The owner-managed real estate services company NAI apollo group is expanding in the area of structured consultancy services for institutional owners and investors. As part of this growth, NAI apollo group has appointed Björn Fraeb (38) to the newly created position of head of business development. He is responsible for the execution of structured real estate processes across Germany, including large individual sales and mandates as well as portfolio transactions in all commercial property asset classes. In addition, he is tasked with managing the relationships with institutional investors (buy side) as well as structuring transactions and client support (buy/sell side). Björn Fraeb reports to Dr. Marcel Crommen MRICS, managing director of the NAI apollo group, and will work together with the investment, corporate finance and asset management divisions on an interdisciplinary basis.

Björn Fraeb has previously held senior positions at Bank of Scotland Corporate (LBG) and brings many years of experience in the investment management of European private equity real estate portfolios. Most recently, he held the position of head of portfolio and transaction management at Tengelmann (TREI) from 2011-2015.

Tuesday, 15.09.2015

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Alpha Industrial is close to completing one of the most advanced logistics parks in Germany for the life sciences and health (LSH) sector. At present, the last 11,000 sqm of storage, office and social space is being built on a speculative basis in Biebesheim am Rhein in the state of Hesse. Once this modern building is completed in October 2015, the pharmaceutical logistics park will provide 45,000 sqm of high-quality space for the storage, production, order picking and packaging of medicines and other products from the pharmaceutical industry.

The project marks a further milestone for Alpha Industrial. Following the construction of the global distribution centre for Fresenius Medical Care in Biebesheim (2007 start) and the development and expansion of the Rheinfelden pharmaceutical logistics park in Baden-Württemberg (2012 start), the company is now promoting its third major project for this specialist industry. In addition, the company is taking into operation Germany's largest gas motor heat pump project with energy-efficient temperature control at Biebesheim.

The pharmaceutical logistics park is centrally located in the Rhine-Main conurbation and is in close proximity to numerous manufacturers from the life sciences & healthcare sector. In order to ensure optimum flows of goods, the site benefits from a good infrastructure with a trimodal connection to the A67 motorway, Frankfurt airport and the Gernsheim container port.

Pharmaceutical and chemical sectors in Hesse show increase in orders
According to the Regional Statistical Office in Wiesbaden, incoming orders for Hesse's industry increased by 5.1% when adjusted for price in the first half of 2015, and by 2.5% compared to the previous year's period (1. half-year 2014). At the same time, June 2015 saw an increase of revenue year-on-year by 6.7% to almost €9.5 billion, registering particularly strong growth of the pharmaceutical and chemical industries by almost 20%.

Tuesday, 15.09.2015

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Frankfurt-based real estate investor Deutsche Immobilien Chancen just signed two lease agreements for the Opera Offices Neo property at Grosse Theaterstrasse 31 – 35 in Hamburg:

• The tax services firms of Conrad & Partner Steuerberatungsgesellschaft mbB and of Lahann + Partner Steuerberatungsgesellschaft mbH together rented around 1,100 sqm that will accommodate the companies’ entire business premises. The transaction was brokered by the estate agency JLL.
• At the same time, the law firm FPS Fritze Wicke Seelig Partnerschaftsgesellschaft von Rechtsanwälten mbB rented around 900 sqm of office and archive area for its office in Hamburg.
• Last year, around 30 percent (c. 2,800 sqm on the 5th to 7th floor) were prelet to Immac Holding AG, an investment company domiciled in Hamburg. This brings the volume of office and commercial space let on forward commitments to roughly 60 percent of the total floor area of 8,500 sqm.

In downtown Hamburg, right across from the opera house, a development of a mixed office-commercial building with a total commercial floor area of 8,500 sqm is under way, to be completed by summer 2016. The foundation stone was laid on 21 May 2015. The investment volume will total approximately 35 million euros. DIC Asset AG holds a 20-percent interest in the Opera Offices Neo property development.

