TD News International: 23/11/2015

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Grand City buys 5,000 apartments in North-Rhine Westphalia

23/11/2015 Grand City has secured several residential portfolios with a total of around 5,000 units in North-Rhine Westphalia. The transaction is reported to be worth €170mn, net rents come to €15mn, and vacancies are listed at 15 %. The properties are to change ownership in January. This increases the corporate portfolio to 76,000 units with €405mn [...]

IVD: Office rent is climbing, particularly in smaller cities

23/11/2015 Rents for office space have increased in virtually all German cities and locations. The strongest plus compared to last year was recorded in cities of 100,000 to 200,000 inhabitants on spaces with simple utility value (3.56 %), according to the current IVD commercial rent report. In cities of 200,000 to 300,000 inhabitants and those over [...]

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Berlin: Urban development competition for Copro-Quartier has been decided

23/11/2015 The two architectural firms Cobe Berlin and Ortner & Ortner of Cologne have won the urban development competition for a new urban district near Gleisdreieck Park in Berlin-Kreuzberg. The “Urbane Mitte” is being developed by the Copro group, who had set a GFA target of around 100,000 sqm at the beginning of the competition. The [...]

GPEP and Universal gathering more Netto markets

23/11/2015 GPEP and Universal-Investment have expanded the portfolio of twelve Netto markets purchased in Mainz for a Spezialfonds. They purchased 14 Netto discount grocery markets and one Edeka supermarket with a total area of 20,360 sqm from Marktkauf-Holding. Most of the properties are located in Bavaria, Lower Saxony, and Saxony. Marktkauf was advised on the deal [...]

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New Aposto restaurants in downtown locations of Frankfurt and Dresden

23/11/2015 The restaurant chain Aposto, which is part of the Enchilada group, is set to open two new restaurants in the inner cities of Frankfurt and Dresden in the first quarter of 2016. In Frankfurt, the company has secured 220 sqm in the “CineStar Multiplexkino” near the Hauptwache. The opening is scheduled for March. In Dresden, [...]

Project fund invests in residential location in Wiesbaden

23/11/2015 The institutional project fund “Vier Metropolen” is building 33 condominiums in Wiesbaden with a sale price of approximately €13mn. The investor has purchased a 3,382 sqm building site on Am Parkfeld near Schlosspark Biebrich for the project. The plans call for several tower blocks with three full floors each. This is the seventh development project [...]