TD News International: 08/08/2014

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Munich: Allianz buys “Isartor City” building

08/08/2014 Allianz Real Estate is buying the “Isartor City” commercial building from UBS Real Estate. CBRE advised the seller. The property facing directly onto central Munich’s Isartorplatz offers 21,800 sqm for rent, around 9,900 sqm of which are used for office and about 9,100 sqm for retail space. There is also a cinema. Market sources put [...]

Munich: Westbrook buys offices in “Werksviertel” quarter

08/08/2014 A fund managed by Westbrook Partners has acquired an office complex in Munich’s “Werksviertel” quarter. The transaction includes the complete renovation of a 13-story office tower as well as the demolition and replacement of the adjacent buildings. A total usable area of over 21,500 sqm is planned for the property at Rosenheimer Strasse 143. Pbb [...]

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Freiburg: Private investor acquires B&B Hotel

08/08/2014 B&B Hotels has sold the “B&B Hotel Freiburg-Süd” to a private investor in a sale-and-lease-back deal. The 102-room hotel was opened in October of 2013 on Munzinger Strasse in the St. Georgen District. According to previous reports, €4.5mn were invested in its construction. The announcement says the investor intends to acquire a second B&B Hotel. [...]

HVB issues €1.6bn in H1 real estate loans

08/08/2014 HypoVereinsbank (HVB) issued €1.6bn in new real estate loans during the first half of the year. In comparison, the amount for all of 2013 was €3.4bn. The credit book now runs to €11.7bn (end of 2013: ca. €13bn), of which 35% is for residential, 32% for office, 29% for retail, and 4% for hotel properties. [...]

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Berlin: Vivum and Interprojekt plan apartments for €40mn

08/08/2014 Hamburg-based Vivum and Interprojekt Gruppe are investing around €40mn in two residential projects in Berlin’s Charlottenburg District. Altogether, around 8,900 sqm of living space is to be developed in 110 apartments on the two project sites at Mommsenstrasse 15 and Kaiserdamm 116. Construction is to begin in the spring of 2015. Vivum is investing in [...]

14,000 apartments in development pipeline in Berlin

08/08/2014 There are currently 191 new residential projects under development in Berlin with a total of around 13,900 apartments. According to the first new construction report published by Howoge and BulwienGesa, 6,800 apartments are to be completed this year alone, almost twice as many residential units as in 2013. New developments, however, are still not keeping [...]