Fcr Immobilien

What Fcr Immobilien does

FCR Immobilien AG is a Munich/Pullach-based German commercial real estate investment company that acquires, holds, and develops shopping centers and specialist retail parks (Einkaufs- und Fachmarktzentren) at established secondary locations throughout Germany. The company operates as a Bestandshalter (property holder) and Bestandsentwickler (portfolio developer) with a portfolio of more than 80 rental properties and annual rental income exceeding €31 million, anchored predominantly by creditworthy food-market tenants. Its market capitalization exceeds €111 million and the share trades on the Frankfurt Stock Exchange (XETRA: FC9).

The business model is rental-income driven and asset-heavy: cash flow is generated by leasing retail space to a diversified base of tenants under individual long-term agreements, with growth funded primarily through capital-market instruments rather than customer revenue. FCR has issued a recurring series of corporate bonds — including the 7.10% 2016/2021, 4.25% 2015/2020, 5.25% 2019/2024, 6.00% 2018/2023, 7.25% 2023/2028, and the current 6.25% 2025/2030 — and conducted a capital increase in 2021, all to support portfolio acquisitions. Reported FY2024 EBT of €23.1 million and 58% revenue growth in 2023 confirm profitable scaling.

Go-to-market is investor- and capital-market-led rather than customer-acquisition-led. The company maintains a dedicated Investor Relations portal with presentations, financial reports, a financial calendar, AGM materials, bond prospectuses, and analyst coverage, supplemented by press releases distributed through EQS Newswire and visibility across LinkedIn, Facebook, X, YouTube, and Instagram. The leadership team is small — founder and CEO Falk Raudies, CFO Christoph Schillmaier, and a three-person Supervisory Board chaired by Prof. Dr. Franz-Joseph Busse — consistent with a lean holding-company structure managing a capital-markets-financed retail property portfolio.

Name

Fcr Immobilien

Legal name

FCR Immobilien AG

Website

https://fcr-immobilien.de

Company type

Public

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

FCR Immobilien AG is a German commercial real estate company that acquires, holds, and develops shopping and specialist retail centers at secondary locations in Germany. It operates a portfolio of over 80 rental properties generating more than €31 million in annual rental income, financed via Frankfurt-listed shares and corporate bonds.

Ownership category

akta.pro rank

Headquarters

HQ city

Munich

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Others

Revenue model

1. Commercial Property Rental Income: FCR Immobilien AG generates revenue primarily through rental income from its portfolio of commercial properties. The company holds retail and specialist shopping centers across Germany and collects annual rental payments from tenants. Anchor tenants are predominantly creditworthy food markets. The company reports annual rental income exceeding €31 million.
2. Bond Issuance (Debt Capital Markets): FCR Immobilien AG raises capital through the issuance of bonds (Schuldverschreibungen). The current live bond is the 6.25%-Anleihe 2025/2030 with an issuance volume of up to €30 million. Prior bonds included 7.25%-Anleihe 2023-2028, 4.25%-Anleihe 2020-2025, 5.25%-Anleihe 2019-2024, 6.00%-Anleihe 2018-2023, and 7.10%-Anleihe 2016-2021.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels8 records

Core offering

FCR Immobilien AG is a German real estate holding and portfolio development company that acquires, holds, and manages shopping centers and specialist retail parks at established secondary locations across Germany. The company acts as a Bestandshalter (property holder) and Bestandsentwickler (property developer) for commercial retail real estate, with creditworthy food markets as anchor tenants. In addition to its core real estate portfolio business, FCR raises capital through the issuance of corporate bonds listed on the Frankfurt Stock Exchange.

Product overview

FCR Immobilien AG is a Germany-based real estate holding company and investor specializing in commercial retail properties. The company operates as a Bestandshalter (property holder) and Bestandsentwickler (property developer) for Handelsimmobilien (commercial real estate), with a focus on Einkaufs- (shopping) and Fachmarktzentren (specialist retail centers) at established secondary locations throughout Germany. Their core portfolio product encompasses over 80 rental properties with annual rental income exceeding 31 million euros and a market capitalization of over 111 million euros. The company also offers investment products through corporate bonds, including the current 6.25%-Anleihe 2025/2030 with an emission volume of up to 30 million euros.

Differentiator

Problem solved

Functional benefit

Products and services

• FCR Immobilien AG - Immobilienportfolio (Real Estate Portfolio) Commercial real estate portfolio of shopping centers and specialist retail parks at established secondary locations across Germany, operated as a property holding and development business (Bestandshalter und Bestandsentwickler) with creditworthy food markets as anchor tenants. Comprises over 80 rental properties generating over €31 million in annual rental income.
• FCR Immobilien AG - 6,25%-Anleihe 2025/2030 (Corporate Bond 2025/2030) Corporate bond issued by FCR Immobilien AG with a 6.25% annual interest rate maturing in 2030, with an emission volume of up to €30 million. Listed on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange and offered to investors as a fixed-income investment product.

Quantifiable outcome

• EBT of €23.1 million for financial year 2024
• +2 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Vonovia SE: Europe's largest residential real estate company with growing German retail exposure (e.g., former TLG portfolio). Comparable German-listed real estate operating model but with a residential-led rather than retail-led focus and a vastly larger balance sheet.
• Aroundtown SA: Large European commercial real estate company with significant German office, hotel, and retail exposure. Comparable asset class mix but operates at substantially greater scale and broader geographic reach than FCR.
• TAG Immobilien AG: German-listed real estate company focused on residential properties in German metropolitan regions. Comparable in being a German-listed property operator with capital-markets access, though primarily residential rather than retail.

Direct peers

• Deutsche EuroShop AG: Invests exclusively in shopping centers across Germany and Europe. Direct peer in shopping-center investing, though larger and focused on larger assets than FCR's secondary-location strategy.
• DIC Asset AG: German commercial real estate company actively managing and acquiring office, retail, and logistics properties across Germany. Overlaps with FCR in German commercial property investing and active portfolio management.
• Hamborner REIT AG: German REIT focused on retail and office properties in German metropolitan areas. Comparable business model (long-term leases, German portfolio) and similar small-cap status to FCR.
• Fair Value REIT-AG: German retail and office REIT with a focus on German retail properties. Closely comparable in property type, German geographic focus, and small-mid-cap REIT structure.
• Deutsche Konsum REIT-AG: German retail-focused REIT investing in local retail properties and supermarkets in secondary locations. Highly comparable to FCR in asset class (food-anchored retail), geography (Germany), and tenant strategy.

Regional players

• S IMMO AG: Austrian real estate investment company with German and CEE property exposure. Comparable in being a German-speaking, listed retail/commercial real estate operator, but with a different primary geographic footprint (Austria/CEE vs. Germany-only).
• Peach Property Group AG: Swiss-listed residential real estate company focused on German housing. Comparable German-language, listed mid-cap real estate operator, though primarily residential rather than retail-focused like FCR.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/fcr_immobilien

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fcr Immobilien