TD News International: 18/06/2019

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Savills IM buys ECE logistics center in Ansbach

18/06/2019 Savills IM has signed a purchase contract for a logistics center under construction in the Franconian city of Ansbach for its “Savills IM European Logistics Fund 2.” The developer and seller is ECE. The logistics complex consists of a distribution center and a transshipment warehouse with around 76,600 sqm of total lettable space and is [...]

Magna sells office buildings to Berenberg fund

18/06/2019 Magna Real Estate has sold four office properties in Hamburg, Lübeck and Norderstedt in an off-market deal to the open-ended real estate fund “Berenberg Real Estate Hamburg”. The properties – the Nordport-Towers in Norderstedt, Langenhorner Chaussee 92-94 in Hamburg’s Langenhorn district, and Moislinger Allee 3 and Wielandstrasse 14 in Lübeck, which Magna acquired last year [...]

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Deutsche Hypo Index down to 2012 levels

18/06/2019 The Deutsche Hypo Index’s continued slide is taking a steeper turn than it did in May, with 3.1% decline corresponding to a value of 117.1 points, the level from November 2012. The primary reason for this is the earnings climate, which at 4.3% is declining more than twice as much as the partial indicator for [...]

TTL plans transaction platform with Rockstone

18/06/2019 The investment company TTL is entering into a partnership with Rockstone Real Estate following its sale of the portfolio developer GEG German Estate Group.  According to an ad hoc announcement, an agreement on the establishment of a transaction platform was signed yesterday. Rockstone develops residential and commercial real estate and has an asset management subsidiary. [...]

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Office market: JLL expects second-best year for pre-lettings

18/06/2019 Once again, this year will see a majority of office space let before completion. Helge Scheunemann, Head of Research Germany at JLL, predicts a pre-letting turnover of 750,000 sqm in the country’s seven major office markets. This would fall short the previous record of 2018 (849,800 sqm) by 5%, but clearly surpass the ten-year average [...]

Hamburg: Becken sells 274 apartments to Bayerische Ärzteversorgung

18/06/2019 Becken has sold its project development “Charlie-Mills-Quartier” in Hamburg’s Farmsen district to Bayerische Ärzteversorgung as a forward deal. The project developer intends to built 274 rental apartments in the quarter by Q2 of 2021, 56 of which will be rent controlled (maximum €9.50/sqm). In addition to the approx. 20,900 sqm of living space, four commercial [...]