Deutsche GRI. 8-9 M a y. visions and illusions visionen und illusionen

Transkript

1 Deutsche GRI F r a n k f u r t 8-9 M a y visions and illusions visionen und illusionen

2 DIC Deutsche Immobilien Chancen AG & Co. KGaA was founded in Frankfurt in 1998 and focuses its attention on the Commercial Real Estate Market in Germany. Its business activities include Portfolio and Asset Management, Project Development and Opportunistic Investments. Prof. Dr. Gerhard Schmidt Vorsitzender des Aufsichtsrates/ Chairman of the Supervisory Board Ulrich Höller FRICS Vorsitzender des Vorstands/CEO Markus Koch Vorstand Finanzen & Controlling/CFO Portfolio and Asset Management DIC s Portfolio Strategy is mainly concentrated on properties with firstclass tenants at attractive locations in secondary cities. A high level of risk diversification is achieved by a balanced mix of industry sectors and tenants as well as a detailed analysis of macro and micro environments. Anti-cyclical investments in selected top-of-the-market locations refine the strategy. Development With more than 25 years experience in the development and management of complex real estate projects, DIC has gained great expertise in the entire business process. Services range from the initial planning of turnkey completion to the full marketing range for the properties. Ulrich Höller FRICS DIC Deutsche Immobilien Chancen AG & Co. KGaA Grünhof Eschersheimer Landstraße Frankfurt am Main Tel Fax info@dic-ag.de Opportunistic Investments DIC exploits opportunistic businesses by acquiring real estate portfolios from large international corporations in co-operation with its business partners. Other opportunistic business openings are utilized as well. Joint Ventures In particular in the field of opportunistic investments, DIC works closely with international partners. Further partnerships exist with several insurance companies. Real Estate Holdings and Developments The real estate assets managed by the DIC Real Estate Group currently amount to over EUR 1 billion. They include, for example, the Degussa Areal in the city center of Frankfurt, the MEAG-Portfolio with more than 45 assets, a portfolio of Frankfurter Sparkasse with more than 50 properties, a portfolio of properties let to tenants as ebay, Telekom, Siemens and others. DIC s shareholders include investment companies (such as Thurn und Taxis ), institutional investors (for example Morgan Stanley Real Estate Fund) and private investors with a family background in industry. W

3 WELCOME Keine Vorträge, kein Podium Kein Publikum Es gibt nur Sprecher Jeder ist gefragt No speeches. No panels No audience Plenty of speakers You. Everybody Herzlich willkommen bei der Deutsche GRI Mit der Expertise und langjährigen Erfahrung vieler heute hier Anwesender ist es gelungen, ein Programm zusammenzustellen, welches die wichtigen und aktuellen Real Estate Themen in Deutschland zur Diskussion stellt. Ihnen allen gilt unser Dank. Falls Sie eine eigene Diskussionsrunde bei einer unserer kommenden Veranstaltungen führen möchten, würden wir uns freuen, wenn Sie uns einfach ansprechen. Für heute und morgen gilt jedoch nur eines: Mischen Sie sich ein. Diskutieren Sie, fragen Sie, kommentieren Sie. Hier dreht sich alles um Ihre Meinung. Dies ist Ihre Veranstaltung! Wir wünschen Ihnen eine spannende Deutsche GRI Welcome to the Deutsche GRI This GRI was created by many present here today who have contributed front-line expertise, intellectual brilliance and financial resources to reach out to fellow leading lights and create a programme to discuss today s issues. We can t thank them enough. If chairing a discussion at a future GRI event can be useful to you, we welcome hearing from you. In the meantime, please join the fray and engage in the discussions as if this was about you, your business, your opportunities. Because it is. We wish you a great GRI. Thanks for being with us. ELCOME WILLKOMMEN Ronny Gotthardt Director, Germany & Central Eastern Europe GRI - Global Real Estate Institute Henri Alster President, American European Investment Bankers, Inc. Chairman, GRI - Global Real Estate Institute. ONGOING UPDATES AT All material throughout this program is subject to change without notice.

4 Harin Thaker Charles Balch Frank Lamby Gerhard Meitinger Hypo Real Estate Bank International Hypo Real Estate Bank International is one of Europe s leading international real estate lending institutions and has a network presence in all major markets including London, Paris, Munich, New York, Hong Kong and Tokyo. We are a provider of debt financing solutions ranging from senior investment and development loans to structured finance, Mezzanine and Bridge loans. We offer a wide range of capabilities including syndication and securitisation and dedicated real estate investment banking expertise. We endeavour to support our customers through the arrangement, origination and provision of debt finance for property, portfolio or corporate acquisitions of companies rich in property assets, including public-to-private takeovers, sale and leaseback arrangements and Propco/Opco structures. Hypo Real Estate Bank International is breaking new ground in international financing with our strong focus on cross border business development of new and innovative financing solutions and expansion into new geographical markets. Hypo Real Estate Bank AG Die Hypo Real Estate Bank ist als eine der größten Immobilienbanken das Kompetenzzentrum der Hypo Real Estate Group für den deutschen Markt. Für professionelle gewerbliche Immobilienmarktteilnehmer bieten wir das gesamte Spektrum des modernen Immobilienbankings. Unsere Kompetenz bei der Realisierung großvolumiger Transaktionen basiert auf einer schlanken Organisation, auf kurzen Entscheidungswegen und fundiertem Immobilien- Know-how. Hypo Real Estate Bank AG, as one of the largest commercial real estate banks, is Hypo Real Estate Group s centre of competence for commercial real estate business in the German market. We offer the complete spectrum of services you would expect of a modern real estate bank. Our competence in executing large volume transactions is based on our lean and efficient structure, together with short decision paths and in-depth knowledge of the commercial real estate business. Harin Thaker CEO Europe Tel: harin.thaker@hypointernational.com Charles Balch Head of Structured Finance & Investment Banking Tel: charles.balch@hypointernational.com Frank Lamby Sprecher des Vorstands / CEO Tel: frank.lamby@hyporealestate.de Gerhard Meitinger Managing Director Structured Finance Tel: gerhard.meitinger@hyporealestate.de

5 TIMETABLE Montag, 8. Mai 12h00 Check-in 14h00 19h00 19h00 20h00 Deutsche GRI Program Cocktail Reception 20h00 22h30 Private GRI Board Dinner (reserved for GRI Board, Deutsche GRI Sponsors & Chairs) Dienstag, 9. Mai 08h30 16h00 16h00 17h30 Deutsche GRI Program Closing drinks All material throughout this program is subject to change without notice...der Ort, an dem Geschäft und Vergnügen zusammenführen...

