2.5 billion euros for a real estate portfolio

2.5 billion euros for a real estate portfolio

The CEO of our partner Commerz Real in an interview about the Millenium Deal and ShareYourSpace

 

Interview published in welt.de on 10.10.2019, Michael Fabricius, Senior Editor Real Estate

WELT: Commerz Real recently acquired another stake in Share your space, a sharing platform, a kind of Airbnb for office buildings. Companies can use this platform to temporarily sublet unused space. After losing a permanent workplace, will the permanent office now follow?

Muschter: I wouldn't go that far, but: up to 70 percent of office space in Germany is unused during the week. That doesn't just make commercial sense, but also in terms of sustainable use of space.

WELT: But you don't just want to save the climate, you also want to save costs and earn additional rent.

Muschter: Also, but why should a company forego such revenue opportunities?

WELT: There are likely to be problems with security in particular when people outside the company come and go.

Muschter: We are now experimenting with different security levels and access authorizations in a building, with facial recognition and so on. Of course, trade secrets must be protected. If Airbnb can help strangers move into their apartments, then it must work in the office too.