News from 03/14/2007
ThyssenKrupp has sold 25 commercial properties to a consortium of three investors for €250mn. In addition to office and industrial properties, the package contains the current location of the concern's headquarters, the “Dreischeibenhaus“ in Düsseldorf.
In Nordrhein-Westfalen, Germany's most populous state, the prices and rents for residential properties have remained constant for the past twelve months—this according to the property association IVD West through Preisspiegel NRW-Wohnimmobilienmarkt 2007.
Hamburg: Property-tendering process stopped—HHLA can go public
The property-tendering process on the planned partial sale (up to 49.9%) of the city's Hamburger Hafen und Logistik (HHLA) AG has been stopped. Instead, Hamburg's Senate has opted for an IPO. Through the partial privatization remedy, the city of Hamburg wants to bring in €1.2bn. According to information from financial authorities, around 30% of the firm can be brought to the stock market in the form of common shares. With the proceeds, the city wants to finance its planned multi-million investments in streets, tracks, and wharfage in the harbor, for in the budget there are no funds. The Australian bank Macquarie and a Hochtief consortium were last still in the running as possible investors.
Alt & Kelber: 1,312 residential units sold to a subsidiary of Corestate Capital
Alt & Kelber Wohnungsprivatisierung and Alt & Kelber Wohninvest have sold 1,312 residential units and three commercial units in Berlin, Brandenburg, Bremen, Sachsen, Sachsen-Anhalt, and Thüringen to a subsidiary of Corestate Capital AG. According to some information, Alt & Kelber wants to take over more asset and property management of the residential portfolio for the new owner.
Hessen: State wants to sell 40 properties and sites
Hessen wants to sell a third package (Leo III) with 40 state-owned public properties and sites or plots. According to the Financial Times Deutschland, Finance Minister Karlheinz Weimar (CDU) expects proceeds of €400mn. The state commissioned HSH-Nordbank with the marketing of Leo III. After the sale, Hessen wants to lease back the properties.