6 Monday 8 May SALON 12 SALON 11 FESTSAAL Floorplan SALON 10 SALON 5 SALON 4 SALON 3 SALON 2 SALON 1 14h00-15h15 16h00-17h15 17h45-19h00 SECURITISATION IN REAL ESTATE do clients and banks pull different ends? REAL ESTATE SWAP neuer weg zur portfolio-diversifizierung? GERMAN INVESTORS IN THE US is the grass greener? SALON 1 ELKE BIRK DR THOMAS LINDEMANN IRIS SCHÖBERL CHRISTIAN ULBRICH RODNEY BYSH OLIVER PUHL THOMAS ETZEL STEFAN BOEHME SIEGFRIED FERNITZ RICHARD PRICE SALON 2 WOHNUNGSPORTFOLIOS IN DEUTSCHLAND vorläufiger höhepunkt oder erst der anfang? STEPHAN RIND MARTIN FÄNGER THOMAS LANDSCHREIBER DAVID PASCALL TRANSPARENZ UND IMMOBILIENMARKT corporate governance als wirkliche aufhellung? DR WULF MEINEL WERNER KNIPS MICHAEL KREMER DR DOLF WEBER SEKUNDÄRMARKT FÜR PORTFOLIOTRANSAKTIONEN verkaufen oder optimieren? CHRISTIAN SCHULZ-WULKOW DR MICHAEL ALBERTZ THOMAS JEBSEN RALPH WINTER CORPORATE REAL ESTATE money to make or to lose? PRICING OF NPL PORTFOLIO S whose game is it? IMMOBILIENMARKT BERLIN investieren, entwicklen oder hände weg? SALON 3 SVEN ANDERSEN DR JOHANNES CONRADI MICHAEL GERLICH DR PETER SAEMANN KARL-JOSEF SCHNEIDERS RAFFAELE LINO ANDREW HALHEAD RAHUL SULE DR JÜRGEN LEIBFRIED DR EUGEN VON LACKUM THEO WEYANDT DR JOB VON NELL SALON 4 VALUE ADDED INVESTMENTS does it pay? MATTHIAS HÜNLEIN DR SVEN HELMER DR TILMAN HICKL INVESTORS ABROAD are yields in eastern europe more attractive? KLAUS SCHEITZ MARTIN ERBE DR FRANZ JURKOWITSCH ANGELIKA KUNATH CHRISTIAN SCHULTE EISTRUP PROFESSIONELLES MANAGEMENT DURCH OUTSOURCING wunsch oder wirklichkeit? MARKUS REINERT DOMINIK BRAMBRING MATTHIAS DRÜPPEL VOLKER MAURITZ JÖRN ZURMÜHLEN GERMAN RETAIL internationalisation goes on? RENAISSANCE OF THE CITIES how long will it last? PROJEKTENTWICKLERFONDS neue chancen für projektentwickler? SALON 5 RAIMUND ELLROTT GERHARD DUNSTHEIMER LARS RICHTER FRANZ LUCIEN MÖRSDORF DR MICHAEL ALBERTS DR HERBERT APPELT DR MARTIN WENTZ ELMAR HAMMERSCHMIDT HORST LIEDER THOMAS WIRTZ HOTEL - PORTFOLIO OR SINGLE ASSETS what s driving the market? SOCIAL SERVICE REAL ESTATE is the sick-bed a hot bed for investors? ACCESSING PUBLIC EQUITY what are investors looking for? SALON 10 CHRISTOPH HÄRLE MONIKA LITSCHKE BARRY SADR HASHEMI CHRISTOF GAUDIG CARSTEN BRINKMANN MARTIN ENGEL LLOYD LEE KARI PITKIN JOSEPH HOULIHAN RUSSELL PLATT BERND STAHLI SALON 11 GERMAN OPPORTUNITIES risks and rewards SAUL GOLDSTEIN JOHN DWYER MICHAEL JUNG STÉPHANE THEURIAU INDUSTRIAL PROPERTY braun und schmutzig, aber lukrativ? ALEXANDER HOFF UWE FUHRMANN AXEL KÖNIG PARADIES FÜR INVESTOREN macht professionelles asset management auch dasschlechteste investment erfolgreich? WOLFGANG EGGER WOLFGANG BEHRENDT BERNHARD BERG JÜRGEN CANCIK ALBRECHT GLASER MARCELLINO GRAF VON HOENSBROECH SALON 12 G-REITS AND UK-REITS are there better alternatives? HANS-DIETER SCHULZ - GEBELTZIG DR HENNING KLÖPPELT MARCUS POLLMANN PHILIPPE TANNENBAUM PUBLIC SECTOR OUTSOURCING neue deals, neue märkte? DR CHRISTIAN SCHEDE KARLHEINZ WEIMAR DR THILO SARRAZIN PETER KIMPEL DIRK KÜHNAU ERNST JOSEF LEHRER INNOVATIVE IMMOBILIENPRODUKTE was kommt, was macht sinn? WALTER KLUG DR TOBIAS JUST ANDREAS SCHILLER BÄRBEL SCHOMBERG

7 Tuesday 9 May 08h45-09h45 KEYNOTE THE CHANGING REAL ESTATE ENVIRONMENT opportunities and threats FESTSAAL DR PETER LINNEMAN professor of real estate, finance and business policy WHARTON - UNIVERSITY OF PENNSYLVANIA Peter Linneman 10H00-11H15 12H00-13H15 14H45-16H00 SALON 1 DRIVERS IN REAL ESTATE what creates tomorrow s success? ULRICH HÖLLER FRANK LAMBY ANDREW STAINER GETTING YOUR HANDS ON THE MONEY working out the npl s MARK MEMMERT JEREMY BROCHHAGEN CLARENCE DIXON DR FRANK LEHRBASS DR RICHARD REICHEL KAI SUDMANN IMMOBILIEN BEI VERSICHERUNGEN UND PENSIONSKASSEN was ist die richtige risikoprämie? DIETRICH HEIDTMANN SYMON GODL MICHAEL MORGENROTH WERNER REGENBERG DIRK SCHLÜRMANN MARK WOLTER KONVENTIONELLE FINANZIERUNG VS CMBS kannibalisierung oder friedliche koexistenz? IMMOBILIENMANAGEMENT unterschätzte aufgabe bei immobilientransaktionen? LEBENSZYKLUSBETRACHTUNG VON IMMOBILIEN mehrwert oder modetrend? SALON 2 JOACHIM PLESSER CLAUS-JÜRGEN COHAUSZ THOMAS ERTL DIRK RICHOLT HENNING SCHMALZ WOLFGANG WINGENDORF RICHARD KUNZE LOTHAR SLABIK KLAUS RAPS ULRICH BOLLWERK PROF MICHAEL CESARZ STEPHAN GEORG KAHL OLIVER PRIGGEMEYER FRITZ-MARTIN WALDENDORF PORTFOLIO TRANSACTIONS more deals to come? OUTSOURCING REAL ESTATE what sector is most promising? IMMOBILIEN IM BESTAND gold zu gold machen - aber wie? SALON 3 ANDREAS BLASCHKOWSKI ROBBIN HERRING DR RALF PAMPEL JÜRGEN SCHROEDER HEINZ JOACHIM KUMMER STEPHAN BÖNNING FABIAN GODBERSEN MARTIN LEMKE RAINER THALER DR BERND KOTTMANN DR GERHARD NIESSLEIN JUTTA ROSCHIG INVESTMENTS IN RESIDENTIAL are portfolio transactions the only way? GEWERBLICHE IMMOBILIEN mehr investoren als produkte? SHOPPING CENTERS still a trend? SALON 4 DR STEFANIE LEITER SVEN DAHLMEYER MICHAEL LEVY RAJESH SIVARAMAN MARTIN WIEMANN MATTHIAS LUECKER GERHARD MEITINGER JÖRG NEHLS DR FRANK BILLAND MATTHIAS BÖNING DR MARCUS CIELEBACK CLIVE LEWIS OPPORTUNISTIC INVESTMENTS IN GERMANY sustainable business or short term window? INVESTORS KEY aggressive lending or fundamentals? IMMOBILIEN AG S erfolgreiche zukunft oder schnelles ende? SALON 5 PEDRO AZNAR ERIC ADLER STEFAN AUMANN KEITH FISCHER SEBASTIAN GREINACHER DANIEL SCHULENBURG VAN STULTS PROF DR GERHARD SCHMIDT MICHAEL BOCK STEPHAN HÜSSEN KLAUS KIRCHBERGER BEYOND MULTI-FAMILY where are the best opportunities? SECURITISATION OR STRUCTURED BANK LOAN what works better? SALON 10 MARK NEWMAN ULRICH GRAEBNER JOHN HERBERT RICHARD POWERS TORSTEN BICKART THOMAS HARTL GÖTZ MICHL JOHN NACOS PETER VERMETTE SALON 11 D-REIT welche konstruktion ist wettbewerbsfähig? BERNHARD VISKER WOLFGANG FUCHS DR ECKART JOHN VON FREYEND ISLAMIC MONEY how can it find a home in germany? ANNI HÖNICKE STEPHANE AMINE DR LIANE MUSCHTER DIRK RUPPERT THIBAULT WHITE RALPH WOOD OPEN ENDED FUNDS back to the future or end summer sale? KLAUS KORTEBEIN CHRISTIAN GRAF VON HOCHBERG DR JÖRG LANG ALEXANDER SAUR PROF DR MATTHIAS THOMAS SALON 12 GERMAN REAL ESTATE is it love or an affair? BARBARA KNOFLACH JEPPE DE BOER BERND KNOBLOCH EDGAR KRAUSS KLAUS LAMINET REINIER VAN GERREVINK FUND OF FUNDS adding value or commercial gimmick? MICHAEL ENGLISCH DR JOSEF BRINKHAUS PROF DR STEFAN JUGEL DR MATTHIAS STÜRMER WOHNUNGSPORTFOLIOS was kommt nach den mega-verkäufen? MARC LEFFIN ANNEKAY GRÖBBELS-JANKA DR BENEDIKT KIESL CHRISTIAN TERBERGER

