TD News International: 15/01/2015

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Berlin leads ULI ranking, Munich falls from top ten

15/01/2015 Berlin, and no longer Munich, is the city in Europe with the best investment prospects. The most recent of the widely circulated city rankings compiled by Urban Land Institute (ULI) and pwc rates the Bavarian capital ten slots lower, in eleventh place, while Berlin, in fourth place last year, has now taken over the top [...]

IVG retains The Squaire due to poor offers and favorable refinancing

15/01/2015 IVG has ended its sale process for The Squaire. The company cited three reasons for its decision: Bank of America Merrill Lynch provided a five-year refinancing of over €470mn for the hotel and retail complex on favorable terms, putting the Frankfurt property’s profitability, according to IVG, “well above” the company’s portfolio average. Second, the offers [...]

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CA Immo plans high-rise and bus terminal in Frankfurt

15/01/2015 CA Immo wants to develop an inter-city bus terminal and two real estate projects on the southern side of Frankfurt’s central station. A letter of intent has now been signed by the developer and the city. The construction site on Mannheimer Strasse, currently used as a parking lot, is already owned by CA Immo and [...]

Essen: Ten Brinke sells part of “Kettwiger Ruhrbogen” to Vivawest

15/01/2015 Ten Brinke has sold a part of its “Kettwiger Ruhrbogen” residential project in Essen to Vivawest. The package consists of ten apartment buildings and ten duplex units totaling 135 privately financed apartments with 12,558 sqm of living space. Construction is scheduled to start in May and to be completed by the spring of 2017. According [...]

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Caerus attracts €350mn for whole loans

15/01/2015 Caerus Debt Investments has greatly enlarged its capital commitments. In the fourth quarter, “two major German institutional investors” appointed Caerus as investment adviser for a total of €350mn in senior collateralized mortgage loans with high LTV ratios, so-called “whole loans.” This means that, together with capital budgeted for junior and mezzanine loans, the investment consultancy [...]

Düsseldorf: Strabag sells “KB4” to Talanx

15/01/2015 Talanx Immobilien Management has acquired the “KB4” office building in Düsseldorf’s Airport City from Strabag Real Estate. Law firm Görg’s Cologne office advised the buyer, and BNP Paribas Real Estate advised Strabag for the transaction. The building completed in April 2014 provides 4,300 sqm of office space with Gerresheimer AG as the main tenant. According [...]