TD News International: 21/11/2018

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Apleona and CBRE managing 550,000 sqm for Schroders

21/11/2018 Schroder Real Estate has re-assigned the property management for a large portion of its German real estate portfolio. Starting January, CBRE and Apleona Real Estate Management will share responsibility for more than 550,000 sqm nationwide. The 30 properties include office, retail, logistics, hotel, and residential utilization. Total value of the assets, mainly located in the [...]

Leipzig: Argo plans 54,000 sqm GFA on Krystallpalast site

21/11/2018 The historic Krystallpalast lot near Leipzig’s main station is to be turned into a city quarter with 54,000 sqm GFA. Plans for the site include eight buildings, with apartments, shops, offices, hotels, micro-apartments, a day care, and a residence for seniors. The quarter between Wintergartenstraße, Hofmeisterstraße, and Brandenburger Straße is based on a master plan [...]

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Frankfurt: Michelin leases 6,300 sqm in The Squaire

21/11/2018 Michelin has signed a lease for about 6,300 sqm office space in “The Squaire” at Frankfurt airport. The tire manufacturer plans to open an office for 250 employees of Michelin Region Europe North. Among the occupants will be the marketing and sales units for all products and services, the editorial office for the “Guide Michelin” [...]

Hannover Leasing: New retail fund buys “Quartier West” in Darmstadt

21/11/2018 Corestate subsidiary Hannover Leasing is launching a new closed retail fund with €63mn investment volume. The new fund will invest in the office and hotel complex “Quartier West” currently being built in Darmstadt’s “Telekom-City”, which consists of an office building with 9,205 sqm lettable space and a Moxy Hotel with 178 rooms. Corestate intends to collect €32.5mn [...]

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Frankfurt: RFR takes over entire WestendGate

21/11/2018 As part of a club financing, pbb Deutsche Pfandbriefbank as lead manager and HSH Nordbank are providing RFR Group with equal portions of a €200mn loan. The funds will be used for the refinancing of the hotel and office property “WestendGate”, of which RFR has owned half since 2012 and which the firm will now [...]

Stuttgart: Deka buys Office One from Bülow

21/11/2018 Bülow AG has sold the “Office One” in Stuttgart-Vaihingen to Deka Immobilien. Bülow confirmed a report to that effect by the “Immobilienbrief Stuttgart” upon TD inquiry. According to the real estate industry newsletter, the purchase price for the property is estimated at around €90mn. Colliers International is reported to have brokered the deal. The “Office One” [...]

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NAS and BlueRock buy office building in Dresden for €33mn

21/11/2018 NAS Invest and BlueRock have acquired a multi-tenant property in Dresden’s Sigma technology park for about €33.3mn. The core plus property on Washingtonstraße 16-16a was built in 1996 and refurbished in 2009. It has about 20,500 sqm lettable space, tenants include Siemens and TechniSat. The seller is Alstria Office, who was advised by Cushman & [...]