TD News International: 02/10/2015

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Investment turnover climbs 50% to €38bn

02/10/2015 Around €38.2bn were already invested on Germany’s commercial real estate market by the end of September, according to numbers from BNPPRE, CBRE, Colliers International, and JLL. That is a climb of 50%. For the entire year, the prognoses go as far upward as €55bn, which would be a new record. Peak activity so far this [...]

ADO and aik buy residential package in Berlin

02/10/2015 ADO Properties, through various share deals, has taken over 95% of 885 apartments and 116 commercial units in Berlin from an international fund and private investors. The purchase price of 100 % of the assets was €137mn. Around 70% of the apartments are in Prenzlauer Berg, Kreuzberg, Neukölln, and other central city districts. The current [...]

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Commerzbank considers sale of its Frankfurt headquarters

02/10/2015 Commerzbank is weighing a possible sale of the 259 m tall “Commerzbank Towers” in Frankfurt. A spokesperson for the institute confirmed to TD that this is currently being considered. According to TD’s information, JLL is advising Commerzbank in this regard. Officially, the bank describes this as a routine investigation of alternatives for its real estate [...]

Catella wants to expand with residential funds

02/10/2015 Catella Real Estate wants to build up its fund business with residential real estate. Xavier Jongen (previously with Bouwfonds Investment Management) took over management of Catella’s new division for residential investment in Berlin as of October 1. Acquisitions of new developments and existing properties in twelve European countries are envisioned. Funds for institutional investors are [...]

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Frankfurt: RFR joins Strabag’s Rundschau area project

02/10/2015 Strabag Real Estate (SRE) is teaming up with RFR Holding to develop the former Rundschau area in Frankfurt. The partners in the project announced this along with the final version of the controversial designs by Hadi Teherani. Marketing of the ensemble comprising 24,000 sqm GFA will take place under the name “Flare of Frankfurt.” A [...]

Art-Invest invests in Erlangen and Munich

02/10/2015 Art-Invest Real Estate has purchased the Novotel Erlangen for its “Hotel-Manage to Core-Fonds” from an E&P Real Estate closed-ended fund. According to TD research, the deal played out at about €20mn. The 170-room, three-star hotel opened in 2001 is operated by Accor. Art-Invest was advised by JLL, KPMG, Drees & Sommer, and Warth & Klein. [...]

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Logistics investments: Peak yield drops to 5.4%

02/10/2015 A new annual record on the logistics investment market in Germany is becoming increasingly probable. According to JLL, investments in the third quarter totaled €1bn, following nearly €700mn and €950mn in the first two quarters. The nine-month result is thus 20% higher year-on-year. Willi Weis, JLL’s head of Industrial Investment, said, “How close we get [...]