TD News International: 14/12/2017

Advertisement

RFR buys department store portfolio for €650mn

14/12/2017 The Steinmetz portfolio, with Karstadt properties, has been sold. TD has learned from market insiders that RFR Holding has recently signed a sale contract for the package, consisting of up to 13 department stores. The Karstadt store on Breite Strasse in Cologne, originally part of the portfolio and its most prominent property, is apparently not [...]

DIFI Report: Financial backers more optimistic

14/12/2017 Property financial backers’ expectations for business in the coming half year have brightened, but remain cautious. The German Real Estate Finance Index (DIFI), conducted by JLL and ZEW, rose by 7.3 points to 0.1 points. This is the first time this year that the report showed a positive figure. This improvement goes along with the [...]

Advertisement

Rents for simple offices in secondary cities rising the fastest

14/12/2017 Rents have risen this year in all locations and categories of the German office market, most significantly for simple offices in cities with 250,000 – 500,000 inhabitants, by 4.76% (last year: 3.79%). IVD, which published these figures, explains that many businesses are turning to smaller cities due to the excess demand in large cities. In [...]

DIFI Report: Property financiers more optimistic

14/12/2017 Property financiers’ expectations for business in the coming half year have brightened, but remain cautious. The German Real Estate Finance Index (DIFI), conducted by JLL and ZEW, rose by 7.3 points to 0.1 points. This is the first time this year that the report showed a positive figure. This improvement goes along with the excellent [...]

Advertisement

Habona funds buy nine supermarkets for €35mn

14/12/2017 Habona has acquired nine retail grocery stores for its retail funds 05 and 06, managed by the capital management company Hansainvest, for €35mn. The properties have a total lettable space of approx. 14,500 sqm. Three Rewe stores in Zweibrücken, Ockenheim (both in Rhineland-Palatinate) and Sinntal-Sterbfritz (Hessen) as well as four Netto stores in Moers, Porta [...]

Cofinimmo buys nursing homes in Gelsenkirchen and Riesa

14/12/2017 Cofinimmo has purchased two nursing homes in Germany for €26.5mn. The Belgian property investor has acquired the “Haus Bismarckpark” in Gelsenkirchen for a purchase price of €11.4mn, corresponding to an initial net return of 6.2%. The home, operated by Curanum, a Korian subsidiary, was built in 1998 and is to be renovated for €1mn. This [...]

Advertisement

Industria buys properties in Dortmund and Frankfurt for €34mn.

14/12/2017 Industria Wohnen has purchased two properties in Frankfurt and Dortmund for its open-ended residential fund Fokus Wohnen Deutschland. Together the properties include 208 apartments spread over 7,929 sqm of lettable space, and 83 parking spaces. The purchase price was €33.6mn. The properties are from the Zeus portfolio, which is marketed by the Loancos Group on [...]