1.
Reasons for the acquisition of real estate companies
2005–2016
EY Real Estate — M&A infographic
Dietmar Fischer, Partner
Tel. +49 (0) 6196 996 – 24547
dietmar.fischer@de.ey.com
Christina Angermeier, Manager
Tel. +49 (0) 6196 996 – 17882
christina.angermeier@de.ey.com
Dr. Dominique Pfrang, Manager
Tel. +49 (0) 6196 996 – 13740
dominique.pfrang@de.ey.com
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Property
companies
Private
equity
Asset,
facility &
property
manager
Public
companies
Others* Property
funds &
REITs
Financial
institutions
&
insurances
DeveloperProperty
*e.g. consulting firms, PropTechs, non-property companies
Source: Merger Markets 2016, Thomson Reuters 2016, EY Research 2016; n = 288.
All figures refer to the total number of real estate company transactions.
• Property funds, REITs, financial institutions and insurances predominantly acquire real
estate companies as capital investments
• Property companies, asset, facility and property managers as well as developers
focus on growth strategies that are based on competitor takeovers and the extension
of their product and service range
Capital investments as
main driver of company
acquisitions
Increasing challenges in a
post crisis market
environment
foster competitor
takeovers
Strategic objectives
dominate
capital investments as
main
acquisition reasons
Penetration
of the market
Entering
new markets
Capital
investment
Extension of
product range
Diversification
2005–2008 2009–2012 2013–2016
34% 53% 48%
48%
39%
33%
16%
8% 8%
2%
8%
2%