TOM June 2020

T
TOPS
M
OF THE MONTH
O
Essential News About The Players In
The Retail Property Market In Germany
THE HOTTEST DEALS +++
INTERVIEWS +++ STATEMENTS
+++ PARTICULARS +++
ANALYSES +++ PROJECTS
presented by HI-HEUTE.DE
June 2020
GfK has monitored retail sales in the EU countries.
Germany is EU tail light
for stationary shopping
New GfK survey on retail trade in Europe
According to the latest GfK
study, the share of retail sales
in private consumption in the
27 EU countries will fall by
1.0 percent in 2019. This means
that EU citizens will spend
an average of 29.9 percent of
their money on stationary retail.
Germany occupies last
place.
There, only 23.7% of consumer
spending is spent on stationary
retail. Online retailing now occupies
a strong position in many
European countries, as the declining
share of retail sales in
private consumption shows.
„In Europe, the stationary retail
sector is facing new challenges“,
explains GfK retail expert
Dr. Johannes Schamel. „A new
ecological awareness is awakening
among the population
and the issue of sustainability
is playing an increasingly important
role. Stationary retailers
must increasingly address these
issues and position themselves
in future in such a way that this
represents a competitive advantage
in competition with online
retailing“.
Against this background, GfK‘s
Geomarketing division has analyzed
the key indicators of the
European retail sector for the
year 2019. In addition to a topic
page on the effects of CO-
VID-19 on the retail sector, the
„Retail in Europe“ study offers
comprehensive trend analyses
for 32 European countries.
In 2019, each citizen of the
EU-27 states had an average of
16,888 euros in purchasing power
at their disposal. This represents
a nominal increase of 3.4
percent compared to the previous
year. Within the EU, Latvia
(+8.5 per cent), Lithuania (+7.6
per cent) and Estonia (+6.0 per
cent) recorded the largest increases
in purchasing power,
which can be attributed, among
other things, to robust economic
growth, tax breaks and an
increase in the minimum wage.
It is true that prices rose somewhat
faster at the end of last year,
driven by price increases for
services.
Nevertheless, inflation for the
year 2019 as a whole was only
1.4 percent in the EU-27 countries,
well below the European
Central Bank‘s target of two
percent.

Page 02 T O M
NEWS June 2020
Breuninger Nuremberg
undergoes major conversion
11,000 square metres of new shopping experience
More fashion, more premium
brands and two new restaurants
- the fashion and lifestyle
company Breuninger is
continuing to invest in stationary
retail in addition to its
online business and is successively
converting its premises
in Nuremberg by September
2020.
Customers expect a greatly expanded
range of premium and
designer brands and two new
Breuninger catering concepts.
More than 11,000 square metres
of sales space will be redesigned
and all conversion
measures are to be completed
by the beginning of September
2020. The store will remain
open during the entire period
and will offer comprehensive
protection within the framework
of the Breuninger hygiene
standard developed in-house,
ensuring a pleasant stay and a
safe shopping experience at the
same time.
The opening of the converted
Breuninger in Nuremberg is rebuilding, then presents an extended
range and new restaurants. Photo: E. Breuninger GmbH & Co. KG
department store, whose new
interior design was created
by the internationally renowned
architectural firm Blocher
Partners, is scheduled for the
beginning of September. Breuninger
has been represented in
Nuremberg with its own department
store since 2003. This
year‘s conversion is a strategic
decision. Breuninger CEO Holger
Blecker: „Nuremberg is an
important location for us; we
feel very comfortable here and
have become at home. Even in
challenging times such as these,
we firmly believe in the stationary
retail sector, which inspires
people with unique product
ranges, a variety of attractive
brands, personal services and
gastronomy offers. It is therefore
a logical consequence for
us to provide our store in Nuremberg
with a correspondingly
high-quality upgrade.
Successful start for
My Outlet & Shopping Center
New brands and gastronomy: Something is happening in Bremerhaven
The Mein Outlet & Shopping
Center in Bremerhaven,
which opened on 20 April, can
look back on a successful start
despite the restrictions imposed
by Corona. A new gastronomy
tenant has also been
announced.
