TD News International: 05/12/2016

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Berlin: Koreans set to buy Allianz Campus?

05/12/2016 A Korean consortium appears to be ready to acquire the future Allianz headquarters in Berlin-Adlershof. The purchase price for the 60,000 sqm complex is said to be around €320mn, as “Europroperty” reports without citing a source. TD research revealed that Berlin market circles confirmed the price range and anticipate the deal to close in January. [...]

Berlin: Art-Invest buys City Carré from Commerzbank

05/12/2016 Art-Invest Real Estate has bought the “City Carré” on Koppenstraße 93 near Ostbahnhof in Berlin-Friedrichshain from Commerzbank. The complex with office, hotel, and retail space was built in 1996 and has 44,000 sqm lettable space and 415 parking spaces in four buildings. Commerzbank signed a long-term lease for about 24,000 sqm along with the sale. [...]

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Frankfurt: Gingko Tree sells Adlerwerke

05/12/2016 The occupational pension fund Berliner Ärzteversorgung is buying the Adlerwerke in Frankfurt’s Gallus district. The historic ensemble of the former automobile manufacturer offers roughly 79,000 sqm office space and is leased to several Deutsche Bahn subsidiaries. The seller is the Chinese sovereign wealth fund Gingko Tree, who had purchased the asset in 2014 for around [...]

Housing market: Vacancy rate will increase in the coming years

05/12/2016 According to the CBRE vacancy index, the vacancy rate of apartments at the end of 2015 was 3.0 % or roughly 622,000 units, about 10,000 units less than in 2014 and 125,000 less than five years ago. However, vacancies are expected to increase again between now and 2020 – because the vacancy rate in growth [...]

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Project Investment builds 160 apartments in Darmstadt

05/12/2016 Project Investment is building seven multi-family structures with a total of 97 apartments on the corner of Donnersbergring and Eschollbrücker Straße in Darmstadt. The sales volume for the project purchased from the institutional real estate development fund Project Vier Metropolen II is around €39.8mn. Plans call for 7,019 sqm living space and an underground garage [...]

Bema Group buys 48,000 sqm site in Neuss

05/12/2016 Düsseldorf-based Bema Group has secured a 48,000 sqm city lot near Neuss’ main station. The developer is planning to develop a quarter with housing, commercial use, a hotel, and retail spaces on the lot framed by Further Straße, Josefstraße, Weißenberger Weg, and Zufuhrstraße. It is part of the insolvency estate of screw manufacturer Whitesell and [...]