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Newsletter EBS REMI October 2013

Research Centre for `Distressed Real Estate Debt´: Financial Experts Predict Lower Volumes of Distressed Real Estate Loans

The number of non-performing real estate loans that will come to the German market in the near future are - compared to last year's survey results - expected to be substantially lower. The trend of parameters such as gearing ratio, debt maturities, and financing volumes suggest that banks do currently prefer to extend their loans than to dispose of them. At the same time, fewer banks are expanding their new business in the German market.

This is the main outcome of the “Survey on the State of Real Estate Financing and on the Distressed Real Estate Debt Situation in Germany” conducted by the research centre `Distressed Real Estate Debt´ jointly operated by CORESTATE Capital AG and the Real Estate Management Institute (REMI) of EBS Universität.

„The present opportune interest rate is certainly one reason for the low number of distressed real estate portfolios currently on the market. Banks are provided with an abundance of capital since the European Central Bank announced its bond buying program. Therefore, the pressure on banks to sell their non-performing loans has decreased“, explains Ralph Winter, founder of CORESTATE Capital AG. "Nonetheless, distressed real estate assets will continue to be put on the market and their state can only be improved by a professional approach to real estate management, allowing for a stabilisation and repositioning of such portfolios." The research focuses on assessing the current financing sentiment in the real estate market from the banks’ perspective. This survey follows last year’s research undertaken by the CORESTATE Research Unit for Distressed Real Estate Debt. „This year's survey shows how significantly the sentiment in the market can change within one year", says Professor Dr Nico B. Rottke, Founder and Head of REMI of EBS Universität. „This underpins our plan to repeat the poll on an annual basis. This way we are able to analyse the parameters of the market for distressed real estate assets and assess the significance of non-performing loans.”

Almost 60 leading personalities, such as CEOs, CFOs, and Managing Directors, from 32 commercial real estate financing institutions received the questionnaire. The total assets of the banks participating in the poll add up to approximately € 2,563 bn. representing 72% of all assets from all CRE financers based in Germany. „Our survey shows that the financing landscape is still in a structural change“, emphasises Professor Rottke. "Banks continue to implement regulatory measures and impose higher capital requirements or scale back their activities completely.” The research centre intends to use these findings as a basis for further scientific studies. It is also planned to repeat the poll annually in order to make industry developments and trends transparent and accessible to all stakeholders. For further information, please visit: www.ebs-remi.de/cc_capmarkets/  

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Apply now for the `Aareal Award of Excellence in Real Estate Research 2014´

“Nowadays, academic competition is intense and having won awards gives you more status”, says Dr. Paavo Monkkonen, former Aareal Award winner to encourage readers in applying for the award.

“I think that the award was helpful in validating my position, as I was a recent hire, and made my colleagues respect me more”, says Dr. Monkkonen. In 2010, he won the Aareal Award for his dissertation as an assistant professor at the University of Hong Kong.

Now he is working in the Department of Urban Planning at the UCLA Luskin School of Public Affairs, where he teaches courses on housing markets and policy, economics, research methods, and global urban segregation

The Aareal Award of Excellence in Real Estate Research has been awarded since 2008 by the Real Estate Management Institute (REMI) of EBS Business School and Aareal Bank AG, in recognition of outstanding scientific research carried out in the field of real estate economics. The closing date for submissions is 15 November 2013. The topics are: property financing, real estate management and sustainability/environmental efficiency in the real estate sector. The prizes will be awarded on 28 February 2014. Further info at: http://www.aareal-award.com/en/

For further information email Anke Bandorski (anke.bandorski@ebs.edu ) or please call +49 611 7102 1228. To join the facebook community please click here.

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ULI School of Leadership: Megatrends and their effect on leadership in the real estate industry

ULI Germany will hold the second ULI School of Leadership in cooperation with the EBS Business School from November 14 until November 16, 2013. As the first and oldest private Business School in Germany, EBS has examined in depth the massive shifts in the corporate environment originated by the latest financial crisis as well as the future challenges industry leaders are facing.

A new system of corporate values has emerged, reflected in revised management and organizational structures with a shift from company profits towards economic benefits and from performance related management to future oriented leadership. This 3-day ULI School of Leadership program is a unique opportunity to learn from renowned academic and professional experts on leadership in a fast changing global economic frame with a focus on Stakeholder Management, Life Leadership, Change Management and Conflict Management.

To ensure a high quality program the participation is limited to 18 people. The courses will be held in English. A minimum of 3 to 5 years working experience in a leading/managerial position in the real estate industry – public or private – are required. Apply now and reserve your place for this unique opportunity to combine knowledge transfer from renowned experts in a prestigious academic environment with an exclusive selection of participants.

For more information please visit: http://www.ebs-remi.de/uli_school/

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Inaugural lecture: Professor Dr Alexander Goepfert speaks about the election issue of limiting rents to affordable levels

Does German Constitutional Law draw the line for the German Bundestag on tighter protection for tenants of rented properties? This was the question the Dusseldorf lawyer Professor Alexander Goepfert addressed in his inaugural lecture as Honorary Professor of EBS Universität in September. Goepfert, a recognized real estate lawyer, has been lecturing at the EBS Real Estate Management Institute (REMI) since 2007. Besides teaching, he is also actively engaged at EBS Universität as Director of the Competence Center for Real Estate Law.

Professor Gerrick Freiherr von Hoyningen-Huene, spokesperson for the University Executive Board and Dean of EBS Law School, underlined in his welcome address how Professor Goepfert personifies like no other the interdisciplinary cooperation between EBS Business School and EBS Law School. He represents and brings together the fields of business and law; reason enough for both faculties to recommend Goepfert's appointment as Honorary Professor – for the first time in the history of the still young University. Professor Nico B. Rottke, Director of REMI, held the commendation speech. He paid tribute to Alexander Goepfert's achievements from both an academic and personal perspective, and not only for the real estate industry as a whole but also with regard to the development and strengthening of the Real Estate Management Institute. Read more…/

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Professor Rolf Wolff becomes new President of EBS Universität

Professor Rolf Wolff is the new President and CEO of EBS Universität für Wirtschaft und Recht in Wiesbaden. On October 8, the University Senate unanimously elected the 60-year old to the office of President for a period of five years. The Supervisory Board appointed him Managing Director and CEO. After being vacant for seven months, the top position in the academic and corporate management of the private university has now been filled.

Born in Wuppertal in 1953, Professor Wolff was President of the School of Business, Economics and Law in Gothenburg from 2000 to 2010. The School at the University of Gothenburg enjoys partial autonomy and, just like EBS Universität, builds on the twofold combination of a business and a law faculty.

Under his direction the School emerged from a difficult economic situation to position itself as one of the most successful university schools in its field in Scandinavia and now enjoys a solid financial basis. Wolff had previously headed institutes in Gothenburg, Copenhagen and Flensburg. Read more…/

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