TD News International Location: Dresden

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 [...]

Dresden: CG sells Carré Löbtau to Heitman

16/01/2019 CG Group is selling the residential project “Carré Löbtau” in Dresden to a subsidiary of Heitman LLC. The investment firm has stated that a purchase agreement has been reached. The five-story, 10,400 sqm ensemble consists of 148 apartments, two to four commercial units, and 116 parking spaces. The groundbreaking was in late 2017. CG quotes [...]

Dresden and Leipzig have best risk-return ratio in eastern Germany

05/12/2018 In eastern Germany, Dresden, Leipzig, and Rostock offer the best risk-return ratio for investments in existing housing in good locations. In medium locations, Dresden and Leipzig are again in the top 3 with Potsdam, for new construction investments Weimar takes third place after Dresden and Leipzig. This is the result of the current “Risiko-Rendite-Ranking” by Dr. Lübke & [...]

The Student Hotel to open first German hotel next Tuesday

23/11/2018 On November 27th, The Student Hotel (TSH) will open its first German hotel on Prager Straße in Dresden. The hotel will have 306 rooms with co-living and co-working spaces. In addition to accommodations for normal hotel guests, the former Ibis Hotel property also has rooms for students to let for a semester or an entire [...]

NAS and BlueRock buy office building in Dresden for €33mn

21/11/2018 NAS Invest and BlueRock have acquired a multi-tenant property in Dresden’s Sigma technology park for about €33.3mn. The core plus property on Washingtonstraße 16-16a was built in 1996 and refurbished in 2009. It has about 20,500 sqm lettable space, tenants include Siemens and TechniSat. The seller is Alstria Office, who was advised by Cushman & [...]

Union Investment/ZBI residential fund buys 750 apartments

06/09/2018 The open-ended mutual real estate fund UniImmo: Wohnen ZBI has acquired approx. 750 apartments in the last three months for €82.3mn, most of them acquired in three portfolio transactions. The largest deal was a portfolio with 380 apartments, predominantly in Hanover. The fund also acquired a package with over 150 apartments on Wiener Straße near [...]