In the meantime all shops are
occupied. Eleven new outlet
brands have already opened their
shops, and well-known tenants
from the center have also adapted
a large part of their product
range to the new outlet concept.
Four other brand partners are
working at full speed behind the
scenes on a new opening. The
outlet has a total of 39 units.
The cult brand GOSCH Sylt
will soon be bringing maritime
delights to Bremerhaven
and expanding the gastronomic
offer with authentic Sylt-style
cuisine. It will be accompanied
by a particularly extensive wine
My Outlet & Shopping Center Bremerhaven got off to a good start.
Photo: My Outlet & Shopping Center Bremerhaven
list. With GOSCH, the center
has gained a partner who will
revitalize the area of the former
Italian „Da Vinci“ and meet the
customer demand for a seafood
offer which has been expressed
many times in the past.
The new restaurant of fish and
delicatessen professional Jürgen
Gosch is currently being built
on an area of almost 400 square
metres. The spacious interior
and additional seats on the piazza
make the offer attractive all
year round. However, the terrace
seats in the outdoor area are
special. There, customers will
soon be able to enjoy the sun‘s
rays or balmy summer nights directly
on the dyke. The opening
is planned for late summer 2020.
The opening will be communicated
in good time via the various
channels.
Shoe company
Deichmann wants to
hold on to its branch
network
The shoe entrepreneur Heinrich
Deichmann announces that
he will not give up any of his
company‘s locations because
of the Corona crisis. He wants
to settle the dispute over rents.
During the lockdown, he had lived
secludedly with his family,
but he drove to the office at the
Essen headquarters every day,
shoe retail entrepreneur Heinrich
Deichmann told the Funke
media group in an interview.
During the peak phase of the
crisis, his company lost almost
its entire turnover. 98 percent of
the 4200 shops in 27 countries
were closed. The online business
could not nearly compensate
for store closures of this
magnitude. „The worst thing“,
said Deichmann, „was that we
did not know how long this state
of affairs would last“.
Fashion chain
Esprit plans to close
50 stores
The Esprit fashion group wants
to close 50 stores, half of its
stores in Germany. And cut
more than 1000 jobs - including
in administration. Esprit, with
its headquarters in Ratingen, is
now in insolvency proceedings.
Like many others, the fashion
chain is suffering from weeks of
store closures due to the Corona
pandemic.
Walthcap has
restructured
management team
In connection with the announced
departure of Dr. Gabriele
Volz at the end of the year, the
Real Asset and Investment Manager
Wealthcap is reorganizing
its management team. Achim
von der Lahr will become managing
director of the company
and will complement Dr. Rainer
Krütten and Sven Markus
Schmitt. Von der Lahr has been
with Wealthcap since November
2019 as General Representative
and Member of the Executive
Board. Prior to this, he was Head
of Multinational Corporates in
the Corporate & Investment
Banking division of UniCredit
Bank AG. In future, he will be
responsible for sales, product
management and marketing as
Managing Director.

Page 03 STATEMENT June 2020
T O M
TOP STATEMENT
JUNE
Lars Jähnichen,
Managing Director
IPH Handelsimmobilien,
Munich (Germany):
„Only through the willingness
to make countercyclical
investments can retail
real estate be repositioned
and thus emerge from
these difficult times stronger.
In this respect, the current
crisis also has something
catalytic about it: it
accelerates developments
that would otherwise have
taken the market years.“

OPENING IN
2022
www.westfield-hamburg.de
www.unibail-rodamco-westfield.de

Page 05 T O M
NEWS June 2020
Sony Center: Architectural
icon celebrates anniversary
Further development of the Berlin mixed-use property planned
On June 14, 2000, the Sony
Center - built according to
the designs of the German-
American star architect
Helmut Jahn - was opened.
Thanks to its futuristic architecture,
open design and use
of natural resources such as
light and air, the Sony Center
is a symbol of the culture
of change in Berlin - and has
long since become an internationally
renowned landmark
of the capital.
The Sony Center was opened
as a trend-setting building complex
that combines working,
living, entertainment and retail
under one roof. Today, with its
spectacular, light-flooded roof
construction and thanks to a
wide range of cultural activities
and ultra-modern office space,
it is well established in the capital.
