Press releases
You will find the most recent press releases from Union Investment here. This page also has press releases from the last three years. Are you are looking for older press releases or do you have questions about special topics? Just contact the Press Office team.
Press archive
2018
Union Investment awards property management contracts for 150 commercial properties in Germany
• New 2+2 service provider strategy implemented
• Portfolio comprises two million square metres of rental space
• Sustainability and digitisation play important role in contract award
• Portfolio comprises two million square metres of rental space
• Sustainability and digitisation play important role in contract award
European real estate investors focus on risk avoidance in late stage of market cycle
• Expected style drift fails to materialise
• Increased caution around retail and hotel investments
• Investment Climate Index loses momentum
• Increased caution around retail and hotel investments
• Investment Climate Index loses momentum
Union Investment acquires planned office tower in Frankfurt
Union Investment is investing in a planned 100-metre-high office tower comprising 24,000 sq m of rental space in Frankfurt’s banking district. The acquisition will be added to the holdings of open-ended real estate fund UniImmo: Deutschland.
Union Investment ends first half of 2018 with strong letting figures
In the first six months of 2018, Union Investment let or relet a total of 242,000 sq m of commercial real estate space. Around 50 per cent of the lettings were in Germany.
Union Investment sells Pórtico office building in Madrid
Union Investment has sold the Pórtico office building in eastern Madrid to a fund managed by a French real estate investor. Comprising some 21,000 sq m of space, the property was constructed in 2005 and includes 413 parking spaces. It was acquired by Union Investment in 2008 and held in the UniImmo: Deutschland portfolio.
Union Investment sells office property in Helsinki
Union Investment has sold an office property with around 9,100 sq m of rental space in northern Helsinki. The eight-storey building, which includes an underground car park offering 150 spaces, is fully let to Skanska on a long-term lease. The buyer, Corum Asset Management, is seeking to boost its exposure to Finland.
Union Investment acquires two more commercial properties in Stuttgart Engineering Park
Union Investment has acquired two properties in the STEP Stuttgart Engineering Park. Completed in 2002, the STEP 4 infrastructure building offers around 7,000 sq m of rental space and is used for retail, restaurants and cafés and fitness facilities. STEP 8.3 is a six-storey office building with approximately 8,000 sq m of rental space which has only recently been completed.
Union Investment acquires Styria Center on Annenstrasse in Graz
Union Investment has agreed to acquire the Styria Center in Graz city centre. The building is a mixed-use property comprising residential, office and commercial units across a total of around 15,000 sq m of rental space. The vendor is a consortium of three private owners. The purchase price is approximately EUR 40 Million.
Joint Union Investment and ZBI residential fund adds properties worth around EUR 260 million
Open-ended real estate fund Unilmmo: Wohnen ZBI continues to grow. Following the successful acquisition of seven sub-portfolios comprising some 5,000 residential units in total, the fund’s assets under management have risen by EUR 258 million to EUR 781 million, with the one billion mark due to be reached later this year.
Investable hotel market in Germany grows to over EUR 52 billion
• Growth in traditional hotel segment and in new concepts – despite Airbnb
• Hotel market doubled in size over last ten years
• Eight per cent of hotel rooms changed hands in 2017
• Hotel market doubled in size over last ten years
• Eight per cent of hotel rooms changed hands in 2017
Union Investment acquires planned residential and commercial property in Vienna
Union Investment has acquired the planned EHK 107 residential and commercial property in Vienna via a forward funding deal. The scheme, named for its location at 105-107 Erzherzog-Karl-Strasse in Vienna’s 22nd district, will offer some 9,700 sq m of rental space.
Union Investment acquires planned logistics property in Rheinhessen region
Union Investment has acquired a logistics centre currently under construction and comprising 63,000 sq m of rental space in Monsheim near Worms, in Rhineland-Palatinate. Completion of the property is scheduled for the end of 2018.
Zebra Tower in Warsaw gains mBank as new tenant
Zebra Tower in Warsaw has gained another attractive tenant in mBank, the first fully Internet-based bank in Poland. The country’s fourth largest bank is set to occupy around 4,700 sq m of office space in Zebra Tower by 17 September at the latest.
Union Investment acquires planned student apartment complex THE FIZZ
Union Investment has secured the planned “THE FIZZ Vienna main station” micro apartment complex on Helmut Zilk Park for its Urban Living Nr. 1 special fund via a forward purchase agreement. The property will comprise over 195 apartments in one of Europe’s most popular university cities and is scheduled for completion in autumn 2019.
Union Investment sells Chinon Center in Hofheim am Taunus
Union Investment has sold the 14,800 sq m Chinon Center retail property in Hofheim am Taunus to Patrizia Immobilien AG. Completed in 2010, the complex includes a car park with 455 spaces across three levels and has been held by open-ended real estate fund Unilmmo: Europa since it was acquired in 2011.
Union Investment acquires Elements campus property in Mannheim
Union Investment has acquired the Elements campus property in Mannheim, comprising some 20,000 sq m of rental space. The property consists of seven building sections which were completed in two stages in 1994 and 2002. A total of 19 tenants from a variety of sectors contribute to the campus atmosphere of the site.
Union Investment acquires Park Inn by Radisson hotel in Krakow
Union Investment has acquired the Park Inn by Radisson Krakow, which opened in 2009. The transfer of rights and obligations with regard to the property is scheduled to take place by the end of May 2018. The 152-room hotel is located south of the Vistula river, close to the city centre and in the immediate vicinity of the modern ICE Congress Centre.
The Class of 2020 looks to the future at a conference in Hamburg
As part of a regional conference, The Class of 2020 will be discussing current opportunities and the latest strategies in the fields of co-working and micro-living at the Scandic Hotel Hamburg on 12 April 2018 from 2.00 pm. Union Investment is hosting the event and is one of the sponsors.
Union Investment acquires the Euro Alsace office building in Paris
Union Investment has acquired the Euro Alsace office building in Paris from Commerz Real. Located in the 10th arrondisse-ment close to Gare de l’Est station, the property has been held by Commerz Real’s closed-ended real estate fund CFB 165 since 2007. Union Investment acquired the office building for its institutional open-ended real estate fund UniInstitutional European Real Estate.
Union Investment acquires office property in Solna, Sweden from Fabege
Union Investment has acquired the U6 office property comprising approximately 18,000 sq m of rental space in Solna near Stockholm. The majority of the office space in the building, which was completed at the end of 2017, is let to Siemens.
Countdown to the PropTech Innovation Award
On 16 May, Union Investment and the German Tech Entrepreneurship Center (GTEC) will host the final of the PropTech Innovation Award 2018 in Berlin. Company founders and young entrepreneurs have until 15 March to enter this year’s round of the global technology competition.
Union Investment acquires lifestyle hotel The Porter
Union Investment has acquired the boutique and lifestyle hotel The Porter in Portland on the west coast of the US, which opened at the beginning of the year. Offering 294 rooms, the property is part of the Curio Collection by Hilton brand, a global portfolio of exceptional hotels for discerning travellers.
Union Investment acquires projected lifestyle hotel in Washington D.C.
Union Investment has agreed to acquire a Thompson-branded lifestyle hotel development in Washington D.C. The hotel will be built in Navy Yard, which is currently one of the most exciting urban development areas in the US.
Retail: Nuanced investment approach in a global upturn
The new Union Investment index analyses the attractiveness of the top 17 markets in Europe, North America and Asia-Pacific.
Union Investment acquires flagship store in Manhattan, New York
Union Investment has acquired a 17,000 sf retail property in one of Manhattan’s most dynamic submarkets the Meatpacking District. The property at 412 West 14th Street is Toyota’s new experiential retail concept, “Intersect by Lexus”.
Klaus Bollmann joins Union Investment Institutional Property GmbH management team
Union Investment has paved the way for the planned further growth of its institutional investor business by appointing Klaus Bollmann to the management team of Union Investment Institutional Property GmbH.
Union Investment lets nearly 10,000 sq m of office space in Warsaw
Union Investment has let a total of 9,900 sq m of office space across three different commercial properties in Warsaw. The largest share, at approximately 7,700 sq m, is accounted for by the Horizon Plaza office building at Domaniewska 39 in the Mokotów district, near the airport.