8 DISCUSSION GROUPS Monday 8 May The job of the discussion chairs is to make everybody talk... CORPORATE REAL ESTATE money to make or to lose? SVEN ANDERSEN vice president DEUTSCHE BANK SALON 3 DR JOHANNES CONRADI partner FRESHFIELDS MICHAEL GERLICH ROCKPOINT DEUTSCHLAND DR PETER SAEMANN CREDIT SUISSE Sven Andersen Johannes Conradi Michael Gerlich KARL-JOSEF SCHNEIDERS SIREO Peter Saemann Karl-Josef Schneiders SECURITISATION IN REAL ESTATE do clients and banks pull different ends? SALON 1 ELKE BIRK vice president MERRILL LYNCH DR THOMAS LINDEMANN partner LOVELLS IRIS SCHÖBERL geschäftsführerin REIT ASSET MANAGEMENT Elke Birk Thomas Lindemann Iris Schöberl HOTEL - PORTFOLIO OR SINGLE ASSETS what s driving the market? SALON 10 CHRISTOPH HÄRLE executive vice president JONES LANG LASALLE HOTELS MONIKA LITSCHKE abteilungsleiterin immobilien vermietung DIFA BARRY SADR HASHEMI director AZURE PROPERTIES UK Christoph Härle Monika Litschke Barry Sadr Hashemi VALUE ADDED INVESTMENTS does it pay? SALON 4 MATTHIAS HÜNLEIN TISHMAN SPEYER DR SVEN HELMER senior vice president SAL OPPENHEIM DR TILMAN HICKL TMW PRAMERICA Matthias Hünlein Sven Helmer Tilman Hickl

9 14H00-15H15 WOHNUNGSPORTFOLIOS IN DEUTSCHLAND vorläufiger höhepunkt oder erst der anfang? STEPHAN RIND ceo COLONIA REAL ESTATE MARTIN FÄNGER executive director, corporate clients WESTLB SALON 2 THOMAS LANDSCHREIBER DAVID PASCALL TERRA FIRMA Stephan Rind Martin Fänger Thomas Landschreiber David Pascall G-REITS AND UK-REITS are there better alternatives? HANS-DIETER SCHULZ - GEBELTZIG partner NORTON ROSE SALON 12 DR HENNING KLÖPPELT WARBURG-HENDERSON MARCUS POLLMANN director ROYAL BANK OF SCOTLAND PHILIPPE TANNENBAUM head of research EUROHYPO Hans-Dieter Schulz-Gebeltzig Marcus Pollmann Philippe Tannenbaum GERMAN OPPORTUNITIES risks and rewards SAUL GOLDSTEIN CERBERUS DEUTSCHLAND SALON 11 JOHN DWYER head of real estate FLEMING FAMILY AND PARTNERS MICHAEL JUNG cfo VIVACON STÉPHANE THEURIAU MORGAN STANLEY Saul Goldstein John Dwyer Michael Jung Stéphane Theuriau GERMAN RETAIL internationalisation goes on? RAIMUND ELLROTT GFK PRISMA SALON 5 GERHARD DUNSTHEIMER stellvertreter der geschäftsführung ECE PROJEKTMANAGEMENT LARS RICHTER abteilungsleiter shoppingcenter DIFA Raimund Ellrott Gerhard Dunstheimer All material throughout this program is subject to change without notice

10 DISCUSSION GROUPS Monday 8 May...getting everybody to share, connect and make friends... INDUSTRIAL PROPERTY braun und schmutzig, aber lukrativ? SALON 11 ALEXANDER HOFF HALVERTON REAL ESTATE INVESTMENT UWE FUHRMANN geschäftsführer FUHRMANN AXEL KÖNIG ceo NAI APOLLO KRONE Alexander Hoff Uwe Fuhrmann Axel König TRANSPARENZ UND IMMOBILIENMARKT corporate governance als wirkliche aufhellung? DR WULF MEINEL CARLYLE GROUP WERNER KNIPS partner global head HEIDRICK & STRUGGLES SALON 2 MICHAEL KREMER LONDON & REGIONAL DR DOLF WEBER rechtsanwalt, notar a.d. Wulf Meinel Werner Knips Michael Kremer Dolf Weber PRICING OF NPL PORTFOLIO S whose game is it? RAFFAELE LINO DTZ SALON 3 ANDREW HALHEAD head of real estate underwriting HUDSON ADVISORS RAHUL SULE vice president JP MORGAN Raffaele Lino Andrew Halhead Rahul Sule INVESTORS ABROAD are yields in eastern europe more attractive? KLAUS SCHEITZ leiter immobilienfinanzierung INVESTKREDIT MARTIN ERBE executive director WESTDEUTSCHE IMMOBILIENBANK SALON 4 DR FRANZ JURKOWITSCH ceo WARIMPEX ANGELIKA KUNATH managing partner FONDSHAUS HAMBURG Klaus Scheitz Martin Erbe Franz Jurkowitsch CHRISTIAN SCHULTE EISTRUP vice president MORGAN STANLEY Angelika Kunath Christian Schulte Eistrup

