Foncière des Régions announces the signing of two agreements relating to the acquisition of two asset portfolios in Berlin, Dresden and Leipzig, via its German residential subsidiary Immeo AG. These transactions represent a total investment of €221 million, taxes and fees included.
The first portfolio (€184 million) comprises buildings in prime locations in Berlin, in the Charlottenburg, Mitte and Friedrichshain districts, and records average rental income of €9.1/m²/month. The second portfolio (€37 million) aims to strengthen Foncière des Régions’ presence in Dresden and Leipzig. These operations have the potential to create value by increasing rental income and forward sales margins.
In total, these acquisitions offer an immediate yield of 5.2%, an average reversion of 25% and an average price of around €1,710 per m².
Foncière des Régions is thus continuing its strategy by bolstering its position in these three flourishing and attractive cities where the company already has local teams.
Source: Foncière des Régions
The post Foncière des Régions acquires two portfolios in Germany for €221 million (DE) appeared first on europe-re.
AXA Real Estate Investment Managers SGP, an affiliate of AXA Real Estate Investment Managers, announces that it has completed the acquisition of three separate assets in London, Espoo and Madrid for a total consideration of approx.€208 million.
Approx. €169 million of these assets comprising Camomile court in London, Keilalahdentie 2–4 in Espoo, as well as a 50% stake of Gran Via 37, Madrid, have been acquired on behalf of the French public service additional pension scheme (“ERAFP”(1)). The remaining 50% of the Madrid retail asset has been acquired on behalf of a French collective investment fund, managed by AXA REIM SGP. Following the recent acquisitions AXA REIM SGP has now invested, on behalf of ERAFP, a total of €227 million since being appointed to manage a €350 million mandate in 2013.
Camomile Court 23, London acquired, on behalf of ERAFP, from Cordea Savills, on behalf of its European Commercial Fund, for £47.97 million (€64.23 million). The 76,632 ft² (approx.7, 119 m²), Grade A office asset comprises seven stores, plus a basement office.
Keilalahdentie 2–4, Espoo, Finland acquired for approx. €64.8 million on behalf of ERAFP, the asset is located in the established submarket of Keilaniemi and comprises 183,803 ft² (approx.17,076 m²) of office space, alongside 404 parking spaces, and it is expected that the building will be accredited a LEED ‘Gold’ rating.
Gran Via 37, Madrid was acquired on behalf of a 50/50 joint venture between ERAFP and a French collective investment fund, managed by AXA REIM SGP, for €79.7 million.
Pierre Vaquier, Chief Executive Officer of AXA Real Estate, commented: “The three acquisitions are directly in line with ERAFP’s strategy to acquire core and core plus assets, with good sustainability credentials in key European markets and we have relied on our strong local presence and expertise to simultaneously execute these high profile transactions. These core, well-let assets will provide secure long term income streams for investors, as we continue to manage the mandate and create value for our clients.”
Source: AXA Real Estate
The post AXA Real Estate completes the acquisition of three assets for approx. €208 million (EU) appeared first on europe-re.
Der Wohnimmobilienmarkt in Jena befindet sich im anhaltenden Aufwärtstrend. In nahezu allen Lagen und Segmenten beobachtete Engel & Völkers im ersten Halbjahr 2014 Preiszuwächse gegenüber dem Vorjahr.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 30 Jan 2015, 9:53 am
Development Securities completes recycling of investment portfolio with acquisition of 17,187 m² convenience retail investment asset in Newcastle.
Development Securities announces that it has acquired the non-foodstore element of The Killingworth Centre, a convenience retail shopping center near Newcastle from Wm Morrison Supermarkets plc for £19.2 mln (approx. €25.5 mln) at an 8.27% net initial yield.
Completed in 2000, The Killingworth Centre is the principal retail destination within Killingworth, a suburban commuter town 5 miles from Newcastle City Centre. The covered shopping center is the principal retail and leisure destination for the local community, comprising a 6,782 m². Morrisons foodstore, a 6,503 m², Matalan and 28 further retail units totaling 9,848 m², which are let to a range of national and local operators including Poundworld, Wilkinson, Card Factory and Boots. The Morrisons foodstore will remain outside of Development Securities’ ownership. The shopping center is currently fully occupied with a weighted average unexpired lease term of 5.1 years and offers a number of asset management opportunities.