Union Investment achieves exceptional letting results in 2017
• New lettings and relettings totalled 867,000 sq m
• 30 per cent increase compared to 2016
• Relettings accounted for approximately 77 per cent
• 30 per cent increase compared to 2016
• Relettings accounted for approximately 77 per cent
Investor survey: product shortage as an opportunity for innovation
• European investors do not expect turning point in cycle before 2020
• Subdued investment climate for office and retail space
• Logistics expected to see largest increase in value
• Climate risks still receive only limited attention
• Subdued investment climate for office and retail space
• Logistics expected to see largest increase in value
• Climate risks still receive only limited attention
Retail competition First Store by Alexa Vol. II
The Alexa shopping mall in Berlin is once again on the hunt for the most innovative store concepts: applications for participation in the retail competition First Store by Alexa Vol. II opens January 31, 2018. The winner will receive six months’ rent-free retail space in Alexa and two runners-up three months each.
Union Investment acquires retail property in Madrid
Union Investment has acquired a high street property from Thor Equities comprising some 1,320 sq m of rental space in one of Madrid’s main shopping streets. The long-term tenant occupying the entire property is the H&M Group, which has established a flagship store for its COS brand in the building.
Union Investment acquires Mitte Town Hall in Berlin
Union Investment has acquired Mitte Town Hall, which is let to the federal state of Berlin and located at 31 Karl-Marx-Allee. Offering some 20,000 sq m of space, the office property was built on the site of the former Berolina Hotel in 1998 and has since been used as a district town hall and administrative building.
Union Investment acquires two Holiday Inn hotels in Poland
Union Investment has secured the future Holiday Inn Gdansk City Centre hotel at an early stage by way of a forward purchase agreement and will also complete the acquisition of the 256-room Holiday Inn Warsaw City Centre on Ulica Twarda at the end of January 2018.
Annual results 2017: Union Investment sets milestones for growth in its real estate business
• Measured growth
• Balance between net inflow and transactions
• Acquisitions and sales totalling EUR 3.8 billion delivered
• Strong expansion of hotel portfolio
• Balance between net inflow and transactions
• Acquisitions and sales totalling EUR 3.8 billion delivered
• Strong expansion of hotel portfolio
Union Investment acquires logistics property in Hanover
Union Investment has acquired a logistics property to the east of Hanover. The property is let on long-term to online retailer Delticom and offers total rental space of 28,400 sq m.
2017
Union Investment posts strong growth in institutional real estate business
Union Investment achieved strong growth in its institutional real estate business in the year now ending. Compared to 2016, institutional investment assets in actively managed funds, Service KVG mandates and pooling vehicles rose by a total of 15 per cent (as at 30 November 2017).
Union Investment agrees extended lease with Amazon
Union Investment has extended the lease with Amazon for the 103,000 sq m Bad Hersfeld logistics facility by ten years, ahead of expiry. The logistics property has been part of the portfolio of institutional open-ended real estate fund UniInstitutional European Real Estate since 2009.
Union Investment sells office block in The Hague
Union Investment has sold the De Haagsche Zwaan office block to Capreon. The property offers some 18,500 sq m of rental space and is located in the Beatrix quarter of The Hague.
Union Investment seeks exposure to Poland’s strong purchasing power
Union Investment has expanded its successful Polish shopping centre portfolio by making its first investment of this kind in Wrocław. The latest addition is Magnolia Park, which comprises some 100,000 sq m of retail space.
Union Investment acquires logistics facility near Duisburg
Union Investment has acquired a newly constructed logistics facility in Kamp-Lintfort near Duisburg. The property was completed in November 2017 and is fully let to Berlin-based e-commerce company Chal-Tec.
Union Investment sells Millennium Tower in Seattle
Union Investment has sold Millennium Tower , a 18,708 sqm office building located in Seattle, Washington to a property fund managed by TH Real Estate. The property was part of Union Investment’s portfolio since 2003.
Union Investment lets refurbished office building in Paris to Iliad
French telecommunications provider Iliad has signed a nine-year lease for the entire 57M office building. The property, which is currently being refurbished, comprises 6,900 sqm of rental space.
Hotel industry: No faith in C locations. hospitalityInside INVESTMENT Barometer
Despite demand pressure on the German hotel market, C locations will not become the new B locations. The current INVESTMENT BAROMETER Autumn 2017 by hospitalityInside.com and Union Investment places clear emphasis on B Locations.
Union Investment and GTEC launch second annual PropTech Innovation Award
Partnership with RICS and MIPIM makes network even more attractive: Successful innovation is underpinned by vibrant, effective networks. The PropTech Innovation Award has created a new international network that allows young tech companies to access the innovation potential of the real estate sector.
Union Investment acquires office building in central London
Union Investment has acquired a nine-storey office building at 160 Aldersgate Street in London. The property offers 19,300 sq m of rental space and is located close to the popular submarket of Farringdon on the north-western side of the City of London.
Union Investment fills 80 per cent of Grand Central Saint-Lazare development in a single deal
Union Investment has agreed a 12-year lease covering 80 per cent of the space at a project currently still under development at Saint-Lazare railway station in Paris.
Union Investment invests in development of Alexa shopping centre in Berlin
New cluster concept creates themed worlds / Classic 1920s design highlighted for 10th anniversary / By autumn 2018, Union Investment will have invested some EUR 16 million in improvements to the shopping centre.
Union Investment/ZBI residential fund continues to grow
Residential real estate fund Unilmmo: Wohnen ZBI, launched jointly by Union Investment and ZBI, has successfully concluded the acquisition of a further 3,053 residential and commercial units, thereby adding properties worth around EUR 200 million to its holdings.
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Union Investment acquires strategic investment in PropTech firm Architrave
Union Investment is the new co-owner of the Berlin-based PropTech firm Architrave. As part of a strategic partnership, Union Asset Management Holding AG, Frankfurt, Germany, has acquired a 13% minority stake in the company. Architrave is the market leader in intelligent real estate data management solutions.
Union Investment sells office portfolio at Brussels Airport
Union Investment has sold an office portfolio comprising five individual properties close to Brussels International Airport, which were held in its open-ended real estate fund Unilmmo: Europa. The five properties are located on Da Vincilaan in the Corporate Village business park and offer total rental space of approximately 64,000 sq m.
Union Investment acquires micro apartment complex in Graz for new special fund Urban Living Nr. 1
Union Investment is entering the growing micro-living segment. The Hamburg-based investment manager has acquired the Milestone Graz micro apartment complex for its new real estate special fund Urban Living Nr. 1. Consisting of 378 residential units, the property is let on a long-term lease to Milestone, one of the most experienced providers of private student accommodation in Austria.
Real estate investors in Europe see no rise in returns before 2019
• Further increase in focus on security in Germany and UK
• High prices for office and retail drive shift to alternative strategies
• Upbeat mood in France after Macron victory
• High prices for office and retail drive shift to alternative strategies
• Upbeat mood in France after Macron victory
New residential fund launched by Union Investment and ZBI gets under way with EUR 620 million
• First batch of acquisitions comprising 410 residential properties worth EUR 245 million transferred to fund
• Over 50 per cent of initial portfolio now in the fund
• Over 50 per cent of initial portfolio now in the fund
Union Investment sells an office property in Budapest to the Erste Real Estate Fund
Union Investment has sold the 18,000 m2 office property Krisztina Palace in Budapest. The property is situated in the Buda district, close to the major underground station Déli Pályaudvar, was acquired in 2008 as a development project and has been part of the portfolio of the open-end real estate fund Unilmmo: Global ever since. The property has been purchased by the Erste Open-Ended Real Estate Investment Fund.
Union Investment registers strong leasing balance in the first half of 2017
In the first half of 2017, Union Investment leased and re-leased a worldwide real estate area of around 264,000 m2. The largest share, at just under 112,000 m2, is in the European target markets outside Germany. On the German market, the Hamburg-based real estate investment management company registered leasing provisions for around 86,000 m2. The overseas market has contributed approximately 66,000 m2. Lease agreements were arranged in a total of 19 different countries.
The institutional hotel market hits the 50 billion mark
10 per cent of the market volume in Germany was traded in 2016: Union Investment and bulwiengesa have calculated the market volume of investable hotels in Germany again. According to their calculations, the market value of investable hotels in Germany increased by 8.3% to EUR 51 billion between 2015 and 2016.
Union Investment sells office building in Luxembourg
Union Investment has sold the Da Vinci office property in Findel Office Park at Luxembourg Airport to the British investor M&G Real Estate. 99% of the building at the address 4 Rue Lou Hemmer with a rental area of around 12,500 m2 is currently rented to nine different companies. As proof of sustainability, the building has BREEAM Very Good certification.