11 16H00-17H15 REAL ESTATE SWAP neuer weg zur portfoliodiversifizierung? SALON 1 CHRISTIAN ULBRICH JONES LANG LASALLE RODNEY BYSH director of property business development HENDERSON GLOBAL INVESTORS OLIVER PUHL executive director MORGAN STANLEY Christian Ulbrich Rodney Bysh Oliver Puhl PUBLIC SECTOR OUTSOURCING neue deals, neue märkte? DR CHRISTIAN SCHEDE partner FRESHFIELDS SALON 12 KARLHEINZ WEIMAR finanzminister HESSISCHES MINISTERIUM DER FINANZEN DR THILO SARRAZIN senator für finanzen LAND BERLIN PETER KIMPEL GOLDMAN SACHS Christian Schede Karlheinz Weimar Thilo Sarrazin DIRK KÜHNAU vorstand BUNDESANSTALT FÜR IMMOBILIENAUFGABEN ERNST JOSEF LEHRER vorstand SPARKASSE KOBLENZ Peter Kimpel Dirk Kühnau Ernst Josef Lehrer SOCIAL SERVICE REAL ESTATE is the sick-bed a hot hot bed bed for investors? SALON 10 CHRISTOF GAUDIG partner MAYER BROWN ROWE & MAW CARSTEN BRINKMANN geschäftsführer TERRANUS MARTIN ENGEL vice president GE REAL ESTATE LLOYD LEE STARWOOD CAPITAL EUROPE Christof Gaudig Carsten Brinkmann Martin Engel Lloyd Lee RENAISSANCE OF THE CITIES how long will it last? FRANZ LUCIEN MÖRSDORF AURELIS REAL ESTATE DR MICHAEL ALBERTS partner HÖLTERS & ELSING SALON 5 DR HERBERT APPELT chairman MFI MANAGEMENT FUR IMMOBILIEN PROF DR MARTIN WENTZ geschäftsführender gesellschafter WENTZ CONCEPT Franz Lucien Mörsdorf Michael Alberts Herbert Appelt Martin Wentz

12 DISCUSSION GROUPS Monday 8 May INNOVATIVE IMMOBILIENPRODUKTE was kommt, was macht sinn? SALON 12 WALTER KLUG MORGAN STANLEY REAL ESTATE DR TOBIAS JUST senior economist DEUTSCHE BANK ANDREAS SCHILLER publisher IMMOBILIEN MANAGER BÄRBEL SCHOMBERG DEGI Walter Klug Tobias Just Andreas Schiller Bärbel Schomberg GERMAN INVESTORS IN THE US is the grass greener? THOMAS ETZEL BHF-BANK SALON 1 STEFAN BOEHME METZLER NORTH AMERICA SIEGFRIED FERNITZ CATALYST CAPITAL GERMANY RICHARD PRICE ING CLARION PARTNERS Thomas Etzel Stefan Boehme Siegfried Fernitz Richard Price PROJEKTENTWICKLERFONDS neue chancen für projektentwickler? SALON 5 ELMAR HAMMERSCHMIDT bereichsleiter IKB DEUTSCHE INDUSTRIEBANK AG HORST LIEDER direktor IVG MANAGEMENT THOMAS WIRTZ vice president SAL OPPENHEIM Elmar Hammerschmidt Horst Lieder Thomas Wirtz SEKUNDÄRMARKT FÜR PORTFOLIOTRANSAKTIONEN verkaufen oder optimieren? SALON 2 CHRISTIAN SCHULZ-WULKOW partner ERNST & YOUNG DR MICHAEL ALBERTZ CORPUS IMMOBILIENGRUPPE THOMAS JEBSEN director HYPOVEREINSBANK RALPH WINTER Christian Schulz-Wulkow Michael Albertz Thomas Jebsen Ralph Winter

13 17H45-19H00 PROFESSIONELLES MANAGEMENT DURCH OUTSOURCING wunsch oder wirklichkeit? SALON 4 MARKUS REINERT international director & management board germany JONES LANG LASALLE DOMINIK BRAMBRING principal BLACKSTONE GROUP MATTHIAS DRÜPPEL WESTINVEST VOLKER MAURITZ vorsitzender der geschäftsführung RIAG GEBÄUDEMANAGEMENT JÖRN ZURMÜHLEN head of asset management AMB GENERALI IMMOBILIEN Markus Reinert Dominik Brambring Matthias Drüppel Volker Mauritz Jörn Zurmühlen PARADIES FÜR INVESTOREN macht professionelles asset management auch das schlechteste investment erfolgreich? SALON 11 WOLFGANG EGGER ceo PATRIZIA IMMOBILIEN WOLFGANG BEHRENDT head of real estate portfolio management MEAG ASSET MANAGEMENT BERNHARD BERG vorsitzender der geschäftsführung AMB GENERALI IMMOBILIEN JÜRGEN CANCIK vorstand immobilienfinanzierung BAYERISCHE HYPO- UND VEREINSBANK Wolfgang Egger Wolfgang Behrendt Bernhard Berg ALBRECHT GLASER geschäftsführer ABG FRANKFURT MARCELLINO GRAF VON HOENSBROECH CARGILL VALUE INVESTMENT Albrecht Glaser Marcellino Graf von Hoensbroech ACCESSING PUBLIC EQUITY what are investors looking for? KARI PITKIN MERRILL LYNCH JOSEPH HOULIHAN HOULIHAN ROVERS SALON 10 RUSSELL PLATT FORUM PARTNERS BERND STAHLI director MERRILL LYNCH Kari Pitkin Joseph Houlihan Russell Platt Bernd Stahli IMMOBILIENMARKT BERLIN investieren, entwicklen oder hände weg? DR JÜRGEN LEIBFRIED BAUWERT PROPERTY GROUP DR EUGEN VON LACKUM ceo TLG SALON 3 DR JOB VON NELL BEOS PROJEKTENTWICKLUNG THEO WEYANDT head of berlin office EUROHYPO Jürgen Leibfried Job von Nell Theo Weyandt

14 DISCUSSION GROUPS 08H45-09H45 Tuesday 9 May KEYNOTE THE CHANGING REAL ESTATE ENVIRONMENT opportunities and threats DR PETER LINNEMAN professor of real estate, finance and business policy WHARTON - UNIVERSITY OF PENNSYLVANIA FESTSAAL Peter Linneman GERMAN REAL ESTATE is it love or an affair? BARBARA KNOFLACH SEB IMMOINVEST SALON 12 JEPPE DE BOER executive director GOLDMAN SACHS BERND KNOBLOCH ceo & chairman of the board EUROHYPO EDGAR KRAUSS cio COLONIA REAL ESTATE Barbara Knoflach Jeppe de Boer Bernd Knobloch KLAUS LAMINET managing partner INVESTA PROJEKTENTWICKLUNG REINIER VAN GERREVINK ceo VASTNED MANAGEMENT Edgar Krauss Klaus Laminet Reinier van Gerrevink OPPORTUNISTIC INVESTMENTS IN GERMANY sustainable business or short term window? PEDRO AZNAR vice president WARBURG PINCUS ERIC ADLER TISHMAN SPEYER SALON 5 STEFAN AUMANN direktor MERRILL LYNCH Pedro Aznar Eric Adler Stefan Aumann PORTFOLIO TRANSACTIONS more deals to come? SALON 3 ANDREAS BLASCHKOWSKI geschäftsführer DREES & SOMMER ROBBIN HERRING director CITIGROUP PROPERTY INVESTORS DR RALF PAMPEL METZLER CORPORATE FINANCE JÜRGEN SCHRÖDER deputy member of the management board AAREAL ESTATE Andreas Blaschkowski Robbin Herring Ralf Pampel Jürgen Schröder

