TD News International: 25/04/2019

Advertisement

Retail: restaurants surpass fashion for first time

25/04/2019 According to JLL, a turning point has been reached in German retail in the 1st quarter: for the first time food outlets rented more space than textile retailers. Fashion retailers signed 68 leases for a total of 28,000 sqm, while the gastronomy/food sector signed 80 leases for a total of 31,000 sqm. Dirk Wichner, Head [...]

Deutsche Hypo increases profit, takes on less new business

25/04/2019 Deutsche Hypo’s earnings for 2018 exceeded those of the previous year, with earnings from normal operations having increased by 19.1% to €74.7mn. This was due to a better risk result and a special gain of €12.1mn from the sale of a debtor warrant issued by the Austrian bad bank Heta. The Nord/LB subsidiary held back [...]

Advertisement

TAG increases FFO by 12%, existing tenants pay 1.3% more

25/04/2019 The residential investor TAG Immobilien increased its operating profit (FFO I) in the first quarter by 12% year-on-year to €39.5mn. This was based on its acquisition of around 2,500 apartments which took effect at the end of 2018, in addition to ongoing rental growth and refinancing. Net rents of the 84,000 units in the portfolio [...]

Publity, Korean firms partner for office building acquisitions

25/04/2019 Publity has teamed up with the South Korean investor Meritz Financial Group and the asset management firm Igis for the acquisition of German office properties. Joint investments “in the higher three-digit million range” are planned for the coming 18 months. As majority owner, Publity will place the acquired properties in its portfolio. Focus will be [...]

Advertisement

Zima sells part of the “Römertor” in Gersthofen to HanseMerkur

25/04/2019 Zima Immobilienentwicklung is selling part of the “Römertor” residential quarter in Gersthofen, near Augsburg, to HanseMerkur Grundvermögen as part of a forward deal. The sale involves a complex with supervised apartments and small commercial units. It has approx. 6,500 sqm of UFA and has been let long-term to the humanitarian organization Johanniter-Unfall-Hilfe. HanseMerkur plans to [...]

Darmstadt: Warimpex acquires former Telekom conference hotel

25/04/2019 Warimpex has acquired a former conference hotel at Hilpertstraße 27, Darmstadt, from the Telekom subsidiary Commundo. The three-star hotel, which closed at the end of July 2018, has 16,801 sqm of UFA, 324 bedrooms, 26 conference rooms, 820 sqm of office space and 217 parking spaces. Warimpex wants to reopen the hotel in the 3rd [...]