German Desk · Buy-Side Real Estate Advisory

Real Estate Acquisition Advisory Germany

Your Independent Buy-Side Advisor for German Real Estate Investments

  • Buy-Side Only
  • Single Assets & Portfolios
  • Generally from EUR 10m
  • Off-Market Sourcing
  • Financing
  • Transaction Coordination

Fox Capital provides independent buy-side real estate advisory services to international investors, family offices, private equity firms and institutional buyers seeking to acquire commercial real estate assets and portfolios in Germany.

We support our clients throughout the acquisition process – from investment strategy development and identifying suitable acquisition targets to off-market owner approaches, financing coordination, commercial due diligence and transaction execution.

Our services are provided under individually agreed advisory mandates, allowing international investors to establish or expand their investment activities in Germany with dedicated local expertise.

Advisory services

Seven advisory areas for real estate acquisitions

01

Investment Strategy & Acquisition Criteria

Definition of investment objectives, preferred locations, asset classes, return expectations and risk parameters as the basis for a targeted search.

02

German Market Assessment

Commercial analysis of relevant real estate markets, locations and asset classes, including demand drivers, competition and letting prospects.

03

Investment Sourcing & Off-Market Acquisitions

Systematic identification of suitable properties and portfolios, including discreet, confidential approaches to owners outside public marketing processes.

04

Commercial Investment Assessment

Review of cash flows, leases, tenant quality, capital expenditure requirements, market environment and commercial risks of each opportunity.

05

Financing & Capital Structuring

Support in developing financing structures and approaching suitable banks, debt funds and other capital providers.

06

Transaction Advisory & Due Diligence Coordination

Coordination of the commercial review, external advisors, negotiations and transaction preparation through to signing and closing.

07

Ongoing Acquisition Representation

Long-term representation of the investor's interests in Germany and continuous search for suitable investment opportunities.

Asset classes

Asset classes we cover

We support acquisitions of single assets and portfolios generally from a transaction volume of EUR 10 million. We do not publish available properties; opportunities are sourced individually for each mandate.

Office & Commercial Real Estate

Location quality, tenant covenant, WAULT, vacancy risk, ESG and energy performance, re-letting and capex requirements.

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Hotels & Hospitality

Operator quality, lease or management agreement, brand affiliation, operating performance, FF&E and future capex.

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Logistics & Light Industrial

Transport connectivity, building specification, clear height and yard areas, tenant quality, lease terms and alternative use.

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Residential Portfolios

Rental regulation, rent levels relative to market, vacancy, maintenance backlog, energy efficiency and regional demographics.

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Student Housing & Serviced Apartments

University and business location, operator concept, occupancy and pricing model, management and lease structure.

Data Centers & Infrastructure

Secured power capacity, grid connection, cooling, connectivity, planning status and operator requirements.

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Industrial Outdoor Storage

Site size, surfacing and load capacity, access, zoning, environmental status and tenant use.

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Development Projects & Forward Transactions

Planning and building permit status, developer track record, forward funding or forward purchase structure, pre-letting and completion risk.

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Sale-and-Leaseback Investments

Credit quality of the occupier, lease term and indexation, operational importance of the property and third-party usability.

Investing in Germany

Key characteristics of German real estate investments

The seven major markets

Berlin, Hamburg, Munich, Cologne, Frankfurt am Main, Stuttgart and Düsseldorf – commonly referred to as the "Top 7" – are the most liquid investment markets in Germany and are typically the focus of institutional investors.

Regional investment locations

Beyond the Top 7, Germany's polycentric structure offers a broad range of established regional centres and university cities. Depending on asset class and strategy, these locations can be relevant, particularly for logistics, residential and healthcare-related real estate.

Asset deal and share deal

Properties can be acquired directly (asset deal) or by acquiring shares in a property-holding company (share deal). The choice affects tax treatment, liability, financing and documentation and must be assessed for each transaction by the investor's legal and tax advisors.

Acquisition costs

In addition to the purchase price, investors should budget for real estate transfer tax, notary and land register costs, advisory and due diligence costs, financing costs and, where applicable, agency fees.

Real estate transfer tax

Real estate transfer tax (Grunderwerbsteuer) is levied on the acquisition of German property. Rates are set by each federal state and differ between states; specific rules apply to share deals. The applicable tax must be verified for the individual transaction.

Financing for foreign acquirers

German and international lenders finance acquisitions by foreign investors, subject to the property, the investor's financial standing, equity, structure and compliance requirements such as beneficial ownership and source-of-funds documentation.

Due diligence

Commercial, legal, tax, technical and environmental reviews are standard. Fox Capital performs the commercial assessment and coordinates the process; legal, tax and technical reviews are provided by qualified external professionals.

Energy efficiency and capex

Energy performance, ESG requirements and future modernisation needs increasingly influence valuation, financing and letting prospects and should be assessed early in the acquisition process.

