TD News International: 22/02/2019

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Alstria: Hochtief buys back headquarters – new acquisitions for €62mn

22/02/2019 Hochtief has bought back its company headquarters in Essen. The 24,300 sqm office building on Opernplatz 2 was previously owned by Alstria Office. Twelve years ago, Hochtief had sold and leased back the property from Prime Office, which was taken over by Alstria in 2015. The current purchase price, TD learned, was €40mn. Meanwhile, Alstria [...]

Quantum now manages property worth €6.4bn

22/02/2019 The volume of property managed by capital manager Quantum Immobilien grew to about €6.4bn last year. The firm acquired assets for roughly €700mn, sales added up to about €160mn. Apart from acquisitions, development of existing property also contributed to the increase in AuM, Quantum states. Around 210,000 sqm were leased. In 2017, Quantum had purchased [...]

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Stuttgart: Berlin Hyp finances Lautenschlager complex with €55.7mn

22/02/2019 Berlin Hyp is issuing LBBW Immobilien Management a loan of €55.7mn for refinancing and refurbishing the Lautenschlager complex in Stuttgart. The loan has a ten-year term and is financing an ensemble of four buildings. In the first phase of construction, two new structures were built and one existing building renovated by the end of 2017. [...]

Berlin: East Side Mall now completely owned by RFR

22/02/2019 RFR Holding is buying all shares held by Freo Group of the new “East Side Mall” in Berlin-Friedrichshain. In that context Freo, who has been in charge of center management, will be handing over its responsibilities to Jovi Services as of 1 March 2019. The new center manager will be Viola Krecker, who most recently [...]

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BGA: Institutional investors increasingly interested in subsidized housing

22/02/2019 Transaction consultancy BGA Invest recorded a transaction volume of €627mn in 2018 – 5 % more than the previous year and more than any other year in the company’s history. Nearly half of the transactions were in residential assets at €300mn. Particularly, the interest of institutional investors in subsidized housing has increased, BGA states, adding [...]

Nuremberg: Office leases down 17 % due to lack of available space

22/02/2019 Nuremberg’s office lease market saw take-up of about 138.000 sqm in 2018, according to a market report by Küspert & Küspert. Take-up thus decreased by 17 % compared to the previous year, but a six-figure value was achieved for the third consecutive year. The decline is due entirely to the lack of available space, the [...]