TD News International: 08/02/2019

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DIC Asset: Fund business grows by 73%

08/02/2019 DIC Asset achieved its maximum FFO target of €68mn (+13%), which had been revised upwards in November, thus setting a new record. Strong growth was seen first and foremost in fund revenues (+73% to €37.3mn, of which more than €20mn were proceeds from transactions). Rental income from the directly held portfolio fell to a good [...]

Munich: M&G buys “Aurum” for over €80mn

08/02/2019 M&G Real Estate has acquired the “Aurum”, located on Radlkoferstraße in Munich’s Theresienhöhe district, on behalf of its M&G European Property Fund. The seller of the 13,768-sqm property is a fund managed by J.P. Morgan. Market insiders have revealed that the purchase price was between €80mn and €90mn. The property is fully let and was [...]

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Essen: PwC signs 15 year lease for Huyssen Quarter property

08/02/2019 The auditing and consulting firm PwC has leased a planned 4,200-sqm office building in the “Huyssen Quartier Essen” (HQE). The lease runs for 15 years. Apart from the office building, a 19-story tower featuring 64 rental apartments and condominiums (7,145 sqm), 44 subsidized apartments, a building with 2,050 sqm of commercial space and a three-level [...]

Fokus builds hotel and commercial building in Korbach (Hesse)

08/02/2019 The Duisburg project developer Fokus Development intends to build a hotel and commercial building on Bahnhofstraße in Korbach, in northern Hesse, for €25mn. The new, four-story building is planned for a 3,400-sqm site in the town’s pedestrian zone, replacing the Woolworth building currently located there. Plans for use include 3,000 sqm of retail space on [...]

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Leipzig: AOC builds 130 apartments in Reudnitz

08/02/2019 The Magdeburg company AOC Immobilien has taken on its second project in Leipzig. The “liv’in reudnitz”, a six-story, 130-unit residential complex with around 9,300 sqm of lettable space and 70 underground parking spaces, is to be built on around 3,200 sqm of land between Gerichtsweg 7c/d and Perthesstraße 1d/e. The company, which now also has [...]