TD News International: 20/11/2015

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Residential permits climb by 4.8 %

20/11/2015 The number of residential building permits issued in Germany increased by 4.8 % to 222,800 between January and September, as reported by Destatis (German Federal Statistical Office). This is a distinct acceleration of activity compared to the first half of the year (+2.6 %), but overall less than in the same period last year (5.2 [...]

Berlin: Orion sells Allee-Center in Hohenschönhausen

20/11/2015 The Orion Income Return Partners fund established by Orion Capital Managers has sold the Allee-Center property in Berlin-Hohenschönhausen. The shopping center consists of 12,300 sqm retail space and 3,100 sqm office space. Orion was exclusively advised on the transaction by Savills, legal consultation was provided by Freshfields Bruckhaus Deringer. The Allee-Center on Landsberger Allee 277 [...]

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Rreef buys 6,000 Vonovia apartments in northern Germany

20/11/2015 The Deutsche Bank asset manager Rreef Investment is set to purchase around 6,000 residential units in northern Germany from Vonovia, according to TD investigations. Vonovia had announced the sale early this month along with its nine-month report without revealing the buyer. Rreef declined to comment on the information. The portfolio with a vacancy rate of [...]

Segro: Joint venture buys three logistics properties in North-Rhine Westphalia

20/11/2015 A joint venture of the British REIT Segro and a Canadian pension fund has bought a portfolio of three core logistics properties with a total floor space of about 131,000 sqm. This was reported by DekaBank, who financed the deal with €59.1mn. The bank also states that the fully leased properties are all located near [...]

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Grainger und Heitman sell for €136mn

20/11/2015 Grainger und Heitman are selling their German residential portfolio, which is held by a joint venture, for about €136mn. The package of around 2,500 apartments is going to a “large German investor,” Grainger states. The British real estate group owns 25 % of the joint venture, the remaining 75 % are held by US investor [...]

Cologne: Beos expands assignment for Tattersall

20/11/2015 Beos has assigned Tattersall Lorenz to manage their recently acquired office property in the Cologne business district Am Butzweiler Hof. The 12,500 sqm building is being used by IT service provider QSC and is located directly adjacent to the 24,000 sqm “Ossendorf Technologie Center”, which Tattersall has been managing for Beos since 2013. The newly [...]

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Cording Real Estate: Christian Lerche will be Director Asset Management

20/11/2015 Cording Real Estate has appointed Christian Lerche (41) as Director Asset Management in their Frankfurt offices. Lerche is taking on the asset management for all properties in the new Real Value Fund established by Cording together with BNP Real Estate Investment Management, and for various production and storage facilities in the Value-Add segment in the [...]