TD News International: 07/05/2018

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JP Morgan buys office park near Munich

07/05/2018 A fund by JP Morgan is about to acquire the office park on Einsteinring in Aschheim near Munich from Leipzig-based commercial property investment firm Publity. This was reported in a cartel office release, and informed insiders have confirmed the planned deal to TD. The purchase price is said to be in the high double-digit millions, [...]

Bremen: Justus Grosse intends to build 1,200 apartments

07/05/2018 Justus Grosse plans to develop the 147,000 sqm Brinkmann site in Bremen-Woltmershausen, which they bought from Sirius, together with neighboring owners like energy supplier SWB, into a “widely mixed district” over the coming years. The intention, Justus Grosse states, is to create up to 1,200 housing units. According to initial estimates, the firm will invest [...]

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Office market: Value index by JLL climbs more slowly

07/05/2018 Although JLL’s office value development index “Victor” recorded a new high of 183.9 points during the first quarter, the increase of 1.8 % over the previous quarter was significantly smaller than during the final quarter of 2017 (+4.1 %). The growth is mainly due to rising rents and vacancy reduction, while the development of prices [...]

Berlin: KW builds 600 rental units in Johannisthal

07/05/2018 KW-Development is planning roughly 600 new rental apartments at the periphery of the science and technology park in Berlin-Adlershof. The units will be built on a 32.000 sqm lot on Eisenhutweg 54/76 in the adjacent Johannisthal district. Plans by Fuchshuber Architekten include a total of roughly 34,000 sqm living space and a child care center. [...]

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Kaufhof closes stores in Solingen and Hof – HBC Europe Manager dismissed

07/05/2018 The suffering department store chain Kaufhof is closing its branches in Hof and Solingen. As the company released, the leases at the two locations expire in late January and late March 2019 and will not be extended. In Hof (16,000 sqm), Kaufhof explains the decision with the property owner’s plans to build a new hotel. [...]

Intaurus sells light industrial property in Ismaning

07/05/2018 Intaurus has sold the light industrial property on Oskar-Messter-Straße 16-18 in Ismaning near Munich to M-Concept Real Estate. The complex consists of two buildings erected in 1981 totaling about 10.000 sqm floor space on a 7,600 sqm lot. According to a release, the buyer intends to modernize the properties. The new tenants will include service [...]