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Becken appoints CFO and creates new business unit

23/01/2019 Hamburg-based developer and asset manager Becken has appointed Hauke Rahner (39) to the position of CFO. He has already been leading the financing unit since 2017 and has been an authorized representative for the company. In addition, Becken has established a new business unit for office leasing and residential sales together with Becken Estates. The [...]

TLG: Dayan prepares to take over supervisory board

22/01/2019 Amir Dayan’s Ouram Holding is pushing to replace most of the members on the supervisory board of TLG Immobilien. The holding has requested that chairman Michael Zahn, deputy chairman Michael Bütter, and Helmut Ullrich be dismissed at an extraordinary general meeting. Members Sascha Hettrich and Stefan E. Kowsk, who were appointed to the board after [...]

Union Investment: Lease rate at 96.6 %

22/01/2019 Union Investment signed new leases and extensions for 854,000 sqm of its real estate funds last year. The total lease rate is now at 96.6 %, which matches last year’s level (96.7 %). In Germany, contracts were signed for 475,000 sqm, including new leases for 73,000 sqm. The German office portfolio, the company reports, has [...]

DIC Asset records double digit growth and reduces vacancies

22/01/2019 According to preliminary figures, DIC Asset increased its FFO this past year by 13 % to €68mn. In a release, the company particularly emphasizes the value increase of €160mn in their own commercial portfolio. This increase, DIC states, was mainly due to a reduction of the vacancy rate by nearly one quarter to currently 7.2 [...]

Deutsche Hypo Index starts with a plus

22/01/2019 The real estate climate index of Deutsche Hypo started into the new year with a plus of 4.4 % to 123 points. This balances out the losses of December (-4.3 %) and brings it back to the level of November 2018. Among the individual asset classes, the office climate saw the largest rise at +6.2 [...]

ZBI takes over housing portfolio in Northern Germany from Eckpfeiler

21/01/2019 ZBI of Erlangen is acquiring about 1,000 apartments in the north of Germany from Eckpfeiler Immobilien Group. Another 160 units are going to an unnamed buyer. The apartments are part of a portfolio originally consisting of about 1,800 units, which Eckpfeiler had bought in 2015 and 2016 from the non-core holdings of a listed company. According [...]

Commerz Real reports record transaction volume and wants to become more sustainable

21/01/2019 In 2018, Commerz Real bought 18 properties and four wind parks for a total of €3.5bn, and sold 22 assets worth €1.5bn for its funds. The company reports this as a new record transaction volume. A little more than half of the sales and acquisitions – including the largest deals, Frankfurt’s “Omniturm” and the New [...]

Aermont fund to become majority owner of Wilma

18/01/2019 The real estate fund Aermont Capital Real Estate Fund IV is buying a majority share of housing developer Wilma Immobilien. The contract was signed in December; the transaction will most likely be finalized this quarter. “Aermont as our new owner offers us an opportunity to significantly expand our business in several sectors over the coming [...]

Warburg-HIH launches Spezialfonds for logistics

18/01/2019 Warburg-HIH Invest and Nord/LB are launching an open-ended Spezial-AIF, which will most likely invest in German logistics property. The planned volume for the fund is €250mn with 45 % financing. The shopping list of the “Warburg-HIH Deutschland Logistik Invest” includes modern, third-party-utilization distribution and handling centers, with some properties in need of optimization mixed in [...]

Residential rent price increases in large cities are slowing for the first time

18/01/2019 Quoted rent prices in the seven largest German cities increased by 4.2 % during Q4 of last year, according to the current Empirica-Index. That is less of an increase than the year before (5.9 %). That means that the increase rate of rent prices declined for the first time since 2014, which Empirica considers to [...]