15 10H00-11H15 D-REIT welche konstruktion ist wettbewerbsfähig? SALON 11 BERNHARD VISKER member of supervisory board HSH NORDBANK WOLFGANG FUCHS executive director UBS DEUTSCHLAND DR ECKART JOHN VON FREYEND ceo IVG IMMOBILIEN Bernhard Visker Wolfgang Fuchs Eckart John von Freyend KONVENTIONELLE FINANZIERUNG VS CMBS kannibalisierung oder friedliche koexistenz? SALON 2 JOACHIM PLESSER member of the management board EUROHYPO CLAUS-JÜRGEN COHAUSZ member of the managing board WESTDEUTSCHE IMMOBILIENBANK THOMAS ERTL director LEHMAN BROTHERS DIRK RICHOLT director - real estate finance CITIGROUP HENNING SCHMALZ executive director WESTLB Joachim Plesser Claus-Jürgen Cohausz Thomas Ertl Dirk Richolt Henning Schmalz INVESTMENTS IN RESIDENTIAL are portfolio transactions the only way? SALON 4 DR STEFANIE LEITER director of financing ARCHON GROUP SVEN DAHLMEYER executive director GOLDMAN SACHS MICHAEL LEVY partner MCT ASSET MANAGEMENT RAJESH SIVARAMAN associate ABN AMRO MARTIN WIEMANN partner FRESHFIELDS Stefanie Leiter Michael Levy Rajesh Sivaraman Martin Wiemann BEYOND MULTI-FAMILY where are the best opportunities? SALON 10 MARK NEWMAN md & cio real estate private equity LEHMAN BROTHERS ULRICH GRAEBNER DRUEKER & CO. JOHN HERBERT MERRILL LYNCH RICHARD POWERS GOLDMAN SACHS Mark Newman John Herbert Richard Powers DRIVERS IN REAL ESTATE what creates tomorrow s success? SALON 1 ULRICH HÖLLER ceo DIC FRANK LAMBY ceo HYPO REAL ESTATE BANK ANDREW STAINER DEUTSCHE BANK Ulrich Höller Frank Lamby Andrew Stainer

16 DISCUSSION GROUPS Tuesday 9 May...as if an after-dinner conversation in one s own living room FUND OF FUNDS adding value or commercial gimmick? SALON 12 MICHAEL ENGLISCH director property business development (europe) HENDERSON GLOBAL INVESTORS DR JOSEF BRINKHAUS rechtsanwalt & partner CLIFFORD CHANCE PROF DR STEFAN JUGEL lehrstuhl für internationales marketing FACHHOCHSCHULE WIESBADEN Michael Englisch Josef Brinkhaus Stefan Jugel DR MATTHIAS STÜRMER head of real estate E.ON ENERGIE Matthias Stürmer GETTING YOUR HANDS ON THE MONEY working out the npl s SALON 1 MARK MEMMERT director CREDIT SUISSE JEREMY BROCHHAGEN vice president CREDIT SUISSE CLARENCE DIXON CROWN EUROPEAN MORTGAGE DR FRANK LEHRBASS head of portfolio management DG HYP DR RICHARD REICHEL senior manager HOIST AG KAI SUDMANN general manager IMMOFORI Mark Memmert Jeremy Brochhagen Clarence Dixon Frank Lehrbass Richard Reichel Kai Sudmann IMMOBILIENMANAGEMENT unterschätzte aufgabe bei immobilientransaktionen? SALON 2 WOLFGANG WINGENDORF geschäftsführer TREUREAL RICHARD KUNZE geschäftsführer KUNZE GRUPPE LOTHAR SLABIK ceo TREUREAL GEBÄUDESERVICE Wolfgang Wingendorf Richard Kunze Lothar Slabik

17 12H00-13H15 OUTSOURCING REAL ESTATE what sector is most promising? SALON 3 HEINZ JOACHIM KUMMER partner FRESHFIELDS STEPHAN BÖNNING IXIS AEW DEUTSCHLAND FABIAN GODBERSEN principal BLACKSTONE GROUP MARTIN LEMKE PATRIZIA IMMOBILIEN Heinz Joachim Kummer Stephan Bönning Fabian Godbersen Martin Lemke GEWERBLICHE IMMOBILIEN mehr investoren als produkte? MATTHIAS LUECKER FREO SALON 4 GERHARD MEITINGER head of structured finance HYPO REAL ESTATE JÖRG NEHLS member of management board ATISREAL Matthias Luecker Gerhard Meitinger Jörg Nehls ISLAMIC MONEY how can it find a home in germany? STEPHANE AMINE chairman INOVALIS DR LIANE MUSCHTER senior associate NORTON ROSE SALON 11 ANNI HÖNICKE head corporate banking north & west europe EUROHYPO DIRK RUPPERT TMW PROPERTY THIBAULT WHITE directeur DTZ ASSET MANAGEMENT RALPH WOOD director of fund management AXA REIM Anni Hönicke Liane Muschter Thibault White INVESTORS KEY aggressive lending or fundamentals? SALON 5 KEITH FISCHER executive director LEHMAN BROTHERS SEBASTIAN GREINACHER principal DOUGHTY HANSON DANIEL SCHULENBURG managing partner JARGONNANT PARTNERS VAN STULTS managing partner ORION CAPITAL MANAGERS Keith Fischer Sebastian Greinacher Daniel Schulenburg Van Stults

18 DISCUSSION GROUPS Tuesday 9 May LEBENSZYKLUSBETRACHTUNG VON IMMOBILIEN mehrwert oder modetrend? SALON 2 KLAUS RAPS vorsitzender der geschäftsführung BILFINGER BERGER ULRICH BOLLWERK management board VIVICO PROF MICHAEL CESARZ ceo METRO GROUP STEPHAN GEORG KAHL geschäftsführer ROHDE & SCHWARZ OLIVER PRIGGEMEYER geschäftsführer ASSETIS FRITZ-MARTIN WALDENDORF COLOGNE REAL ESTATE Klaus Raps Ulrich Bollwerk Michael Cesarz Stephan Georg Kahl Oliver Priggemeyer Fritz-Martin Waldendorf OPEN ENDED FUNDS back to the future or end summer sale? SALON 11 KLAUS KORTEBEIN MORGAN STANLEY REAL ESTATE CHRISTIAN GRAF VON HOCHBERG director HYPOTHEKENBANK IN ESSEN DR JÖRG LANG partner MAYER BROWN ROWE & MAW Klaus Kortebein Christian Graf v. Hochberg Jörg Lang ALEXANDER SAUR IXIS CORPORATE & INVESTMENT BANK PROF DR MATTHIAS THOMAS lehrstuhl immobilienwirtschaft FACHHOCHSCHULE HOLZMINDEN Alexander Saur Matthias Thomas IMMOBILIEN AG S erfolgreiche zukunft oder schnelles ende? SALON 5 PROF DR GERHARD SCHMIDT chairman supervisory board DIC MICHAEL BOCK general manager PROVINZIAL RHEINLAND STEPHAN HÜSSEN FUTURE OFFICE MANAGEMENT KLAUS KIRCHBERGER chief executive officer THURN UND TAXIS Gerhard Schmidt Stephan Hüssen Klaus Kirchberger WOHNUNGSPORTFOLIOS was kommt nach den mega-verkäufen? SALON 12 MARC LEFFIN vorstandsvorsitzender VIVACON ANNEKAY GRÖBBELS-JANKA mitglied der geschäftsleitung ENGEL & VÖLKERS DR BENEDIKT KIESL EUROHYPO CHRISTIAN TERBERGER BABCOCK & BROWN Marc Leffin Annekay Gröbbels-Janka Benedikt Kiesl Christian Terberger

