TD News International: 24/04/2019

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Cologne: LEG demolishes residential quarter and builds a new one twice the size

24/04/2019 LEG is investing about €80mn in building roughly 400 senior and family friendly apartments on Schlebuscher Weg in the Höhenhaus district. The existing buildings with around 200 residential units will be gradually demolished and replaced by new structures. LEG had contracted two Cologne-based urban planning and architecture firms to prepare feasibility studies for the conversion [...]

Barbara Knoflach leaving BNP Paribas REIM

24/04/2019 Barbara Knoflach, Deputy CEO and Global Head of Investment Management at BNP Paribas REIM since 2015, has decided to leave the company. Her position will be assumed by Nathalie Charles (53) as of 1 July. Under Knoflach’s leadership, the investment manager’s AUM increased from €22bn to €29bn. She considers her mission of establishing BNP Paribas [...]

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Logistics take-up in Rhein-Main drops by 17 %

24/04/2019 Take-up of logistics space in the Rhein-Main area dropped by 17.4% to 138,000 sqm during Q1, as reported by NAI apollo. Take-up increased only in the segment of properties up to 1,500 sqm (+77 % to 29,000 sqm). The largest deal of the quarter was signed by Amazon (20,000 sqm in Gernsheim), followed by the [...]

DWI testing the waters in Kiel’s office market

24/04/2019 Hamburg-based DWI Group is acquiring the office building Fabrikstraße 7 in downtown Kiel with 9,200 sqm lettable space from a Danish owner. The building with a view of the Förde is about 85 % leased long term, tenants include Vonovia and Ferring. DWI intends to focus on structural maintenance and leasing. After Frankenstraße 12/14 in Hamburg, [...]

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Dereco sells “Eschbach Karree” in Bad Homburg

24/04/2019 An institutional investor has bought the “Eschbach Karree” in Bad Homburg from Dereco. The newly constructed residential quarter along Kalbacher Straße consists of 32 barrier-free apartments and a roughly 3,000 sqm Rewe supermarket. IAM Immobilien Asset Management brokered the transaction, the law firm of Taylor Wessing advised Dereco. The firm had acquired the property in 2015 from Schoofs [...]

Few real estate investments with yields above 5 %

24/04/2019 It is still possible to achieve yields of more than 5% with property investments in Europe, but only in very few areas, a study by Savills concludes. The average top yield for offices in European CBDs is at 3.7 %, for shopping centers it is 4.8 %, and for logistics property 5.4 %. Higher yields are [...]