten basis points). All
other property types remained
stable at the end of the year:
individual grocery stores remained
at 4.90 percent, shopping
centers at 5.60 percent, and DIY
stores at 5.70 percent.
The retail investment market
can look back on a good year
in 2024, in which the asset class
continued to outperform other
property types. The overall positive
developments in the past
year are likely to provide additional
momentum for the coming
twelve months. Looking at the
significant increase in volume,
it is particularly encouraging
that the result was achieved without
any major corporate acquisitions,
which usually drive up
sales significantly.
Instead, the retail investment
sector is currently benefiting
from a wide range of sales drivers.
The deals involving Pasing
Arcaden, Fünf Höfe, Maximilianstraße
12-14, KaDeWe, and
numerous food portfolios meant
that shopping center transactions
as well as high street and
food investments played a significant
role in the good overall
results. Accordingly, the highly
diversified product portfolio of
the retail division currently appears
to be an important competitive
advantage in an asset class
comparison, which retail investments
are increasingly able to
leverage.
According to BNP Paribas, the
positive trend that has been set
in motion must be confirmed in
2025. However, the conditions
for this must be right not only
on the demand side, but also on
the supply side. Although a few
deals were concluded shortly
before the end of the year, meaning
that only a few investment
opportunities were carried over
into the new year, there are initial
signs that the pipeline in the
supply segment is already filling
up again at the beginning of the
year. “Meanwhile, the trend in
prime yields confirms that price
adjustment processes are continuing
to lose momentum and
that stabilization trends are becoming
firmly established. For
the coming quarters, a slight decline
in prime yields is a realistic
scenario – retail parks have
already set the ball rolling,”
says Christoph Scharf.
T
TOPS
O M
OF THE MONTH
TOM
TOPS
OPS F THE ONTH
OF THE
RETAIL REAL ESTATE
Essential News About The Players In In
The Retail Real Property Estate Market In in Germany
IMPRINT
MONTH
Publisher:
Business News Group GmbH
Address:
Alexanderstraße 16
45130 Essen
Germany
Tel. 0049-201-874 55 28
Web: www.hi-heute.de
Mail: tom@hi-heute.de
Frequency of publication:
monthly
Circulation: approx. 5000 copies
sent by e-mail
Editorial team: Susanne Müller,
Thorsten Müller
Responsible in terms of press
law: Thorsten Müller
Layout: K4-PR, Essen
THE HOT
INTERVIE
+++ PART
ANALYSE
presente
March

Page 4 T O M
PROJECTS
September 2025
The future BitGalerie (working title)
Visualization commissioned by FACO
BitGalerie takes the next big step
Building application submitted for mixed-use project with city lodges
The building application for
the future-oriented building
complex comprising residential,
entertainment, and commercial
buildings (working
title: BitGalerie) has been
submitted to Mayor Joachim
Kandels. As the key future
parameters for the Bitburg
location remain positive, the
city and investor community
are continuing to work hand
in hand to revitalize Bitburg‘s
city center.
The architecture and mix of
uses were designed after the
pandemic to offer maximum
flexibility and fungibility – an
approach that will continue to
adapt to the changing needs of
urban society, operators, and
investors in the future. The concept
thus demonstrates how a
future-proof mix of uses creates
security for investments. „We
don‘t develop real estate for
floor plans, but for impact: more
encounters, more quality of life,
and measurable public value for
the neighborhood and the city,”
says Stefan Kutscheid (FACO
Immobilien). „With the BitGalerie,
we are creating a place
that can combine ecology, economy,
and social aspects – and
visibly strengthen Bitburg in the
growing Germany-Luxembourg
metropolitan region.” The lease
agreements that have been signed
confirm this statement.
The central element is the symbiosis
of the town square with
the BitGalerie‘s weather-protected
gastronomic city balconies
on the southwest-facing
façade. These „loggias above
the square” enable low-threshold
participation all year round
– from weekly markets to cultural
and sporting events to urban
open-air events. The desired
result: a piazza feeling in sheltered
loggias for visitors of all
ages. The commercial building
contains all the infrastructure
necessary for an event and offers
organizers a unique setting
without high set-up costs. Instead
of standing in line at street
food stalls – regional products
and high-quality gastronomic
service.
Developing social and sensory
urbanity and creating spaces for
more eye contact, encounters,
and ritual formats in everyday
life, revitalizing the city center
will dynamically boost the regional
attractiveness of Bitburg
and the Eifel district.
The outgoing mayor, Joachim
Kandels, has always been committed
to this major project. In
Bitburg, the successful public-private
partnership project
involving the town hall and
the Bitburger brand experience
world has already demonstrated
how joint networking can create
something special, even in medium-sized
towns.