19 14H45-16H00 IMMOBILIEN IM BESTAND gold zu gold machen - aber wie? SALON 3 RAINER THALER GE REAL ESTATE DR BERND KOTTMANN member of the board & coo IVG IMMOBILIEN AG DR GERHARD NIESSLEIN ceo DETE IMMOBILIEN JUTTA ROSCHIG erste direktorin BUNDESANSTALT FÜR IMMOBILIEN Rainer Thaler Bernd Kottmann Gerhard Niesslein Jutta Roschig SHOPPING CENTERS still a trend? SALON 4 DR FRANK BILLAND member of board of directors DIFA MATTHIAS BÖNING vorstand & coo MFI MANAGEMENT FUR IMMOBILIEN DR MARCUS CIELEBACK head of rac research EUROHYPO CLIVE LEWIS LTG REAL ESTATE Frank Billand Matthias Böning Marcus Cieleback SECURITISATION OR STRUCTURED BANK LOAN what works better? TORSTEN BICKART HYPOVEREINSBANK THOMAS HARTL vice president MORGAN STANLEY SALON 10 GÖTZ MICHL director ABN AMRO JOHN NACOS DEUTSCHE BANK Torsten Bickart Thomas Hartl Götz Michl PETER VERMETTE GOLDMAN SACHS John Nacos Peter Vermette IMMOBILIEN BEI VERSICHERUNGEN UND PENSIONSKASSEN was ist die richtige risikoprämie? SALON 1 DIETRICH HEIDTMANN executive director MORGAN STANLEY SYMON GODL portfolio manager immobilien E.ON ENERGIE MICHAEL MORGENROTH management board member GOTHAER ASSET MANAGEMENT DR WERNER REGENBERG senior vice president BASF Dietrich Heidtmann Michael Morgenroth Werner Regenberg DIRK SCHLÜRMANN geschäftsführer portfoliomanagement ALLIANZ IMMOBILIEN MARK WOLTER bereichsleiter portfoliostrategie AMB GENERALI IMMOBILIEN Dirk Schlürmann Mark Wolter

20 Unternehmensprofil: aurelis verfügt über ein Portfolio von rund 30 Millionen m 2 ehemaliger Bahnflächen. Die Grundstücke liegen im Zentrum deutscher Städte und verfügen über gute verkehrstechnische Erschließungsmöglichkeiten. Damit bietet aurelis Investoren und Kommunen die Chance, die oftmals letzten städtebaulichen Freiräume für urbane Entwicklungsprojekte zu nutzen. In enger Abstimmung mit den Marktpartnern entwickelt aurelis für ihre Areale attraktive Nutzungskonzepte. Das Unternehmen betreut die Projekte bis zur Schaffung des Planungsrechts und Baureife. Auch die Anmietung von Gewerbeflächen ist über aurelis möglich. Franz Lucien Mörsdorf Dr. Reinhold C. Heibel Geschäftsführer Franz Lucien Mörsdorf Geschäftsführer Dieter Ullsperger Geschäftsführer Jens Bocklage, Leiter Projektentwicklung Dr. Frank Ebner, Leiter Portfolio Management Peter Hähnke, Leiter Asset Management Holger Schmidt, Leiter Vertrieb aurelis Real Estate GmbH & Co. KG Mergenthalerallee Eschborn Germany Tel: +49 (0) Fax: +49 (0) info@aurelis-real-estate.de Die Mehrheit der aurelis-geschäftsanteile wird von einer Investorengruppe unter Führung der WestLB gehalten. Das Unternehmen ist mit Regionalbereichen in Hamburg, Köln, Frankfurt und München sowie mit Großprojektbüros in Berlin, Düsseldorf, Heidelberg und Nürnberg vertreten. Die Zentrale ist in Eschborn bei Frankfurt am Main. Company profile: aurelis has a portfolio of about 30 million m 2 of former railway property. The assets are located in the centre of German cities, with excellent transportation links. aurelis therefore offers investors and local authorities the opportunities of using what in many cases are the last remaining areas available for urban development projects. The company develops its real estate sites right up to the point where rezoning has been completed and construction can begin. Commercial and industrial space can also be rented through aurelis. aurelis has regional offices in Hamburg, Cologne, Frankfurt and Munich, and also has offices for major projects in Berlin, Düsseldorf, Heidelberg and Nuremberg. Its head office is in Eschborn, near Frankfurt/Main.

21 Edgar Krauß CIO Stephan Rind CEO Klaus Reichert CFO Colonia Real Estate AG is an integrated Real Estate Investment Group with a nationwide office network and a clear focus on the German market. The company s opportunistic invest approach targets cash-flow positive, high-yielding investments in the area of residential and commercial real estate. CRE seek to make direct controlling investments in public and private property companies which can be acquired at a significant discount to Net Asset Value. Through its affiliate Resolution CRE is a leading asset manager for third parties with EUR 700mn under Management. With the foundation of CRE Fonds Management early 2006 the company started the business of the conception and the distribution of structured real estate products, especially closed-end-funds, for retail and institutional investors. Colonia Real Estate AG Hohenstaufenring Cologne / Germany phone: fax: mail: info@cre.ag Internet: The business model includes the divisions Investments and Services CRE s principal investment divisions are building a diversified real estate portfolio in high-yield properties with high recurrent cash flows. Focus on small and midsize portfolio s, off-market transactions and distressed situations. As an active portfolio manager CRE targets quality properties in undervalued markets that offer high value appreciation potential. The opportunistic investment approach aims to generate an IRR of at least 15% p.a. on the equity investment with holding periods of up to eight years. CRE Fonds Management GmbH (CFM) is responsible for the conception and distribution of structured real estate products for private and institutional clients. CRE Research & Management (CRM) manages the principal investments of the group and provides inhouse research. Resolution is the majority owned Asset Management specialist for third parties. The company currently manages EUR 700mn for third parties mainly in opportunistic and value added office real estate At the time CRE operates EUR 900mn in Real Estate Assets. Until 2008 the group targets EUR 2bn assets under management. The performance of CRE is generated by a well-experienced management team. Our team is directly participating in the different business units.