DIC acquired the property in 2006 – together with 50 other commercial properties – as part of a real estate portfolio (known as “Primo 3”) from the City of Hamburg. The plot was formerly occupied by administrative buildings of Hamburg's state opera. In 2008/2009, planning was completed for two building complexes under the name “Opera Offices.” The first of these, Opera Offices Klassik (today: Schumacher Kontor) was completed in 2013 and sold to a Hamburg-based investor. In late 2014, construction work started on the Opera Offices Neo complex of buildings.

The building was designed by the renowned architectural firm of Störmer Murphy and Partners, the same company that was previously commissioned to build the property Opera Offices Klassik. The building complex will have a spectacular sinuous architecture and a height of nearly 30 metres and include, in addition to the ground floor, a basement floor with 34 underground car park slots, and seven upper floors. A modern flagstone / aluminium façade will visually connect to the historic neighbourhood.

The plans calls for retail units and restaurants on the ground floor. The first and the seventh floor are topped by two large rooftop patios. The building is to be certified as green building according to the “Silver” standard of the DGNB German Sustainable Building Council.

Tuesday, 15.09.2015

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The MStar Europe fund, managed by M7 Real Estate, has let 8,300 sq m of logistics space in Kassel-Waldau to the Rudolph Logistik Group. The lease is initially for three years. In expanding its logistics capacity the company is staying abreast of the growth of its regular clients in the field of fulfilment. The deal was brokered by Realogis.

The property, in Gobietstrasse, has a total lettable area of 15,200 sq m, with 15,000 sq m of warehouse space and 200 sq m of offices. The building was vacant when MStar Europe bought it in October 2014.

Tuesday, 15.09.2015

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Fashion retailers New Look and Moss Bros are leading a host of retail lettings for The Liberty, the 110-unit pre-eminent shopping and lifestyle centre located in the heart of Romford.

New Look is taking a new 10-year lease on the 786 sq m (8,465 sq ft) unit GL11 and Moss Bros has taken a new 10-year lease on unit E5, a 266 q m (2,869 sq ft) located next to River Island and Top Shop. New 10-year leases have also been agreed with Perfume Shop for the 95.87 sq m (1,032 sq ft) Unit N2.

A lease re-gearing for Card Factory will see an extension of its lease on the 213.4 sq m (2,297 sq ft) unit GL1a until 2021. Dorothy Perkins is also taking a further three-year lease on its 265.8 (2,862 sq ft) unit.

The centre is owned by Cosgrave Property Group which recently agreed a £140 million refinancing package with M&G, is anchored by M&S, Topshop, Primark and Debenhams along with H&M and Next. River Island, Monsoon, Superdry, Monsoon and Virgin Media are also among the tenant line-up.

MMX Retail and CBRE act on behalf of The Liberty Centre. New Look and Dorothy Perkins and Card Factory represented themselves. Perfume Shop was represented by Mason Partners.

Tuesday, 15.09.2015

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South Yorkshire property consultancy Commercial Property Partners has successfully secured a new asset management instruction for a 1,250,000 sq ft multi-let property portfolio in Yorkshire.

CPP have been instructed to provide Asset Management and Agency services to a fund managed by London-based property fund manager Clearbell Capital LLP.

Clearbell Capital LLP is a private real estate fund management and advisory business specialising in UK property investment, development and asset management. It has recently acquired the Polaris and Amber portfolios on behalf of its fund for a combined price of £203 million.

The sites include the 360,000 sq ft Davy Industrial Park in Sheffield; the 470,000 sq ft Parkway Works in Sheffield; the 118,000 sq ft Hutton Business Park in Rotherham; and 130,000 sq ft of assets at Sheffield Business Park.

CPP will be pro-actively managing in excess of 50 tenancies with a rent roll in the region of circa £3.5m per annum.


