Local perspective with… Michael Riekert
Featured today from the NAI apollo group, Michael Riekert is based in Germany, and is apollo’s director of global corporate real estate services . He’s been working for apollo for four and a half years, operating from their headquarters in the bustling city of Frankfurt.
NAI apollo has in excess of 30 years of experience with international and national partners, and the team’s goal is to provide expert service at the highest standard. Michael and the team pride themselves on contributing to the company ethos of functioning with “a high degree of dynamism, efficiency, and flexibility”. Though apollo’s knowledge base stretches across office, trade, industry, and residential real estate, Michael’s personal specialties lie in office and logistics assets.
Michael holds a Bachelor of Science in real estate from Nürtingen-Geislingen University. He is an expert in negotiation and financial analysis and has closed an impressive 800,000 RSF of real estate transactions.
Questions & Answers
Q.What does a typical workday look like for you?
On any given day I’ll have numerous calls and meetings, mainly with rental clients and property owners. A lot of the people I work with are looking to sell, lease or buy property for industrial and office purposes, so my focus is on helping them find the ideal premises for those kinds of projects.
Q. Tell me something you love about your job or your location.
I love that you are very independent with a job as a broker. All you really need to make it work is your phone, your laptop, and some good ideas!
Besides that, the top draw of this job for me is the challenge that comes with every new deal. They’re all different, just like the people you’re working with. I love working with people to reach the best solution for everyone involved.
Q. What CRE trend or change are you keeping an eye on at the moment?
I think one of the most interesting trends to keep an eye on is the increasing interest in logistics real estate. There’s been a boom in online retail and the need for logistics companies and premises. I think there’s a lot of opportunities there in the future.
Q. Where will I find you on a typical Saturday morning?
Weekends are family time for me. And with a young son in the mix there definitely isn’t any time for sleeping in, so you’ll usually find me on the playground!
Q. Please tell us a little something about your specialty or a project you’re proud of.
For the last 12 years, I’ve specialized in the lease and sale of logistic assets. So when you asked me where I think the future lies, I’m definitely a bit biased in that direction! The thing is, logistic asset rentals are going through the roof lately – it’s a hidden champion. Here in Germany, cap rates of up to 3.4% are common for well-located, new buildings. The market is growing internationally as well, so it’s a very exciting space to be working in.