TD News International: 08/11/2016

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Blackstone buys Officefirst for €3.3bn

08/11/2016 After the cancelled IPO of Officefirst, IVG has now decided on a direct sale of its office property subsidiary after all. Blackstone Real Estate Partners Europe IV is buying the company for €3.3bn including debt. The contracts for the sale were now signed in Frankfurt, and the transaction is expected to close during the first quarter [...]

Berlin: LIP building near Südkreuz

08/11/2016 LIP Ludger Inholte Projektentwicklung is planning a hotel and business complex at Berlin’s Südkreuz. Plans call for 26.000 sqm GFA for offices, retail, and a hotel to be developed on a site on Hedwig-Dohm-Straße which the Hamburg-based firm reports having bought in July. The allocation of space to the individual uses is not finalized, LIP [...]

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CBRE GI buys Hillwood projects in Weiterstadt and Düsseldorf

08/11/2016 CBRE Global Investors is buying four logistics centers in Poland with a total of 220,608 sqm and several logistics projects in Poland and Germany from Hillwood. The two German projects are located in Weiterstadt (“Centra5l Park” with 37,282 sqm) and Düsseldorf (34,402 sqm). The sale will not be transacted before the properties are fully leased. CBRE Global [...]

Alstria confirms FFO forecast

08/11/2016 Alstria Office has earned €153,2mn in rental income from January to September, which is 1.4 % more than Alstria and the recently acquired Deutsche Office combined during the same period last year. This is due to reduction of vacancies, which dropped by 130 basis points to 9.9 % since the beginning of the year. Owing [...]

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Accor acquires 30 % of 25hours Hotels

08/11/2016 The French Accor group, Europe’s largest hotel chain, is acquiring a 30 % share of the 25hours Hotel Company. With Accor as a long-term partner, the Hamburg based firm intends to boost its global expansion, the two parties stated. The 25hours portfolio currently includes eight boutique hotels in Hamburg, Frankfurt, Berlin, Vienna, and Zurich. More hotels are [...]

Patrizia raises forecast

08/11/2016 Patrizia Immobilien increased its operative result by 125 % to €252.5mn during the first three quarters. The investment manager is raising its forecast for the year from €250mn to €265mn. Even without the sales of the Harald portfolio to Deutsche Wohnen and Südewo to Vonovia, which had already boosted the half-year figures, the operative result [...]

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Berlin: BNP REIM and Cording buy commercial building in Prenzlauer Berg

08/11/2016 BNP Paribas REIM Germany and Cording Real Estate have bought the commercial building Schönhauser Allee 120/122a in Berlin-Prenzlauer Berg. The property has six levels with a total of about 13,500 floor space, of which around 3,000 sqm are used by retail businesses and 8,500 sqm are office space. There are also archive and storage areas [...]