TD News International: 15/10/2018

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Deutsche Bahn wants to get into the Co-working business

15/10/2018 According to a report by the “Spiegel”, Germany’s national railway operator Deutsche Bahn wants to create co-working spaces at railway stations. The project is to kick off next year. The service addresses mainly commuters and business travelers. A pilot project at Berlin’s main station this past summer was successful. No locations have been chosen, the [...]

d.i.i.: New Spezialfonds invests in existing apartments

15/10/2018 D.i.i. Investment has launched another closed-end real estate Spezialfonds with a target investment volume of roughly €220mn and €80mn in equity. The “d.i.i. 10” is intended for family offices, wealthy private investors, and foundations that subscribe at least €200,000. The fund invests in existing apartments with value-add potential – mainly in the metropolitan regions Rhein-Main, Hamburg, Cologne, Düsseldorf, Berlin, [...]

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Purchase prices for new condominiums in Hamburg are dropping

15/10/2018 In the city of Hamburg, purchase prices for new condominiums declined in September compared to the previous year by 0.9 % to now €5,809/sqm. A minimal decrease (-0.2 % to 5,380 €/sqm) was recorded in the greater Hamburg area as well. Particularly large price reductions in Altona and Eimsbüttel contributed to the drop, Project Immobilien [...]

Allianz Real Estate participates in opportunistic investments in China

15/10/2018 Allianz Real Estate is acquiring 35 % of a closed-end fund that focuses on opportunistic investments in value-add commercial properties in China and Hong Kong. The remaining shares of the “KaiLong Greater China Real Estate Fund II” are subscribed by other investors with similar strategic orientations. In total, fund manager KaiLong Group wants to collect [...]

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Electronics retailer Ceconomy fires CEO

15/10/2018 Ceconomy is parting ways with its CEO Pieter Haas. The parent company of electronics market chain Media-Saturn announced on Saturday that both Haas and CFO Mark Frese will be leaving the company. Unlike Haas, who is leaving immediately, Frese will stay in his position until a new CEO has been appointed. The management of Media-Saturn [...]

P3 sets a course for 770,000 sqm – large lease with Arvato

15/10/2018 Logistics park developer P3 will be managing about 770,000 sqm logistics space in Germany by the end of 2021. According to P3’s Managing Director Germany Jürgen Diehl, projects currently in planning or under construction will be adding roughly 450,000 sqm to the current portfolio of about 320,000 sqm. If further deals currently being negotiated are [...]