Matthew Weiner, Development Securities PLC said: “The Killingworth Centre is a popular and well-located shopping centre that dominates Killingworth’s retail provision meeting all the modern day requirements of the convenience-focussed consumer. This high-yielding asset has a stable occupier base and strong footfall which is driven by the Morrisons foodstore, one of the best performing stores within their portfolio and which will remain outside of our ownership.”
Source: Development Securities Ltd
The post Development Securities acquires €25.5 mln of Newcastle retail scheme (UK) appeared first on europe-re.
Union Investment has sold its 50% share in the joint venture established with GLL Real Estate in relation to the RFF office property on Avenue de France to Oxford Properties Group of Canada.
Union Investment held the stake in its open-ended real estate fund UniImmo: Deutschland for 11 years.
The building was constructed between 2002 and 2004 by project developer SORIF in the ZAC Rive Gauche development zone, directly opposite the national library, and was financed by Union Investment and GLL at the project stage.
A long-term pre-letting agreement with state railway company Réseau Ferré de France (RFF) provided the necessary security. Comprising an entire block, the property offers total usable space of approximately 21,835 m² and enjoys an attractive location directly on the Seine.
“We were able to successfully leverage selling opportunities in the Parisian market for our investors, thereby further reducing the age of our fund holdings,” said Philip La Pierre, head of Investment Management Europe at Union Investment Real Estate GmbH.
Source: Union Investment
The post Union Investment sells joint venture stake in Paris office property (FR) appeared first on europe-re.
SEB Asset Management has started the new year by signing two rental agreements on Potsdamer Platz, Berlin. Daimler Real Estate GmbH will use its space at Linkstrasse 2 for another five years.
The company currently has 1,700 m² of office space there. In addition, office and real estate service provider WS Capital GmbH will move into about 550 m² in the building at Potsdamer Platz 1 as of 01 April 2015.
Peter Werner, CEO of WS Capital GmbH: “We deliberately wanted to rent in the heart of Berlin, so we decided on this central location. With its unique amenities and well-known tenants, Potsdamer Platz 1 is the ideal location for us.”
The two new signings come on the heels of the many successes logged by SEB Asset Management last year. Among other transactions, ICBC, China’s largest bank, moved into 670 m² at Potsdamer Platz 1 for a term of 15 years. At the same time, the international law firm Freshfields prematurely renewed its rental agreement covering 5,800 m² in the same building for ten years. The office tower at Potsdamer Platz 1, which was designed by architect Hans Kollhoff, forms the Premium Towers of Berlin, together with the Atrium Tower and Forum Tower. Alongside state-of-the-art amenities, the property offers spectacular views of the German capital.
Other world-renowned law firms such as Morrison and Foerster LLP and Olswang as well as the firm of Raue LLP also have offices at Potsdamer Platz 1.
Source: SEB Asset Management
The post SEB Asset Management signs agreements for 2,250 m² on Potsdamer Platz, Berlin (DE) appeared first on europe-re.
Durch die Finanzkrisen der letzten Jahre sind gute Anlageprodukte Mangelware geworden. Wem Anlagen in Finanzwerte zu unsicher sind, der weicht oft auf Immobilien aus. Doch was ist, wenn die Eigentumswohnung mal leer steht? Oder wenn der Mieter Ärger macht und am Ende vielleicht hohe Instandhaltungskosten die Rendite auffressen? Das alles ist bei der Pflegeimmobilie nicht der Fall. Die Plattform pflegeimmobilie-invest.de hat dies erkannt und sich auf den Vertrieb von Pflegeappartements zur Kapitalanlage spezialisiert.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 29 Jan 2015, 12:39 pm
Das vergangene Jahr war das Jahr der Neubau-Immobilien in Leipzig. Zahlreiche Objekte wurden dem Markt zugeführt und konnten bei Investoren punkten. Aufgrund der positiven Entwicklungen in Leipzig blickt das Immobilienunternehmen IMMOBASE ebenfalls auf ein erfolgreiches Geschäftsjahr zurück.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 29 Jan 2015, 10:57 am
GRIP Unit Trust (the “Fund”), the market-let UK residential property fund owned by APG and Grainger, announces the forward purchase of a new 90,000 ft² (8.361 m²) build-to-rent scheme from BY Development Limited (“Bouygues Development”) for £33.25 mln (€44.5 mln). Bouygues Development, which is also the developer of the scheme, has retained a stake in the ownership of the asset, as part of its commitment to the build-to-rent sector.