Union Investment and Investa acquire the technology and pharmaceutical hub Campus Konstanz
20 tenants in twelve buildings close to Switzerland: Union Investment and Investa have acquired the technology and pharmaceutical hub Campus Konstanz, which comprises twelve individual buildings. The area is part of the former premises of Altana Pharma AG and its subsidiary Byk Gulden. The acquisition took the form of an off-market transaction.
Union Investment acquires the campus property Loftwerk in Nuremberg
Union Investment has acquired the property Loftwerk in southern Nuremberg. Located at Ulmenstrasse 52 a-i in Nuremberg, this 27,000 sqm campus property is a listed factory building that used to belong to the shoe factory group Vereinigte Fränkische Schuhfabriken. It was built in 1920 and has been renovated and modernised numerous times over the years. The complex consists of four units that are currently fully occupied by 32 different businesses.
Union Investment acquires The Copyright Building in London’s West End
Union Investment has signed a contract to purchase The Copyright Building office complex located at 30 Berners Street in London. The seven-storey property comprises around 10,000 m2 of rental space and is situated in the fast-growing district of Fitzrovia. The office space is let in full for a fixed term of 20 years to Capita Business Services Limited, an IT service provider in the field of process Management.
Union Investment acquires Stockholm Hub office property
Union Investment has acquired the nine-storey Stockholm Hub office building, which offers a total rental area of 5,900 sq m. The fully let property was built in 1967 and fully refurbished in 2016. The acquisition is on behalf of open-ended real estate fund Unilmmo: Global. The vendor is Swedish investment manager Mengus.
Union Investment acquires Midtown21 office building in Seattle
Union Investment has acquired the Class A Midtown21 office building in Seattle. The impressive 21-storey property offers around 35,000 sq m of rental space and was completed in 2016. It is located in the high-growth Denny Triangle between the central business district and the South Lake Union submarket. The office space is let on a long-term lease to the world’s largest internet-based retailer.
Union Investment sells shopping centre in Spain
Union Investment has sold the Area Sur shopping centre in Jerez de la Frontera, which comprises around 47,000 sq m of rental space. The Hamburg-based real estate investment manager acquired the property in 2005 at the development stage and subsequently held it for almost twelve years in the portfolio of open-ended real estate fund UniImmo: Europa. The buyer is a joint venture between AXA IM - Real Assets, acting on behalf of its clients, and Sonae Sierra. The sale price is not disclosed. Cushman & Wakefield advised Union Investment on the Transaction.
Union Investment acquires TM50 commercial property in Nuremberg
Union Investment has acquired the TM50 commercial building in the south-east of Nuremberg for its UII German M special fund. The property offers rental space of around 40,600 sq m and comprises four separate buildings. In addition to 28,000 sq m of office space, there is over 5,000 sq m of retail space and nearly 3,000 sq m of space for storage. Another 4,600 sq m is devoted to other uses, including a day nursery and in-house restaurant.
Green City Solutions is the most innovative proptech startup in the world
Green City Solutions is the most innovative proptech startup in the world. The young company has been selected yesterday at the PropTech Award Ceremony in Berlin. The prize was awarded by Union Investment and the German Tech Entrepreneurship Center (GTEC). Its goal is to support startups that give new impulses to the real estate industry with their innovative ideas.
Union Investment Real Estate is reinforcing its activities in the North American retail markets
Union Investment Real Estate GmbH has reinforced its investment activities in the North American retail markets by hiring retail expert Kseniya Merritt. Ms. Merritt joined Union Investment’s team based in New York City on May 1st. Ms. Merritt will be in charge of expanding Union Investment’s existing retail portfolio in the U.S. as well as investigating market entry opportunities in Canada. In her retail capacity, Ksenyia Merritt reports to Henrike Waldburg, who is heading the company’s retail investment department based in Hamburg/Germany.
Nine international startups are nominated for world’s first PropTech Innovation Award Ceremony
• Union Investment and German Tech Entrepreneurship Center want to find the most innovative startups that have the potential to disrupt the real estate industry
• Over 200 applications from 46 countries
• Live pitches in front of audience and jury on May 17, 2017 in Berlin
• Over 200 applications from 46 countries
• Live pitches in front of audience and jury on May 17, 2017 in Berlin
Union Investment acquires The Triangle Building in Denver, Colorado
Union Investment announced today that it has acquired The Triangle Building in Denver, Colorado, from a controlled affiliate of Starwood Capital Group, a leading global private investment firm, and East West Partners, a Denver-based developer devoted to building, selling, managing and supporting high-quality real estate. The purchase price was approximately $154 million. The property will be added to the portfolio of open-ended retail real estate fund UniImmo: Global.
Union Investment acquires Mercado shopping centre in Nuremberg
Third shopping centre from Melody portfolio also added to holdings of Unilmmo: Europa. Located on Äußere Bayreuther Strasse and comprising 80 stores, Mercado is the leading shopping centre in northern Nuremberg. The property was opened in 2003 and completely refurbished and restructured between 2013 and 2016. Offering 43,500 sq m of rental space, the shopping centre currently attracts some five million customers a year.
Deal of the Decade: Union Investment wins award for Pegasus portfolio
On 26 April 2017, trade journal PropertyEU celebrated the Deal of the Decade Awards at a special gala dinner. Key decision-makers from across the European real estate industry came together at the Palace of Whitehall in central London to look back on the highlights of the period 2006 to 2016. Prizes were awarded in a total of twelve categories.
Union Investment acquires Le Befane shopping centre in Rimini
Property also previously held by CS EUROREAL: With its 129 retail units, Le Befane is the leading shopping centre in the Rimini region on Italy’s Adriatic coast. The property was opened in 2005 and welcomed some 8.6 million customers in 2016. Union Investment has acquired the shopping centre, which comprises approximately 35,500 sq m of retail space, for its open-ended real estate fund Unilmmo: Europa. Le Befane is the third of a total of four properties that make up the Melody sales portfolio, which Union Investment agreed to acquire in December 2016.
Piet Mondrian year: Union Investment supports city dressing project in The Hague
Union Investment acquires Rathaus-Galerie in Leverkusen
The Rathaus-Galerie shopping centre in Leverkusen, which opened in 2010 and offers around 36,300 sq m of retail space, has a new owner. Union Investment has acquired the centre from open-ended real estate fund CS EUROREAL, which is managed by CREDIT SUISSE ASSET MANAGEMENT Immobilien KAG. The transaction also includes an adjacent office and retail property comprising almost 2,200 sq m that is directly linked to Rathaus-Galerie. The nearly fully let properties are part of the Melody portfolio, for which Union Investment signed a purchase agreement in December 2016.
Announcing: the Winner of the “First Store by Alexa” Competition Cologne’s HOLYMESH
Alexa visitors and Facebook fans, along with an expert jury in a final session, evaluated three finalists from the “Best Newcomer” category. The clear winner: An online store with stylish clothing and accessory collections by Germany’s most successful social influencers that wanted to expand its business offline.
Union Investment sells office building in Tokyo
Union Investment has sold the 17,600 sq m Shiomi Koyama office building in eastern metropolitan Tokyo to Shimizu Corporation, a Japanese construction group. Constructed in 1995 and located in the Kōtō district, the building is fully let to financial services provider Daiko Clearing Services, and has been held for close to ten years by open-ended real estate fund Unilmmo: Global. The financial details of the transaction were not disclosed.
Union Investment taps into further destinations in the US hotel market
Union Investment has acquired the Hilton Garden Inn hotel in downtown Seattle, which opened in 2015, for approx. USD 90 million. The property is located at 1821 Boren Avenue and is the company’s first hotel acquisition on the West Coast of the US. The Hamburg-based real estate investment manager has already acquired three first-class hotels in Boston, Chicago and New York City since 2015. Touchstone, a Seattle-based company, developed the hotel, which opened in June 2015.
Union Investment acquires Maraton office building in Poznan from Skanska for EUR 62 million
Union Investment has acquired the Maraton office building, which was completed at the end of 2016, for its open-ended retail real estate fund UniImmo: Deutschland. Skanska Property Poland, an office developer, has thus sold one of the most prestigious office buildings in Poznan, Poland. This is the second sales transaction between Skanska and Union Investment in regional markets in the country following the sale of the Dominikanski office complex in Wroclaw, which is also held in the UniImmo: Deutschland Portfolio.