ATRIZIA AG has sold a portfolio
of seven retail properties
for 96 million euros to the real
estate investment company
Captiva.
The portfolio is leased longterm
and 100 percent to the DIY
chain OBI and has a total rental
space of 71,000 square meters.
The sale follows the conclusion
of several lease extensions for
the portfolio.
Securing the
long-term future
The average remaining term of
the rental agreements has thus
been extended to 12.9 years.
The properties are located at established
sites in Vechta, Neuss,
Schwelm, Siegen-Weidenau,
Haiger, Pirna and Stadtbergen.
Philipp Schaper, Head of Transactions
Europe at PATRIZIA:
In its anniversary year, Berlin‘s Sony Center is setting off into the
future.
Photo: Oxford Properties
„We are pleased that together
with OBI we have succeeded in
securing their future at each of
the locations in the long term.
While OBI was able to create a
It is to Helmut Jahn‘s credit
that the design of the Sony
Center blends in very well with
Berlin‘s Mitte and Potsdamer
Platz, meets urban planning requirements
and gives the building
ensemble an artistic face.
The main feature of Helmut
Jahn‘s design is the oval shape
of the roofed, light-filled forum,
which perfectly highlights
its generous open space.
PATRIZIA sells OBI
portfolio for 96 million euros
Seven properties sold after asset management measures
PATRIZIA has sold seven OBI stores, including the store in Vechta.
Photo: PATRIZIA
sustainable and stable environment
for its business, we were
able to realize added value for
our customers through this
sale“
Gabriele Volz
succeeds Andreas
Muschter at
Commerz Real
Gabriele Volz (WealthCap)
will succeed Andreas Muschter
at Commerz Real. She will
take over the job as CEO from
January. Volz had been Managing
Director at WealthCap since
2009. She is also a member
of the board of directors of the
professional association RICS
and a member of the executive
committee of ZIA. Muschter
had headed the real estate division
of Commerzbank since
2013. His move as CFO to The
Student Hotel, a developer and
operator of hotels, student apartments
and coworking spaces,
became known at the beginning
of the month.
Union Investment
Real Estate expands
management team
Union Investment Real Estate
GmbH is expanding its top management
team. Subject to the
approval of BaFin, Christoph
Holzmann (43) will be appointed
to the management of the
Hamburg-based real estate investment
manager with effect
from July 1. As Chief Operating
Officer (COO), the business
graduate will assume responsibility
for the further development
of business processes in
Union Investment‘s fast-growing
real estate division. His
tasks include in particular the
continuous improvement of the
structural and process organisation.
As a driving force for
change and optimisation, he will
place particular emphasis on digital
transformation.
Digital Real Estate Industry
Day had over
3000 participants
„As a result of the corona crisis,
we will not recognize our dynamic,
lively inner cities everywhere“,
said ZIA President Dr.
Andreas Mattner at the opening
of the first hybrid day of the real
estate industry in front of 50
invited guests in the ZIA capital
city studio and around 3,000
viewers via the digital channels.
The Real Estate Industry Day
is once again the leading event
for politics and the industry this
year.

Realising Retail and
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Page 07 T O M
GUEST CONTRIBUTION
June 2020
Shopping Mall in the Living Room
Guest Contribution by York Friedrich Stahlknecht, Head of Retail at Drees & Sommer
„Hey, Siri, order this from my
grocery list...“ New technologies
make it as easy as possible
for consumers to have their
products delivered directly to
their living room. Providing
the appropriate digital offers
is a challenging and time-consuming
task for retailers who
have so far concentrated primarily
on stationary trade. Fit
for online - a concept that has
confronted retailers with difficult
decisions even before the
Corona crisis.
For stationary trade, the Corona
crisis is an existential challenge.
Some retailers are now forced to
expand their distribution channels
to online shops. Others,
on the other hand, recognized
the astronomical growth of online
retailing years ago and have
been focusing on digital activities
ever since. However, what
becomes a major competitive
advantage in the crisis can become
a problem in normal everyday
life: Many retailers have
invested extensively in e-commerce
platforms in the past, but
have ignored the fact that the
online shop alone is not enough
to ensure a positive buying experience.
