REFIRE — German Real Estate Finance

UK REIT Hansteen refinances €343m German loans

London-listed REIT Hansteen Holdings, which specialises in UK and European industrial property, said earlier this month that it had managed to refinance two loans secured against its German portfolio with two new loans totaling €343 million. more »

F&C REIT with fresh commitments for German retail

REFIRE bumped into the top brass of Munich-based F&C REIT Asset Management at the MIPIM recently, and we must admit we felt a little sheepish as they listed all the deals they had done last year, which perhaps we hadn’t fully registered. more »

Pbb Deutsche Pfandbriefbank boosts new lending, prepares privatisation

Pbb Deutsche Pfandbriefbank, the ‘good bank’ that survived from the ruins of the old Hypo Real Estate, managed to boost its pre-tax profits for the full year 2013 to €165m, an increase of 30% on the previous year, in part due to the once-off effect of the sale of a major property asset. more »

New mandates to boost Warburg-Henderson’s footprint in 2014

It looks like it’s been a very good year for the Hamburg-based Warburg-Henderson KAG, the joint venture between UK fund giant Henderson Global Investors and traditional Hamburg private bank M.M. Warburg & Co. more »

Credit Suisse planning big boost in German investment

German trade publication Immobilien Zeitung carried an interesting interview recently with the head of real estate investment at Swiss bank Credit Suisse, Daniel Tochtermann-Pedio. The bank had earlier made it clear that it planned considerable... more »

Ares Management teams with Forte for German resi acquisition

Los Angeles-headquartered Ares Management LLC made its first foray into German real estate earlier this month, when it teamed up with Frankfurt-based Forte Real Estate to buy a residential portfolio located across several large cities in western... more »

Competition for prime assets forces Allianz to review strategy

German insurer Allianz Real Estate has had to radically review its strategy of reaching €30bn in property assets under management by the end of this year, and has put that target back by four years to 2018. According to CEO Olivier Piani in a... more »

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Immofinanz CEO Eduard Zehetner (left) and Buwog CEO Daniel Riedl (right)

IMMOFINANZ AG

Immofinanz shareholders give green light to BUWOG spin-off

The shareholders in listred Austrian property group Immofinanz gave the green light earlier this month for management to clear the way for the spin-off of the group’s residential subsidiary Buwog. Shareholders will receive one share in the newly... more »

Apr 8, 2014 by Charles Kingston in Investment

REFIRE - Florian Glock

€70m first closing for Caerus debt fund

One man who looked happy at the recent MIPIM conference in Cannes was Michael Morgenroth, the CEO of Düsseldorf-based Caerus Debt Investments, one of a new breed of German debt funds stepping into the market being vacated by several of Germany’s... more »

Apr 1, 2014 by Charles Kingston in Companies

The company has now raised a credit line of €845m for both portfolios, with a repayment schedule of 2018 and 2020.

All-new Prime Office AG starts life with refinancing, fresh capital

The newly-created Prime Office AG started life in February by an immediate raising of €130m in a cash capital increase designed to strengthen its capital position and to reduce leverage. The new office property platform, focused on the larger... more »

Mar 31, 2014 by Charles Kingston in Companies

The properties are located throughout eastern Germany, with a heavy concentration in the state of Thuringia, where about 3,000 of the units are in the university towns of Weimar, Erfurt and Jena.

TAG Immobilien buys 4,000 units, boosts bond issue

Listed German residential investor TAG Immobilien boosted its holdings to over 74,000 units earlier this month when it paid €120.5m to buy 3,985 residential and 26 commercial units in an asset deal... more »

Mar 27, 2014 by Charles Kingston in Investment

Single-family house prices could rise by 3%, says the study, entitled “German Residential Real Estate as an Investment”

German residential prices set for further steady rise through 2014

Residential prices in Germany are expected to continue their upward trend through 2014, with prices for newly-built apartments expected to rise by up to 5%, according to a new study from the University of Regensburg and commissioned by Deutsche... more »

Mar 26, 2014 by Charles Kingston in Markets

Corestate will, however, invest up to €500m in Germany this year based on its preferred strengths, actively managing assets and taking up to 25% equity stakes in investment.

CORESTATE Capital AG

Back to opportunistic roots for Corestate, exits ‘core’ sector

The Zug, Switzerland-based specialist for German opportunistic real estate investment, Corestate Capital, has been muttering about the difficulties of finding new value-add opportunities for some time. It had traditionally left the field of ‘core’... more »

Mar 25, 2014 by Charles Kingston in Companies