CA IMMOBILIEN AN.

Berlin: high demand and low supply in the property market

• CA Immo: added value from procurement of planning
permission, sale of land and selective proprietary
developments
• 2012: Investment volume of about € 245 m in
Frankfurt and Berlin

Berlin’s property market is booming – an increasing
population and growing services sector are driving demand
sky-high both for apartments and for offices. This is
contrasted by a supply of property that has seen building
solely on an «as-required» basis over the past few years
and is scarce in many segments. This potential is
increasingly enticing international property companies
into the German capital and Austria also has a strong
presence there.

CA Immo helps design the new Berlin
Since taking over the German urban district developer,
Vivico, in 2008, CA Immo has had a presence in Berlin
with total property assets with a market value of about €
519 m. Just under half of this (€ 222 m is accounted for
by property assets under development. CA Immo currently
has three development projects under construction in
Berlin with a total investment volume of € 194 m. The
Group also owns some 1. 4 m sqm of land reserves (with
planning permission in the German capital, some of these
reserves being large sites with the potential for
residential construction.

Dr. Bruno Ettenauer, CEO of CA Immo comments: «We can
currently leverage vast potential in Berlin and are
benefiting from the present positive market situation. We
are rapidly pushing forward development all around
Berlin’s main railway station (Hauptbahnhof in the
government quarter with Europacity. One of the projects
that we will be completing there by the end of this year
is the new German headquarters of the oil group TOTAL. We
can exploit the large volume of excess demand across the
board. This excess demand can be seen particularly in the
residential and hotel sector, where we are participating
with the lucrative sale of dedicated building plots and a
few joint venture projects. We are implementing
proprietary developments exclusively in the fields of
commercial use, particularly in the office and hotel
sector. »
In 2011, 56% of sales revenues were accounted for by
building plots within the framework of German urban
district development, for which the relevant value-adding
zoning permits had previously been acquired. Ettenauer:
«We were able to sell these building plots at well above
book value and also have the advantage of not losing any
rental income in subsequent years as a result.»

It is obvious that supply will increase rapidly along
with demand – numerous developers have discovered the
location for themselves. Ettenauer: «We are aware that we
will not be the only project developers in Berlin over
the next few years. I am expecting the limited
availability of project funding to create «healthy
regulation» in the project development sector here.» The
prerequisites for financing commitments include a high
pre-leasing ratio (at least 40% and a good credit
rating, along with experience and a proven track record
on the part of the investor. Ettenauer: «We can furnish
all of these and will continue to be able to do so, so
that we are well placed to provide a high-quality supply
of property quickly here.»

Urban district development – from brown field to fully
integrated neighbourhood
Urban district development describes a specific form of
development project, in which extensive, derelict or
former industrial properties are systematically
transformed into modern, mixed-use urban districts. The
existing land reserves acquire added value in this
process through the acquisition of planning permission
and are then turned to account by means of sales,
proprietary development projects or joint venture
developments. Once a project is completed, CA Immo either
integrates it into its own asset portfolio or sells it on
completion to an end investor.
Ettenauer: «In the residential sector, in particular, we
are increasingly looking to sell plots or enter into
joint ventures at an early stage. This enables us to keep
the time-to-market short in markets with a high
residential demand – such as Berlin, for example – while
simultaneously jump-starting the district as a whole.»
The latest examples are the joint venture between CA Immo
and Hamburg Team in Berlin’s Europacity, which plans for
the construction of some 550 apartments at «Hamburger
Stadthafen» (city harbour  in Europacity, Berlin,
and the joint venture with Reggeborgh Investment in
Berlin’s Flottwellstrasse (250 apartments.

Goal: speedy, profitable utilisation of land reserves
More than 80% – € 300 m – of total investment volume in
2012 is being poured into ongoing construction pro-jects
in Germany. Frankfurt and Berlin, in particular, are the
focus of investment activities. Ettenauer: «With the
completion of the Skyline Plaza shopping centre, planned
for 2013, we will have largely finalised the development
of Frankfurt’s Europaviertel district. We are currently
at the stage, in the development of the Europacity in
Berlin, at which we were in Frankfurt three years ago.
Here – after acquiring the zoning permits – our aim is to
rapidly and profitably utilise land reserves.»