Union Investment invests in residential real estate specialist ZBI Zentral Boden Immobilien Group
Union Investment and ZBI Zentral Boden Immobilien AG have agreed to enter into a partnership. Union Asset Management Holding AG is acquiring 49.9 per cent of the shares in the newly formed partnership holding company (ZBI Partnerschafts-Holding GmbH), in which the business operations of the ZBI Group will be bundled. The contract was signed on 6 March. Provided the necessary official approvals are obtained, the equity investment is expected to become legally effective in the second quarter of 2017. The parties to the transaction have agreed not to disclose the purchase Price.
Union Investment acquires U7 office building in Stockholm
UniInstitutional European Real Estate re-enters Swedish market: Union Investment has acquired the Uarda 7 (U7) office building in the north of Stockholm, which offers approximately 17,400 sq m of space and is located in the fast-growing office submarket of Arenastaden. The vendor of the property is Swedish developer Fabege. The purchase price was approximately EUR 121 Million.
Union Investment Real Estate: Restructuring of investment activities under CIO Martin Brühl
• Philip La Pierre takes over investment management for Americas and Asia-Pacific
• Martin Schellein appointed head of investment for Europe
• Martin Schellein appointed head of investment for Europe
Union Investment reports successful letting performance for 2016
Union Investment posted strong letting figures in 2016, with a total of approximately 663,000 sq m of space being let or relet. This letting performance ensured that overall occupancy across all real estate funds, based on income, remained at an impressive 96.2 per cent.
immofonds 1 buys into retail park in Austria
Union Investment has acquired both of the two new build units at Hatric retail park in Hartberg, Styria, north-east of Graz, for its open-ended real estate fund immofonds 1, which is targeted at private investors in Austria. The property offers rental space of around 16,000 sq m as well as 590 parking spaces.
Union Investment hotels in Chicago and New York recognised with ALIS Awards
Two hotel properties in the US belonging to real estate funds managed by Union Investment have both picked up prizes. The coveted ALIS Awards were conferred on Tuesday at the Americas Lodging Investment Summit (ALIS) in Los Angeles, going to the Courtyard by Marriott World Trade Center in New York in the category "Development of the Year 2016" and to LondonHouse Chicago in the category "Single Asset Transaction of the Year 2016."
Union Investment acquires Grand Central Saint-Lazare project in Paris developed by The Carlyle Group
On 24 January, Union Investment acquired the speculative Grand Central development project at Saint-Lazare railway station in the centre of Paris. The innovative project comprises a new business centre on Rue de Londres and Rue d’Amsterdam with rental space of around 23,600 sq m. The target for practical completion is mid-2019.
European real estate investors prepare for extended market cycle
• Growing acceptance of lower real estate returns
• Investor sentiment down sharply in UK
• Renewed confidence in French real estate market
• Investor sentiment down sharply in UK
• Renewed confidence in French real estate market
Union Investment and Hilton agree on contract renewal and major renovation in Munich
Union Investment, owners of Hilton Munich City, today announced plans for the refurbishment of the hotel. The announcement follows news that Hilton has made a long-term commitment to the location of its flagship Munich City Hotel.
Union Investment accelerates global real estate investment
• US markets account for around 35 per cent of acquisition volume in 2016
• Hotels and shopping centres contribute to strong growth outside Europe
• Fund assets rise to EUR 32 billion
• Hotels and shopping centres contribute to strong growth outside Europe
• Fund assets rise to EUR 32 billion
Union Investment acquires office block in Düsseldorf
Union Investment has acquired the Global Gate III office building in Düsseldorf. Built in 2005, the property is located at Grafenberger Allee 297 in the east of the city. The fully let building offers 11,100 sq m of office space across ten floors and has an underground car park with 143 spaces. It will be added to the portfolio of open-ended real estate fund immofonds 1, which is targeted at private investors in Austria.
Union Investment acquires StadtCenter Düren shopping centre comprising 17,800 sq m of rental space
54 retail units in city centre location / 4.8 million visitors a year: Union Investment has acquired the StadtCenter Düren shopping centre, which is home to 54 retailers and food outlets across some 17,800 sq m of rental space. The two-storey centre enjoys an inner-city location and also includes a parking deck with 311 spaces.
2016
Union Investment expands presence in US hotel market
Union Investment continues to invest actively in the US. Following its first hotel acquisitions in Boston and Chicago, the Hamburg-based real estate investment manager has now entered the New York City hotel market. In a deal worth in excess of 200 million USD, Union Investment has secured the Courtyard by Marriott World Trade Center for its open-ended real estate fund Unilmmo: Global.
Union Investment sells Menara AIA Cap Square office building in Kuala Lumpur
Union Investment has sold the 41-storey Menara AIA Cap Square office building in Jalan Munshi Abdullah, Kuala Lumpur, which has a net lettable area of 601,796 sq ft and 474 car parking spaces. The new owner is Kumpulan Wang Persaraan (Diperbadankan) (KWAP), the second largest Malaysian pension fund. JLL advised Union Investment on the Transaction.
Union Investment’s institutional real estate business continues to grow
Union Investment’s institutional real estate business continued to make good progress in 2016. Overall, institutional assets under management grew by EUR 670 million in the course of the year. With investment assets of EUR 7.9 billion in total as at 30 November 2016, Union Investment confirmed its leading position as a provider of open-ended real estate funds for institutional investors.
Union Investment acquires new Morphosys AG headquarters building in Planegg near Munich
First acquisition for new special fund UII German M: Union Investment has purchased a 14,000 sq m office building at Semmelweisstraße 7 in Planegg, near Munich. Completed in 2014, the property is fully let to Morphosys AG, having recently become the biotech company’s new headquarters. Planegg is one of Germany’s top biotechnology locations. The vendor of the building is LIP Ludger Inholte Projektentwicklungs GmbH.
Jörn Stobbe to join Management Board of Union Investment Real Estate GmbH as COO
As of 1 February 2017, Jörn Stobbe will join the Management Board of Union Investment Real Estate GmbH and take on the role of Chief Operating Officer. A trained lawyer and qualified real estate professional, the 50-year-old has many years’ experience in the property industry, including as partner at Clifford Chance.
Hotel industry: Willingness to take risk and caution are balanced
Opportunities and risks are spread broadly in the hotel industry. Whilst the digitalisation megatrend is clearly viewed as an opportunity, on the investment side, the sector currently shows itself to be quite ambivalent. The overall mood in the sector is meanwhile stuck around cautious optimism. These were the findings of the hotel trade magazine HospitalityInside and Union Investment in their current Hotel INVESTMENT BAROMETER Autumn 2016
Office project QBC 3 sold for around EUR 30 mn to Union Investment in a forward deal
UBM Development AG and S IMMO AG have closed a forward deal already in the development phase for the third lot of Quartier Belvedere Central – QBC 3 – with Union Investment. Completion and handover is planned for autumn 2017.
UBM sells Vienna standing asset Doppio Offices for approximately EUR 20 mn to Union Investment
The sale of the office property Doppio Offices in Vienna, which was developed by UBM, is now finalised. The standing asset has been acquired by the property investment manager Union Investment for its in Austria distributed open real estate fund immofonds 1. Doppio Offices has an ideal location close to Vienna’s city centre in the third district, in the urban development area “Neu Marx”.
Union Investment acquires two more office properties in the Überseestadt district of Bremen
Union Investment is expanding its portfolio in the Überseestadt district of Bremen. The Hamburg-based real estate investment manager has acquired two adjacent properties, WQ 1 and Haus am Fluss, in Bremen's most attractive office sub-market. Together the properties offer approximately 11,500 sq m of rental space, and are both fully let.
Union Investment successfully completes repositioning of STEP 6 in Stuttgart
23,000 sq m of office space quickly re-let / Switch to multi-tenant property: Union Investment has exploited strong demand in the Stuttgart office market to reposition STEP 6 as a multi-tenant property. The building offers 32,700 sq m of rental space and 907 parking spaces.
Innovation in the real estate industry: international PropTech Innovation Award launched
Union Investment and GTEC to recognise the best startup ideas for the real estate world of tomorrow: Digital technologies are set to boost innovation in the real estate industry, from enabling customer-oriented solutions to new products and more efficient processes. The PropTech Innovation Award, initiated by Union Investment and the Berlin-based German Tech Entrepreneurship Center (GTEC), is aimed at supporting these exciting developments.
Union Investment records strong lettings quarter with emphasis on Germany
Union Investment continued to see strong letting performance in the third quarter of 2016, with worldwide lettings and relettings totalling approximately 161,000 sq m. The German market features most prominently in the results, accounting for around 97,000 sq m or some 60 per Cent.
Union Investment achieves three letting successes in the Düsseldorf area
Union Investment has signed three leases covering 4,700 sq m of office space in the Düsseldorf area. These include two new lettings and the extension of a current lease by ten years.
