Monday, 2 February 2026
Union Investment reported new and replacement lettings totalling approximately 890,650 sqm across its portfolio in 2025, resulting in annual net rental income of EUR 282 million for its commercial real estate funds, compared with EUR 273 million in 2024. The occupancy rate, measured by income, remained broadly stable at 95.3 percent at the end of 2025, up slightly from 95.1 percent a year earlier.
The majority of leasing activity took place within the company’s three open-ended real estate funds. The UniImmo: Deutschland fund recorded around 256,550 sqm of lettings, corresponding to annual income of EUR 105.6 million. UniImmo: Europa leased approximately 220,000 sqm, securing annual net rent of EUR 81.8 million, while UniImmo: Global concluded leases for roughly 132,000 sqm, generating annual rental income of EUR 31.7 million.
According to Union Investment Real Estate GmbH management board member Henrike Waldburg, lease renewals and follow-up lettings accounted for 68.7 percent of the total leasing volume, or around 612,000 sqm, reflecting a continued focus on retaining existing tenants in a competitive market environment.
Office properties represented the largest share of lettings in 2025 at around 66 percent, followed by retail assets at approximately 25 percent. The remaining activity was mainly in logistics and hotel properties.
Among the larger transactions during the year was a lease agreement with law firm Clifford Chance for the entire 11,000 sqm of office space at 59 Boulevard Haussmann in Paris, starting in 2027 for a term of 12 years. The building, constructed in 1927 and held in the UniImmo: Deutschland fund since 2021, is scheduled for renovation and restructuring by 2027. In Brisbane, Flight Centre Travel Group extended its lease in the Southpoint office building by 10 years for around 16,200 sqm; the asset has been part of the UniImmo: Europa portfolio since 2014. In Hamburg’s Wandsbek Markt district, Union Investment signed a lease with the Free and Hanseatic City of Hamburg for approximately 11,400 sqm in a former Karstadt property held within the UniImmo: Deutschland fund.