Developing large, complex real
estate projects into structural
implementation requires a high
level of commitment and trusting
cooperation from all parties
involved. Only in this way can a
shared vision of the future become
reality.
Joachim Kandels: „The BitGalerie
is a building block for the
future of the city center: a market
hall, cinema, fitness center,
shops, city balconies, and comfortable
living spaces respond
collectively to what people
need today and tomorrow. In
this way, a building becomes a
source of inspiration—for the
city, its citizens, and the regional
economy.”
Preparatory demolition work is
already underway.

Page 5 T O M
TOP STATEMENT OF THE MONTH September 2025
TOP STATEMENT
September
„Gastronomy is a
driver of employment
and an expression
of our openness and
quality of life.”
Duesseldorf‘s mayor, Dr. Stephan
Keller, in an interview with HI
HEUTE/TOM for the digital magazine
“GastroSpaces”

Page 6 T O M
ANALYSES September 2025
Shopping centers in practice:
New ways to measure performance
Joint study by gif and the German Council of Shopping Places
How do you actually measure
the success of modern
shopping centers? gif and the
German Council of Shopping
Places (GCSP) addressed this
question and developed a completely
new evaluation model
in a joint study. The reason:
traditional approaches fall
short, compare apples with
oranges, and ignore the complexity
of modern centers. On
the one hand, shopping places
are central trading venues for
investors, operators, cities,
and tenants. On the other
hand, they are coming under
increasing pressure from online
shopping, new gastronomy
trends, and changing customer
preferences.
After an intensive selection process,
the two study partners gif
and GCSP commissioned Mainz
University of Applied Sciences
(HSM)/imtargis and GMA/PlaceSense
at the end of February
to work on the research project,
consisting of basic research,
model development, data collection
with real data from 14
centers, and recommendations.
The study, which was launched
in 2024, aims to finally provide
clarity. At its heart is a scoring
model with six main criteria,
ranging from location, market,
property, and footfall to yield
and building. Each of these
criteria is specifically weighted
and further subdivided – instead
of blanket assessments, there is
a detailed points scale.
For example, when it comes to
location, it is not only the number
of inhabitants that counts,
but also the quality of the micro-location
based on anonymized
movement data. The market
check examines the size of the
catchment area and the center‘s
share of it. Diversity in the product
range, vacancy rates, visitor
satisfaction, and even sustainability
are also included in the
model.
Prof. Dr. Verena Rock: „This study is a milestone for measuring shopping center performance: transparent,
scientifically sound, holistic, and thus an important signal for all stakeholders in this asset class.”
Tenant satisfaction was based
on center surveys and the results
of the tenant survey from
ecostra‘s Shopping Center Performance
Report 2024 and stan-
dardized on a scale of 0 to 100.
Innovative: Ten shopping centers
across Germany were put
through their paces with partly
sensitive real data, including
well-known investors and operators
such as Deka, Union Investment,
and ECE.
The evaluation was carried out
by gif and Mainz University
of Applied Sciences as neutral
authorities. Feedback was sent
directly back to the center –
benchmarking included.
Conclusion: The new evaluation
model from gif and GCSP finally
puts the focus on practice. It
brings transparency to an industry
full of contrasts and ensures
that everyone can work with the
Photo: gif
same standards in the future.
After a successful test run, it is
set to be rolled out in 2026 – a
real milestone for the retail real
estate industry.
INFO
Owners and investors can already
register for data collection at
the following address: info@
center-performance.de

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Page 8 T O M
GUEST CONTRIBUTION September 2025
Local suppliers –
we talk about location and size
Guest contribution by Dr. Roland Schmidt-Bleker (Taylor Wessing)
Anyone walking through
German cities and towns today
will quickly notice that
the classic “local supplier” of
yesterday looks different from
the modern grocery stores of
today. Markets that still managed
with 600 to 800 m² of
retail space in the 1990s have
long since grown to sizes of
1,000 to 1,500 m², and in some
cases even significantly more.
This is not an expression of the
operators‘ “growth fantasy,”
but simply a consequence of
changed conditions: accessibility,
expanded product ranges,
wider aisles, modern checkout
and logistics concepts. The additional
requirements for movement
areas alone regularly
add up to several hundred
square meters.
Size as the norm,
not the exception
While § 11 (3) BauNVO (German
Federal Building Code)
has marked the threshold of 800
square meters as “large-scale”
for decades, this limit has
long been exceeded in reality.
