TD News International: 06/12/2018

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Berlin: Ardian buys Mitte “TeleCity” from J.P. Morgan

06/12/2018 The investment company Ardian has purchased the “TeleCity” office complex, located at Lützowstrasse 105-106 in Berlin’s Mitte district, the fourth acquisition for its Real Estate Europe Fund (AREEF) in Germany, together with an institutional co-investor. The seller is a fund managed by J.P. Morgan. The buyer was advised by Cushman & Wakefield, CBRE Preuss Valteq, [...]

Vonovia cuts back renovation program after tenant protests

06/12/2018 Vonovia will not carry out energy efficiency improvements over the next two years as planned. The housing company is cutting back the planned investments by 40%, citing growing resistance to the associated rent increases as the reason in its nine-month report. After modernization, Vonovia rents will now rise by no more than €2/sqm. The association [...]

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Trend reversal after nine boom years

06/12/2018 The long boom on the German real estate market is now coming to an end. “Of this we’re almost certain,” Savills has predicted in its recent market outlook, although a downward slide is not expected. Transaction volume on the German commercial real estate market is likely to move towards €50bn next year after the predicted [...]

Frankfurt: UBM plans 18,000 sqm office building in Niederrad

06/12/2018 UBM has acquired a 5,500 sqm site in Colmarer Straße in Frankfurt’s Niederrad district, where it plans to construct an approximately 18,000-GFA multi-tenant office building with seven upper floors with a lower level. 15,000 sqm GFA are to be used for commercial purposes, while the remaining 3,000 sqm will be for parking, according to a [...]

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Cologne: Cube Real Estate acquires “Irishöfe” from Circle

06/12/2018 Cube Real Estate and Pegasus Capital Partners have acquired the “Irishöfe” project, located at Kasernenstraße 2 in Cologne’s Kalk district, in a share deal. TD has learned from market insiders that the seller is Circle Development in Cologne, which had already seen the project to its zoning ordinance, together with the Cologne architectural firm Dewey [...]

Signa invests in Inreal

06/12/2018 The PropTech company Inreal Technologies, which specializes in virtual representations, has found another investor. Jürgen Fenk, CEO of Signa Innovations AG and member of the Signa Group Management Board, says that the two companies wish to jointly establish a new standard for real estate marketing. Inreal not only offers virtual tours; it is also a [...]