Fürstenhof has a new owner. DFH Deutsche Fonds Holding AG has acquired the office/commercial building in Frankfurt's financial district for 126 million euros from Union Investment Real Estate GmbH. DFH Deutsche Fonds Holding AG, a subsidiary of DIH Deutsche Immobilien Holding Beteiligungsgesellschaft m.b.H., plans to include the listed property in a yet-to-be-launched closed real estate fund.
Property investors and users in dialogue about sustainable solutions that work for everyone
Sustainability makes financial sense – but what are the concepts and strategies behind commercially successful green property investments? At the Sustainable Investment Conference, international best-practice companies will be demonstrating how investors and users alike can benefit from the trend towards sustainability. This special forum is being held on the second day of EXPO REAL (5 October 2010, from 10.30 a.m. to 1.30 p.m.), the 13th International Trade Fair for Commercial Property and Investment in Munich.
Union Investment has sold 10 Gresham Street in the City of London to a joint venture between Hammerson and the Canada Pension Plan Investment Board for GBP 175 million.Union Investment acquired 10 Gresham Street in 2009 at a time considerable uncertainly, buying the office building from British insurance company Standard Life for GBP 141.5 million on behalf of its open-ended real estate fund UniImmo: Europa.
Although green real estate investment has become a major issue for the property industry, sustainability remains a complex subject. A new Web portal provides detailed information about green buildings as an emerging asset class.
Union Investment has acquired the Saint Martial shopping centre in Limoges from Unibail-Rodamco for 99 million euros. The approximately 15,000-square metre property has been added to the UniImmo: Europa open-ended real estate fund, which now has nearly 30% of its assets invested in the retail sector.
Sale price considerably higher than expert valuation / Performance boost for UniImmo: Global -
Hamburg-based Union Investment Real Estate GmbH has leveraged cyclical opportunities in the Seoul investment market to sell the 14-storey HI Building. The office block, which is let on a long-term lease to insurance company HI Investment & Securities and was acquired for open-ended real estate fund UniImmo: Global in 2006, was sold for around 54.800.000.000 KRW (36,5 million Euros) to a local investor, Kochem Co., Ltd.
Andreas Löcher has been recruited by Union Investment Real Estate GmbH to strengthen its Asset Management Hotels team. The 38-year-old, who holds a degree in business administration, took over management of the Hamburg-based property fund manager's hotel activities on 1 July 2010. Löcher joins Union Investment from Deka Immobilien GmbH, where he was head of its hotel division.
With effect from 1 July 2010, Volker Noack has been appointed deputy member of the management board of Union Investment Real Estate GmbH. The 46-year-old, who holds a degree in business administration, will be responsible for Fund Management and Finance and Participations. Noack joined Union Investment in 1996 and was previously head of the Fund Management department.
Europa Capital LLP, the general partner of Europa Fund II, and Union Investment Real Estate GmbH are pleased to announce the signing of a sale/purchase agreement concerning "Hofgarten Palais", Düsseldorf the 14,000m2 office development undertaken through Europa Fund II's Luxembourg subsidiaries. Union Investments acquisition is for its open-ended property UniImmo: Europa. The price is in the region of €60 million.
Completed in 2009 with prestigious sandstone facades, the "Hofgarten Palais" is located adjacent to the City's Hofgarten, within easy walking distance of Königsallee, Schadowstrasse and Altstadt which provide city amenities of the highest quality.
Union Investment Real Estate GmbH has acquired from Pirelli Real Estate the Große Straße retail premises in Osnabrück for their Unilmmo:Deutschland open-ended real estate investment fund. Pirelli RE has sold the property with effect from April 30th 2010 for a sum of 33.4 million Euro.
Union Investment has acquired the Horizon Plaza office building in Warsaw from IVG Immobilien AG in a transaction worth around EUR 103 million. The deal is the second Polish investment for the UniImmo: Global open-ended real estate fund. Union Investment previously purchased a shopping centre in Katowice for EUR 95 million in October 2008.
Immo-Invest: Europa takes profits on sale:
Union Investment Real Estate GmbH has sold the retail property at Schildergasse 60-68 in Cologne to a fund operated by Aachener Grundvermögen Kapitalanlage GmbH, achieving a price significantly above the original purchase price. The property, which is fully let to C&A, was originally purchased by Union Investment in 2003 and was one of the first to be acquired for its institutional fund Immo-Invest: Europa.
