TD News International: 08/05/2017

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Munich: Swiss Life buys office building “Atros” for €31mn

08/05/2017 Swiss Life Asset Managers has bought the office building “Atros” in Munich, a property on Lindberghstraße 3 in Schwabing of roughly 8,000 sqm lettable space and about 100 parking spaces. The seller is Hammer AG, who just last year revitalized the building, which was completed in 2008, and leased it long-term to an automotive company. [...]

Mülheim: Patrizia buys Schloßstraße quarter

08/05/2017 Patrizia has acquired the “StadtQuartier Schloßstraße” on the pedestrian mall of Mülheim an der Ruhr from joint venture partners Fortress and GRS, as well as Competo Capital. The new building will measure 34,300 sqm lettable space and will be completed by early 2019 on the former Kaufhof site. It will offer a mix of residential, [...]

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Edinburgh House sells three German value-add centers

08/05/2017 The Edinburgh House Group has sold three German shopping centers to a Berlin investor. The buyer was represented by Curator r.e.m., Estama managed the transaction for the seller in an exclusive mandate. The purchase price is in the upper double-digit millions. The package includes the Südharz-Galerie in Nordhausen and the Galerie am Schlossberg in Sondershausen [...]

Ligula Hospitality: Swedes are looking for German locations for hotels

08/05/2017 The Swedish Ligula Hospitality Group is poised to take the leap into Germany. The company is looking for existing hotels or construction sites to help expand with its full service brand Profilhotels or its limited service brand Good Morning Hotels. They are initially aiming for Berlin, Munich, Hamburg, Frankfurt, Cologne, Düsseldorf, and Stuttgart, Commercial Director [...]

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Eastdil: Ex-JLL manager Kadel runs first German office

08/05/2017 The real estate investment bank Eastdil Secured now has an office in Germany. The location opened in Frankfurt is also the first in continental Europe. It is under the leadership of Christian Kadel as Managing Director. Kadel worked for JLL for 17 years, the last five as Team Leader Office Investment in Frankfurt. During that [...]

Berlinovo sells three C&A houses to private equity fund

08/05/2017 The sale of three C&A department stores by a closed-end fund managed by Berlinovo has been finalized. The assets in this so-called Star portfolio are located in Lörrach (Untere Wallbrunnstraße 12, about 4,700 sqm), Goslar (Bäckerstraße 100, about 4,700 sqm), and Bottrop (Hochstraße 29-31, about 4,200 sqm). The new owner is a private equity fund. [...]