TD News International: 07/12/2018

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DIC sells TLG shares, Amir Dayan’s rise to nearly 30%

07/12/2018 DIC is selling its 14% share in TLG Immobilien to Amir Dayan’s Ouram Holding (6%) and the US investment company Bedrock (8%). The €376mn purchase price represents a more than €20mn premium over yesterday’s closing price on the stock exchange. Dayan, head of Lianeo (formerly known as Intown Property), unexpectedly invested in TLG at the [...]

Hamburg: hardware chain Clas Ohlson sells off all stores

07/12/2018 The Swedish hardware retailer Clas Ohlson is abandoning its plan to gain a foothold in the German brick-and-mortar store market. Since 2016 it had opened four branches in Hamburg, two of them in prime urban locations: Spitaler Straße 32 (1,000 sqm) and Jungfernstieg (1,800 sqm). The other two are located in the AEZ (Wandsbek) and [...]

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Office market: German properties in middle of field for total costs

07/12/2018 Despite rent increases, German premium office space remains affordable by international standards. This was part of the findings of a JLL survey of office costs conducted in 72 office submarkets in 61 cities worldwide. The most expensive German cities are found at the middle of the list, with Munich ranked 30th with $913/sqm/year for rent, [...]

Düsseldorf: Beos buys “Rheinhöfe” industrial park

07/12/2018 Beos has acquired the “Rheinhöfe” industrial park in Düsseldorf for its closed-end real estate Spezial-AIF “Beos Value Investment Fund Germany I” (BVIFG). The seller is Epitec Gamma GmbH, which acquired the 38,700 sqm site of the former crane manufacturer Gottwald in 2008 and converted it into an industrial park. Located in the city’s Holthausen district, [...]

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Kiel: Hamburg investor buys office building

07/12/2018 Kühne Immobilien Consulting has sold an office building located at Muhliusstraße 38 in Kiel to a Hamburg investor. The fully let building has 3,000 sqm of lettable space and is used by the building management department of Schleswig-Holstein, the bank Förde Sparkasse and the social services organization “Gesellschaft für Soziale Hilfen in Norddeutschland”. Kühne had [...]

Munich: BVT rents three floors in “Highrise one”

07/12/2018 The “Highrise one” building in Munich’s “Werksviertel” quarter is now fully let, according to its developer, Reiß & Co. The BVT Group has secured a total of 2,200 sqm distributed over the office tower’s 12th to 14th floors and will move into the Rosenheimer Straße offices in 2019, maintaining its headquarters there. Savills exclusively advised [...]