Union Investment sells Santa Fe III office property in Mexico City
Union Investment has sold the Santa Fe III office building in Mexico City to Grupo Metta, one of the largest property developers in Mexico. Located in the western submarket of the Mexican capital, the complex offers around 19,200 sq m of rental space. The property was built in 1995 and includes 680 parking spaces. Since its acquisition by Union Investment in 2006, it has been held in the open-ended retail real estate fund UniImmo: Europa.
Union Investment acquires Super 8 hotel in Munich
Ninth property for institutional fund UII Hotel Nr. 1: Union Investment has further expanded its hotel portfolio in Munich by acquiring a Super 8 hotel immediately after completion. The property offers 197 rooms, 68 parking spaces, a total area of around 6,000 sq m and is located on Frankfurter Ring in the Schwabing-Freimann district of the City.
Union Investment purchases 49% stake in four U.S. retail properties, forming a joint venture with TH Real Estate
Properties located in prime urban shopping locations in New York, San Francisco and Philadelphia: Union Investment is further diversifying its international real estate portfolio by making its first investments in U.S. urban retail via a joint venture with TH Real Estate (a division of TIAA Global Asset Management). Union Investment is acquiring a 49 per cent stake in four high street properties with a total area of 113,500 sq ft for its open-ended real estate fund Unimmo: Global.
Union Investment infrastructure fund reaches target size of EUR 320 million
New acquisition in Ireland increases portfolio to nine wind farms and solar parks with total output of approximately 150 MW: Union Investment has now fully reached the investment target for its infrastructure fund UniInstitutional Infrastruktur SICAV-SIF, launched in 2012. Carrowleagh Wind Farm on Ireland’s Atlantic coast is the final major investment for the Union Investment fund, which is invested exclusively in plants for generating renewable energy.
Union Investment fully lets Westpol office property in Frankfurt to three tenants
Around 2,700 sq m of office space relet almost immediately: Union Investment has achieved its second major letting success within a matter of weeks in the Frankfurt office market. The Westpol building at Niedenau 61-63 in the prestigious office sub-market of Frankfurt-Westend has attracted three new tenants for the approximately 2,700 sq m of space in the property, less than a month after a firm of tax advisors and lawyers moved out.
Union Investment plants another marker in the Sunbelt
Office property in Atlanta attracts technology and finance companies: Union Investment continues to add to its US holdings by acquiring the approximately 420,000 sq ft office property Ten 10th Street in Atlanta. This purchase boosts the US share of the company’s open-ended real estate fund Unilmmo: Global, which now stands at approximately 30 percent and is set to increase further. The property is located in the dynamic Midtown submarket of Atlanta.
Union Investment and UBS agree first green lease in Luxembourg
Union Investment and its tenant UBS (Luxembourg) S.A. have signed a green lease for 2,280 sq m of office space in the K2 Dolce property at Kirchberg in Luxembourg. The contract largely follows the recommended clauses and actions for sustainable building use developed by Union Investment and five other real estate companies and published in 2015 under the title “Green Lease Agreements”.
Walking the tightrope
Union Investment acquires 2000 McKinney Avenue in the Uptown district of Dallas, Texas
Acquisitions in the US year to date reach almost USD 1 billion Union Investment has purchased 2000 McKinney Avenue, a 20-storey office property offering around 448.000 square feet of space, located in the dynamic Uptown district of Dallas for its open-ended real estate fund Unilmmo: Global. Constructed in 2008, the 2000 McKinney building fronts Klyde Warren Park and is 98 percent let. The largest tenants include Texas Capital Bank, which occupies 31.5 percent of the space, and the global law firm Dentons. Overall the property is let to a broad mix of financial and legal tenants and other service providers.
Union Investment acquires 54,000 sq m campus property in Fürth, Bavaria for newly established special fund
38 tenants in seven buildings / First transaction for Urban Campus Nr. 1 fund: Union Investment has acquired Uferstadt Fürth, a 54,000 sq m campus property comprising seven different buildings that occupy part of the former headquarters site of Grundig. Located on the banks of the river Pegnitz, the buildings mainly consist of office space and are well served by local amenities and a wide range of restaurants and cafés.The vendor of Uferstadt Fürth is Pegnitz Park Holding GmbH, a subsidiary of Investa Holding GmbH. The property has been successfully updated in recent years by Investa Asset Management (IAM) and is fully let.The property will continue to be managed by Investa Asset Management (IAM) via a local presence.
Union Investment achieves full occupancy for 59,000 sq m Emporio office building in Hamburg
E-commerce developer takes 3,200 sq m of space over two floors With a height of around 100 metres, Emporio is a prestigious 1960s office building that has been updated multiple times and is one of Hamburg's most prominent landmarks, dominating the cityscape around Dammtorwall. Owner Union Investment has recently achieved full occupancy for the 59,000 sq m, 23-storey property, which belongs to the portfolio of open-ended real estate fund Unilmmo: Deutschland. Young technology and software company eSailors IT solutions GmbH of Hamburg is scheduled to move into the 15th and 20th storeys in April 2017.
Union Investment fully lets Theo 106 office property in Frankfurt to financial institution
Around 10,600 sq m of office space over seven storeys let on long-term lease: Since its completion in 2002, Theo 106, named after its location on Theodor-Heuss-Allee in Frankfurt, has been among the most elegant office buildings in the City West district. After ING Diba vacated the building in 2013, owner Union Investment has succeeded in fully letting the property on a long-term basis to a well-known financial institution. The lease commences on 1 August 2016 and will run for an initial period of ten years. BNP Paribas Real Estate brokered the agreement between the two parties.
Union Investment scores letting successes in Europe and America
New lettings and relettings in second quarter of 2016 total 135,500 sq m of space: In the second quarter of 2016, Union Investment’s letting activity was dominated by international lease signings. Around 84 per cent of the 135,500 sq m of new lettings and relettings were located outside Germany. Twelve European countries accounted for 88,700 sq m, while five non-European markets contributed approximately 25,100 sq m. In Germany, Union Investment let or relet some 21,600 sq m of space during the period from March to June.
Union Investment acquires Holiday Inn Hotel City Nord in Hamburg
Second forward purchase of a Holiday Inn hotel in Hamburg within a month: investment in the tallest building in City Nord district: Union Investment has secured the new Holiday Inn Hotel City Nord, which is currently still in the development phase, for its institutional real estate fund UII Hotel Nr. 1. The 4-star hotel will have around 300 rooms across 18 floors. The purchase price was not disclosed. The vendor and developer of the property is the Hamburg-based TAS Group. The transfer of ownership is expected to take place in the second quarter of 2017. Engel & Völkers Commercial Hamburg advised on the transaction.
Union Investment and Investa Immobiliengruppe set up German special fund to focus on pioneering campus properties
Fund concept picks up on changing trend in work and office environments Union Investment and Investa Capital Management (ICM) have agreed to work closely together on designing and launching innovative real estate solutions for institutional investors. The first fund concept to be developed underlines the joint commitment of the two property specialists. Urban Campus Nr. 1 is the first special AIF in Germany that gives professional investors the opportunity to invest in pioneering working and office structures. The investment focus of the thematic fund is on campus properties, i.e. office buildings that feature flexible space concepts and address sharing and co-working trends, as well as providing a high quality urban environment.
Union Investment acquires Hamburg office/commercial building Herrengraben 30/31
Union Investment has acquired the Herrengraben 30/31 office and commercial building located between downtown Hamburg and HafenCity for its institutional real estate fund UniInstitutional German Real Estate. The vendor is Cogiton Projekt Neustadt GmbH, an owner-managed property development and investor company based in Hamburg. The purchase price was not disclosed. Built in 1993, the property offers 6,520 sq m of rental space and was completely refurbished by Cogiton, with the work being completed in mid-2016.
Union Investment acquires Holiday Inn hotel development in Hamburg’s HafenCity from ECE Projektmanagement
Union Investment has secured the Holiday Inn hotel development in Hamburg’s HafenCity, directly opposite the university, for its UniInstitutional German Real Estate fund. The vendor and developer of the hotel is ECE Projektmanagement G.m.b.H. & Co. KG. The turnkey purchase is subject to the standard closing conditions for this type of real estate transaction and will take effect on completion of the hotel in 2018.
How big is the institutional hotel market?