Reacting to
customer wishes
with flexibility
Online or stationary? A successful
retailer should not ask
himself this question today, he
should ask himself: What does
my customer want? For most
consumers today, shopping is
primarily about speed, flexibility
and convenience. To meet
these needs, retailers have to
sell the goods or services in parallel
via more than one channel
directly to the customer. The
sensible use of new sales channels
and cross-channel presence
is known as a multi-channel
system. In this sales concept,
the customer can choose his
preferred channel and purchase
the products in stationary trade,
in e-commerce, via social media
or by catalogue. In contrast
to the single-channel principle,
in which there is only a single
touch point between customer
and retailer, the channels in the
York Friedrich Stahlknecht, Head of Retail, Drees & Sommer Germany
multi-channel system function
independently of each other. The
prerequisite: a well thought-out
online-to-offline strategy that
links both shopping worlds.
Online shops in city
centres
Not only enabling different
worlds, but also linking them
In trade policy, the omnichannel
principle is referred to as the
„royal league“: The customer
uses several channels for a purchase
transaction, whereby he
can use some of them simultaneously.
Here, shopping in different
worlds is not only made
possible, the different channels
are also linked with each other.
For example, the customer is
made aware of the product via
social media, places it in his
shopping cart in the app and
carries out the ordering process
in the online shop.
The added value of multi- or
omnichannel systems is often
countered by arguments such
as lack of personnel, cost factors
or respect for change processes.
What is often forgotten
here: The customer is king, and
the customer wants variety, entertainment
and convenience in
the shopping experience. The
more channels the consumer
has access to, the better he or
she can find out about products,
do errands on the go and compare
prices regardless of opening
hours.
Iwt is not only the customer
who benefits from cross-channel
shopping: Retailers expand
the availability of their products,
can offer certain goods
channel-specifically, suggest
better offers to the consumer
and thus develop long-term
customer loyalty. However, it is
essential for this loyalty that the
connection between retailer and
consumer does not only take
place in the digital context. In
the meantime, many large online
retailers are opening pop-up
stores or outlets in city centres
to offer their customers a live
experience with the products.
Some shopping centers now
offer augmented reality events
and virtual tools that allow customers
to bring the shopping
experience into their own four
walls and browse through stores
virtually. Whether new retail
concepts are the shopping mall
in the living room or the online
shop in the city center, it is safe
to say that the shopping experience
is not just a matter of the
shopping mall itself: In the future,
stationary or digital will no
longer be an either-or question
T
TOPS
O M
OF THE MONTH
Essential News About The Players In
The Retail Property Market In Germany
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Page 9 T O M
ANALYSES June 2020
Frequencies in retail locations
almost at pre-corona level
GfK measurements at the end of June give cause for hope
With the spread of COVID-19
in Germany, the number of visitors
to the retail locations in
city centres, shopping centres
and retail parks fell from the
end of February onwards. However,
according to visitor frequency
measurements carried
out by GfK with wetter.com,
the situation has now eased.
The lowest point was reached in
the week following the start of
the nationwide lockdown from
23 to 29 March, when only 41
per cent of the pre-corona frequency
was recorded. Since the
relaxation of measures to contain
the virus, visitor numbers
in all shopping locations are approaching
the levels seen before
the outbreak of the pandemic.
In particular, retail parks are almost
back to pre-corona levels.
Very strong decline
With the start of the lockdown in
the week from 16 to 22 March,
visitor frequency in Germany
declined very sharply in all
shopping locations. This week,
44 percent fewer people visited
retail locations. With the tightening
of contact restrictions, the
frequency in the week from 23
to 29 March even fell 59 percent
below pre-Corona levels. It is
interesting to take a look at the
federal states here: While visits
in Berlin fell most sharply (-63
percent), the decline was least
pronounced in the surrounding
Brandenburg (-45 percent).
„We monitor the number of visitors
to the individual shopping
locations on a daily basis. There
is no question that the corona
virus has had a strong influence
on the shopping behavior
of Germans - and still does,“
comments Filip Vojtech, GfK
expert for retail and fashion &
lifestyle in the geomarketing
sector. „People have been shopping
less frequently and more
cautiously in stationary stores,
especially since the start of the
lockdown, and at the same time
have increasingly shifted their
purchases to online retailing.
The customers have more desire to shop again.
