TD News International: 13/05/2019

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pbb: more new business with lower margins

13/05/2019 Deutsche Pfandbriefbank (pbb) concluded 29 real estate financing transactions in the first quarter with a volume of €1.9bn, €200mn of which were extensions. This exceeded the previous year’s new business by 12%. The average gross margin, however, dropped from 155 to 130 basis points. pbb says that this was due to an increased share of [...]

Strabag PFS assumes FM of 185,000 sqm

13/05/2019 Hansainvest Real Assets has commissioned Strabag Property and Facility Services with the technical (TFM) and infrastructural facility management (IFM) for a real estate portfolio of 26 properties, as of April 1, 2019. The provided services include building services such as the maintenance and repair of technical building equipment, including 24-hour support, and reception/cleaning services. Strabag [...]

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Cologne: architect plans to move main station underground

13/05/2019 Cologne’s main railway station is to be moved underground to create space for a new urban quarter, according to designs by architect Paul Böhm. At an urban development forum held by Cologne’s Chamber of Industry and Commerce (IHK), Böhm and traffic planner Günter Harloff said that the railway station, located directly next to the cathedral, [...]

Magna Real Estate appoints Olaf Geist for expansion

13/05/2019 Magna Real Estate has founded Magna Projektentwicklung West for the expansion of its project development business, and has appointed Olaf Geist to take over the management of the company starting on June 1st, 2019. Geist, 57, worked since 2003 for Aurelis Real Estate Service Region West, where he most recently served as regional manager, overseeing [...]

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Berlin: DC Values buys business property in Neukölln

13/05/2019 DC Values has acquired a business property in Berlin’s Neukölln district in a joint venture with a German institutional investor. The building, located at Karl-Marx-Straße 84 near Boddinstraße, has around 3,700 sqm of retail, office, and training space, and one residential unit. It also has 23 underground parking spaces. The seller is a private investor [...]

Sirius buys former Bacardi plant in Buxtehude

13/05/2019 Sirius has acquired a bottling plant at Alter Postweg 13-15 in Buxtehude, 22 km south of Hamburg. The seller is the rum maker Bacardi, which had closed its only German plant at the end of last year. Sirius now wants to transform the 35,425 sqm site into a multi-tenant property, ideally with one large main [...]