Union Investment acquires new office building First Rotterdam for institutional fund
Union Investment has reinvested some of the proceeds from the Aqua portfolio sale in Rotterdam on behalf of its institutional real estate fund UniInstitutional Real Estate. After selling the Las Palmas office building, its only property in Rotterdam, in January 2016 as part of the Aqua portfolio, Union Investment has now re-entered the Dutch core market by acquiring the First Rotterdam development project for the fund. Union Investment secured the First Rotterdam office tower at an early stage by way of forward funding
Union Investment focuses international investment on Mexico City
Fully let office building in sought-after sub-market Polanco acquired for Unilmmo: Global - Union Investment continues to expand its international real estate fund portfolio in the Americas. The company has acquired the Corporativo Dos Patios office building in Mexico City for its open ended real estate fund Unilmmo: Global. The building was completed in 2012 and is fully let. This investment marks Union Investment’s first acquisition in Latin America since 2008.
Investment Barometer: Sentiment on hotel markets dampens
hospitalityInside INVESTMENT BAROMETER spring 2016:
• Return expectation mixed
• London and Munich are the outperformers - Sentiment on the hotel investment market has dampened in spring 2016 - nevertheless, the market assessment remains positive overall and at a high level. Those surveyed painted a mixed picture when asked about returns and locations. These were the findings from the hospitalityInside INVESTMENT BAROMETER spring 2016.
• Return expectation mixed
• London and Munich are the outperformers - Sentiment on the hotel investment market has dampened in spring 2016 - nevertheless, the market assessment remains positive overall and at a high level. Those surveyed painted a mixed picture when asked about returns and locations. These were the findings from the hospitalityInside INVESTMENT BAROMETER spring 2016.
Union Investment acquires four-star hotel by Spanish brand Meliá in Aachen
Following the acquisition of the Meliá Berlin, Union Investment has secured another high-yield hotel property by Spanish hotel brand Meliá for one of its institutional real estate funds. The developer and seller of the Innside by Meliá Aachen is HPG Hotel Aachen GmbH & Co. KG, a limited partnership, one half of which is owned by HPG Property Group and the other half by Cebus GmbH & Co. KG. The purchase price was not disclosed. The new-build hotel, which is scheduled for completion in mid-2016, is fully let on a 20-year lease to Sol Meliá Deutschland GmbH, a wholly-owned subsidiary of the Meliá Hotels International group.
Union Investment retail property fund acquires shopping centre in Poland
UII Shopping Nr. 1 now fully invested with eight properties worth around EUR 526 million: Union Investment has acquired Ferio Konin, the market-leading shopping centre in the central Polish city of Konin, which has a catchment area of around 360,000 people. This is the eighth property acquisition for the institutional thematic fund UII Shopping Nr. 1 since it was launched in 2011. The open-ended special real estate fund is now fully invested, with total assets worth around EUR 526 Million.
Union Investment expands property portfolio in Boston
Office newly built in booming Seaport district acquired from Skanska for USD 452 million Since its acquisition of The Godfrey Hotel in Boston, the company’s first ever hotel purchase in the States, Union Investment has felt particularly at home in New England. The Hamburg-based real estate investment manager has now acquired its second office property in Boston for approximately USD 452 million. Developed by Skanska and only completed at the end of last year, the office newly built at 101 Seaport Boulevard will join the portfolio of open-ended real estate fund Unilmmo: Europa.
Union Investment acquires development of the “XYZ Building” in Manchester
Grade A office building is 95 % pre-let / Second investment for Union Investment in Manchester / Going for growth: Union Investment has purchased the development of the “XYZ Building” in Manchester which is due to complete in August 2016 for its open-ended real estate fund UniInstitutional European Real Estate. Union Investment is acquiring the property in a forward funding and off-market transaction from the renowned developer Allied London Properties Ltd. The purchase price is not disclosed.
Union Investment Real Estate notches up new success in Berlin hotel market
Four-star superior hotel on Friedrichstrasse operated by Spanish brand Meliá acquired for special fund Union Investment has secured another high-yield hotel property in Berlin. This is the third purchase of an established branded hotel in the German capital within six months, following the acquisition of andel’s conference hotel and the Hampton by Hilton planned for a site close to Alexanderplatz. As part of an off-market transaction, Union Investment has acquired the Meliá Berlin from Grundstücksverwaltungsgesellschaft Am Weidendamm Berlin-Mitte mbH.
Union Investment fund acquires Vattenfall headquarters in Stockholm
Largest Scandinavian transaction to date for Union Investment: Union Investment is returning to the Swedish office real estate market with a top investment. The Hamburg-based investment manager has purchased a fully let office property in the Stockholm office submarket of Arenastaden for its open-ended real estate fund Unilmmo: Deutschland. The office space comprises 97 per cent of the total rental area of 44,000 sq m and is fully let on a long-term basis to state-owned energy provider Vattenfall, which has its global corporate headquarters in the building. Union Investment is acquiring the property from Swedish developer Fabege AB for approximately EUR 244 Million.
No turning point in sight yet: European real estate investors remain bullish
• More higher-risk portfolios coming onto the market
• Only Germany experiencing further improvement in investment climate Investors are facing an ever growing number of unknowns in the real estate market. Yet even in this advanced stage of the property market cycle, European property professionals are not exercising greater restraint. On the contrary, compared with the prior year even more investors are primarily motivated by returns. The increased appetite for risk is being driven by the continuing search for returns and a market environment that shows only very muted signs of a change ahead. Those are the findings of the latest property investment climate study carried out by Union Investment twice a year, which this time involved a representative survey of 171 professional property investors in Germany, France and the UK.
• Only Germany experiencing further improvement in investment climate Investors are facing an ever growing number of unknowns in the real estate market. Yet even in this advanced stage of the property market cycle, European property professionals are not exercising greater restraint. On the contrary, compared with the prior year even more investors are primarily motivated by returns. The increased appetite for risk is being driven by the continuing search for returns and a market environment that shows only very muted signs of a change ahead. Those are the findings of the latest property investment climate study carried out by Union Investment twice a year, which this time involved a representative survey of 171 professional property investors in Germany, France and the UK.
Union Investment lifts worldwide letting performance by more than 40 per cent
Total of 834,220 sq m of rental space let in 2015 – Strong performance in fourth quarter: Union Investment can look back on a very successful 2015 in terms of global lettings. A buoyant fourth quarter with take-up of approximately 284,000 sq m of space made a particularly strong contribution to the above-average result. New lettings, renewals and relettings across all countries and use types totalled 834,220 sq m in 2015.
Union Investment hires Matthew Scholl to develop real estate investment business in America
Medium-term target allocation of approximately USD 2 billion / Investment to be focused on US markets and Mexico City Union Investment Real Estate GmbH is strengthening its market presence in America. The Hamburg-based property investment manager has hired Matthew Scholl (37), a recognised transaction expert with many years of US property market experience. A native of Atlanta, Georgia, as head of Investment Management Americas Scholl will be responsible for strategic development of the real estate portfolio in the American markets from 1 February 2016, working out of the New York Office.
Union Investment sells Äppelallee-Center in Wiesbaden to Pradera fund
After a five-year holding period, Union Investment has sold the Äppelallee-Center retail property owned by its open-ended real estate fund UniImmo: Deutschland. The property was acquired for the Pradera Open-Ended Retail Fund, an open-ended special AIF which is administered by IntReal as a real estate Service KVG. The sale price is approximately EUR 82 Million.
EUR 1 billion Aqua portfolio deal successfully completed by Union Investment and Amundi
Final tranche comprising five properties in Austria and Finland transferred to Amundi: The Aqua real estate deal was successfully completed at the beginning of this year. In the last of a total of three tranches, the rights and obligations relating to the floridotower and Solaris office properties in Vienna and to three office properties in Helsinki – Alberga A, Alberga C and Duetto – were transferred to the buyer, Amundi Real Estate. The Westferry Circus office property in London was transferred in December and formed the second Tranche.
Union Investment enjoys record year for hotel investments
Seven hotel transactions completed worth EUR 500 million: Union Investment Real Estate GmbH can look back on a record year for hotel investments. The Hamburg-based property investment manager was one of Europe’s top purchasers in the hotel asset class in 2015, with six acquisitions and one sale representing a total transaction value of EUR 500 million. The new acquisitions for the company's retail and special funds range from the Holiday Inn in Warsaw and andel’s conference hotel in Berlin to the Godfrey Hotel in Boston, Union Investment’s first ever hotel acquisition in the US.