Ingo Hartlief is stepping down from the management team of Union Investment Real Estate GmbH and Union Investment Institutional Property GmbH with effect from 30 June 2010 to take up a new challenge.
Union Investment has acquired the office and shop premises "Lipinski" for one of its open-ended real estate funds for institutional investors. The complex is located in a prime location in Warsaw's central business district opposite the Marriott Hotel and the Palace of Culture. The seller is the construction company, Reinhold Polska, which belongs to the renowned Swedish Reinhold Group.
Habacker LogPark Holding has sold the first phase of its 80-hectare logistics park south of Hamburg to Union Investment Real Estate GmbH. The project was acquired for the portfolio of the UniImmo: Deutschland open-ended real estate fund.
The companies signed the contract of sale at the end of February. Construction will be completed in April and comprises a total of 27,000 square metres of space for logistics and office use plus external areas. The tenants are GEODIS Logistics Deutschland and a German textile company.
Frankfurt, 23 February 2010 - Vivico and Union Investment today held the topping-out ceremony for the office and commercial building Europa-Allee 12-22 in Frankfurt's Europaviertel (European Quarter). They were joined by Mayor Petra Roth, Councillor Edwin Schwarz and project participants. From this summer, the German headquarters of BNP Paribas will occupy around 67 percent of the office space available for rent in the building, which covers approximately 34,000 m² (322,917 ft²) of gross floor area (GFA).
Union Investment has finalized the agreement with Sonae Sierra and Foncière Euris/Rallye to become the new majority owner of Alexa in central Berlin. Each of the investors had a 50% share in the property and the Hamburg-based property fund manager paid some 316 million euros to acquire a majority stake (91%) in the 180-unit shopping centre on Alexanderplatz. Sonae Sierra, which will continue to be responsible for centre management, intends to exclusively hold the remaining 9% in Alexa in the future.
Union Investment has acquired the Westpol office building at Niedenau 61-63 in Frankfurt for one of its special real estate funds. The vendors are a member of the Rockpoint Group and RA Investment GmbH & Co. KG, each having held a 50% stake. Union Investment was advised by lawyers Clifford Chance, Frankfurt. The vendors were advised by Hammonds of Berlin.
Union Investment survey confirms growing interest in sustainable real estate investment in Europe - A significant number of property investment projects will incorporate sustainability criteria in the future, greatly increasing the likelihood of a separate asset class for green buildings emerging over the next few years. That is one of the findings of a recent survey by Union Investment involving over 220 investment decision makers at property companies and institutional real estate investors in Europe. 63% of the real estate experts surveyed in Germany, France and the UK intend to invest "significantly more" in sustainable buildings in the future, while some 60% stated that sustainability criteria are already an established part of their investment strategy.
Union Investment's Investment Climate Index up for the second time in succession / Sentiment in core European markets still affected by economic uncertainty / British investors leading the way again and taking on more risk
Portfolio expanded with focus on European core markets / Major investment in sustainable buildings - Union Investment was again one of the most active players in the European real estate market in 2009. The Hamburg-based property fund manager acquired properties worth 1.6 billion euros over the past 12 months.
Union Investment Real Estate GmbH has acquired the office/commercial building located at Karolinenstrasse 15-19 in Nuremberg for its UniImmo: Deutschland open-ended real estate fund. The vendor is B & L Group. Built in 1977, the property was completely renovated in 2009 and offers 3,065 sq m of retail space and 735 sq m of offices. The purchase price was 31 million euros. The building is 96% let on long leases to two established fashion chains.
Union Investment Real Estate GmbH has acquired the business premises "Geschäftshaus Ottensen" in Hamburg Altona, Ottensen district, for its open-ended real estate fund Unilmmo: Deutschland from Pirelli Real Estate and the B&L GRUPPE. Pirelli RE and the B&L GRUPPE have agreed to sell the property for 60.05 million Euros as of December 31st 2009. "With the "Mercado" shopping centre and the adjacent business premises, we have now acquired two excellent properties for our Germany focused real estate fund within the shortest period of time, both of which profit from the excellent commuter connections around Altona Station and which, with their first class tenant portfolio, guarantee a long-term stable cash flows," announced Dr. Frank Billand who is the member of the Board of Union Investment Real Estate GmbH, responsible for Asset Management Deutschland.
