News from 03/12/2007
The British private investor Edinburgh House Estates Limited currently plans property acquisitions of over €1bn in Europe.
Calliston: Properties sold in Berlin and Dresden
Calliston Gesellschaft für Projektentwicklung mbH has sold two office and retail properties in Berlin and Dresden with a total area of around 25,000 m² for €48.5mn to HDG Mansur. The US investor acquires the properties Ernst Reuter Platz 2 (Berlin) and Blasewitzer Strasse 78-82 (Dresden) for the HSBC Amanah Global Properties Income Fund. The transaction was brokered by Ashurst and Freshfields Bruckhaus Deringer.
BayernLB: Property business to be expanded
Bayerische Landesbank (BayernLB) wants to develop its property business. According to information from Rudolf Hanisch, BayernLB's second-in-command, there's already a team of 25 employees for structured financing. Among other things, this team specializes in the sale and subsequent divestment of portfolios.
Erfurt: Gagfah offers €160.5 for KoWo residences
Next to DKB Wohnungsbaugesellschaft Thüringen, a firm of Deutschen Kreditbank AG, Gagfah Immobilien Management GmbH is interested in Kommunalen Wohnungsgesellschaft's (KoWo's) sale of 5,085 residences in Erfurt. DKB's offer for the sale is €156mn, Gagfah's €160.5mn. Despite the low sales price, KoWo would like to sell it to DKB. The city council must approve the transaction.
The Swiss project developer Unimo considers a sale of the Karstadt Haus in K1.