Union Investment adds to shopping centre fund in the Netherlands
Union Investment sees strong growth of international real estate business
- Acquisitions outside Europe total EUR 1.1 billion - Total transaction volume reaches record high of EUR 5 billion - Assets under management in the real estate segment rise by almost 10 per cent to EUR 28.5 billion In 2015, Union Investment Real Estate GmbH invested a record amount outside Europe. Six property purchases in Australia and the US with a total value of around EUR 1.1 billion highlight Union Investment's pursuit of dynamic growth and international expansion in what remains a highly competitive environment. With total acquisitions amounting to EUR 3.5 billion (2014: EUR 2.5 billion), for the first time over 30 per cent of new purchases were in overseas markets. The investments were focused on the US and Australia, in markets such as Houston, Boston, San Francisco and Sydney, and were made possible by continued strong cash inflows into the funds.
Union Investment veUnion Investment sells Madrid office building to AEW Europe rkauft Bürogebäude in Madrid
Sales profit to be reinvested in Spain: After a holding period of twelve years Union Investment Real Estate GmbH, Hamburg, has sold Edificio Amura, an 18,178 sqm office building on the outskirts of Madrid, for approximately €37 million. The asset has been acquired by AEW Europe on behalf of the Europe Value Investors fund (EVI). The asset is located 13 km north of Madrid’s CBD in Alcobendas. The building is currently 67 % let to seven tenants
2015
Union Investment sells Tamayo 100 office building in Monterrey, Mexico
New investment to be focused on Mexico City as principal market: Union Investment Real Estate GmbH has sold the Tamayo 100 office building in the northern Mexican city of Monterrey to local investor Fibra Monterrey for around USD 26.7 million. The building offers total rental space of 8,135 sq m and was acquired by Union Investment in 2005 shortly after completion for its open-ended real estate fund Unilmmo: Global.
Union Investment extends US exposure with acquisition of Amazon Phase VI building in Seattle
Union Investment is adding to its real estate portfolio in Seattle. The Hamburg-based real estate investment manager has acquired the Amazon Phase VI building for around USD 299 million. The property is almost fully let on a 15-year lease. Only completed in 2014, the building comprises some 395,000 sq feet of rental space and was purchased for open-ended real estate fund Unilmmo: Europa.
Union Investment acquires first hotel in USA, The Godfrey Hotel Boston
A joint venture of Oxford Capital Group, LLC and an affiliate of Walton Street Capital, L.L.C (”Walton Street”) today announces the sale lease/management back to Germany’s Union Investment Real Estate of The Godfrey Hotel Boston. The Godfrey Hotel Boston is a 242-room high design, lifestyle hotel strategically located in the city’s rapidly growing Downtown Crossing neighborhood scheduled to open in January 2016.
Board restructuring at Union Investment Real Estate GmbH strengthens management of international business
Martin Brühl promoted to board of Hamburg-based real estate investment manager: Due to the departure of Dr. Heiko Beck from the Union Investment Real Estate GmbH management team, the Hamburg-based real estate investment manager is restructuring its senior leadership with effect from 1 January 2016. The new set-up is designed to create a clearer distinction between management oversight and operational market areas, as well as further deepening the strategic focus on the company’s growing international Business.
Hotel sentiment at all-time high
- hospitalityInside INVESTMENT BAROMETER for the first time above 4,000 mark - Willingness of hotel investors to take risk increases The hotel real estate sector has never been as euphoric as this autumn. Since the introduction of the "hospitalityInside INVESTENT BAROMETER" in autumn 2013, the Business, Development, Expectation and Operation index has known just one trend: upwards. Each attack of pessimism has been overcome. The strongest driver is hotel development.
Union Investment acquires Holiday Inn Warsaw – City Centre from UBM
Union Investment has secured the Holiday Inn Warsaw – City Centre development project for its open-ended real estate fund Unilmmo: Deutschland. A corresponding forward purchase agreement was signed yesterday in Warsaw. The turnkey purchase is subject to the standard closing conditions for this type of real estate transaction and will take effect on completion of the hotel in 2018.
Union Investment successfully completes sale of main tranche of Aqua portfolio
Transfer of the largest of three tranches with 11 properties / Completion of overall transaction scheduled for January 2016: Union Investment and Amundi Real Estate have taken an important step towards completing the approximately EUR 1 billion Aqua portfolio deal. The first tranche of buildings, comprising 11 office properties with total rental space of 190,000 sq m, was transferred to Amundi. The properties are located in Germany, France, the UK and the Netherlands.
Strong sustainability performance by Union Investment’s open-ended real estate funds
GRESB ranks all funds as Green Stars: Union Investment's open-ended real estate funds demonstrate a consistently high level of sustainability. In the latest GRESB assessment, all six of the participating real estate funds for private and institutional investors were classified as Green Stars.
Berlin property added to Union Investment’s institutional hotel fund
Hampton by Hilton Alexanderplatz project secured for UII Hotel Nr. 1: Union Investment has secured the planned three-star superior Hampton by Hilton hotel in Berlin-Mitte for its institutional hotel fund UII Hotel Nr. 1. A long-term lease with Primestar is in place for the 344-room hotel. The acquisition of this new build means that two years after launch the UII Hotel Nr. 1 fund portfolio has now grown to seven properties in Germany and Austria.
Union Investment makes successful acquisitions and disposals for institutional real estate funds
Transactions worth around EUR 1.1 billion in year to date: Union Investment's institutional real estate funds are making good progress on the acquisitions front. Ten properties have been added to the portfolios of the company’s real estate funds for institutional investors since the start of the year, representing an investment volume of around EUR 807 Million.
Union Investment increases real estate exposure in Australia
Following on from Brisbane, 155 Clarence Street marks the company's first office investment in Sydney Union Investment Real Estate GmbH is expanding its international investment activity in the Asia-Pacific region. With its second property acquisition down under in 16 months, the company is tapping into one of the most attractive property markets in the region. The Hamburg-based real estate investment manager has acquired 155 Clarence Street in Sydney for a purchase price of around AUD 120 million.
Investor survey: Searching for returns: real estate investors take profits
- International pressure to invest opens up selling opportunities
- Trend towards higher risk and cross-border investments
- Investment Climate Index climbs in Germany, France and the UK
- Trend towards higher risk and cross-border investments
- Investment Climate Index climbs in Germany, France and the UK
Union Investment focuses on dominant shopping centres in mid-sized Polish towns
Riviera in Gdynia acquired for institutional real estate fund Union Investment has acquired another regionally dominant shopping centre in Poland by purchasing the Riviera centre. Comprising some 230 stores across 70,540 sq m of rental space, the shopping centre was completed in 2011 and expanded and reopened in 2014. It is the largest shopping destination in the so-called “tri-city” of Gdańsk, Gdynia and Sopot. Union Investment is acquiring the almost fully let shopping centre in Gdynia from a subsidiary of French company Foncière Euris.
Union Investment sells Marriott Hotel Hamburg to UK & European for EUR 65 million
Growing demand for hotel investments used to reduce age of portfolio More than ten years after it was acquired by Union Investment, the Marriott Hotel, located close to Hamburg's prestigious Jungfernstieg boulevard, has changed owners. Union Investment has sold the luxury hotel for approximately EUR 65 million to international investment and property development company UK & European Investments Limited. The complex comprises a 270-room and 8-suite hotel; four retail units and a 128-space public parking garage and was purchased by Union Investment in 2004 for its open-ended real estate fund Unilmmo: Deutschland.
Union Investment leases Pullman Berlin Schweizerhof to ValueState Hotels for 20 years
French operator entering German hotel market for first time / Hotel retains the AccorHotels Pullman brand On paper, it’s a sandwich structure; in practice, it's an innovative three-party business relationship that delivers stable long-term rental income for open-ended real estate fund Unilmmo: Europa. Owner Union Investment Real Estate GmbH has signed a new 20-year lease with an option to extend for its five-star Pullman Berlin Schweizerhof hotel on Budapester Straße, which has been part of the EUR 10 billion Europa fund since 1999. The new tenant is French operating company ValueState Hotels, which currently manages a portfolio of some 1,500 hotel rooms in Europe.
Union Investment enters Silicon Valley
Fully let office complex in Menlo Park acquired for USD 62 million: Union Investment Real Estate GmbH is continuing to increase the international exposure of its openended real estate funds. The Hamburg-based property investment manager has acquired the fully let office property at 4085 Campbell Avenue, Menlo Park in Silicon Valley, California. The property will be added to the portfolio of Unilmmo: Global.
