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Wealthcap acquires three assets for new office fund

29/03/2019 Wealthcap is launching a new office fund for institutional investors with a target volume of up to €420mn. The Spezial-AIF with a core to core plus strategy invests exclusively in the regions around Munich and Nuremberg; the target IRR is 4.5 to 5 %. Wealthcap intends to buy four to six office properties for the [...]

Aroundtown: Portfolio grows by 45 %

28/03/2019 Aroundtown bought real estate for €3.7bn last year, about as much as in 2017. Recognized in the balance sheet were new acquisitions for €3.1bn, which the company bought at a multiplication factor of 20. The sales volume for the period was over €740mn. Including appreciation, property holdings (commercial portfolio) grew by 45 % to €14.2bn, with [...]

Adler has €1.7bn in housing projects in the pipeline

28/03/2019 Adler Real Estate is planning more growth with its own developments in primary markets over the next six to seven years. The company states that its development pipeline for that period currently adds up to €1.7bn in projects. The new structures will be added to Adler’s own portfolio at 4 to 5.5 % initial net [...]

CA Immo has record earnings and keeps on building in Germany

28/03/2019 CA Immo increased its group earnings in 2018 by 28 % to a new record total of €305.3mn. The plus was due in part to four project completions, two of them in Germany, and three acquisitions. The company’s property holdings increased by 17 % to €4.5bn, rental income grew by 7 % to €192.4mn. FFO [...]

Tristan and Barings buy 34 food logistics assets from Nagel

27/03/2019 Barings and the core plus fund CCP 5 LL, which is administered by Tristan, have acquired 34 temperature-controlled warehouses in a sale-&-lease-back transaction with logistics company Nagel. The so-called “Project Coldplay” consists of 260,000 sqm floor space in Germany and Denmark, which Nagel has been operating long term as service provider for several beverage and [...]

Deutsche-Hypo-Index: Mipim did not bring momentum

27/03/2019 After two months with upward trends, the Deutsche-Hypo index declined in March by 1.3 % to 123.4 points. The investment climate held quite steady (-0.3 %), while the rental climate dipped by 2.1 %. Among the individual asset classes, only the office segment saw an increase 0.6 %. Logistics dropped 3.7 %, housing lost 2.3 [...]

Deutsche Wohnen built and renovated more in 2018

26/03/2019 Deutsche Wohnen has increased its FFO1 by 10.9 % to €479.4mn this past year. While earnings from housing management increased by 7.1 % to €656.2mn, earnings from care facilities and assisted living grew by 15.2 % to €55.3mn. Apartment sales were less significant than last year (1,970 units for €180mn after 2,850 units for €309mn). [...]

Brack Capital sells three retail properties for €181mn

25/03/2019 After the takeover by housing company Adler Real Estate last year, Brack Capital Properties (BCP) is now selling its commercial portfolio, as announced. According to a release, an “established private equity firm from London specializing in real estate” has agreed to buy the Hanse Center in Bentwisch near Rostock, the retail park on Telefunkenstraße in [...]

Greenman takes over 33 Edeka markets for €143mn in two deals

25/03/2019 Greenman Investments has acquired four retail properties from Edeka-Miha for €25mn in addition to the 29 supermarkets bought from TLG in a separate sale-and-lease-back transaction. The assets have average remaining lease terms of 11.5 years. Three of these supermarkets are used by the Edeka Cash-and-Carry brand Mios. The TLG portfolio cost €118mn, as reported last [...]

TLG sells 29 retail markets to Greenman and acquires office complex in Bonn

20/03/2019 TLG Immobilien is continuing to restructure its portfolio. For one, 29 smaller retail properties, mostly locate in Saxony-Anhalt and Lower Saxony, have been sold to Greenman for €118mn. Legal advice was provided by P+P Pöllath + Partners and White & Case. The move serves to unload properties that are no longer strategic or are labor-intensive, [...]