TD News International: 11/06/2019

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Karstadt and Kaufhof now owned entirely by Signa

11/06/2019 Signa Group is taking over the department store company Galeria Karstadt Kaufhof in its entirety. The group led by Rene Benko has agreed to the deal with Hudson’s Bay Company (HBC). HBC has been holding 49.99 % of the enterprise created by merger last year, Signa owned 50.01 %. Apart from the operative business, Signa [...]

Seehofer: “We have more vacant apartments than we need”

11/06/2019 Germany’s Federal Minister for Construction Horst Seehofer wants to tackle the housing shortage with a “courageous infrastructure policy for weaker regions”. In an interview with the “Frankfurter Allgemeine Zeitung” (FAZ) he said: “There are more vacant apartments in Germany than new ones we want to build”. They just are not located where people are living. [...]

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Hamburg: Instone buys €180mn residential project in Rothenburgsort

11/06/2019 Instone Real Estate has acquired a residential project from Deutsche Immobilien on Kanalstraße in Hamburg-Rothenburgsort near Hafencity. The two lots totaling roughly 15.700 sqm will be home to 45,000 sqm floor space for 750 units, including micro-apartments and social utilizations in addition to privately financed and subsidized apartments. The ground floor spaces are earmarked for [...]

Momeni: Office in Frankfurt and three new directors

11/06/2019 Momeni Group is announcing the opening of a branch in Frankfurt. The developer intends to have a presence there by early 2020. The company is also reporting several staff changes: Maike Müller and Gunter Köhnlein are coming on board from Development Partner. Müller will be the new director in Düsseldorf and will run the Hamburg-based company’s activities [...]

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Principal buys retail parks in Hesse for Paref Gestion

11/06/2019 Principal Real Estate Europe, acting as asset and transaction manager, has acquired a retail park in Herborn (Central Hesse) on behalf of the SCPI Novapierre Allemagne fund managed by Paref Gestion. The property at Untere Au 1-12 has roughly 16,700 sqm lettable space and is currently 95 % leased, tenants include a Herkules home improvement [...]

Wilhelmshaven: Chinese plan logistics center on 20 ha site

11/06/2019 The marketing company of the JadeWeserPort in Wilhelmshaven has signed a declaration of intent with China Logistics Co. and Chengtong Group about developing a logistics center for handling Chinese goods. The center is to be developed on a 20 ha lot in the North of the freight center at the deep water container port. China Logistics [...]