TD News International Location: Dresden

Catella buys apartments in Braunschweig and Dresden

20/08/2019 Catella Residential Investment Management (CRIM) has acquired just under 100 apartments and a supermarket property in Braunschweig for the individual mandate of a pension fund in southern Germany. The purchase volume amounts to nearly €22mn. The turnkey project development consists of three structures and includes 27 subsidized apartments. Institutional Investment Partners (2IP) is serving as [...]

Westinvest to acquire two shopping centers in Berlin and Dresden

19/08/2019 TD has learned from market insiders that the Allee-Center in Berlin’s Hohenschönhausen district and the Seidnitz Center in Dresden are being sold to a Westinvest spezialfonds. The agreements of sale have been signed; the closings are still pending. Both shopping centers are being sold by the London-based company Arax Properties, which brought a portfolio of [...]

Hausinvest acquires “Königshöfe” in Dresden for €70mn

16/07/2019 Commerz Real and Wertgrund Immobilien have bought the “Königshöfe” in Dresden from developer CG Group in a forward deal for about €70mn. The residential project in the Innere Neustadt district is to start in Q4 and be completed by 2022. Plans include 191 apartments with about 14,700 sqm living space as well as 266 underground parking spaces and [...]

TLG builds another office property in Dresden

15/07/2019 TLG Immobilien has received the building permit for a 15,000 sqm office building in Dresden. The new property called “Neo” will be developed on a 7,203 sqm lot on Großenhainer Straße 5-7. TLG is building the structure together with KPE from Wiesbaden and reports that it is already 43 % leased for ten years to [...]

Prizeotel opens two hotels in Dresden

10/07/2019 Two new Prizeotels are being developed in Dresden. One is being built on Großenhainer Straße in the Neustadt district by List Develop Commercial. The Prizeotel Dresden-City will have 214 rooms, the lease has a 25-year term and was brokered by Colliers International Hotel. List is also building serviced apartments and offices on the site in cooperation [...]

DIC buys “Falkenbrunnen” in Dresden – FFO grows by a quarter

03/05/2019 DIC Asset has acquired three properties this year to date for a total of around €92mn. The commercial real estate company acquired the “Falkenbrunnen” office property, located on Chemnitzer Straße 46 in Dresden, for its “DIC Office Balance V” fund. The property is primarily let to the University of Dresden. Total investment costs amounted to [...]

Dresden: Singapore group buys Westin Bellevue for €50mn

06/03/2019 First Sponsor Group from Singapur acquires the hotel “The Westin Bellevue Dresden” in a share deal. The firm quotes the purchase costs at about €49.5mn with a yield of 7.6 %. The hotel on Große Meißner Straße has 340 rooms and a total of 40,700 sqm. Sellers are the Luxembourg-based companies Rock Lux Opco S.à [...]

Union Investment buys 170 micro apartments in Dresden

06/03/2019 Union Investment is buying a micro apartment complex currently under construction in Dresden. The project on Grunaer Straße 20 includes 170 units with about 6,000 sqm lettable. The seller is Berlin-based developer Grundstein Bauträger, who plans to finish construction of the new building by the end of this year. Union Investment was advised by GSK [...]

HB Reavis starts in Germany with projects in Berlin and Dresden

11/02/2019 Slovakian developer and workspace provider HB Reavis has announced its first two projects in Germany. One is a site called “Alter Schlachthof” on Landsberger Allee 104 in Berlin. The 2 ha lot between Friedrichshain and Prenzlauer Berg will be the home of a commercial quarter for startups and corporations from the creative and tech sector. [...]

AEW and Catella AM buy office complex in Dresden

30/01/2019 AEW and Catella Asset Management have formed a joint venture and bought an office and retail complex in Dresden’s Striesen-West district. The property consists of two connected building sections on Blasewitzer Straße 78-82, which were built in 1995 and total about 16,200 sqm lettable space and 170 underground parking spaces. The 936 sqm of the [...]