TD News International: 16/08/2019

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Instone acquires S&P Stadtbau from Sontowski

16/08/2019 Instone Real Estate is acquiring the residential property developer S&P Stadtbau from Sontowski & Partner. 20+ employees will be moving to Instone, together with Stadtbau’s management and six project developments within the Nuremberg metropolitan area. The projects comprise 1,000 apartments with a volume of €300mn. Instone says that the Nuremberg acquisition is an extension of [...]

Commodus acquires residential real estate developer from P&P

16/08/2019 Commodus, in a joint venture with the Munich entrepreneur Daniel Günthert, has acquired the residential construction division of the Fürth-based P&P Group. The former P&P Wohnbau GmbH, with 15 projects in Nuremberg, Fürth, Herzogenaurach, Zirndorf and Schweinfurt (Askren Manor residential development), now goes under the name Bayerisches Immobilien Kontor GmbH (Bayiko) with plans to become [...]

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Deutsche Euroshop: Revenue and FFO “stable and on track”

16/08/2019 The shopping center investor Deutsche Euroshop (DES) kept its revenue steady at €111.9mn (+0.3%) in H1. FFO adjusted for valuation and non-recurring effects was €75.0mn (-0.7%), a €0.5mn decline from the previous half-year period due to higher tax payments; consolidated profit rose by 19.8% including non-recurring effects to €66.2mn. Valuation yield was ‑€8.4mn (previous year: [...]

GSW builds 141 apartments in Darmstadt

16/08/2019 The Gemeinnützige Siedlungswerk Frankfurt (GSW) is building the “Mary & Abe” residential construction project on the 9,500 sqm site of the former Lincoln barracks located on Susan-Sontag-Weg in Darmstadt’s Bessungen district. The project is for 106 condominiums (53 subsidized and 53 privately financed) and 35 rental apartments. The apartments have around 11,500 sqm. of total [...]

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Intreal opens branch offices in Frankfurt and Luxembourg

16/08/2019 The capital investment company Intreal has opened a branch in Frankfurt. In an interview with TD, Managing Director Michael Schneider explained that this step was to accommodate the large number of its customers and consultants there, as well as a greater presence of skilled personnel than in Hamburg. Intreal will also be opening a branch [...]