Allan Saunderson is managing editor of Property Finance Europe and a contributor to GlobeSt.com.

DUSSELDORF, GERMANY-Private real estate trading group WGF has been approached with a large number of property assets over the last few months which present very strong investment opportunities, says incoming board member Raffaele Lino.

Lino, who joined the WGF board at the start of this month from DTZ Germany, told PFE that the economic crisis is placing increasing pressure on sellers, who previously had been reluctant to dispose of investment real estate. "We have been approached with probably over €300 million in assets from sellers who are prepared to take some pretty attractive prices," Lino said. "Many of them simply want to exit at almost any cost."

WGF recently announced redemption of its first mortgage bond in full at maturity and on schedule, a €20 million issue made in July 2004 and carrying a 6.35% coupon. Five years ago, the issue was Germany's first private placement securitised mortgage loan outside the Pfandbrief covered bond system. WGF has subsequently issued three similar bonds with varying volumes, and the group now has an outstanding volume totalling €130 million, making WGF the German market leader in the asset class of independent mortgage bonds. WGF Executive Chairman Pino Sergio commented: "We are proud to have justified our investors' trust in us. Throughout the bond term we have paid 6.35% annual interest on appointed payment dates, and in 2006 actually granted an exceptional bonus of 0.5%."