TD News International: 22/01/2019

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TLG: Dayan prepares to take over supervisory board

22/01/2019 Amir Dayan’s Ouram Holding is pushing to replace most of the members on the supervisory board of TLG Immobilien. The holding has requested that chairman Michael Zahn, deputy chairman Michael Bütter, and Helmut Ullrich be dismissed at an extraordinary general meeting. Members Sascha Hettrich and Stefan E. Kowsk, who were appointed to the board after [...]

Hamburg: Arax enters the market with Poseidonhaus

22/01/2019 Assetmanager Barings has sold the 40,000 sqm office building “Poseidonhaus” in Hamburg’s City-Süd. Arax Properties acted as investment manager for the buyer, as TD learned from market insiders. The transaction was finalized before the end of last year. The building had been for sale since 2017, but the marketing process had been aborted. This second [...]

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Frankfurt: Triton leases 5,100 sqm in Omniturm

22/01/2019 Triton has leased roughly 5,100 sqm office space in Frankfurt’s Omniturm. The investment firm currently resides in Frankfurt’s Schillerhaus on Schillerstraße 18-20. The move into the new offices in the hybrid office and housing tower is anticipated in March 2020. The 45-story Omniturm is to be completed in the 3rd quarter of 2019 and will [...]

Union Investment: Lease rate at 96.6 %

22/01/2019 Union Investment signed new leases and extensions for 854,000 sqm of its real estate funds last year. The total lease rate is now at 96.6 %, which matches last year’s level (96.7 %). In Germany, contracts were signed for 475,000 sqm, including new leases for 73,000 sqm. The German office portfolio, the company reports, has [...]

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DIC Asset records double digit growth and reduces vacancies

22/01/2019 According to preliminary figures, DIC Asset increased its FFO this past year by 13 % to €68mn. In a release, the company particularly emphasizes the value increase of €160mn in their own commercial portfolio. This increase, DIC states, was mainly due to a reduction of the vacancy rate by nearly one quarter to currently 7.2 [...]

Deutsche Hypo Index starts with a plus

22/01/2019 The real estate climate index of Deutsche Hypo started into the new year with a plus of 4.4 % to 123 points. This balances out the losses of December (-4.3 %) and brings it back to the level of November 2018. Among the individual asset classes, the office climate saw the largest rise at +6.2 [...]