The development forms part of the wider Hallsville Quarter masterplan, a major new mixed – use regeneration project in Canning Town, London, which is being undertaken by Bouygues Development in partnership with the London Borough of Newham. In a highly prominent location, directly opposite Canning Town Tube Station, Hallsville Quarter forms part of the £3.7 billion (€4.9 bln) Canning Town and Custom House Regeneration Programme and will become the new town center for Canning Town.
The 16-story residential tower will provide 134 one and two bedroom apartments together with 25 car parking spaces and 4,173 ft² (371 m²) of resident amenity space. This purpose-built scheme has been specifically designed to provide accommodation aimed at private renters and to optimize property management efficiency. A PRS covenant has been applied and the permitted use under the lease shall be restricted for the first eight years, post practical completion, to private rented sector (“PRS”) accommodation.
Tracey Hartley, Grainger’s GRIP Fund Manager, said: “This transaction builds on an established partnership between Bouygues Development and Grainger and is further evidence of our commitment to the UK private rented sector. We now look forward to working alongside Bouygues Development and the London Borough of Newham to deliver this exciting new long-term development.”
Nicolas Guerin, Managing Director of Bouygues Development, said: “We are very pleased to close our second build-to-rent transaction in partnership with Grainger, with whom we have worked from concept design stage to create a bespoke PRS product of high quality in the exciting new mixed-use regeneration of Canning Town. We are firm believers in the build-to-rent sector and the PRS tower at Hallsville Quarter underlines our ongoing commitment to deliver purpose-built, professionally-managed, and institutional-quality homes for communities in London.
The post Grainger and APG’s PRS Fund makes €44.5 mln investment into London build-to-rent scheme (UK) appeared first on europe-re.
HAVI Logistics is the leading logistics provider for the system catering trade, delivering fresh and frozen goods to restaurant chains, service stations and similar facilities. To support its European expansion plans, HAVI commissioned Goodman to develop a new 12,000 m² temperature controlled logistics center in Rheinberg.
Goodman is investing in the new building, which is equipped with modern cooling technology. HAVI Logistics will lease the property, which is located near its headquarters in Duisburg, for an initial 10-year period.
Construction has already commenced and Goodman plans to handover the completed building to its customer in the summer of 2015. HAVI will use the facility as a central hub for German-wide distribution, serving its system-catering customers.
“In recent years we have established ourselves as the market leader for system catering trade logistics. To consolidate this position and realize our expansion plans, we require state-of-the-art properties in prime locations,” said Sven Sachse, Chairman of the HAVI Logistics Executive Board. “Goodman provided a comprehensive solution for us to efficiently serve existing and future customers in the German market.”
“Our customer-centric approach was vital in realizing this deal,” explained Jordan Corynen, Goodman Director for Germany. “In addition to securing the optimal location for the new development, Goodman went a step further by incorporating the refrigeration technology required to manage HAVI’s complex and specific storage requirements. This allowed us to propose a solution specific to the needs of our customer.”
Beyond building design and investments, HAVI Logistics will benefit from Goodman’s technical and operational property services support. A key feature of this is Goodman’s flagship property investment plan, a unique benefit Goodman provides to its customers that ensures all its properties are maintained to the highest market standards.
The post Goodman to develop 12,000 m² temperature controlled logistics center for HAVI Logistics (DE) appeared first on europe-re.
W. P. Carey Inc. announced that it has acquired a portfolio of 73 automotive retail facilities located throughout the UK, net leased to Pendragon plc for a gross purchase price, including fees, of £230.5 million (€308 million).
Pendragon is the largest automotive retailer in the UK with 225 franchise locations spread across the country. The group sells a range of new and used vehicles through its retail outlets, including light motor vehicles, luxury vehicles, commercial vans and trucks.
