TD News International: 28/03/2019

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Düsseldorf: Kö-Galerie for sale for over €420mn

28/03/2019 Allianz is planning to sell the shopping and office complex Kö-Galerie in Düsseldorf, as TD found out from market insiders. The property on Königsallee with 20,000 sqm retail and 30,000 sqm office space plus a Ruby Hotel is said to be on the market for more than €420mn. Allianz had bought it five years ago for [...]

Primonial expands Germany portfolio by 12 seniors’ residences

28/03/2019 The French Primonial REIM is taking over twelve seniors’ residences in Germany in a sale-and-lease-back transaction. Each of the facilities is leased to Advita Pflege for 20 years. They are being developed by Advita’s own development company. Five of the residences are already in operation; the others are being refurbished or are under construction. In [...]

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Aroundtown: Portfolio grows by 45 %

28/03/2019 Aroundtown bought real estate for €3.7bn last year, about as much as in 2017. Recognized in the balance sheet were new acquisitions for €3.1bn, which the company bought at a multiplication factor of 20. The sales volume for the period was over €740mn. Including appreciation, property holdings (commercial portfolio) grew by 45 % to €14.2bn, with [...]

Adler has €1.7bn in housing projects in the pipeline

28/03/2019 Adler Real Estate is planning more growth with its own developments in primary markets over the next six to seven years. The company states that its development pipeline for that period currently adds up to €1.7bn in projects. The new structures will be added to Adler’s own portfolio at 4 to 5.5 % initial net [...]

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Signa: Development contract for a city quarter in Wolfsburg, OK for Elbtower in Hamburg

28/03/2019 Signa Group will be developing a city quarter in the Nordkopf district south and west of Wolfsburg’s main station. The company has established a contract for the project with WolfsburgAG, the economic development company founded by Volkswagen and the city of Wolfsburg. Plans for the quarter include offices, housing, leisure facilities, retail, hotel, restaurant, and mobility [...]

CA Immo has record earnings and keeps on building in Germany

28/03/2019 CA Immo increased its group earnings in 2018 by 28 % to a new record total of €305.3mn. The plus was due in part to four project completions, two of them in Germany, and three acquisitions. The company’s property holdings increased by 17 % to €4.5bn, rental income grew by 7 % to €192.4mn. FFO [...]