TD News International Location: Berlin

Coworking growing only in Berlin

14/08/2019 An analysis by BNP Paribas Real Estate (BNPPRE) finds that growth in the coworking sector has slowed for the time being. Around 80,000 sqm of office space was let to coworking providers in Germany’s top 6 cities in H1 2019, down from around 210,000 sqm in the past year. Berlin is bucking the trend: coworking [...]

Commercial rent brake to be discussed in Parliament

12/08/2019 The newspaper “Süddeutsche Zeitung” reports that the Berlin Senate is launching an initiative in the German Bundesrat, the upper house of the Federal Parliament, for regulation of commercial rents, citing an application for the “introduction of a commercial rent brake in strained commercial-space markets”. Markets are deemed to be strained if “there is a particular [...]

Vonovia won’t increase Berlin rents at this time

12/08/2019 Vonovia is refraining from increasing rents for its 40,000 apartments in Berlin for the time being. CEO Rolf Buch, in an interview with the newspaper “Frankfurter Allgemeine Zeitung”, said that Vonovia “could still increase rents in Berlin later this year, according to the recently published rent index. But we’ve decided not to carry out any [...]

DIC Asset buys properties in Berlin and Bremen for €142mn

09/08/2019 DIC Asset has acquired properties in Berlin and Bremen for €142mn. In Berlin, the Frankfurt-based company paid €111mn for the “Safe” office building at Taubenstraße 7-9 in the city’s Mitte district.  The building has 10,100 sqm of lettable space; DKB is the main tenant. The seller is Real I.S; CBRE brokered the sale. The building [...]

Accentro sees no negative impact from expropriation discussions

08/08/2019 Accentro Real Estate, the privatization specialist active primarily in Berlin, confirms its forecast for the year. However, revenue and profit fell massively in H1, due to the sale of the Gehrensee portfolio pushing up the previous year’s figures. Consolidated revenue now amounts to €34.5mn, after €97.9mn in H1 2018. Consolidated profit sank from €5.7mn to [...]

Phoenix Spree: valuation increases by 3.9%

08/08/2019 Phoenix Spree, which is listed on the London Stock Exchange, reported a 3.9% increase on a like-for-like basis in the value of its portfolio in the first six months of the year to €665.2mn. The company pointed out that the uncertainty surrounding the Berlin Senate’s announced rent cap has had a negative impact on the [...]

Berlin: Leonardo to operate 380-room hotel in Adlershof

07/08/2019 Leonardo has signed on as a tenant of the planned “Campus Hotel” at Rudower Chaussee 2, near the Adlershof regional rail station, in Berlin. The new location will comprise approx. 24,000 sqm in the 16-story high-rise, as well as five floors in the nearby OfficeLab Campus. 380 rooms are planned. The conference area will be [...]

Berlin: Prices for construction sites up 36 % to €946/sqm

05/08/2019 The average price for vacant construction sites in Berlin was €946/sqm last year, 36 % more than in 2017. According to figures compiled by the Berlin-Brandenburg statistical office, the year saw 908 sales (+2.6 %) totaling 1.7 million sqm construction land (-21.4 %) for €1.3bn (+12 %). In the Mitte district there were 19 such [...]

Berlin: Luwin takes over 253 apartments from Baywobau and Investa

01/08/2019 A joint venture of Investa Real Estate and Baywobau has sold a new construction project with 253 rental apartments in Berlin-Schmargendorf to Luwin Real Estate Managers. The project with 18,200 sqm rental space is part of the “Maximilians-Quartier”. The units are to be ready for occupation and handed over to Luwin by mid-2022. The forward [...]

Berlin: Warburg-HIH buys office building from Quest

31/07/2019 Warburg-HIH Invest Real Estate has acquired the “Element B” office building in Berlin’s Wedding district for a real estate spezialfonds. The building, located at Brunnenstraße 128, was built in 1992. It has 6,126 sqm of lettable space and 69 underground parking spaces. The seller is Quest Investment Partners, which acquired the property in 2017 as [...]