TD News International: 16/12/2014

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FDR and insurers buy nine hotels in Germany

16/12/2014 Foncière des Régions (FDR) has entered into a joint venture with insurers ACM Vie and BNP Paribas Cardif to buy hotel properties. The announcement states that the majority shareholder in the new venture, FDM Management, is FDR subsidiary Foncière des Murs. The plan is to acquire hotels run by the sector’s major operators. Currently, an [...]

TAG sells apartments in Berlin for €76mn

16/12/2014 Following the sale of 2,600 apartments to Howoge, TAG has now sold two further portfolios in Berlin to local housing associations. The buyer of the larger package of 702 units is likely to be Stadt und Land Wohnbauten-Gesellschaft. The announced price was €54.5mn. At a net rent of €5.30/sqm, the rent multiplier is roughly 19. [...]

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Wiesbaden: Orion Capital Managers buys Lilien-Carré

16/12/2014 The Lilien-Carré in Wiesbaden was sold by the owning company’s insolvency administrator to Orion IV European 22 S.à.r.l. and Orion IV European 23 S.à.r.l., both managed by Orion Capital Managers. Savills advised the seller. The Lilien-Carré built in 2007 consists of a 25,000 sqm shopping center, a hotel (about 5,700 sqm), and an office building [...]

Nuremberg: Deka buys two hotels for €19mn

16/12/2014 Deka Immobilien has acquired two hotels in central Nuremberg from GBI for approximately €19mn. The hotel ensemble on Bahnhofstrasse comprises a newly opened Hampton by Hilton and a Holiday Inn Express with a total of 204 rooms, both operated by Foremost Hospitality. They will be held by West Target Select Hotel addressed exclusively to institutional [...]

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Frankfurt: Aberdeen acquires residential complex from GeRo

16/12/2014 Aberdeen Asset Management has acquired a planned residential ensemble in Frankfurt from GeRo Real Estate. The 2,565 sqm site at Mainzer Landstrasse 372 is currently still in use as a retail park. By 2016, 66 apartments with 5,200 sqm of living space, a day care center, and underground parking for 70 cars are to be [...]

Mannheim: Developer acquires 21,000 sqm lot at main rail station

16/12/2014 Ostermayer based in southern Rhineland-Palatinate has acquired a prime 21,000 sqm piece of land at Mannheim’s main rail station. The city confirmed to TD that the property is part of the former post office site on which a new urban quarter is to be created. Hudson Advisors Germany, which manages the real estate funds of [...]