Around 80 percent of newly built
or modernized stores today
exceed this mark. This means
that almost all projects are automatically
subject to the complex
review and control mechanisms
of the BauNVO and state development
plans – resulting in
lengthy procedures and, not infrequently,
legal disputes. For
municipalities, this means that
they lose control autonomy, as
approval decisions are regularly
elevated to the level of district
governments or state planning.
Dr. Roland Schmidt-Bleker, specialist lawyer for administrative law,
is a partner at Taylor Wessing Germany. Photo: Taylor Wessing
At least as important as size is
the question of location. Traditionally,
the regulatory logic
of center protection aimed to
bundle retail trade with centerrelevant
product ranges in the
core. Local supply was to be reserved
for city centers and town
centers. The social reality is
different: only a fraction of the
population lives in these central
locations. The majority live in
densely populated residential
areas outside the centers – where
two-thirds of all local supply
markets are located today. Modern
concepts are integrated
into urban development, but not
in the center: they are directly
adjacent to residential areas, can
be reached on foot or by bike,
and thus make a decisive contribution
to everyday supply.
Legal framework
under pressure
This development is putting
pressure on the existing planning
law framework. The presumption
rule in Section 11 (3)
of the German Federal Building
Code (BauNVO), which automatically
assumes that developments
with a floor area of 1,200
square meters or more and a
sales area of 800 square meters
or more have an impact on regional
planning, is no longer in
line with market sizes. In many
states, regional development
plans are also based on a logic
that describes the exception rather
than the rule. Special areas
for food markets outside city
centers are only permitted under
strict conditions.
Practice shows that these conditions
are not only difficult to
verify, but also create considerable
legal uncertainty and bureaucracy.
Expert opinions, evidence,
and lengthy coordination
processes slow down municipalities
and investors alike.
A consensus is emerging both
technically and politically: we
need a more realistic regulatory
framework. First, this includes
adjusting the size categories to
today‘s spatial realities. Markets
with 1,200 to 1,500 square
meters should no longer be
automatically considered “problematic,”
but rather as standard
for the market.
What is needed
Secondly, the location criteria
need to be reassessed: protecting
city centers remains important,
but must not lead to a blockade
of local supply. The decisive
factor is urban integration
– i.e., integration into existing
neighborhoods and guaranteed
accessibility for the population.
Thirdly, the planning authority
of municipalities should be
strengthened. Clearly defined,
practical criteria help municipalities
to make decisions more
quickly and with legal certainty,
without getting bogged down in
detailed exception checks.
Looking ahead
The discussion about the reform
of Section 11 (3) of the
German Federal Building Code
(BauNVO) and the adjustment
of state development plans is
not an end in itself. The question
is how we can ensure comprehensive,
modern local supply
– especially in times of demographic
change, rising mobility
costs, and growing demands for
accessibility. Local suppliers
are infrastructure. They shape
local life far more than any
formal definition of “large-scale”
would suggest. Recognizing
this reality paves the way
for more pragmatic, faster, and
more citizen-oriented planning
procedures.
The industry, local authorities,
and politicians share responsibility
in this regard. Location and
size are not opposites, but two
sides of the same coin. Modern
local supply needs both – sufficient
space and the right urban
integration. Only in this way
can it remain what it is at its
core: supplying people where
they live.

Page 10 T O M
INTERVIEW September 2025
„We are interested in anything
that brings us closer to our customers”
Interview with Jan Riemann, Head of Real Estate at ALDI SÜD
ALDI SÜD continues to focus
on optimizing its store
network. Jan Riemann, who
is responsible for real estate
development at the company,
revealed what is particularly
important here and what the
implementation looks like in
terms of quantity and quality
in an interview with TOM editor-in-chief
Thorsten Müller.
TOM: How has the financial
year been so far from your
perspective? What were your
main focuses and most exciting
projects
Jan Riemann: Our construction
projects are continuing to
make progress.
Our mixed-use developments in
Nuremberg and Landau in the
Palatinate have been completed,
and we celebrated the toppingout
ceremony in Frankfurt am
Main. At the same time, the revitalization
of our retail park in
Kenn near Trier has begun, and
we are continuing to test new
models for branch construction.
Saving time and resources is a
priority – not only in new construction,
but also in the renovation
of existing locations.
Jan Riemann has been responsible for real estate at ALDI SÜD for
many years.
Photo: ALDI SÜD
TOM: Digitalization and the
use of AI have also made significant
progress in the food industry.
Tell us in which areas
this is currently happening
most prominently.
Jan Riemann: Digitalization
and AI applications are helping
us in two areas in particular in
the further development of our
store network. The first is the
awarding of construction contracts.