Tuesday, 15.09.2015

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BlackRock Real Estate has sold Lands Improvement to Telereal Trillium. Lands Improvement is one of the oldest land investment companies in the UK, tracing its origins back to 1853. It specialises in the acquisition, planning promotion and delivery of strategic infrastructure for residential-led development land, and manages 26 land sites across the UK, with 2,500 acres and an estimated pipeline of 13,000 homes. The company was acquired by BlackRock Europe Property Fund III L.P. in December 2009. Under Blackrock’s ownership Lands Improvement developed its strategy from focusing on the promotion and delivery of long-term land sites to include sites where planning permissions could be expected in the medium-term, to deliver land parcels that cater to the UK’s more immediate housing supply needs.

Chris McCormack, Director at BlackRock Real Estate, said, “Lands Improvement has undergone significant change in the last six years and has a strong track record in sourcing and executing land transactions. We have realised a good return for our investors and are confident that the business’ healthy pipeline of deals will allow it to thrive further in the future.”

Graham Edwards, CEO of Telereal Trillium said: “At a time when there is a chronic housing shortage within the UK, we are delighted to be acquiring one of the major players in addressing the housing shortfall. Lands Improvement is a highly successful business. It has a strong management team, important strategic relationships with key partners, and some outstanding land holdings. We believe that it provides a great platform to make the most of the assets it already owns, to make further investments into new sites, and to add value to sites within Telereal Trillium’s existing nationwide portfolio.”

Blackrock was advised by Rothschild.

Tuesday, 15.09.2015

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H.I.G. Capital announced that its affiliate has reached an agreement with the shareholders of Finangeste, a Portuguese asset manager, to acquire two real estate-based portfolios. The portfolios are comprised of 77 Real Estate assets and 114 secured loans with a face value of over €110 million.

The transaction represents H.I.G.'s 21st real estate investment in Europe since the beginning of 2013. H.I.G. continues to add to its sizeable portfolio of Real Estate assets in Europe, especially in its target market of small/midcap opportunities with a meaningful value-added component

Tuesday, 15.09.2015

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JLL has announced that Yash Kapila has been appointed as Chief Operating Officer for its Integrated Facilities Management (IFM) division in Europe, Middle East and Africa (EMEA), with full responsibility for account operations and business transformation, effective from the fourth quarter of 2015.

Mr Kapila is currently an International Director at JLL in India and he brings to the role 22 years of industry experience.

A UK national, Mr Kapila will now return to Europe and be based in London. JLL's IFM team proactively measures and manages the performance of corporate clients' buildings. It also maximises the efficiency of real estate staff, optimises operational spend through strategic sourcing and reduces building energy costs by lowering consumption.

Mr Kapila succeeds Ed Povinelli, who has moved to a new role within JLL.

Tuesday, 15.09.2015

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Ducalian Capital, a real estate venture capital firm, has acquired The Harcourt Arms, a freehold pub with 4,200 square feet of trading space on Harcourt St, in Marylebone, W1. The property was purchased for £3.05m and adds to Ducalian's portfolio of developing real estate businesses.

Ducalian has partnered an experienced management team at The Harcourt Arms, with an excellent track record in hospitality-led businesses and operational real estate.

The new team will undertake a comprehensive refurbishment programme, to increase food and beverage sales in the first phase of the redevelopment. The pub and restaurant are expected to reopen December 2015.

Davis Coffer Lyons provided valuation advice.

Tuesday, 15.09.2015

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Winckworth Sherwood has strengthened its Real Estate team with the appointment of senior associate Kirsten Dunlop.

Kirsten joined the firm’s 100-strong Real Estate team on 1 September from Shepherd and Wedderburn in London. She brings to the firm considerable strengths and expertise in acting for property investment and development companies, individuals, trusts, insolvency practitioners and renewable energy developers.

Tuesday, 15.09.2015

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British Land and Oxford Properties announce today two new lettings at The Leadenhall Building to global energy company Petredec and Fidelis Insurance.

Petredec, which buys, sells and distributes Liquefied Petroleum Gas, has selected The Leadenhall Building as the location for its European headquarters. The company has signed a ten year lease to occupy 9,970 sq ft on Level 35 of the building.

