TD News International: 04/05/2017

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Cologne: Gerchgroup to develop Deutz area for €1bn

04/05/2017 Project developer Gerchgroup based in Düsseldorf acquired the 16-ha site of Deutz AG in Cologne-Mülheim. Over the next few years, a new urban district with a focus on housing but also with public facilities will be developed on the former factory site. In February, Deutz announced that the sale should generate a profit in the [...]

Internos: New fund buys Depot Sachsenhausen

04/05/2017 The newly issued Internos Core European (ICE) Balanced Fund has acquired an initial portfolio encompassing nine properties with a volume of approx. €200mn. One of the properties is Depot Sachsenhausen in Frankfurt. This mixed-use property with approx. 13,000 sqm was built on the former tram depot and completed in 2008. The other eight properties are [...]

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Bonn: Die Developer to build “Urban Soul” for over €100mn

04/05/2017 At the end of April, Die Developer Projektentwicklung signed the purchase agreement with the City of Bonn for the Nordfeld of Bonn’s central station. This cleared the path for marketing of the “Urban Soul” project, which includes the development of a total of approx. 26,000 sqm GFA across three buildings. The plans of architecture firm [...]

Four out of ten European office hotspots located in Germany

04/05/2017 When it comes to investments in European office properties, creativity is in need due to the persistently high demand. In a recent report, JLL picked out ten potential hotspots outside of the traditional top markets in continental Europe, which promise above-average rental growth over the next two years. Four of them are located in Germany: [...]

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36,000 sqm of new shopping centre space in Germany this year

04/05/2017 According to Cushman & Wakefield (C&W), 36,000 sqm of new shopping centre space will be completed in Germany this year, and another 67,700 sqm will be added in 2018. Major projects include “Dorotheen-Quartier” in Stuttgart, as well as “Loom Bielefeld”, “East-Side Mall” and “Schultheiss-Quartier” in Berlin. Throughout Europe, an estimated 4.5mn sqm of shopping centre [...]

Nuremberg: Development Partner buys “City Point”

04/05/2017 Development Partner has acquired the downtown shopping centre “City Point” in Nuremberg from the closed-end real estate fund “City Center” administered by Deutsche Asset Management. Most recently, the value of the property was estimated to be approx. €74mn. The former Hertie building, converted into the shopping centre, features 17,600 sqm of rental space or 14,570 [...]