Union Investment Real Estate GmbH has purchased the "Torre Oriente" in Lisbon for approx. 70 million Euros. The acquisition marks Union Investment's entry into Portuguese real estate market.
Union Investment Real Estate GmbH has acquired the "Rund Vier" office building in Vienna from IC Projektentwicklung GmbH. Completed in August 2009, the property offers 21,000 square metres of rental space, some 85% of which has already been let to major companies such as DB Schenker, Unilever Austria, dpw Software, Sandoz Novartis and Baxter.
Union Investment Real Estate GmbH has signed a purchase agreement for the shopping centre "K" located in Kortrijk, Western Flanders. The seller is Foruminvest, the developer of the centre, which will remain responsible until the opening and remain involved in the management of the center afterwards. When finished in spring 2010 the centre will comprise 33.290 sqm retail floor space, 20 apartments and approx. 1.050 underground parking places.
Assets under management up 17% since the start of the year / Total fund assets reach new record of over EUR 18 billion -Union Investment has consolidated its position as one of Europe's leading property investment management companies during 2009, with property assets under management up 17% (EUR 2.6 billion) since the start of the year. Total assets in the four retail real estate funds and two institutional funds passed the EUR 18 billion mark for the first time.
Eighty-five percent of shops already leased - DGNB gold preliminary certificate for sustainable building - ECE brings first Migros store to Rhineland-Palatinate
The Rhein-Galerie in Ludwigshafen has been awarded a pre-liminary gold certificate by the German Sustainable Building Council (DGNB) at EXPO REAL. The Rhein-Galerie, which unites exceptional urban design with high environmental quality, ranks as one of the most spectacular retail projects in the Rhine-Neckar region.
Union Investment Real Estate GmbH has purchased the Motel One hotel in Hamburg Neustadt for its Immo-Invest: Europe institutional real estate fund from Neuer Steinweg GmbH & Co. KG, a joint venture of Deutsche Immobilien AG and Hamburg Team. The Motel One hotel is scheduled for completion in April 2010 and due to open in June 2010. The parties have agreed not to disclose the purchase price.
Letting of Vision Crest Commercial in Singapore almost complete
Despite the significant impact of the real estate crisis on countries around the world, including Singapore, Union Investment Real Estate GmbH has successfully let three entire storeys of the Vision Crest Commercial office building, which it acquired in 2008 as a development project. In total, more than 4,000 square metres of space has been let on long-term leases. The office ensemble, which is part of the UniImmo: Global portfolio, is now virtually fully let.
Wulff Hanseatische Bauträger is building 38 apartments in EMPORIO - Union Investment Real Estate GmbH has sold the apartments that are part of the Emporio quarter to property developers Wulff Han-seatische Bauträger GmbH. There are 38 apartments in all, with a total rental space of around 3,670 m². The real estate purchased by WHB also includes a 580 m² retail area on the ground floor.
Union Investment Real Estate GmbH has acquired the office building "A4C" in Paris Rive Gauche in a transaction worth some EUR 177 million. Completed in 2006, the fully let property offers total rental space of 25,400 sq m.
- 95% pre-let
- Completion scheduled for March 2010
- 30 million euro investment
- Pirelli RE responsible for project development, letting and centre management
- Union Investment acquires shopping centre for the open-ended Real Estate Investment Fund UniImmo: Deutschland for 164 million Euro - Largest single deal in Germany this year
- Centre and Property Management awarded to Pirelli RE for a further 5 years
The bi-annual Prime Property Award organised by Union Investment recognises investors whose exemplary projects incorporate sustainability factors in the development and refurbishment of commercial and residential buildings. This ,prestigious competition is being held for the second time from 1 August 2009, with the awards set to be presented in 2010.
Demolition work begins inside tower. With the Unilever Group's employees having moved out, Union Investment Real Estate AG commenced construction work on the Emporio high-rise block at the beginning of July. The building is currently being cleared out and general contractor Hochtief Construction AG is starting with what is known as "soft demolition". The entire office block is being gutted, including ripping out the existing building services, with extensive core drilling and demolition work being carried out for the new lift shaft. The first fit for the new building services will commence in early 2010 when interior work on the new offices will also start.
