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PGIM Real Estate makes senior hire in Italy

PGIM Real Estate has hired Musie Bocrezian, as executive director and head of transactions for Italy, based in its newly opened office in Milan, effective immediately. Bocrezian leads the firm’s efforts to source and execute investment opportunities in Italy. PGIM Real Estate is the real estate investment and financing business of PGIM, the USD1.3 trillion global investment management business of Prudential Financial, Inc. In this newly created role, Bocrezian adds local expertise to PGIM Real Estate’s ongoing investment activity in...

Savills names new head of property management in Sweden

International real estate adviser Savills has appointed Malin Silversvala as head of property management for Sweden. Silversvala, who has previously worked for Savills between 2010 and 2015, will rejoin the company on 1 July 2020. She has more than 15 years’ experience in the industry and most recently ran her own real estate management business, which assisted clients with their property management requirements. Her previous roles include head of property management at CBRE and asset manager at ICA Fastigheter. Source...

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Union Investment buys Ericus-Contor office building in Hamburg from Patrizia

Union Investment Real Estate has acquired the 18,900sqm Ericus-Contor office building in Germany from Patrizia. Union Investment, via its open-ended Unilmmo Deutschland real estate fund, has paid an undisclosed amount to buy the asset located at the opening of the HafenCity area of Hamburg. Constructed in 2012 and almost fully-let, Patrizia acquired the building at Ericusspitze 2–4 in 2014. Martin J Bruehl, CIO and management board member at Union Investment Real Estate, said: “In the current market phase, transactions around...

AEW grows European industrial portfolio with €91 million acquisitions

AEW has invested €91 million to buy five light industrial developments in France and Germany. The €71.2 billion global real estate manager said it has completed the acquisition of five light industrial developments in France and Germany, in separate transactions. “These build-to-core investments extend and complement AEW’s existing €4 billion pan-European industrial and logistics portfolio,” the manager said. Upon completion, developments will comprise 55,000 sqm in key locations in the immediate vicinities of Berlin, Stuttgart and Paris. AEW said Four...

Ivanhoé Cambridge invests in 50,000sqm Paris office development

Ivanhoé Cambridge has invested an undisclosed amount in a 50,000sqm office development in Paris. The real estate arm of Caisse de dépôt et placement du Québec said it has acquired Joya in Val de Fontenay, being developed by Europequipements and Groupe Quartus, to be delivered in 2022. Karim Habra, head of Europe and Asia-Pacific, Ivanhoé Cambridge, said: “We are very pleased to have completed this off-market acquisition, which is perfectly in line with our long-term vision for Greater Paris. “As...

LaSalle acquires multi-let Berlin office building from Patrizia

LaSalle Investment Management has bought a multi-let office building in Germany from Patrizia. Announcing the deal, Patrizia said the 8,600sqm Goethe 85 building in Berlin was sold for an undisclosed sum. Completed in 2004, the Goethe 85 building is located in Charlottenburg, separated from Berlin Mitte by the Tiergarten. Matthias Eder, director fund management office at Patrizia, said: “We are pleased to have completed this transaction and leveraged the positive momentum in the Berlin office market to crystallise positive returns...