- The valuation team of Cushman & Wakefield is increasingly focussing on open-ended property funds with worldwide portfolios.
- Approximately three years after the Investment Act was replaced by the new Capital Investment Code, the need is rising for valuation platforms acting on a global basis in this sector of the property market.
The property consultant Cushman & Wakefield is strengthening its area of business to value the properties in open funds. Martin Belik, Head of the Valuation Department at Cushman & Wakefield in Germany, explains: “Since the new Capital Investment Code (KAGB) entered into force about three years ago, there have been some major changes regarding open-ended property funds. The traditional committees of experts have been given up and replaced by valuers, who act as natural persons or legal entities. This has led to new opportunities for global platforms.”
At present a range of new property funds is being established, which are frequently active not only in Germany but in Europe or even worldwide. Here international valuation teams can provide the property fund with competent, efficient, environmentally friendly and continually up-to-date expertise for the local market. In addition, because in many cases these funds operate from Germany, use German valuation standards and prefer a central contact in Germany, Martin Belik regards this as definitely an optimal time for expanding his Department further.
A global property company like Cushman & Wakefield can consult the appropriate valuer for every property fund in the countries and regions where the properties are located. The global platform offers approximately 2,000 local valuers with access to the experienced network.
The valuation team of Cushman & Wakefield in Germany under the management of Martin Belik specialises in the retail, office, industrial, logistics, residential, hotels and health care properties sectors, valuing both individual properties as well as extensive portfolios and was again awarded the Euromoney Real Estate Award 2016 as the best valuation team in Germany.