The 73-property, approx. 1.6 million ft² (14,864 m²) portfolio represents almost one-third of Pendragon’s UK dealership footprint and is widely spread across the UK in key locations, providing a nationwide offering of franchisees.
The triple-net lease portfolio has a weighted average lease term of 15 years and includes annual inflation-based rent escalation.
Jennifer Lucas, Executive Director of W. P. Carey, commented: “We are delighted to have completed this transaction, our largest in the UK to date, with a landmark tenant in an exciting growing sector. Given the long lease terms and the diversity of the properties acquired, we believe the Pendragon auto dealership portfolio is a strong addition to the W. P. Carey Inc. portfolio.”
Trevor Finn, Chief Executive, Pendragon, added: “It is reassuring to have, in W. P. Carey, a long-term investor for a portfolio of our dealerships in the UK and we look forward to working together with them.”
Source: W. P. Carey
The post W. P. Carey Inc. closes €308 mln acquisition of 73-property Pendragon Auto (UK) appeared first on europe-re.
CapMan Hotels RE fund starts a collaboration with Lapland Hotels by signing lease agreements for its hotel properties in Tampere and Oulu. The new long-term lease agreements come into effect at the end of 2015. Prior to this, the properties will undergo a comprehensive upgrade and facelift.
“We are happy to welcome a new interesting operator to our hotel properties. In the renewed hotels, Lapland Hotels can combine modern luxury with Northern mystique and culinary experiences. Lapland Hotels has a good service level and strong experience in international tourism. We believe, that they have an excellent foundation to further expand their operations into business travel,” comments Pirjo Ojanperä, partner at CapMan Real Estate.
“Finland has a lot to offer to the globally growing tourism industry. By expanding our business outside of Lapland, we are able to provide our services to the leisure and business travelers also in Southern Finland. To implement this strategy, we are happy to start cooperating with CapMan,” comments chairman of Lapland Hotels, Pertti Yliniemi.
CapMan Hotels RE fund was established in 2008, and it manages a portfolio of 40 hotels in Finland and Sweden. The portfolio includes amongst others the hotels Crowne Plaza and GLO Hotel Art located in Helsinki city center.
Source: CapMan Real Estate
The post CapMan Hotels RE fund starts collaboration with Lapland Hotels (FI) appeared first on europe-re.
Die Preise für Miet- und Kaufimmobilien in Freiburg stabilisieren sich auf ihrem derzeitigen Spitzenniveau. Trotz des knappen Angebots an Wohnraum besteht in nahezu allen Lagen und Segmenten nur noch wenig Spielraum nach oben. Dies geht aus dem von Engel & Völkers veröffentlichten „Wohnimmobilien Marktbericht Deutschland 2014/2015“ hervor.
Quelle: ImmobilienScout24 News "Rund um die Immobilie" | 29 Jan 2015, 9:32 am
INTERNOS Global Investors Limited, the €3.6 billion owner-managed real estate fund management firm, announces that its Netherlands team has signed H&M, the renowned multinational fashion retailer, on a 25-year lease at a 20,600 m² logistics asset in the Netherlands. The letting was secured on behalf of Hades Logistics B.V.
The asset, which will be fully occupied by H&M as of April 2015, is located at Lingewei 6 in the town of Tiel and comprises an 18,400 m² warehouse, 1,260 m² of office space, 940 m² of mezzanine space, 179 external car parking spaces, 45 external parking spaces for trucks and 31 trailer parking spaces. INTERNOS was assisted by Cushman & Wakefield and H&M has been assisted by BRICKS Advocaten.
Commenting on the letting, Hugo van der Goes, managing director at INTERNOS, Amsterdam, said: “We are very pleased to have closed such a long-term lease with a well-known and respected retail brand just three months after the departure of the previous occupier. To have completed the lease with such a high quality tenant demonstrates the importance of having local asset managers who understand the local occupier market.”
INTERNOS currently manages over 100,000 m² of logistics space in the region.
The post INTERNOS secures long-term letting with H&M in the Netherlands (NL) appeared first on europe-re.
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