TD News International: 06/03/2018

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Barings buys Karstadt central warehouse as first German logistics property

06/03/2018 Barings Real Estate is the new owner of the 184,000 sqm Karstadt central warehouse in Unna near Dortmund. According to a company release, the purchase price was roughly €90mn. The seller is a joint venture of M7 and a US investor, who had only bought the property in late 2016. TD had exclusively reported on [...]

Vonovia increases FFO by 21 % – cooperation with Max Bögl

06/03/2018 Vonovia has increased its FFO by 21 % to €920.8mn during the 2017 business year. Rental income rose by 8.4 % to €1.7bn, the monthly rent per square meter increased to €6.27. The result of €2.57bn, which was only slightly higher than the previous year, was owed in part to real estate services with €102.1mn [...]

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Berlin: P.ARC plans 20,000 sqm office space in Oberschöneweide

06/03/2018 P.ARC Real Estate intends to develop roughly 20,000 sqm office space in Berlin’s Oberschöneweide district. Peterson Group, an owner-managed family office based in Hong Kong, bought an 8,600 sqm lot from a private seller for the project on 1 March. Savills brokered the deal. The building application for a complete redevelopment of the site is [...]

Deutsche-Hypo-Index: Climate continues to decline, office beats housing for the first time

06/03/2018 The real estate index of Deutsche Hypo declined for the second consecutive month in March, this time by 1.7 %. The reading of 133.4 points reached the level of September 2017. The drop is mainly due to the decline of the investment climate by 2.7 %, while the rental climate just lost 0.6 %. The [...]

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INP issues fund with five care facilities

06/03/2018 Fund provider INP, who specializes in social property, has launched its 25th care fund. The private AIF invests in five properties: The seniors’ residence and care facility “Am Kastell”, an addition in Groß-Gerau with 71 resident care places, the “Stadthaus am Zwingerwall” in Goslar with 91 resident care places, the nursing care facility “Neues Schützenhaus” [...]

Stuttgart: LaSalle buys “Salamander-Haus” for €73mn

06/03/2018 LaSalle has acquired the “Salamander-Haus” in Stuttgart’s prime location Königstraße 19a for €73mn. The seller of the 4,700 sqm structure is La Française. The transaction is structured as a share deal, with LaSalle having bought 100 % of shares of the GmbH. The purchase was transacted on behalf of the investment foundation Testina. LaSalle was [...]