Aroundtown buys property worth €1.4bn in H1
The Aroundtown portfolio is not growing quite as rapidly as it has been recently. After nearly doubling its assets over the course of 2017, the firm enlarged its portfolio during the first half of 2018 from €9.8bn to €11.9bn. Sales of €700mn to unnamed buyers were offset by acquisitions of €1.4bn. Aroundtown mainly purchased offices and hotels. Remarkably, the hotel acquisitions included an establishment in London, the Hilton Hyde Park. The portfolio had previously focused on Germany and the Netherlands. Further assets in Berlin, Frankfurt, Munich, Stuttgart, Utrecht, and Rotterdam were added. Aroundtown increased its FFO during H1 by 46 % to €379mn. Like-for-like rental income rose by 4.6 %.
Subscribers to our premium service have access to this article in full as well as to an additional 510,000+ news items: all filterable by topic, company, asset class, city or keyword. In TD Premium you can search for investment deals, leases, current project developments and company news with pinpoint accuracy.
TD Premium is Germany’s leading property information tool that interconnects news, transactions, project data, market and company information in a unique and flexible system.