TD News International: 24/11/2015

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Verdict in Cargo-City case: Two years and eight months for Ardi Goldman

24/11/2015 In the corruption case surrounding construction of the cargo center Cargo City Süd at Frankfurt airport (Fraport), project developer Ardi Goldman was sentenced to two years and eight months of prison time by the Frankfurt district court. Developer Jürgen Harder and his business partner Kai B, who also faced corruption charges, were sentenced to two [...]

Berlin: Kintyre revitalizes “Märkisches Zentrum” for €100mn

24/11/2015 Kintyre Investments plans to refurbish and modernize the “Märkische Zentrum” in Berlin-Reinickendorf. The Frankfurt investment firm estimates the effort will require more than €100mn. The property includes roughly 55,000 sqm floor space with a shopping center, office space, and medical facilities, as well as an 11-story residential building. Kintyre reports that they took on 100% [...]

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Bayreuth: Gerchgroup develops apartments for €50mn

24/11/2015 Gerchgroup, which was newly founded by former managers of PDI , has purchased the 22,800 sqm lot of a former logistics corporation in Bayreuth. According to company information, the group plans to develop properties for about €50mn on the site, mostly residential, and the city has initiated a building plan process for the project. The [...]

Geneba buys for €150mn

24/11/2015 Netherlands-listed Geneba reports the purchase of three German properties for around €150mn. In September and October, the investment company bought a business park in Mülheim (122,423 sqm floor space), a logistics property in Ulm (24,525 sqm), and a light industry property (48,750 sqm) in Gottmadingen near Constance. The properties are leased for an average of [...]

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Berlin: Springer subsidiary leases 8,100 sqm near Alexanderplatz

24/11/2015 Visual Meta, subsidiary of the Axel-Springer concern, has leased about 8,100 sqm of office space in the “1alex” complex on Berlin’s Alexanderplatz. The corporation runs shopping portals in 19 countries across the globe and intends to move into the space on Alexanderstraße 1, 3, and 5 in May 2016. The lease is for 3.5 years [...]

TH Real Estate and Palmira buy logistics center near Hannover

24/11/2015 TH Real Estate and Palmira Capital Partners have bought a logistics center in Lehrte near Hannover. The property is located on a 82,400 sqm lot in the cargo transport center and consists of two halls with a total of about 37,500 sqm floor space, which are leased to a global logistics corporation for another four [...]