TD News International: 15/12/2017

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GPEP buys 49 grocery stores for Spezialfonds

15/12/2017 GPEP, as portfolio manager for a Spezialfonds issued by Universal Investment, has purchased a mixed asset portfolio with 49 properties comprising around 200 rental units. 90% of the properties’ approx. 175,000 sqm is being used for retail, with the remaining 10% used for office, warehouse, and residential space. About 60% of the properties are located [...]

DIC office fund buys properties in Dortmund and Bremen for €30mn

15/12/2017 DIC Asset has acquired two office properties in Dortmund and in Bremen for a total of about €30mn for its Spezialfonds Office Balance II. The Dortmund property, on Königswall across from the main rail station, has a lettable space of about 4,800 sqm. The insurance company Continentale BKK is one of the anchor tenants. The [...]

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Art-Invest puts venture capital into real estate startups

15/12/2017 The real estate investor and developer Art-Invest has founded a venture capital firm for real estate startups together with Kai Panitzki, former Member of the Executive Board at Finlab in Frankfurt. The new enterprise, named BitStone Capital, is intended to take advantage of opportunities arising in the coming years in the digitization of the property [...]

Cologne: pbb finances development on Deutz Area

15/12/2017 The Düsseldorf project developer Gerchgroup has secured financing for the development of the former Deutz AG premises in Cologne’s Mühlheim district. The pbb Deutsche Pfandbriefbank in Munich is providing a €140mn loan as acquisition financing for the approx. 160,000 sqm site, on which a new city quarter is to be built in the next years. [...]

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Frankfurt: Monachia Grundbesitz buys Opus office building

15/12/2017 Warburg-HIH Invest Real Estate has sold the Frankfurt office building “Opus” to Monachia Grundbesitz, a sister company of Dibag Industriebau. The office building was part of the open-ended Spezial-AIF “CEFI II”. The Opus, located at Schumannstrasse 27 im Westend, was built in 1969 and purchased by Warburg-HIH Invest in 2009 after a revitalization. Its nearly [...]

Hamburg: “Morgenpost” lets 2,100 sqm in new Behrendt building

15/12/2017 The newspaper “Hamburger Morgenpost” is letting approx. 2,100 sqm in the newly constructed ottensenOPEN at Barnerstrasse 14, brokered by Angermann. The Hamburg real estate company Berendt is building the office building on the former bunker site since the beginning of this year. Construction is scheduled to be completed in April, the newspaper publisher wants to [...]