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23 Hartmut Fründ Dietmar Meister Hartmut Fründ Managing Partner Dietmar Meister Partner Christian Schulz-Wulkow Partner Christian Schulz-Wulkow Unternehmenskurzprofil Die Ernst & Young Real Estate GmbH ist eines der führenden Immobilienberatungsunternehmen. Wir bieten Lösungen für komplexe Immobilienfragen und deren Umsetzung auf der Basis eines integrierten Beratungsansatzes. Durch langjährige Erfahrung und weltweite Kompetenz wird der Wert der Immobilie mobilisiert. 170 Berater der Ernst & Young Real Estate GmbH (Betriebswirte, Juristen, Ingenieure, Architekten) unterstützt durch weitere 130 Real Estate spezialisierte Wirtschaftsprüfer, Steuerberater und Rechtsanwälte in Deutschland sowie Immobilienspezialisten bei Ernst & Young weltweit sind in den folgenden Bereichen beratend tätig: Real Estate Corporate Finance Corporate Real Estate Real Estate Development + Project Management Die Ernst & Young Real Estate GmbH ist Teil von Ernst & Young weltweit. Auch bei großen Projekten steht Ihnen immer ein zentraler Ansprechpartner zur Verfügung, der den gesamten Prozess koordiniert und innerhalb des Ernst & Young Netzwerkes alle für Sie wichtigen Informationen beschafft, bewertet und mit Ihnen gemeinsam umsetzt. Ernst & Young Real Estate GmbH Mergenthalerallee D Eschborn/ Frankfurt T. +49 (61 96) F. +49 (61 96) hartmut.fruend@de.ey.com Internet: Company s Activities Ernst & Young Real Estate GmbH is one of the leading Real Estate Advisory firms in Germany. 170 real estate professionals of Ernst & Young Real Estate in Germany, supported by appr. 130 specialized real estate auditors, tax consultants and attorneys of Ernst & Young Germany and 3,500 real estate specialists worldwide provide a comprehensive range of customized business, financial and advisory services. Ernst & Young Real Estate GmbH is a part of Ernst & Young worldwide. Even with major projects, you are supported by a single central contact partner at all times. This contact partner will coordinate the entire process, drawing upon Ernst & Young s global network and expertise to obtain and evaluate the information relevant to you, and work closely with you to apply this information. We see ourselves as part your team and will work closely with you to develop solutions that make you and your property a success.

24 Eurohypo AG is Europe s leading specialised bank for real estate and public sector financing. Eurohypo is a member of Commerzbank group. Eurohypo has an excellent position in the global market: The Bank is the only real estate finance provider with a pan-european presence, the only German real estate finance provider with an established unit in the USA and the leader in European real estate investment banking. Bernd Knobloch Dirk Wilhelm Schuh Jochen Klösges Commercial real estate finance is one of the Bank s core activities. In order to arrive at the optimal tailor made solution, all state-of-the-art advisory and financing instruments are utilised: For professional clients Eurohypo offers the entire added value chain in complex real estate financing transactions, covering traditional loans business as well as real estate investment banking e.g. securitization and mezzanine finance - in Europe and in the USA. In real estate investment banking Eurohypo s position is also enhanced by the fact that the majority shareholders have transferred their commercial property finance activities to the bank. Eurohypo s size facilitates the underwriting of large-volume loans enabling the bank being one of the lead managers for syndicated loans in Europe. Joachim Plesser Henning Rasche Martin Zielke Bernd Knobloch CEO Dirk Wilhelm Schuh Vice CEO Jochen Klösges Member of the Board of Managing Directors Joachim Plesser Member of the Board of Managing Directors Henning Rasche Member of the Board of Managing Directors Martin Zielke Member of the Board of Managing Directors In retail banking Eurohypo is also an important address for private customers in Germany. New commitments in this traditional private client business are focused on co-operation agreements with financial institutions with their own sales network (banks, insurance companies, home and savings associations). Another key competence of Eurohypo in this business is the loan servicing. In public sector financing, with taylor-made capital market products, structured loans and private placements Eurohypo is an important partner for governments around the world. The Bank is also a major bond issuer and the market leader in the Pfandbrief segment. It has a wide range of refinancing options with a worldwide access to the capital markets. EUROHYPO AG Helfmann-Park Eschborn GERMANY Tel (0) Fax +49. (0) info@eurohypo.com

25 Julian Newiss Anthony Yiannakis Julian Newiss Chairman Peter Kasch Managing Partner Anthony Yiannakis Partner Siegfried Fernitz Managing Director, Catalyst Capital GmbH Catalyst Capital Mainzer Landstraße Frankfurt am Main Tel +49 (0) Fax +49 (0) Peter Kasch Siegfried Fernitz 33 Cavendish Square London W1G 0PW Tel +44 (0) Fax +44 (0) Headquartered in London with offices in Paris and Frankfurt, Catalyst Capital identifies, purchases and manages a substantial portfolio of office, industrial and retail real estate in partnership with European and North American investors, based principally upon either opportunistic, value-added or core-plus strategies. It has acquired, in partnership with institutional and private investors, a commercial real estate portfolio totalling approximately 2.6 billion. Current priorities The Firm s five main areas of activity are to: identify and develop selective property investment opportunities, organise capital structure, co-invest in transactions, define, implement and supervise asset management programmes and undertake selective property development. Catalyst Capital continues to look for further opportunities throughout mainland Europe, notably in Germany, France, Italy and Central Europe, as well as the UK. Business mission & activities The Firm s investment strategy is based on the key principles of: a disciplined approach to risk management; preservation of the equity base; retaining the opportunity for high investment returns and maximising the value of the investment by both enhancing the capital value of the properties and improving the operating cash flow. Recent Activity The purchase of The Bero Shopping Centre in Oberhausen for 47 million The acquisition of the 54,900 sq.m. business park Industriezentrum Wedel, near Hamburg, for 34.6 million. The acquisition of 1-3 Dorset Rise, a 14,022 sq.m. prime office building in Central London for 115 million. The acquisition of a portfolio of eighteen France Telecom offices for million, located throughout France. The acquisition of the 26,481 sq.m. landmark ITN Building, 200 Gray s Inn Road, London for 160 million. History Catalyst Capital has effectively operated since 1996, having been established in 2001 with the acquistion of the European division of the New York based Greenwich Group International LLC (GGI) by Julian Newiss, Chairman of the European division, Peter Kasch, its Managing Director and key members of the senior management team.

26 DTZ is a leading global real estate adviser, working with clients to create leading-edge property, investment and business solutions worldwide. DTZ is a leading name in all the world s major business centres, with more than 9,000 staff advising and acting for leading multi-national companies, major financial institutions, government, developers and investors in 40 countries around the world. DTZ provides integrated services in corporate consulting, agency, brokerage, valuation, corporate finance, property management and research. David Steventon David Steventon CEO, DTZ Deutschland Raffaele Lino In Europe, Middle East and Africa, DTZ has one of the strongest market presences of any real estate adviser. Within Asia Pacific, DTZ is a leader in all the main markets of Australia, New Zealand, China, Hong Kong, Taiwan, India, Japan, Singapore and South East Asia. DTZ also delivers real estate services and solutions to multi-national companies in the Americas, through our US alliance with The Staubach Company. DTZ Holdings plc, which is the largest shareholder in the DTZ operations, is a publicly quoted company, listed on the London Stock Exchange since Raffaele Lino Managing Director DTZ Eschersheimer Landstrasse Frankfurt am Main Germany

