TD News International Location: Hanover
Toy retailer Smyths Toys builds logistics center near Hanover
16/11/2018 The Irish toy retailer Smyths Toys Superstores has just turned the first sod for its new Northern European headquarters and logistics center, according to the business assistance agency Deltaland Wirtschaftsförderung mbH. An approx. 50,000 sqm logistics warehouse and office wing is currently being built on 10.7 hectares in the “A27Park Walsrode” commercial district. Bauwo Grundstücksgesellschaft [...]
Hanover: Austrian firm builds 13,000 sqm of office space on Expo site
12/11/2018 Riegler & Partner, based in Graz, is planning the construction of 13,000 sqm of office space on a section of the former Expo grounds in Hanover. The project also includes an underground parking garage with 84 parking spaces. Hanova is the seller of the 5,700 sqm project site, located at the southern end of Chicago [...]
Logistics investor Tritax enters German market with acquisition near Hanover
31/10/2018 British logistics investor Tritax EuroBox is buying the new Action distribution center in Peine near Hanover, its first property in Germany. The purchase price of €81.6mn (excluding purchaser’s costs) corresponds to an initial net yield of 4.8 %. The seller is developer Dietz AG, who is keeping a small share of the asset. Knight Frank advised [...]
Hanover: Real I.S. fund buys hotel project from Bauwo
26/10/2018 The Real I.S. Spezial AIF “Themenfonds Deutschland II” has acquired the hotel project at Andreas-Hermes-Platz in Hanover from Bauwo. The parties have agreed not to disclose the purchase price, however TD has learned from market insiders that it is between €35mn and €40mn. The 6,200 sqm hotel will have 220 rooms on 15 floors. Completion [...]
Vastint plans hotel and office complex near Hanover convention center
05/10/2018 The hotel developer Vastint Hospitality has announced the purchase of a 21,500 sqm property in Laatzen, near Hanover, from a private individual. The property is located between Münchener Straße and Kronsbergstraße, close to the convention center rail station. The existing zoning plan permits commercial properties of up to 43,000 sqm. Vastint first intends to build [...]
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 [...]
Hanover: DWS buys large commercial project from List
19/07/2018 Through its subsidiary Rreef Investment, DWS has acquired the 25,000-sqm office and commercial building project at Vahrenwalder Straße 11 from the project developer List Develop Commercial. All five floors, with approx. 14,000 sqm of lettable space, are being let to Design Offices, B&B, Rewe, and dm. The building complex also has a bi-level underground parking [...]
Hanover: Hamburg Team invests in Constantin quarter
12/07/2018 Hamburg Team Investment Management (HTIM) has acquired Building Lot No. 1 in the Constantin quarter in Hanover for its “Hamburg Team Urbane WohnWerte” fund with an investment volume of €28.2mn. The seller of the property, with 84 apartments over 6,660 sqm of lettable space on the approx. 5,040 sqm land is Wohnkompanie Nord, a Zech [...]
Domicil takes over 210 apartments in Hanover from Quantum
18/05/2018 Domicil Real Estate is acquiring nine buildings comprising 210 nearly fully let apartments on 11,900 sqm of lettable space in Hanover’s Groß-Buchholz district, as part of an asset deal. Quantum is the seller. The building inventory was constructed in the years between 1958 and 1961, and underwent renovations between 2013 and 2106. It includes 99 [...]
Hannover: LBBW leases 14,000 sqm to Finanz Informatik
17/04/2018 LBBW Immobilien has established a new lease for nearly 14,000 sqm office space in the former IBM complex on Laatzener Straße 1 in Hannover. The three-story ensemble is the last property of the so-called Turtle portfolio; IBM had vacated the building six months ago. The new tenant is Finanz Informatik of the Sparkassen Group, who [...]