TD News International: 19/11/2018

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Hamburg: Real I.S. taking over Watermark and Shipyard

19/11/2018 Real I.S. has acquired two office buildings of the “Intelligent Quarter” in Hamburg’s HafenCity. The office tower Watermark is intended for the “Themenfonds Deutschland I” of Real I.S., the Shipyard for the “BGV VII Europa”. The two properties together total more than 21,500 sqm lettable space and were finished this past summer. Developer and seller [...]

Düsseldorf: Cube invests €60mn in hotels and micro apartments

19/11/2018 Cube Real Estate is planning student apartments and two hotels with a total of roughly 19,300 sqm GFA in Düsseldorf-Flingern. The company has acquired a lot on Erkrather Straße 179-189 from Gold Tree Group, represented by Montano Asset Management, and lot number 191 from car repair shop Drösser. Plans by architecture firm HPP of Düsseldorf [...]

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Sirius reports €70mn valuation gains and buys property in Bochum

19/11/2018 The portfolio of business park investor Sirius appreciated by €69.3mn during the first half of the current business year (30 Sept.) and cracked the €1bn mark for the first time. Sirius attributes €56.2mn of the valuation gains to investments in existing properties and incentives for rent increases. Rental income and other income from the real [...]

Grand City buys new buildings in London

19/11/2018 Grand City Properties, who has mainly focused on German residential property in the past, has sold assets worth €400mn so far this year and intends to use the funds for acquisitions primarily in London, mainly new structures in premium residential districts. The British capital already accounts for 7 % of the company’s portfolio.  Other “selective” [...]

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Oberhausen: Geodis to become major tenant in Segro’s new logistics park

19/11/2018 Logistics company Geodis, which is part of SNCF, will lease 40,000 sqm in the new “Logistics Park Oberhausen” planned by Segro on the “Waldteichgelände” in the Holten district. In light of the pre-letting contract, Segro has now started construction of the first building section and the preparations of infrastructure for the hall complex, which will have [...]

Ehret+Klein buys portfolio near Nuremberg from P&P

19/11/2018 Franconia Portfolio Verwaltungsgesellschaft, a company of the Ehret+Klein Group of Starnberg, took over a real estate company of P&P group on November 9 together with a partner. Legal advice was provided to the buyer by Heussen Rechtsanwaltsgesellschaft and to the seller by Rödl & Partner. The acquired real estate firm is holding a portfolio of [...]