For retailers, this means that
they have to create incentives
through offers, promotions or
the shopping experience in order
to increase visitor frequency
on site again. Above all, however,
the search for highly frequented
and at the same time
target group-specific locations
plays an even more important
role“.
Shopping centers
suffer the most
If we look at the development of
visitor flows broken down into
city centres, shopping centres
and retail parks, a more detailed
picture emerges. Although there
were declines in visitor numbers
in all three shopping locations,
nationwide shopping centres
(-64 percent in the week from
23 to 29 March) and city centre
locations (-59 percent) were
particularly hard hit. In specialty
shopping centers with a local
supply function for the surrounding
area, the frequency in the
same week was 45 percent below
the pre-Corona level.
„One of the reasons why the
number of visitors in city centres
and shopping centres has
fallen so drastically is that these
shopping locations are mainly
occupied by retailers with
goods for medium and longterm
requirements, which had
to close when the lockdown
began,“ says Dr. Hendrik Wagenseil,
GfK expert for Geodata
Science in the Geomarketing division.
„And even in specialist
retail centres, for example, the
textile retailers and DIY stores
that had rented premises there
had to close. Together with the
declining shopping frequency
of the population, this led to less
frequency. At the same time, the
specialty shopping centers have
taken on a central role in the
provision of basic services together
with the local grocery and
drugstore retail trade“.
With the easing of the measures
introduced and the opening of
retail shops under 800 square
metres in the week from 20 to
26 April, the number of visitors
also rose more strongly again.
Nationwide, the retail frequency
increased by 14 percentage
points compared to the previous
week (to 55 percent of the
pre-Corona level). It has been
growing ever since. In the week
from 15 to 21 June, visitor frequency
was only 16 percent
below the pre-corona level.
Among the federal states, Berlin
came in last with 27 percent below
pre-corona level that week.
In Mecklenburg-Western Pomerania,
on the other hand, eleven
percent more visitors were measured
at all shopping locations
than at the end of February.
Figures on
the rise again
If you take a closer look at the
three shopping locations individually,
you will see that
the number of visitors to retail
parks in particular has almost
completely recovered. Nationwide,
only seven percent fewer
people were on the move there
in the week from 15 to 21 June
than before the pandemic; three
weeks earlier the difference was
only four percent. The figures in
German city centres (-16 percent
in the week from 15 to 21
June) and shopping centres (-19
percent) are also continuing to
rise and are approaching precorona
levels again - albeit at a
much slower pace.

From local hero ...
Link your ideas
to our investment
spectrum
As one of Europe’s leading investment managers for
retail property, we are committed to further international
expansion of our portfolio. We are interested
in all types of retail property – from commercial
buildings to retail parks and shopping centres. We
welcome your ideas – let‘s do business!
union-investment.de/realestate
... to shopping star

Page 11 T O M
INTERVIEW
June 2020
„Yardi‘s technology roadmap
has produced numerous innovations“
Interview with Neal Gemassmer, Vice President of the software company
The American software group
Yardi, which is also based
in Germany (Mainz), is primarily
engaged in the design,
development and support
of software solutions for investment
and property management
in the real estate
industry. The company offers
comprehensive business solutions
for every segment of the
industry. In an interview, Neal
Gemassmer, Vice President of
the company, talks about the
technological development in
Yardi‘s almost forty-year history,
provides exciting insights
into the latest innovations and
initiatives in the field of energy
efficiency and ventures a
look at the development of the
industry in the next two to five
years.
Yardi started as a small software
start-up and is now in its
fourth decade of company history.
How has the company‘s
technology evolved during
this time?
Neal Gemassmer: A lot has
changed since 1984. Yardi‘s
technology roadmap has produced
numerous innovations.
Our focus has not changed and
remains to meet the evolving
needs of the real estate industry
and to help our customers provide
the best possible service and
improve their business results.
Yardi was one of the first startups
to focus on property management
software. At that
time, the focus was on the core
areas of property management
and accounting. Since then, we
have greatly expanded our product
and service offerings.
