ARTICLES LABELLED WITH TAG Germany

VGP NV and AREIM Pan-European Logistics Fund AB have announced the signing of an initial transaction between VGP and its 50:50 joint venture SAGA. The target investment is reaching €1.5 billion.

JTRE is strengthening its position as an international developer. It has established a German branch and has announced its first project in the central Berlin location.

In 2023, MLP Group delivered a satisfactory set of results, both from the operational and financial point of view, driven by strong leasing performance on warehouse space across all its markets. The company recorded 29% revenue growth, with 2024 set to be the harvesting time.

Galeria Karstadt Kaufhof, Germany’s largest department store chain owned by Austrian Sign Group, has initiated its third insolvency procedure in less than four years over financial issues.

Signa, one of the largest real estate holdings in Austria, said it would file for insolvency on Thursday in Vienna, after one of its subsidiaries took a similar step earlier in Germany.

CA Immo has reported a good operating performance for the first three quarters of 2023. The results show, among other things, a significant increase in rental income (+9%) and high income from the sale of non-strategic properties (sales result of €158 million, FFO II +88%), which led to an increase in the operating result (EBITDA) of 129% compared to the previous year´s figure. In total, CA Immo generated a consolidated net profit of €61.1 million, which was around 77% below the previous year's figure, primarily due to the non-cash-effective, market-related negative result from revaluation.

CTP has unveiled plans to invest €600 million in the coming years to double its portfolio to 20 million sqm by 2030.

International Industrial Properties (IIProp), a logistics platform focused on investing in industrial and logistics space, owned by Madison International Realty and Griffin Capital Partners, sold a single-let logistics property in Germany. This is the company's second transaction in Germany, following its first portfolio sale in June 2022.

As a result of a legal dispute between real estate tycoon Radovan Vítek's CPI Property Group and businessmen Marek Čmejla and Jiří Diviš, a Cypriot court has reportedly ordered banks to freeze CPI Property Group's assets worth almost CZK 13 billion (€553 million), according to the German economic newspaper Handelsblatt, cited by the Czech daily Hn.cz. CPIPG, however, denies the German newspaper's information, saying that the interim measure is not in force and that no accounts have been seized or assets were frozen.

Berlin-based property developer firm Bauwert AG is entering a strategic partnership with Hungary’s Wing Group, as well as international investment & asset manager Griffin Capital Partners. For this purpose, the three companies signed an agreement under which Wing and Griffin will together acquire 60% of Bauwert’s shares. The remaining 40% will be kept in the ownership of the existing shareholders. Wing Group will have a controlling interest in the company.