TD News International: 19/07/2019


Rent cap: Phoenix Spree reconsiders acquisition strategy in Berlin

19/07/2019 Residential investor Phoenix Spree, which focuses on Berlin and is listed at the London Exchange, will carefully consider its acquisition strategy ahead of the Berlin senate has presented its bill for the planned rent cap in Berlin. This is what investor relations chief Stuart Young said in an interview with TD. Whether and to what [...]

Viridium: Insurer offers €2bn package for sale

19/07/2019 A huge package of prime German real estate is causing a stir in the investment market. As TD learned, the owner of the portfolio is Viridium, who took over the Generali life insurance business in April. Several experts estimate the value of the 49 assets with 350,000 sqm – mainly office buildings but also residential [...]


Lang & Cie. develops office ensemble in Eschborn

19/07/2019 Frankfurt-based developer Lang & Cie. is developing an office ensemble in Eschborn’s Gewerbegebiet Süd for €150mn, as TD learned from market insiders. The first construction phase with about 18,000 sqm GFA has already been leased to Randstad. The personnel services provider intends to consolidate several Rhein-Main locations in the new offices. BNP Paribas Real Estate [...]

Berlin: Former Airport Bureau Center could fetch up to €200mn

19/07/2019 The Swiss Partners Group and Arax Properties from London apparently want to sell the “City Campus” in Berlin-Charlottenburg. According to information obtained by TD and its sister title CoStar News UK, CBRE and Colliers International have been mandated to find a buyer. The complex on Saatwinkler Damm, formerly called “Airport Bureau Center”, is being put [...]


Hamburg: Boston Consulting leases from Quest on Ballindamm

19/07/2019 Quest Investment has signed the first tenant for its refurbishment project Ballindamm 17 on Hamburg’s Binnenalster. As TD learned from market insiders, Boston Consulting Group (BCG) will be moving into nearly 3,000 sqm in the historic building once construction work is completed in late 2020; CBRE is said to have advised on the deal. None [...]

DIC buys Duisburg’s “Stadtfenster” for €58mn

19/07/2019 DIC Asset has acquired the “Stadtfenster” in Duisburg for €58.1mn. Transfer of ownership, use and liabilities was completed in late June, the company states. The structure, built in 2014, has five stories with over 12,600 sqm lettable space in total. The lion’s share of it is used by the local city library and adult education center. [...]


Stuttgart: Radisson moves into Porsche Tower

19/07/2019 A Radisson Blu hotel will be moving into the “Porsche Design Tower” on Stuttgart’s Pragsattel. The 168 room establishment will occupy the upper floors 9 to 23. It will also include ten meeting and event rooms with a total of 550 sqm. The new 90 m structure is being built by Bülow AG as investor and [...]