TD News International: 25/07/2018

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Hines buys Zalando Campus in Berlin for €235mn

25/07/2018 Hines has acquired the future Zalando headquarters in Berlin-Friedrichshain for a Luxemburg real estate fund. The complex consists of two buildings totaling roughly 42,000 sqm on Valeska-Gert-Straße, which are completely leased to the mail-order retailer and are scheduled to be completed in Q4 of this year. The purchase price, TD learned, is €235mn. Hines is [...]

Stuttgart region: Corestate about to acquire “Stern Center”

25/07/2018 The “Stern Center” in Sindelfingen near Stuttgart is about to be sold, as was reported by the Federal Cartel Office. TD learned that the buyer is Corestate, and the seller is a company that is part of DZ Bank and its subsidiary VR Leasing. The “Stern-Center” has about 31,000 sqm retail space on three floors and houses [...]

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Rent growth again on upward trend in three large cities

25/07/2018 In Hamburg, Frankfurt, and Leipzig, the increase in quoted rent prices has gained new momentum during the first half-year. With growth rates of up to 7 %, the five-year average was clearly exceeded, as JLL determined in an analysis. In Berlin, Düsseldorf, Cologne, Munich, and Stuttgart, by contrast, growth of rent prices is still slowing. After about 7 % the previous [...]

IHG hotel brand Kimpton is coming to Germany

25/07/2018 The IHG brand Kimpton is opening its first hotel in Germany in Frankfurt’s high-rise district “Four”. A long-term lease has been signed, developer Groß & Partner reports. Kimpton will occupy the entire building block Junghofstraße 7-11; the new building will be constructed behind its façade. Plans call for 155 rooms of different categories to take [...]

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Hamburg: Ditting and Gred building 120 apartments in Oxpark

25/07/2018 Ditting Bau and Gred GmbH, founded only this year, will develop the last two lots of the Oxpark quarter in Hamburg-Langenhorn. Both companies have received confirmation from the city for an exclusive option period for the 9,000 sqm of the landmarked laundry facility. The structure is to be converted to house 14 apartments and some [...]

Munich: Fiduciary building 800 studios in “M-Campus”

25/07/2018 Fiduciary Capital has celebrated the topping-out ceremony for the first section of the “M-Campus” in Munich-Obersendling. As part of the project, the 35,000 sqm former office location on Gmunder Straße will be converted into an apartment complex with 800 studio apartments. The first construction phase with more than 400 furnished mezzanine apartments between 18 and 54 [...]