Union Investment sells pan-European real estate portfolio to Amundi Immobilier
Package comprising 17 properties in 6 countries: One of the largest portfolio transactions of the year is nearing completion with the signing of the purchase agreement for the Aqua property package. French company Amundi Immobilier is acquiring the EUR 1 billion Aqua portfolio from Union Investment Real Estate GmbH.
Union Investment acquires Radisson Blu hotel in Wroclaw from UBM
The Radisson Blu hotel in Wroclaw, developed by UBM Development AG and completed in 2002, has a new owner. Union Investment has secured the established five-star hotel in the centre of Wroclaw for its UniInstitutional European Real Estate fund. The purchase price was not disclosed. This is Union Investment’s second property purchase in Wroclaw within the past eight months.
Union Investment acquires conference hotel andel's Berlin from UBM and Warimpex
Union Investment Real Estate GmbH has acquired the four-star andel's Berlin, thereby adding to its hotel portfolio in the German capital. The vendor is a property company belonging to Warimpex Finanz- und Beteiligungs AG and UBM Development AG. Completion is scheduled for the third quarter of 2015. The agreed purchase price is approximately EUR 105 million.Completed in 2009, the 557-room conference hotel is located in the Prenzlauer Berg district of Berlin directly opposite the Velodrom sports arena, and will join the portfolio of open-ended real estate fund Unilmmo: Deutschland.
Union Investment commits to fund the development of prime office building, Burlington House, in Dublin
Union Investment announces that it has committed to forward fund the development of Burlington House, the largest new speculative prime office building in Dublin city centre. Burlington House will deliver 15,992 sq m (172,000 sq. ft.) of net office space.
Fund property granted World Heritage status: Hamburg's Chilehaus building recognised by UNESCO
It has been on Germany's Tentative List for UNESCO World Heritage Site status for many years. Since Sunday, the Chilehaus building in Hamburg has now been officially recognised. Together with the Kontorhaus district and Speicherstadt warehouse district, the iconic office building was designated a UNESCO World Heritage Site – the first of its kind in Hamburg.
Union Investment lets approx. 6,500 sq m in Corporate Village office ensemble in Brussels
Union Investment has agreed three leases covering some 6,500 sq m in the Corporate Village office ensemble at Brussels Zaventem airport. Sony, the long-standing anchor tenant in the Davos building, which comprises approximately 12,667 sq m of office space, extended the existing lease on its 4,050 sq m for three years.
Union Investment sells business park portfolio to Aurelis
First portfolio purchase by Aurelis comprising a total of around 104,000 sq m of rental space – Union Investment leverages continued strong demand to reduce the average age of its portfolio Aurelis Real Estate GmbH & Co. KG has acquired four business parks from Union Investment in Düsseldorf, Cologne, Liederbach (Frankfurt/Main) and Wiesbaden with total rental space of around 104,000 sq m. Details of the purchase price were not disclosed. The buildings at the four locations were constructed between 1988 and 2001 and had belonged to the portfolios of open-ended real estate funds Unilmmo: Deutschland and UniImmo: Europa for over 20 years in part.
Entering the Irish market: Union Investment acquires office complex in Dublin
Union Investment Real Estate GmbH has acquired the 4 + 5 Grand Canal Square office complex in Dublin for around EUR 230 million. Comprising two buildings with a total area of some 23,300 sq m, the property is fully let with an average remaining term of more than ten years. Designed by architect Daniel Libeskind and completed in 2009, the office complex has a BREEAM sustainability rating of “Excellent”.
Oxford Properties and Union Investment create 50:50 joint venture in London’s Watermark Place
Oxford Properties Group (‘Oxford’) and Hamburg-based Union Investment Real Estate GmbH (‘Union Investment’) have created a 50:50 joint-venture (the “JV”) regarding Watermark Place in London, with Oxford acting as asset manager to the JV. In parallel, the JV has refinanced the asset, raising a new 10-year £270 million debt facility from Pricoa Mortgage Capital. Union Investment will hold its 50 % interest for its open-ended real estate fund UniImmo: Europa.
4th hospitalityInside INVESTMENT BAROMETER Spring survey available
The continuing pressure on demand in the hotel market most likely motivates hoteliers and hotel property experts to diversify regionally in secondary and tertiary markets. New leaseholders and brands are less in demand, and a higher commitment in country markets with higher risks is definitely last on the list.
Union Investment acquires new Green Worx office building in Vienna from S+B Group and Raiffeisen Holding
Union Investment is seeking to benefit from the stability of the Viennese office market. The company recently agreed the acquisition of another new build in the Austrian capital, the Green Worx office property, which offers 16,277 sq m of rental space. Completed in 2013, the property will join the portfolio of open-ended real estate fund Unilmmo: Deutschland. The purchase price is around EUR 50 Million.
Union Investment taps into Houston as another fastgrowing US market opportunity for its real estate funds
Union Investment continues its strategy of investing in secondary markets with strong long term economic and demographic growth prospects. After Austin and Minneapolis, the Hamburg-based real estate investment manager has now entered a third US market outside of the traditional East and West coast investment regions in just 20 months. Union Investment has secured the 36-storey office property 1000 Main Street in Houston's central business district for Unilmmo: Europa.
Union Investment: Open-ended real estate fund for institutional investors grows to almost EUR 400 million
Union Investment's UniInstitutional German Real Estate fund has grown to some EUR 400 million within 24 months, enabling the institutional investors concerned to benefit from considerable diversification. The open-ended real estate fund was established at the end of 2012 and recently acquired its eighth and ninth properties with the purchase of Tübinger Carré in Stuttgart and Pergamon Palais in Berlin. A large proportion of the cash raised in the fourth subscription phase has thus already been invested in attractive properties.
Union Investment acquires shopping centre in Poland for institutional retail fund
Union Investment announces the acquisition of Sarni Stok shopping centre, Poland from the CBRE Property Fund Central Europe, managed by CBRE Global Investors. The property is the second foreign investment for UII Shopping Nr. 1 retail property fund.
Union Investment sells Laim 290 office building in Munich to LaSalle
Union Investment has sold the Laim 290 office building in Munich, part of its Unilmmo: Deutschland fund, to LaSalle Investment Management Kapitalverwaltungsgesellschaft (LaSalle).The anchor tenant in the building, which was completed in 2008, is Bilfinger SE, occupying some 50 per cent of the total of approximately 10,381 sq of rental space. Laim 290 is ideally located for access to central Munich and the airport via Landsberger Strasse and the suburban rail Network.
Union Investment acquires shopping centre in Esslingen from Rockspring
Union Investment Real Estate GmbH is acquiring the Das ES! shopping centre in Esslingen from a fund managed by Rockspring Property Investment Managers. In doing so, the Hamburg-based real estate investment manager is adding a successful retail property to its existing EUR 6 billion shopping centre portfolio. Opened in October 2002, Das ES! enjoys strong footfall, with 6.5 million people visiting the shopping centre annually.
Union Investment acquires hotel and office complex in Vienna from S+B Gruppe AG
Union Investment has made its first acquisition outside Germany for its UII Hotel Nr. 1 special fund, buying the "ibis & ibis budget Wien Messe" complex in the Austrian capital. The property has a lettable area of 14,777 sq m, comprising 71 per cent hotel space and 21 per cent office space, plus 140 parking spaces. The developer is S+B Gamma Immobilienentwicklung GmbH, a subsidiary of S+B Gruppe AG and PBS Immobilienholding GmbH.
Union Investment acquires majority stake in Prague shopping centre Palladium
Union Investment has acquired a majority stake in the Palladium shopping centre in Prague for its open-ended real estate fund UniImmo: Deutschland by purchasing shares in a corresponding property company. Completed in October 2007 and boasting a gross floor area of 115,000 sq m, of which 41,000 sq m is dedicated to retail and 18,000 sq m to office use, the almost fully let Palladium is the largest shopping centre in Prague's central retail district.
Historically low interest rates cause further decline in real estate return expectations
• No evidence yet of shift to investments with significantly higher risk
• Core segment remains Europe’s safe harbour
• Letting markets in relatively good shape
• Investment Climate Index falls in Germany, France and the UK
• Core segment remains Europe’s safe harbour
• Letting markets in relatively good shape
• Investment Climate Index falls in Germany, France and the UK
Union Investment rejuvenates real estate fund portfolio
• Portfolio turnover in 2014 increased to 15 per cent of property assets
• Acquisition portfolio 11 years younger than sales portfolio
• Continuing strong activity on acquisition side at around EUR 2.5 Billion
• Acquisition portfolio 11 years younger than sales portfolio
• Continuing strong activity on acquisition side at around EUR 2.5 Billion