27 - Deutschland INVESTITIONSFOKUS Gewerbliche Portfolios Eigenkapital (100%ige Akquisitionen), Equity Joint-Ventures oder Einzelobjektinvestitionen. Schwerpunktsektoren Büros, Datenzentren, Parkhäuser sowie Einrichtungen im Bereich Gesundheitswesen. Rainer Thaler Rainer Thaler Geschäftsführer Tel: +49 (0) GE Real Estate - Deutschland Martin-Behaim-Strasse Neu-Isenburg Notleidende Kredite Kauf notleidender, wertberichtigter oder hypothekarisch gesicherter Kredite. Corporate Outsourcing Sale/Leaseback-Lösungen für genutzte Immobilien sowie teilweise oder komplette Veräußerung von peripherem Immobilienbesitz von Firmen und Institutionen. Privater Wohnungsbausektor Die GE Real Estate erwarb im März 2005 die HPE Hausbau Gruppe; diese ist nun vollständig in die GE Real Estate eingegliedert. Die Akquisition der HPE stärkt die Stellung von GE in Deutschland und bietet GE ein Sprungbrett für weitere Akquisitionen von Immobilienfirmen und portfolios, die auf privaten Wohnungsbau spezialisiert sind. Diese Objektklasse stellt für GE einen wichtigen, strategischen Fokus in Deutschland dar. Jüngste Transaktionen Marseille-Kliniken AG: Erwerb von 12 Langzeittherapie-Einrichtungen von der Marseille-Kliniken AG ( MKAG ), dem größten privaten Betreiber von Langzeittherapie- und Reha-Einrichtungen in Deutschland, mittels Sale/ Leaseback-Transaktion. Wohnbau-Portfolio: Kauf von Wohnungen sowie 4 gewerblichen Objekten mit einer Gesamtfläche von m2. Die Objekte befinden sich in Leipzig, Dortmund, Essen, Siegen, Oberhausen und Aachen.

28 Jones Lang LaSalle (NYSE: JLL), the only real estate money management and services firm named to Forbes magazine s Platinum 400, has more than 100 offices worldwide and operates in more than 430 cities in 50 countries. With 2005 global revenues of approximately $1.4 billion, the company provides comprehensive integrated real estate and investment management expertise on a local, regional and global level to owner, occupier and investor clients. In Germany 350 employees are based in six offices in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich and Wiesbaden. Christoph Härle Markus Reinert Christian Ulbrich Christoph Härle Executive Vice President Jones Lang LaSalle Hotels Markus Reinert International Director, Management Board, Head of Management Services, Jones Lang LaSalle GmbH Christian Ulbrich Managing Director, Jones Lang LaSalle GmbH Jones Lang LaSalle GmbH Wilhelm-Leuschner-Str Frankfurt Tel. +49 (0) Fax +49 (0) info.germany@eu.jll.com Jones Lang LaSalle is an industry leader in property and corporate facility management services, with a portfolio of 923 million square feet worldwide. In 2005, the firm completed capital markets sales and acquisitions, debt financings, and equity placements on assets and portfolios valued at $43 billion. Jones Lang LaSalle Hotels, the world s leading hotel investment services firm, is uniquely positioned to provide both the depth and breadth of advice required by leading hotel companies and hotel investors globally. In 2005, Jones Lang LaSalle Hotels sold 32,049 hotel rooms to the value of $7.9 billion in 72 cities. In addition advisory and valuation expertise was provided on 139,498 rooms to the value of $31.8 billion across 265 cities. Their services include investment sales, mergers and acquisitions, valuation and appraisal, asset management, strategic planning, operator assessment and selection, hotel consulting, industry research and project development services. Jones Lang LaSalle (NYSE: JLL) verfügt weltweit über mehr als 100 Büros und ist in über 430 Städten in 50 Ländern tätig. Als einziges Unternehmen der Immobilienbranche wurde Jones Lang LaSalle in die Platinum 400 Liste des US-amerikanischen Forbes Magazine aufgenommen. Mit einem globalen Jahresumsatz in Höhe von rund $ 1,4 Milliarden in 2005 bietet das Unternehmen Eigentümern und Nutzern von gewerblichen Immobilien sowie Investoren ein umfassendes integriertes Immobilien- und Investment-Management-Know-how auf lokaler, regionaler und internationaler Ebene. In Deutschland agiert Jones Lang LaSalle mit rund 350 Mitarbeitern aus den sechs Standorten Berlin, Düsseldorf, Frankfurt, Hamburg, München und Wiesbaden heraus. Im Bereich Property und Corporate Facility Management Services ist Jones Lang LaSalle mit einem Portfolio von weltweit knapp 86 Millionen Quadratmetern führend in der Branche wickelte das Unternehmen auf dem Kapitalmarkt Käufe und Verkäufe, Fremdfinanzierungen und Eigenkapital- Investments in Assets und Portfolios im Wert von $43 Milliarden ab. Jones Lang LaSalle Hotels ist das weltweit führende Beratungsunternehmen für den Hotelimmobilienmarkt. Für unsere Kunden konnten wir im Jahr Hotelzimmer mit einem Wert von $7,9 Milliarden in 72 Städten verkaufen. Die Beratung umfasste Hotels mit insgesamt Zimmern in 265 Städten mit einem Wert von $31,8 Milliarden. Jones Lang LaSalle Hotels betreut vorwiegend Banken, Entwickler, Investoren, Eigentümer und Hotelgesellschaften bei der strategischen Beratung, Bewertung, Verwaltung und Betreiberselektion sowie beim Ankauf und Verkauf von Hotelobjekten und Hotelportfolios.

29 The four-pillar strategy of Vivacon AG: VIVACON AG has set itself the goal of being a key intermediary on the German residential property market. The majority of Vivacon AG s commercial activities are intended to focus on the leasehold sector a clear distinction from the competition. Vivacon AG s strategy is based on its four strategic areas of business involving institutional and private customers. Marc Leffin Timo Herbrand Asset Management Residential Properties Vivacon AG is the local managing partner for major international investors in the residential property sector and provides personnel as well as technical and commercial expertise on property selection, due diligence, financing, modernisation and possibly privatisation. Vivacon AG is therefore the perfect partner to major international investors for the professional management of residential property portfolios. Michael Jung Michael Ries Portfolio Trading Residential Property The German property market, in combination with historically low interest rates, offers an attractive arena for investment. Vivacon enables investors to take over more profitable residential privatisation portfolios and in turn makes exiting easier for existing property owners. At the request of potential investors, Vivacon can take charge of additional services, right through to complete asset management. The strategy in the portfolio trading sector involves the aggressive expansion of market share over the coming years. Marc Leffin CEO Timo Herbrand COO Michael Jung CFO Michael Ries CMO Vivacon AG Bayenthalgürtel Köln Tel: / Fax: / info@vivacon.de Retail of Listed Properties VIVACON AG makes the desire for own four walls affordable. For this purpose, the company uses a simple, well-established and extremely successful concept. VIVACON AG acquires and modernises flats and then sells them as leasehold. The prices are therefore reduced by the proportional costs of the plot of land. This is a concept from which all participants profit. In this field, Vivacon has set itself the goal of defending its role as market leader. Retail of Designer Flats VIVACON AG is the first on the German market to offer living space with an exclusive brand image designed by one of the best designers in the world: Philippe Starck. The French star designer transforms the architectural circumstances and moods of properties in the in-quarters of German metropolises into a living environment with a unique atmosphere.