For years, we have been
using an online platform that
helps us to better compare and
challenge bids. This tool has
played a major role in helping
us to beat the construction cost
index by around five percent
in recent years. In addition, digitalization
and AI are playing
an increasingly important role
in the evaluation of our existing
and potential new branch locations.
Appropriate tools help us
to examine different development
scenarios and make more
accurate predictions about the
expected development of local
environments. This helps us to
achieve our goal of being close
to our customers in the long
term.
TOM: When you decide on
a new location today, aren‘t
there many more formats and
combinations to consider than
there were about five years
ago? What is interesting and
relevant for you in this regard?
Jan Riemann: We are interested
in anything that brings us
closer to our customers. On the
one hand, it‘s about the spatial
dimension. In cities and metropolitan
areas, we are the pantry
next door – always easy and
quick to reach. For us, proximity
also means compatibility with
everyday routines. People who
can run other errands locally in
addition to shopping save time
and resources. Additional uses
such as housing, daycare centers,
restaurants, and more make
everyday life easier, which increases
their long-term appeal.
We now have a proven repertoire
of diverse location concepts
for developing sites with
local relevance. The spectrum
ranges from space-saving models
for city centers to contemporary
freestanding buildings
with location partners in rural
areas to mixed-use developments
and retail parks. With this
toolbox, we build retail properties
that reliably serve their surroundings
and strengthen local
infrastructure.
TOM: Will you be working
even more closely with your
sister company ALDI NORD
in the future?
Jan Riemann: We have close
ties with ALDI Nord and work
closely together in many areas.
These include purchasing, marketing,
private label design, and
quality assurance. Even though
we are not structurally linked,
we exchange ideas closely with
our colleagues in Essen in the
areas of real estate and store network
development.
On this basis, we recently developed
a joint building specification
for new store construction.
Externally, the recognizability
of ALDI Nord and ALDI SÜD
will remain unchanged. Both
brands will also continue to operate
with their own store concepts
in their respective sales
areas. However, a uniform construction
standard using timber
frame construction will apply to
the basic structure in the future.
This brings us a number of advantages.
The manufacture of
building products from wood
saves resources and requires far
less energy than the production
of other building materials such
as bricks, steel, or cement. Prefabricated
wooden components
also simplify the work and
save time during the construction
phase. Wood is a natural
building material that radiates
warmth. It creates a pleasant indoor
climate and helps regulate
the moisture content in the air.
Even though we are two different
companies, we are sending
a joint signal for greater efficiency
and cost awareness.
TOM: What are your expectations
for the coming
year? What could and should
change? What makes you confident
that you will be able to
successfully achieve the goals
you have already set?
Jan Riemann: The past few
years have shown that we can
optimize our branch network in
different ways. Our mixed-use
strategy is beginning to bear
fruit. We have already been able
to open several new branch locations
in attractive locations
with various partners. Further
new project ideas, among other
things, are in preparation
or already under construction.
In Mannheim, we are building
a new branch above which a
student residence is being constructed.
Near Stuttgart, we are
building three branches with
daycare centers on top.
These advances show that even
under difficult conditions, we
are able to develop new retail
locations through good, trusting
cooperation. I am also optimistic
because there is movement in
construction at the political level:
We believe that the measures
adopted by the German cabinet
to speed up planning, known
as the ‘housing construction turbo’,
are very promising. They
now need to be implemented
at the local level and extended
to mixed-use buildings so that
more of these types of buildings
can be constructed in our cities.

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Page 12 T O M
INTERVIEW September 2025
„The introduction of AI
must be pragmatic and prudent”
Interview with Yardi Regional Manager Dennis Kasch
The software company Yardi
has been a popular exhibitor at
EXPO for years. Once again,
a number of experts will be on
hand to provide information
on the latest developments
in the PropTech sector. Its
clientele also includes a large
number of companies in the
commercial real estate industry.
HI HEUTE editor-in-chief
Thorsten Müller spoke with
Dennis Kasch, Regional Sales
Manager for Germany, Austria,
and Switzerland, about
the current market situation,
changes, new trends, and his
assessments and expectations.
TOM: How does Yardi differentiate
itself from other real
estate technology providers in
today’s competitive market?
Dennis Kasch: Yardi distinguishes
itself from competitors
through its commitment to delivering
a fully integrated, end-toend
platform that encompasses
every aspect of real estate operations.
This approach ensures
that critical processes, ranging
from marketing and leasing to
operations, financial management
and compliance, are seamlessly
connected within a single
system. By unifying these functions,
we can enhance efficiency
and provide clients with real-time
data visibility, empowering
them to make informed, datadriven
decisions.
