TD News International: 06/05/2019

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Bremen: Justus Grosse takes over housing construction in Europaquartier

06/05/2019 Gustav Zech Foundation is passing on a large portion of the Europaquartier project in Bremen’s Überseestadt shortly after taking it over: Justus Grosse Real Estate will be developing seven residential buildings with 210 privately financed apartments and another residential and retail building. Another roughly 120 subsidized apartments in two structures on Konsul-Smidt-Straße were sold to [...]

Rent price index: Storage and production halls beat classic logistics properties

06/05/2019 Rent prices for logistics, storage, and production property increased in 2018 by 8.7 % compared to 2017. These are the findings of the IWIP (real estate rent price index) published by IW Köln and consulting firm IndustrialPort. The index examines 16,000 buildings of different ages and categories. Individually, the sub-index for storage increased by 7 [...]

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BMW creates 20 ha additional storage capacity in Lower Bavaria

06/05/2019 BMW has begun expanding its parts storage facility near the production plant on Industriestraße 5 in Dingolfing (Lower Bavaria). As a company spokesperson told TD, the automaker is adding a 100,000 sqm hall to its “Dynamic Center” at that location by 2020. BMW is handling the development themselves. The reason for the decision is the [...]

Credit Suisse launches new open-ended fund

06/05/2019 Credit Suisse has launched another open-ended real estate fund for private German investors. The “CS ImmoTrend Europa” also addresses institutional investors and will be acquiring mainly retail, office, and logistics assets across Europe. To start, the fund is buying an office building in Erfurt and a hotel/retail property in Aachen for a total of €47mn. “We are [...]

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Fraport leases 5,000 sqm office space in Frankfurt Airport Center

06/05/2019 Godewind has established a lease for 5,044 sqm office space at Frankfurt Airport Center (FAC) with an MDax company. As TD learned from market insiders, the party in question is airport operator Fraport. The lease starts on 1 October of this year and has an initial term of five years. Godewind had acquired the office complex, [...]

Cresco buys event location “Station-Berlin”

06/05/2019 Cresco Capital has acquired the event location “Station-Berlin” and its operator. The property is a landmarked real estate ensemble on Luckenwalder Straße 4-6 in Kreuzberg consisting of eleven historic halls and new structures totaling about 26,400 sqm above-ground GFA. The location will continue to be used in the coming years for conferences, exhibitions, trade shows, [...]