18 Apr Q1 2023 wrap up and launch of Q2 fundraising
Q1 2023 was a busy quarter which saw the team completing a national roadshow, presenting to over 200 financial advisors across the country. They also made their first asset tour of OPEN’s Berlin retail centres and hosted a number of events, including Carpark Cocktails.
The portfolio also grew in Q1 2023, the OPEN acquiring c. €73m worth of German, #grocery retail anchored real estate, adding to the +€1.1bn portfolio.
To put this into perspective, OPEN’s acquisitions in the first quarter of the year amounted to c. 12% of the total Q1 2023 Irish commercial real estate market.
The size and scale of the German commercial real estate market provides a wide range of investment opportunities, a pool of highly creditworthy tenants, and a large number of domestic investors, helping to mitigate risk and stabilise potential returns.
Coupled with the highly regulated, transparent market, strong economy, and stable political environment we believe the German CRE market provides excellent investment opportunities.
OPEN enters into Q2 with a very positive outlook. New marketing material is now available to download on our Broker Portal.