TD News International: 12/12/2014
12/12/2014 Unibail-Rodamco, Europe’s leading listed commercial property company, intends to invest €860mn in the heart of the HafenCity through its Germany-based subsidiary mfi. The company has signed an agreement with the city of Hamburg to develop and acquire land in the southern part of HafenCity’s Überseequartier, including “the acquisition of land plots from former owners.” According [...]
12/12/2014 Deutsche Annington has issued a €1bn hybrid bond in preparation for taking over Gagfah. The announcement said the perpetual bond has a coupon of 4% and a first call date in 2021. The paper was heavily oversubscribed due to strong demand from existing and new investors. JP Morgan acted as sole bookrunner. According to CFO [...]
12/12/2014 In January 2015, Fürth-based P&P will re-open the former “Arvena Business Hotel” in Erlangen under the new LikeApart brand name. The location comprises a rental area of 5,250 sqm in a building complex dating from 1979 at Wetterkreuz 7. It was acquired last year from insolvent Arvena Property and has 126 guest rooms and 14 [...]
12/12/2014 Hochtief Project Development has sold the “Max 13” in Munich’s historic center to AEW Europe for a third party. The office building now under construction at Maximiliansplatz 13 will have 6,100 sqm of office and warehouse space on seven floors. It is entirely leased to Freshfields Bruckhaus Deringer. Completion is scheduled for mid-2015.
12/12/2014 Ground has been broken in Potsdam for the new building of Investitionsbank des Landes Brandenburg (ILB). A 27,500 sqm GFA building for 700 employees on a 20,000 sqm site near the main railway station is planned. According to ILB, the projected volume is €94mn. The design is by KSP Jürgen Engel Architekten, winner of the [...]
12/12/2014 M7 Real Estate has engaged the Nai apollo group to manage its nine logistics properties in Germany. Nai apollo said the portfolio comprises a total rental area of 130,000 sqm. Two properties are in Ratingen, and one each in Stelle (near Hamburg), Kassel, Dortmund, Herne, Dormagen, Pulheim, and Frankfurt. UK-based M7 has only been active [...]