We were one of the first real
estate technology companies to
move to the cloud and our SaaS
model has proven to be extremely
successful. With a focus
on mobility, connectivity and
efficiency for users, we now offer
a unique role-based ecosystem
of solutions and interfaces
for key positions in property
management. Whether you are
an asset manager, investment
manager, property manager, or
marketer, Yardi offers a variety
of solutions designed to connect
Neal Gemassmer, Vice President Yardi.
teams throughout the property
lifecycle using a single source
of data.
Today, Yardi employs over
7,000 people worldwide and is
active in more than 80 countries.
The company‘s customers
include investors and operators
of various classes of real estate,
from fund and property management
to commercial real estate
including offices, industrial and
retail properties, co-working
and flexible workplaces, residential
properties and student
housing.
Can you give us an insight into
the latest innovations at Yardi?
What do you think is the
most exciting product in the
pipeline?
Neal Gemassmer: We have
Photo: Yardi
creatively summarized Yardi‘s
technology solutions according
to four essential principles:
- Fully networked property management
and accounting: Core
solutions for property management
and accounting such as
Yardi Procure to Pay for paperless
billing,
- E-Commerce: Café products
that provide a great user experience
for external users such as
prospects or suppliers,
- Operational Performance:
Technologies that improve business
processes, such as actionable
data analysis and
- Building operation: Technologies
that can be connected to
IoT and building infrastructure.
With the optimal combination
of Yardi solutions, our customers
can create a technology
ecosystem that increases satisfaction,
revenue, and operational
and business efficiency.
It is imperative that we enable
our customers to work flexibly,
whether they work on-site or remotely.
We continue to invest in
our mobile apps so that users of
our technology can access their
data easily and role-based on
the go. We also offer apps and
portals targeted at real estate
companies‘ customers and are
constantly developing them further.
Our tenant app is now also
available as a white-label version,
making our app your app.
One of the main topics of recent
times was the introduction
of our new asset management
solution Yardi Elevate. Yardi
Elevate provides detailed operational
information and forward-looking
forecasts with
recommendations for action,
helping teams to improve asset
performance by reducing costs,
minimizing risk and increasing
revenue. Elevate uses portfolio
data and AI to improve operational
performance and is
designed to improve strategic
decision-making in asset management.
How does Yardi differ from
competitors?
Neal Gemassmer: What sets
us apart in the market is the
provision of truly networked
and integrated technologies, all
developed internally and accessible
in real time from a single
cloud-based platform.
It is important to us to bring the
benefits of a fully networked
system, exceptional data security
and low total cost of ownership
to our customers. Apart
from that, we also understand
that some customers want the
option of continuing to use other
technologies. Of course we
are happy to support them in
this.
With Yardi Aspire, formerly
Yardi eLearning, we also offer
our customers a comprehensive
training platform. The Aspire
platform allows for verifiable
knowledge sharing and training
and promotes the personal development
of the employees in
our customers‘ teams.

Page 13 T O M
NEWS June 2020
URW has a new
personnel manager
Claudia Karschti replaces Bruno Bittis
On 1 June Claudia Karschti
took over responsibility for
Human Resources at Unibail-
Rodamco-Westfield (URW)
Germany.
Claudia Karschti was most recently
with Yum! Restaurants
International as Head of People
& Culture KFC for the region
D-A-CH/Denmark and member
of the management board.
Her previous positions include
HR Business Partner at Fressnapf
Holding and HR Manager
at Santander Consumer Bank.
Claudia Karschti studied social
sciences with a degree in economic
sociology and economic
psychology at the University of
Duisburg-Essen.
Extensive range
of tasks
Claudia Karschti takes over
this task from Bruno Bittis,
who has been with the company
since 2008 and has had
a significant influence on the
New Director of Human Resources at URW Germany: Claudia
Karschti. Photo: KFC According to police, about 40
shops were destroyed during
areas of personnel and organisation.
As head of the Hu-
development and the field of
URW Academy, organizational
the heavy riots in Stuttgart this
weekend, and nine shops were
man Resources team, Claudia corporate culture in Germany.
looted. Among others, the sneaker
store Snipes was affected.
Karschti will be responsible
for all personnel management, In addition, Claudia Karschti
Breuninger was also damaged
recruitment, the further education
and training system via the management team in Germany.
will be part of URW‘s country
and goods were stolen. At the
Gerber shopping centre, one of
the entrances was almost completely
destroyed.