A further key differentiator
is scalability. Our platform is
designed to serve real estate
businesses of all sizes and asset
types. Whether managing
commercial assets or residential
portfolios, or a combination
of both, our software includes
solutions to meet each client‘s
specific needs. With a global
reach, Yardi supports real estate
operations across multiple
geographies, ensuring localised
solutions that adhere to regulatory
requirements and market
conditions. Through a focus on
continuous innovation, we have
remained at the forefront of real
estate technology for over four
decades.
TOM: You have mentioned
that Yardi offers solutions for
Dennis Kasch, Regional Manager at Yardi. Photo: Yardi
various real estate sectors,
such as residential, commercial
and industrial. How do
you ensure your platform remains
adaptable to these different
markets?
Dennis Kasch: Yardi’s ability
to serve a wide range of real
estate sectors is driven by our
unwavering commitment to research
and development. We
invest significantly in understanding
the unique needs, trends
and regulatory requirements
of each market – whether it is
commercial, retail, industrial or
coworking and flex spaces. This
focus allows us to continuously
evolve our platform, ensuring it
remains adaptable and relevant
across diverse real estate operations.
We work closely with our clients
and host user groups. This
helps us to ensure our products
incorporate regional regulations
and compliance that meet
our client’s specific needs. In
addition, we conducted an industry
survey to gain deeper insights
into property technology
adoption across the European
real estate sector. The findings
revealed that 67.2% of participants
sought enhanced insights
into asset and facility management,
while 49.3% expressed a
need for property technology to
better manage market data.
By leveraging this data through
our R&D efforts, we can ensure
our platform remains not only
adaptable to current market demands
but also scalable for future
growth, keeping our clients
at the forefront of technological
advancement.
TOM: On the surface at least,
AI seems to be playing an increasingly
important role in
the delivery of digital solutions.
Is this the case, or are
AI providers being a little too
euphoric?
Dennis Kasch: AI holds tremendous
potential, but it’s essential
to approach its adoption
with a measured and pragmatic
mindset. Our survey shows that
there is still hesitation in adopting
AI, however, excitement
around AI’s possibilities continues
to grow.
At Yardi, we acknowledge this
enthusiasm but focus on demonstrating
how AI can provide
tangible, real-world benefits
for real estate professionals.
It‘s about developing practical
solutions that address genuine
challenges, such as enhancing
tenant engagement, improving
operational efficiency and enabling
data-driven decision-making.
For example, we have Yardi
Virtuoso and RentCafe Chat IQ
– Virtuoso was announced last
year and is our own AI assistant
in Voyager 8. Virtuoso Assistant
enables clients to ask Voyager
for help with data in their Voyager
database so they can find the
information they need faster. In
addition, RentCafe Chat IQ is a
smart bot that can chat, email,
text, and call prospects and residents,
improving the customer
experience and freeing up teams
to focus on high-priority tasks.
While AI can streamline processes,
improve accuracy and
offer valuable insights through
machine learning and predictive
analytics, it is not a one-size-fits-all
solution. There is
certainly some market euphoria
surrounding AI, but we believe
that when applied thoughtfully
and strategically to specific use
cases, AI can have a profound
impact.
TOM: What are your business
plans and goals for the near
future?
Dennis Kasch: Yardi is celebrating
its 40th anniversary
in 2024, and we are excited to
continue driving innovation in
real estate technology. As mentioned,
a key initiative is the
launch of Yardi Virtuoso, an
AI-driven platform designed to
transform property management
and accounting.
The Virtuoso AI Assistant will
enable real-time interaction
with Voyager, allowing users
to generate reports, query data
and gain insights. We also plan
to expand this technology with
a mobile app, which will help
integrate AI-powered tools into
daily workflows for increased
productivity. This initiative is
part of our broader strategy to
deliver end-to-end solutions
that address the evolving needs
of the real estate industry.
Our focus on AI innovation ensures
that we can continue to
meet today‘s needs while anticipating
opportunities of tomorrow.

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Page 14 T O M
MAP OF THE MONTH September 2025
Baby Boomers and Generation Z, Europe 2024
The Geomarketing Map of the Month shows the regional
distribution of Baby Boomers (aged 60 and
older) and Generation Z (under 28) in 2024 across
37 European countries. As Baby Boomers exit the
workforce and Gen Z enters it, earning income and
forming households, a generational divide emerges
that will significantly influence retail trends. Across
Europe, the highest proportion of Generation Z is
found in and around Aarhus, Denmark, where individuals
under 28 make up 26.1 percent of the total
population. In contrast, the highest share of Baby
Boomers is in the central Greek region of Evrytania,
where 54.0 percent of residents are aged 60
and older.

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