TD News International: 26/02/2015

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No tax bonus for building renovations after all

26/02/2015 Homeowners cannot count on tax incentives for energy efficiency measures for the time being. This was made clear by Social Democratic parliamentary leader Thomas Oppermann in a letter to party members saying that no agreement could be reached in the pertinent government committee. The reason for this was said to be the negative attitude of [...]

TAG Immobilien achieves high earnings through sales

26/02/2015 At the end of last year, TAG Immobilien sold 3,500 units at rent multipliers of 18 or 19 in expensive Berlin and acquired 3,150 residential units at multipliers of 10-11 on other locations. In the fourth quarter alone, the Hamburg-based firm attained book profits of €43.1mn through residential sales. Its 2014 earnings before taxes (EBT) [...]

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Cologne: Internos buys Triforum from HIH for €53mn

26/02/2015 Internos Global Investors has acquired the “Triforum” in Cologne’s Ehrenfeld district for the “real value plus” fund managed by Institutional Investment Partners. The purchase price was €53mn. Hamburgische Immobilien Handlung, on commission by the Warburg – Henderson Deutschland Fonds Nr. 1, was the seller. The 24,000 sqm Triforum comprises a four-star, 205-room Park Inn by [...]

Frankfurt: Holiday Inn to operate hotel in Gateway Gardens

26/02/2015 The business hotel planned in Gateway Gardens at Frankfurt Airport will be operated by Holiday Inn. For this purpose, Interstar Hotel has signed a 20-year lease. The hotel is slated to be built near Terminal 2 by a joint venture of Strauss & Partner and Munich Hotel Invest. It will have 288 rooms, a conference [...]

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Hanover: Newtown Gruppe buys Ihme-Zentrum at auction

26/02/2015 A property company owned by Berlin-based Newtown Gruppe has acquired the Ihme-Zentrum for €16.5mn through a court-ordered auction in Hanover. The deal for the private investor group was arranged by Angermann Investment Advisory under exclusive contract. According to the Hanover district court, creditor Landesbank Berlin (LBB) has accepted the offer, leading to an immediate transfer [...]

Feri survey: Institutional investors to increase real estate quota still further

26/02/2015 About 80% of institutional investors in Germany want to increase the proportion of their real estate investments through 2017. This was revealed in a Feri survey of more than 90 investors. While a third of the respondents said the focus of their investments will be on Germany, the demand for foreign real estate will see [...]

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F&C Reit acquires retail buildings in Darmstadt and Minden

26/02/2015 F&C Reit has acquired two retail properties located in Minden and Darmstadt for the “Best Value Germany II” (BVG II) real estate Spezialfonds. The building in Minden on the Bäckerstrasse pedestrian zone has 1,500 sqm of rental space leased to McPaper, Ulla Popken, and Douglas. The Darmstadt property in Darmstadt situated at a prime location [...]