Delf Neumann joins Vapiano
Founder of the Gastro & Soul Group Partner for Germany
The Hildesheim Gastro &
Soul Group, which has been
successful with the freestander
format Cafe Del Sol and
other concepts since 2001, becomes
a new strategic partner
of the investor consortium
around Mario C. Bauer in the
reconstruction of Vapiano in
Germany under the leadership
of founder Delf Neumann.
Delf Neumann from the Gastro
& Soul Group joins Vapiano.
Photo: Vapiano
A few days ago, the group of
well-known European gastronomy
professionals was awarded
the contract to purchase
large parts of the insolvent
Vapiano SE. Now it is certain:
Delf Neumann will take over
- subject to the approval of the
deal by the cartel authority - the
approximately 30 German ownoperated
restaurants and will
also participate in the international
franchise business.
For Mario C. Bauer, Delf Neumann,
founder and managing
director of Gastro & Soul, is the
absolute partner of choice: „As
the home of Vapiano, Germany
is of utmost importance for the
new start of the brand.
Absolute dream
partner
It therefore seems sensible to us
to rely on the support of entrepreneurs
who share our values
and have a lot of experience
in system gastronomy. This is
why, in this very dynamic negotiation
process, we decided
at short notice and by mutual
agreement to make a correction
regarding our partner in Germany
and chose Delf Neumann
and its Gastro & Soul Group
as master licensee,“ Bauer explains.
„The decisive factor for
us was his unique know-how in
the development and multiplication
of successful gastronomic
concepts.
Drees & Sommer with
almost 18 percent
sales growth in 2019
Drees & Sommer SE, headquartered
in Stuttgart, generated
sales of 500.1 million euros in
fiscal year 2019. Compared with
the previous year, sales rose by
75.2 million euros, representing
an increase of almost 18 percent.
The profit of the internationally
active planning and consulting
company for the construction
and real estate sector increased
by around 19 percent to 56.7
million euros.
The sustainable and digital
orientation, both in terms of
customer projects and the company
itself, contributed significantly
to the result. In addition,
the range of services, which
covers the entire real estate life
cycle, generated strong demand.
After riots: Retail
trade in Stuttgart
severely damaged
Despite Corona: BNP
Paribas Real Estate
succeeds in several
major transactions
Even in the current unprecedented
global crisis situation, BNP
Paribas Real Estate, as one of
the leading international real estate
service providers, remains
a reliable partner for employees
and clients.
Despite the difficult market environment,
the consultant was
able to conclude several major
deals throughout Europe. For
example, BNP Paribas signed
REIM transactions with a total
volume of over 590 million
euros throughout Europe.
A total of ten major deals were
concluded in Germany (Munich
and Bremen), France (Paris and
surrounding areas) and Italy in
the office, logistics, retail and
campsite segments.

www.wisag.de
Your shopping centre in the best hands
Perfect cleanliness, uncompromising security and optimum service:
all this keeps not only the customers satisfied, but also tenants and
owners. With our tailored solutions and experience, you will benefit
from optimum management costs. And at all times, we have value
retention and the sustained development of your centre in mind.
We go one step further for you.
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Tel. +49 162 7861-324 joaquin.jimenez.zabala@wisag.de

Page 15 T O M
NEWS June 2020
Foundation stone
laid for Viktoria Karree
Many new projects in the city centre of Bochum
The foundation stone has
just been laid for the Viktoria
Karree business district
in Bochum. The 160 million
euro project of the Hamburg
HBB is being built on the site
of the former justice centre
on Viktoriastrasse in the city
centre.
There HBB is building an open
business quarter with three
multi-storey buildings and
38,000 square metres of rental
space plus an underground car
park with more than 500 parking
spaces. The project is part
of the city center offensive of
the city of Bochum.
Construction work
in full swing
The construction site is very
busy. Since February 2019,
the old buildings of the Justice
Centre have been professionally
cleaned of pollutants
and then demolished. Now the
This is how Bochum‘s Viktoria Karree should look when it is completed.
Visualization: HBB / RKW Architecture
company August Prien is taking
over the construction site from
the demolition company Moß.
