TD News International: 04/07/2017
04/07/2017 Momeni Investment Management has acquired the property at Börsenplatz 1 in Cologne’s banking district for the open-ended Spezial AIF “Momeni Prime Opportunities Fund”. The seller is a mandate managed by Axa Investment Managers. The buyer was legally advised by P+P Pöllath + Partners, Berlin. BNP Paribas Real Estate supported the seller. The office building dates [...]
04/07/2017 Union Investment has purchased the “Loftwerk” in the south of Nuremberg as part of an off-market transaction. The 27,000 sqm campus property on Ulmenstraße 52 a-i in Nuremberg is a landmarked factory building of the former shoe manufacturing plant Vereinigte Fränkische Schuhfabrik. The complex is currently fully leased to 32 different companies. Tenants include the [...]
04/07/2017 Prologis has finalized a letter of intent for 16 ha of the former sintering plant on Westfalenhütte in Dortmund. As Silke Seidel, general manager of land owner Dortmund Logistik relates, the company plans to develop a logistics park on the entire site, which should be ready for construction in 2021. The first lot of the [...]
04/07/2017 The opportunistic fund Episo 4, advised by Tristan Capital Partners, has acquired the DuMont Carré on Breite Straße 80-90 in Cologne in a joint venture with Concepta Projektentwicklung. The seller is a closed-end real estate fund, most likely the property fund “Wohn- und Geschäftshaus Köln Breite Straße” launched by real estate entrepreneur Josef Esch. The [...]
04/07/2017 The P&P Group has acquired the former headquarters of sporting goods manufacturer Puma in Herzogenaurach and is planning to invest €32mn in developing the property. The complex on Würzburger Straße 13 consists of an old building erected in 1986, and a new section added in 2005. According to the Fürth-based developer’s plans, the new section [...]
04/07/2017 Velero Partners has purchased a portfolio of 360 residential units in Magdeburg and one of with 339 apartments in Neuruppin (Brandenburg) for the Luxemburg firm Asterion. The Magdeburg package earns annual net rental income of about €954,000 at a 20% vacancy rate. Velero quotes the initial yield at 6.4 %. The purchase price was likely [...]
04/07/2017 JLL is establishing a retail investment team in Stuttgart. André Berger took the helm of the newly founded team on 1 July. The 26-year-old joins from Colliers International in Stuttgart, where he was in charge of the Landlord Representation unit. He completed his degree in real estate administration at Duale Hochschule Baden-Württemberg.