Sharp rise in Investment Climate Index in UK - signs that market is also bottoming out in Germany and France. After a significant deterioration in sentiment in the second half of 2008, European property investors now appear to have largely put the gloom behind them. Union Investment's Investment Climate Index rose for the first time since autumn 2006 in France and the UK, reflecting growing confidence among investors in those countries with regard to both their own business prospects and the state of the property market in general.
Union Investment's UniImmo: Deutschland and UniImmo: Global retail funds again delivered good performance for investors during the 2008/2009 accounting year.
Union Investment Real Estate AG continues to invest actively in the European core markets. The Hamburg-based investment management company has acquired the 26,900 sq m West-Park office building in Zurich on behalf of its UniImmo: Global open-ended real estate for some EUR 104.3 million.
Hamburg-based Union Investment Real Estate AG has acquired the logistics centre in Bad Hersfeld from Goodman Bad Hersfeld Logistics (Lux) S.a.r.l. for its ImmoInvest: Europa institutional fund. The 102,020 square metre development project will be completed in September of this year.
Now the biggest shopping centre in the region +++ €20 million investment
Grand opening: On Thursday, 23 April, the extension to the Allee-Center was opened in Remscheid, a town in the German state of North Rhine-Westphalia. It includes a new branch of H&M. Enlarged by some 4,000 square metres, the Allee-Center is now the biggest shopping centre in the "Bergisches Land", a hilly, upland region in the heart of western Germany.
The Bell Trinity Square office/commercial building, part of the existing Union Investment Real Estate AG portfolio, has been awarded LEED-EB Gold certification by the US Green Building Council. It is the first property in Toronto to receive a Gold certificate in the Existing Buildings category. Open-ended real estate fund UniImmo: Global has a 65% stake in Bell Trinity Square, the remaining 35% being held by institutional real estate fund Immo-Invest: Europa.
The shopping center Forum Mersin a property of the UniImmo: Global has received one of four ICSC European Shopping Center Awards 2009 . At the European Conference of the International Council of Shopping Centers in Barcelona on 24 April, the Turkish Mersin retail property in the category "New Development - Large" was chosen as a award winner .
Former Unilever high-rise to be sustainably revitalized and extended in a EUR 138 million contract.Union Investment Real Estate has commissioned HOCHTIEF Construction as general contractor to realize its Emporio urban quarter in downtown Hamburg. The HOCHTIEF subsidiary, which was already involved in the planning phase, has partnered with the client under the PreFair business model to optimize the project surrounding the former Unilever high-rise building.
Hamburg-based Union Investment Real Estate AG has acquired the "Centro Commerciale Rondo" shopping center in Italy for its UniImmo: Deutschland open-ended real estate fund. Open since August 2008, the shopping center is located roughly 1.5 kilometers to the northeast of downtown Monza and has around 28,000 square meters of rental space.
Hamburg / Frankfurt, 9 March 2009 Union Investment Real Estate AG purchases the ATMOS office building in Munich's Arnulfpark® from Vivico Real Estate GmbH. The purchase price was over 100 million euros. The office project is a fur-ther addition to the broadly diversified portfolio belonging to the UniImmo: Deutschland. Atisreal was a consultant for the purchase.
Office buildings in Munich and Hamburg gain first certificates for sustainable building
Three properties from the portfolios managed by Union Investment Real Estate AG are among the first buildings in Germany to be certified in accordance with sustainability criteria. The Laim290 and Riem Büro West office buildings in Munich and the Emporio project in Hamburg, which involves extensive refurbishment of an existing high-rise building, all picked up quality awards from the German Sustainable Building Council (DGNB).
Hamburg-based Union Investment Real Estate AG has acquired the Solaris office building in Vienna for its UniImmo: Deutschland open-ended real estate fund. The vendor of the property, which was completed in September 2008 and offers around 9,000 square metres of space, is Vienna-based S + B Gruppe AG.
