Investment summary 2
Signs of stabilisation 10
Germany has P/B ratio below
UK and France 14
Balance sheet key concern for
market but not for us 18
Operational business better
than the mood 21
Company profiles 23
Alstria Office REIT 24
Ca Immobilien Anlagen 28
Colonia Real Estate 32
Conwert Immobilien Invest 36
Deutsche Euroshop 40
Deutsche Wohnen 44
Dic Asset 55
Gagfah 59
IVG Immobilien 63
VIB Vermoegen 67
Disclosure appendix 72
Disclaimer 75
Contents