August Prien works in a consortium
with the company Hans
Lamers, the facades will be built
by the company Medicke.
The total construction time will
be more than two years - the
completion of the complex overall
project with various structures
is scheduled for 2022. The
project already has a high occupancy
rate.
Among others, Rewe Dortmund,
easy Apotheke, Decathlon
Sport, the Hotel Holiday
Inn Express with the operator
Tristar, Regus Co-Working, the
city of Bochum and Bochum
Wirtschaftsentwicklung as car
park operator have already been
determined as tenants.
Drees & Sommer and BOAG merge
Companies strengthen presence in the Netherlands
Since 1 July, BOAG Advies en
Management B.V. has been a
wholly owned subsidiary of
Drees & Sommer SE. With
50 employees, BOAG will
be integrated into Drees &
Sommer Netherlands, which
has the same number of employees.
By merging with the established
consulting and project management
office BOAG, Drees
& Sommer strengthens its presence
in the Netherlands and
expands its range of services,
particularly in the education,
healthcare, retail and residential
construction sectors.
Since July 1, the new management
team of Drees & Sommer
Netherlands has consisted
of Michel de Haan, Chairman
of the Executive Board, Kurt
van Dijk, Ton Heijmans, André
Leeuwis and Johan de Vries.
„The merger with BOAG is an
Drees & Sommer and BOAG have joined forces - here the management
team. Photo: Drees & Sommer
important and consistent step,
as it will enable us to further
expand our market position in
the Netherlands and Europe,“
explains Michel de Haan, Partner
of Drees & Sommer SE and
Managing Director of Drees &
Sommer Netherlands. Ton Heijmans,
Managing Director of
Drees & Sommer Netherlands,
adds: „Together we are able to
offer our customers in the Netherlands
and internationally a
broader consulting and service
package. At the same time, we
are creating an attractive perspective
for our current and future
employees“.
BBE survey: clear
majority does not
consider a reduction
in value-added tax to
be sensible
The reduction in value-added
tax from 19 to 16 percent, which
comes into force on 1 July, is a
core element of the second Corona
Tax Assistance Act. The tax
relief is intended to give traders
and consumers urgently needed
liquidity for consumption.
While some are still arguing
about whether the measure will
serve its purpose and customers
will return to the shops in the second
half of the year, the other
side doubts that the financially
strapped trade will really pass
the savings on to consumers.
BBE Handelsberatung from
Munich has conducted a survey
of just under 300 stationary retailers.
According to the survey,
the sweeping accusation that
companies would rather put the
tax cut into their own pockets
only applies to a small proportion
of retailers. A total of 59 percent
of the companies surveyed
stated that they would pass on
the relief to their customers either
in full or in part. Only 19.5
percent of the companies would
prefer to keep the gift from the
tax authorities to themselves,
while around 21.5 percent are
still unsure about the question.
69.6 percent do not consider the
associated additional expenditure
due to the tax reduction to
be proportionate. Overall, 79.4
percent do not consider the reduction
in VAT to be sensible.
Galeria Karstadt
Kaufhof: 56 department
stores must
close
The crisis-ridden Galeria Karstadt
Kaufhof group has apparently
agreed on a restructuring
concept. According to the plan,
56 of the 172 stores are to be
closed. The collective bargaining
partners have agreed on the
reorganization concept of the
department store group Galeria
Karstadt Kaufhof. Which stores
are affected has not yet been announced,
however. According
to initial estimates, about 5000
of the remaining 35,000 jobs
would be at risk. A social plan is
to be introduced for the affected
employees.

Page 17 T O M
MAP OF THE MONTH June 2020
Retail share of private consumption, Europe 2019
GfK’s Map of the Month for June illustrates the brick-andmortar
retail turnover share of private consumption in Europe
in 2019. According to GfK’s latest retail study, the
retail turnover share of overall consumer expenditures in
the EU-27 decreased by 1.0 percent last year to 29.9 percent.
Contributing factors to this decline include competition
from online retail and a trend toward more spending
on services. Among the countries considered by the study,
Hungary has the highest share of brick-and-mortar spending
at 50.0 percent. Last place goes to Germany, where
consumers devote just 23.7 percent of their funds to brickand-mortar
retail.