TD News International: 18/12/2017

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Vonovia plans to take over Buwog

18/12/2017 The residential real estate companies Vonovia and Buwog have signed a business combination agreement. Vonovia intends to make a takeover offer, offering €29.05 in cash per share for all Buwog shares. This will value the Vienna-based Buwog at €5.2bn, a premium of 18.1% above the company’s closing share price. The aim is to merge Vonovia’s [...]

Blackstone: Office fund makes first purchase in Germany

18/12/2017 Blackstone and Quincap Investment Partners have bought the “Haus am Bundesrat” building at Leipziger Strasse 127-128 in Berlin. The office property, located near Potzdamer Platz and the Sony Center, has around 10,000 sqm of lettable space. The unnamed seller is the Carleton Group; TD has learned from market insiders that the purchase price was a [...]

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Amazon to open brick-and-mortar stores in Germany

18/12/2017 Amazon has medium-term plans to open brick-and-mortar stores in Germany, as it has done in the USA. “It’s not a question of if, but of when”, Ralf Kleber, the company’s CEO for Germany, told the newspaper “Westdeutsche Allgemeine Zeitung”. He pointed out that brick-and-mortar trade still makes up 90-95% of revenues in Germany, and Amazon [...]

Berlin: Commerz Real buys apartment building for €40mn

18/12/2017 Commerz Real has purchased the student apartment building “a-residenz”, in Berlin’s Reinickendorf district, for institutional investors. Seller is the Vienna-based Akademia Residenz-Berlin. The investment volume lies at around €40mn. Built in 1994 as a hotel, the building at Gotthardstrasse 96/Blankestraße 5 was renovated and converted into its present form as student housing with over 331 [...]

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Berlin: Redevco buys business property on Tauentzienstrasse

18/12/2017 Redevco has purchased the retail property at Tauentzienstrasse 16 in Berlin for its investors. Located at the corner of Marburger Strasse, the historically listed property includes a good 4,000 sqm over six floors; primary tenant is Douglas, which rents the first two floors. The seller is a private owner. McDermott Will & Emery advised Redevco [...]

Litos buys properties in Chemnitz and Heidelberg for €53mn

18/12/2017 Litos Immobilien has purchased two properties in Heidelberg and Chemnitz through the asset manager Kriton Immobilien. The office building at Waldhoferstrasse 98-104 in Heidelberg has approx. 13,000 sqm of office space and is fully let. The purchase price was around €20mn, according to an announcement. UWMG acted as broker. The buyer was advised in legal [...]

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Green light for “Wittenburg Village” in Mecklenburg

18/12/2017 The government of Mecklenburg-Western Pomerania has given the green light for the planned “Wittenburg Village” factory outlet center (FOC). The project, contested for several years, consists of the FOC, a hotel expansion, holiday village, sports and recreation facility, and a swimming pool. The total selling space may not exceed 60 stores with 12,600 sqm. The [...]