Mid-Year 2026: Interim Assessment in a Challenging Market Environment

The first half of 2026 was marked by high interest rates, subdued transaction activity, and more challenging financing conditions. Many decisions became more complex, while at the same time new opportunities arose for active asset management and targeted transactions.

At the start of the year, a property in North Rhine-Westphalia was successfully sold. This was followed in late June by the sale of another apartment building from the portfolio of a British client. In addition, several apartments in Berlin-Pankow were notarized.

Protect Assets and Address Risks Early

A particular focus was placed on stabilizing the portfolio. In Berlin-Buch and Potsdam-Babelsberg, leases were extended early and financing arrangements were restructured. The focus was deliberately not on short-term maximization, but on the resilient, long-term development of the properties.

This approach shapes our current asset management strategy: identifying risks early on, leveraging available flexibility, and developing sustainable solutions in collaboration with tenants, banks, and partners.

ESG also remains an integral part of this economic approach. The realignment of the energy supply in Potsdam combines more predictable costs with measurable CO₂ reductions while also providing insights for the continued management of the portfolio.

Market Monitoring, Networking, and Strategic Dialogue

Even outside of specific projects, engagement with the market remained important. MIPIM in Cannes revealed a market environment that remained cautious yet was also more active. Strong networks and long-standing relationships remain an essential foundation for new approaches and concrete business opportunities, especially during challenging market phases.

With its tenth Private Real Estate Dinner, the network once again made a statement that extended beyond day-to-day operations: A total of 100,000 euros was raised for charity.

The team retreat in Heiligendamm and joint team activities also provided opportunities for strategic reflection. These served to review priorities and sharpen the focus for the second half of the year.

Outlook for the Second Half of 2026

The operating environment remains challenging. At the same time, developments in the first half of the year show that, even in a subdued real estate market, it is possible to execute transactions, stabilize portfolios, and develop new opportunities.

For the second half of the year, the focus will remain on active asset management, targeted transactions, and forward-looking portfolio management.