TD News International: 01/10/2015

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Triuva buys Shell building in Berlin

01/10/2015 Triuva (formerly IVG Institutional Funds) has purchased the Shell building in Berlin’s Tiergarten area of Mitte for about €80mn. A subsidiary of Orion European Real Estate Fund IV, C.V., sponsored by Capital Managers, was the seller. The property built from 1930 to 1932 at Reichpietschufer 60-62 has been listed as an historical building since 1958. [...]

Residential investments reach all-time high after three quarters

01/10/2015 Never before has more residential property been sold in Germany than during this year, and that in just the first three quarters. According to Dr. Lübke & Kelber, around €19bn were invested from January to September, significantly exceeding the record year of 2005. During Q3, though, the amount was only around €2.4bn – compared to [...]

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Alcaro plans logistics park near Berlin

01/10/2015 Alcaro Invest plans to build a new logistics park in Grossbeeren near Berlin. Up to 300,000 sqm of logistics space are to be created on a 90,000 sqm footprint built on a 180,000 sqm site at “An der Anhalter Bahn” in Grossbeeren’s freight handling complex. Alcaro said the building permits for the eight warehouses in [...]

Hines buys Düsseldorf Arcaden for Spezialfonds

01/10/2015 Hines has acquired the “Düsseldorf Arcaden” shopping center from Ivanhoé Cambridge for an unidentified Spezialfonds seated in Germany. Hines acted as the fund’s acquisition manager and as its asset manager. According to TD’s information, Union Investment has stepped in as the fund’s service KVG. The seller was exclusively represented by CBRE and advised by Allen [...]

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Office market: Berlin is booming

01/10/2015 Initial quarterly figures for office markets in Germany show a positive trend, especially for Berlin. Angermann reported a third quarter rental volume of 208,000 sqm in the capital city, resulting in a total of 542,000 sqm for the year’s first nine months. This already puts the capital ahead of the ten-year average of 526,000 sqm [...]

Frankfurt: Invesco buys the “maro” office and retail project

01/10/2015 Peakside Capital and Gross & Partner have sold the “maro” office and retail project in Frankfurt to an Invesco Real Estate fund. The two companies had acquired the former BHF-Bank building on the corner of Neue Mainzer Strasse 74/80 and Neue Rothofstrasse in 2013. They are redeveloping it into an ensemble comprising 8,600 sqm of [...]