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Berlin: Gewobag takes over apartments on Karl-Marx-Allee

16/07/2019 Gewobag will be taking over 670 apartments on Karl-Marx-Allee in Berlin. The units are located in blocks C-Nord, C-Süd and D-Nord, for which the state-owned company and current owner Predac have now notarized a contract offer. The contract includes “the immediate take-over of all apartments and commercial units that are not purchased individually by previous tenants,” [...]

Real estate index dips for fifth month in a row

16/07/2019 The Deutsche-Hypo index has dropped for the fifth consecutive month in July despite the excellent half-year result on the German office property market. It declined by 1.9 % to 114.9 points, its lowest point in seven years. This was mainly due to a dip in the investment climate (-3.7 %), while the rental climate held [...]

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Catella buys “Paulinenpark” in Stuttgart

16/07/2019 Catella Real Estate has acquired the “Paulinenpark” in Stuttgart for the open-ended private fund “KCD Catella Nachhaltigkeit Immobilien Deutschland” from the Paulinenhilfe Foundation. The building on Seidenstraße 35 has roughly 5,000 sqm total lettable space which is being used by a care facility, assisted living, and a child day care center. The property dating from 2012 also [...]

Alpine Finanz develops another office building in Schönefeld

16/07/2019 Alpine Finanz Bau is expanding the “Airport Center Schönefeld” near Berlin by adding another office building. The “Hub 3” will be built on Mittelstraße 3 and have roughly 17,000 sqm. Drafts were provided by HPP Architekten. Construction is to start in Q4 of this year and be completed in Q3 of 2021. Colliers International will be handling [...]

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Munich: Ilka Hoffmann joins Savills

16/07/2019 Ilka Hoffmann has been Director Office Agency at Savills in Munich since May. In this position, the 49-year-old is responsible for managing national and international large property searches and for owner and investor support. Hoffmann joins from CBRE, where she was most recently working as Associate Director in Advisory and Transaction Services. Born in Berlin, [...]

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 [...]