Regulatory considerations

Depending on the asset and the investor, aspects such as rental law, planning law, transparency register obligations, anti-money-laundering requirements and, in specific cases, foreign investment screening may be relevant.

Fox Capital does not provide legal or tax advice. Legal and tax matters are handled by qualified external professionals appointed by the investor. This information relates to German law.

Acquisition process

Five steps to a structured acquisition

  1. 01

    Strategy & mandate

    Investment objectives, acquisition criteria and scope of the advisory mandate are agreed in writing.

  2. 02

    Market screening & sourcing

    Analysis of relevant markets, identification of opportunities and discreet owner approaches.

  3. 03

    Commercial assessment

    Review of location, cash flows, leases, capex and risks; preparation of decision-ready information.

  4. 04

    Financing & due diligence

    Development of the financing structure and coordination of legal, tax and technical reviews.

  5. 05

    Negotiation & closing

    Support in negotiations and coordination of signing and closing with the investor's advisors.

Mandate & remuneration

We work on behalf of the investor

Fox Capital acts exclusively in the interest of the investor and does not act as a buyer itself. Advisory services are provided under individually agreed mandates. Fees are agreed individually in writing before the mandate begins. Fox Capital does not offer free investment sourcing.

  • Project-based advisory mandates
  • Ongoing advisory agreements
  • Individual search and acquisition mandates
  • Agreed success-based remuneration

FAQ

FAQ – International buyers

Answers to frequent questions from international investors acquiring real estate in Germany.

How can foreign investors buy commercial real estate in Germany?

Foreign investors can generally acquire German commercial real estate directly or through a suitable holding structure. The purchase agreement must be notarised and ownership is registered in the land register. Structure, tax treatment and any regulatory requirements depend on the individual case and should be assessed with German legal and tax advisors. Fox Capital supports the commercial side – strategy, sourcing, assessment, financing and coordination of the transaction.

Where can I find investment properties in Germany's Top 7 cities?

Opportunities in Berlin, Hamburg, Munich, Cologne, Frankfurt, Stuttgart and Düsseldorf are offered through brokers and transaction advisors, but a share of transactions is completed without public marketing. Under an acquisition mandate, Fox Capital searches the market against your criteria, including discreet approaches to owners.

How can I access off-market properties in Germany?

Off-market opportunities typically arise through local networks, market research and confidential, direct approaches to owners, developers and companies holding real estate. A precise search profile and a credible local representative are essential. Availability of off-market opportunities cannot be guaranteed.

Who can represent an international investor in German property acquisitions?

An independent buy-side advisor can act as the investor's local representative – communicating with owners in German, organising site visits, assessing opportunities and coordinating lawyers, tax advisors, technical consultants and lenders. Fox Capital provides this representation under individually agreed advisory mandates.

What are the main costs of acquiring German real estate?

Besides the purchase price, the main costs are real estate transfer tax (rate set by the federal state), notary and land register costs, legal, tax and technical due diligence, financing costs and, where applicable, advisory or agency fees. The exact amount depends on location, structure and scope and should be budgeted for each transaction.

Can foreign investors obtain financing from German banks?

Yes, foreign investors can obtain financing from German banks and other lenders, subject to the property, the investor's financial standing, available equity, the structure and the lender's compliance requirements. Fox Capital supports the development of the financing structure and approaches suitable capital providers; credit decisions rest with the lender.

How can I find logistics properties for sale in Germany?

Logistics and light industrial properties are offered through specialised brokers, sale-and-leaseback transactions and direct approaches to owners and occupiers. A clear profile covering locations, building specification, lease terms and volume helps to search in a targeted manner. Fox Capital supports logistics acquisitions generally from EUR 10 million.

How can an international family office acquire a German property portfolio?

Typically through a defined strategy for asset classes, regions and ticket sizes, a suitable acquisition structure, financing and a coordinated team of local advisors. Fox Capital supports family offices from sourcing and commercial assessment through to financing and transaction coordination, with structuring handled by the family office's legal and tax advisors.

What does a German buy-side real estate advisor do?

A buy-side advisor represents the investor – not the seller. Tasks include defining acquisition criteria, market analysis, sourcing including off-market approaches, commercial assessment, financing support, coordination of due diligence and support in negotiations through to closing.

How are acquisition advisory mandates remunerated?

Remuneration is agreed individually and in writing before the mandate begins. Depending on scope, it may include project-based fees, ongoing advisory retainers and agreed success-based fees. Fox Capital does not offer free investment sourcing.

Planning a Real Estate Acquisition in Germany?

Tell us about your acquisition criteria, preferred asset classes and investment volume. We will discuss how an individually agreed buy-side mandate can support your objectives.

Discuss Your German Real Estate Acquisition Mandate

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