TD News International: 28/02/2017

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BMO increases AuM by 20 % and boosts residential investments

28/02/2017 BMO Real Estate Partners Deutschland conducted real estate transactions with a volume of over €800mn in 2016, of which €600mn were purchases and €200mn were sales. The largest deal was the purchase of the Q6/Q7 quarter in Mannheim. Assets under management increased 20 % to €2.4bn. This includes development acquisitions worth €400mn, which BMO intends [...]

Commerzbank reports home prices are 10 % overvalued

28/02/2017 A study conducted by Commerzbank has found that homes in Germany are overvalued by an average 10 %. The authors base their determination of “fair” prices on real disposable per-capita income, real building costs, real interest, the unemployment rate, as well as the portion of 25 to 45 year-olds of the total population. Since 2011, [...]

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dm builds logistics center near Berlin for €100mn

28/02/2017 The drugstore chain dm is having a logistics center built in Wustermark for around €100mn. The retail group has purchased a 162,000 sqm lot in the “Güterverkehrszentrum Berlin West”; dm Managing Director Christian Bodi and Wustermark’s mayor Holger Schreiber signed the purchase contract yesterday. According to consistent media reports, construction is to start this fall. [...]

Capital Bay brings Torsten Doyen on board for funds business

28/02/2017 Torsten Doyen (46) is joining Capital Bay to expand the company’s funds business with institutional investors. He has been appointed Managing Director of CB Capital Management GmbH, and will also be in charge of marketing for the investment firm. Doyen joins from Warburg-HIH Invest Real Estate, where he ran institutional sales as Managing Director and [...]

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Deka buys logistics development from Fraport and MP

28/02/2017 Deka has acquired the development M-Port 3 near Frankfurt Airport. The multi-functional logistics property with a total GFA of 32,000 sqm is being built on a roughly 54,000 sqm lot on the Mönchhof site in Kelsterbach. The seller is a joint venture of Fraport and MP Holding. The developers are currently in negotiations with interested [...]

Berlin: Building starts on residential quarter in Falkenberg

28/02/2017 BWBG Berliner Wohnbau, a joint venture of Interhomes and CD Deutsche Eigenheim, has started construction of a completely new residential quarter in Berlin-Falkenberg. The first phase consists of 179 rental units to be built west of Georg-Forster-Allee and north of Markus-Herz-Weg. The apartments are to be finished by late 2019. In total, plans for the [...]