TD News International Location: Hanover

Hanover: Getec acquires properties from JP Morgan and Strabag

22/03/2019 The Magdeburg-based Getec Group has begun to build a “relevant real estate portfolio” with the acquisition of several buildings in Hanover, including the property at Joachimstraße 8 last October from JP Morgan. Deutsche Bahn will move out of the 20,000 sqm property, after which it will be converted and let to a municipal authority in [...]

Hanover: Intown to sell Ihme-Zentrum to Sapinda company

08/03/2019 Intown intends to dispose of the Ihme-Zentrum, a 110,000 sqm office, retail and residential complex in Hanover. A sale agreement has been signed with the Luxembourg-based Civitas Property Group; the transaction is expected to be concluded by the end of May. Civitas, according to their website focussed on residential, is an indirect subsidiary of Sapinda [...]

Hahn to modernize retail park near Hanover, let 4,120 sqm

30/11/2018 The Hahn Group intends to revitalize and expand a 1985 retail park in Garbsen, near Hanover, starting in the 2nd quarter of 2019. A German pension fund is investing in the Spezialfonds, which is managed by Hahn. The new tenants – TK Maxx, dm-drogerie markt and Siemes-Schuhcenter – have concluded long-term leases for a total [...]

Verdion plans cold store near Hanover with British investor

23/11/2018 The British investor Tritax EuroBox says it is taking over the development of a distribution facility from Verdion. The facility is to be built on a parcel of land in Wunstorf, 20 km from Hanover, and has been pre-let to Havi Logistics GmbH. Tritax is financing the project, subject to the building permit which has [...]

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 [...]