CA Immo in Germany
Total property assets in Germany have a market value of €
2.4 billion, corresponding to about 45% of the total
portfolio. Whereas, in Austria and Eastern Europe, CA
Immo is principally seen as a portfolio manager, in
Ger-many the focus is clearly on project and urban
district development. About one-third of the German
property assets take the form of development projects (€
771 m, totalling over 80% of CA Immo’s total development
project business. Major German urban district
developments are, for example, the Europaviertel district
in Frankfurt or Europacity around Berlin’s central
railway station (Hauptbahnhof. In addition, CA Immo’s
asset portfolio in Germany has a market value of € 1. 5
billion and includes landmark buildings, such as the
Spreebogen office building, the Königliche Direktion
building (formerly housing the headquarters of the «Royal
Railway» or the «Hamburger Bahnhof – Museum für
Gegenwart» museum of contemporary art (all of these are
in the centre of Berlin, and the Hessen Portfolio with
approximately 450,000 sqm of rentable area (36 properties
with long-term leases to the German state of Hessen in
and around the cities of Wiesbaden, Kassel, Marburg and
Giessen. In terms of classes of use, 90% of the German
property asset portfolio comprises office properties.

 CA Immo in Berlin – overview of projects

Europacity urban districtThe Berlin West and Mitte districts are merging -
and CA Immo is directly involved in the process: the
project site for the new Europacity urban district, with
an area of about 40 hectares,   is located in
the immediate vicinity of the central railway station
(Hauptbahnhof and will connect the districts of
Westberlin and Berlin Mitte. The main owners of the
project site areas are CA Immo Deutschland (about 20 ha,
Deutsche Bahn AG (about 10 ha and the state of Berlin
(about 6 ha. The development goal is the creation of a
mixed-use district immediately adjacent to the Charité
university hospital, the seat of government and the
central railway station. CA Immo currently has two
projects under construction at this site: the TOUR TOTAL
office block and the InterCity Hotel Berlin Hauptbahnhof.

 TOUR TOTAL – first office block in the new
Europacity district
The German headquarters of the oil company TOTAL is being
erected in the immediate vicinity of Berlin’s central
railway station (Hauptbahnhof. With a gross area of
18,000 sqm, this is the first office block in the new
Europacity district. CA Immo is the planner and owner;
the building has been designed as a «green building».
Planned completion is the second quarter of 2012. The
total investment volume is about € 70 m.

Intercity Hotel Berlin HauptbahnhofCA Immo is putting up the «InterCity Hotel Berlin
Hauptbahnhof» for the Steigenberger Group between
Berlin’s central railway station and the Chancellery. The
eight-storey building has been designed as an upper
mid-range hotel. With about 410 rooms, this will be the
largest InterCity Hotel; the building will cover a gross
area of 19,800 sqm and have room for about 70 parking
spaces. The total investment volume is € 53.2 m.

CA Immo is building for Mercedes BenzIn addition to the construction projects in
Europacity, CA Immo is also building the new German
headquarters for Mercedes-Benz Vertrieb Deutschland
(MBVD in the Berlin Friedrichshain district. The
foundation stone for the «green building», certified by
the DGNB (German Sustainable Building Council, was laid
in November 2011 and the lease commences from mid-2012,
initially for a ten-year period. With this project, MBVD
is bundling all its previous Berlin locations in one
newly erected property to be planned and built by CA Immo
to MBVD’s specifications. CA Immo has the role of both
owner and investor in this project. The total investment
volume is about € 72 m.

Monday, 30.

Читать полностью или написать коммент.. Про установку спутниковых тарелок в Московской областиhttp://tarelka-tv.ru/