Fidelis, a global insurance and reinsurance risk carrier, will occupy Level 34 of the building, totalling 10,345 sq ft. The company has signed a ten year lease.

There are now just five floors still available at The Leadenhall Building. Aon and Amlin, which signed pre-lets for 191,000 sq ft and 111,000 sq ft respectively, have this summer completed their phased moves into the building, joining six other companies already in occupation.

DTZ and JLL advised British Land and Oxford Properties. Ashwell Rogers advised Petredec and Savills advised Fidelis Insurance.

Tuesday, 15.09.2015

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After a construction period of 18 months, Park Afyon in Afyonkarahisar, last week opened its doors to the visitors. The investor of the 120 million dollar project is Afyon Girişim A.Ş.. ECE Türkiye is responsible for the planning concept, the leasing and the long-term management of the shopping center. Park Afyon is already the 11th shopping center under the management of ECE in Turkey.

On an overall leasable area of 45.000 m² Park Afyon operates on four floors with 160 specialist stores, national and international fashion brands, a department store, supermarket, consumer electronics market, a cinema with 8 halls, a food-court with 2.000 seating capacity, restaurants & cafés, a large child entertainment area including a bowling alley and an ice skating rink. 1.150 parking spaces are available to the visitors.

Park Afyon is directly located in the city center of Afyonkarahisar. The city is located in the west central part of Anatolian peninsula and the inner edge of Aegean Region. Expanding into Turkey’s three geographical regions (Agean, Mediterrenean, and Central Anatolia) Afyonkarahisar is a hub which links major highways and railroads.

160 local, national and international brands operate in Park Afyon, which is designed as a vibrant shopping destination. Well-known brands of Park Afyon premiering in the city are Boyner, CarrefourSA, Cinemaximum, Armağan Oyuncak, Deichmann, H&M, İpekyol, Network, Soobe and Vakko among others. Furthermore, strong power of attraction is created by the center with the tailor-made mixture of retail and entertainment units such as DeFacto, Koton, LCWaikiki, Madame Coco, TeknoSA and Park Afyon Entertainment Center. 27 cafés and restaurants with open terraces including Kahve Dünyası, Kasap Doner, KFC, Mado, Simit Sarayı, Starbucks and Gulyurt, which is a strong local brand in Afyonkarahisar, offer different tastes of the Turkish and world cuisine to the visitors.

Park Afyon is located in the very center of Afyonkarahisar, on the site of the former bus terminal. Thanks to its convenient location, the center is easily accessible on foot, by car or public transport. Approximately 700 thousand people live in the catchment area of Park Afyon.

Tuesday, 15.09.2015

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AXA Real Estate Investment Managers announces that, on behalf of one of its clients, it will undertake an extensive redevelopment of over half of the 60,000 sqm Prado office complex in Madrid, which was acquired in 2005, as part of its development strategy. Acciona has been commissioned to act as construction manager on this project.

The landmark seven-storey asset, one of the largest office developments in central Madrid, consists of three buildings, North, West and South, 45% of which is currently let out, comprising the entire North building. The remaining 55% of the site, covering the South and West buildings, will be extensively redeveloped to deliver 35,000 sqm of Grade A office space, plus a further 6,000 sqm of underground parking and storage facilities. The project aims to capitalise on the lack of modern office space in central Madrid, together with an extremely limited pipeline, and targets an Excellent BREEAM rating for its sustainable design.

Prado's West building, comprising 21,000 sqm, will undergo a comprehensive redevelopment. Its attractive and protected industrial façade will be maintained while the interior will be significantly restructured in its entirety, maximizing both natural light and floor plate efficiency. The South building will be rebuilt into a brand new office development amassing 14,000 sqm, benefitting from the same high quality interiors, finishes and facilities as the adjacent West building. Both buildings have been designed to operate either independently or combined as a unique office complex, with works due to start in Q3 2015 with completion estimated in Q2 2017.

Tuesday, 15.09.2015

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