TD News International: 06/04/2017

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Bombastic first quarter for logistics properties

06/04/2017 The transaction volume in German logistics properties rose to an unprecedented scale in the 1st quarter. According to figures from JLL, BNPPRE, Colliers International and Savills, around €2bn was invested; CBRE quotes €1.4bn. The bombastic result was due to what JLL called the “largest light-industrial transaction of all time” — Hansteen’s JLL-supported portfolio sale to [...]

BVK invests in US residential units

06/04/2017 The Bayerische Versorgungskammer (BVK) wants to invest up to €750mn in US residential buildings. Its USAA Real Estate Company will supply suitable investment objects and will take part in investments with 10%, and up to 30% for project developments. Alongside core properties, focus is on new construction and value-add objects; regionally, all large markets in [...]

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Berlin: 6B47 plans residential quarter in Spandau

06/04/2017 The Düsseldorf developer 6B47 undertakes its first project in Berlin, acquiring the former royal gunpowder factory in the Spandau neighborhood of Haselhorst. More than 15,000 sqm of residential space and 800+ sqm of commercial space shall be built, in partially listed existing buildings and in new construction, on the 11,500+ sqm property on Kleine Eiswerderstrasse. [...]

Consus increases capital, plans listing in Munich

06/04/2017 German office properties specialist Consus Commercial Property intends to list their stocks on the Börse München. The first listing is planned for April 13 in segment m: access. The company has furthermore increased its capital; 2.2 million shares were placed with private investors at a unit price of €15, with the number of shares consequently [...]

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Stuttgart: Foundation stone laid at the Olga grounds

06/04/2017 The foundation stone was laid for a new urban quarter on the former grounds of the Olga Hospital in the west area of Stuttgart. 224 residential units, divided in four construction fields, will be built on the 16,400-sqm area by early 2019. Principals are SWSG, Siedlungswerk Stuttgart, Mörk Immobilien and various private joint building ventures. [...]

Frankfurt: US law firm Goodwin Procter moves into the TaunusTurm

06/04/2017 The US law firm Goodwin Procter LLP is setting up its new Frankfurt offices in 1,500 sqm of letted space on the 35th floor of the TaunusTurm. The lessor is a consortium involving Tishman Speyer. The firm, with origins in Boston, specializes in real estate and private equity investments and their financing in Germany. Clients [...]