German property giant IVG Immobilien swung back into the black in in the first quarter of 2010 for the first time since Q2 2008 with a net profit of EUR 10.2 mln. This compares to a net loss of EUR 44.8 mln in the year-earlier period. The profit reflected a substantial improvement in EBIT (earnings before interest and tax) of EUR 71.9 mln from EUR 16.9 mln a year ago.
Ares, Coima and MEAG are three investors which have closed multiple acquisitions in the last few weeks.
