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JLL appoints Stephanie Hyde as UK CEO

JLL has appointed PwC executive Stephanie Hyde as CEO of its UK business with effect from April 2021. Hyde, who currently leads large global client accounts, has been at PwC for 25 years. Roles have included running PwC’s industry programme with a focus on technology, transformation and sustainability. She previously led the UK regional business for PwC and has been a member of the firm’s global leadership team and UK executive board. Current UK CEO Chris Ireland, who has held...

CBRE GI acquires 10,005sqm PRS development in Stockholm

CBRE Global Investors has invested an undisclosed amount to forward fund a 200-apartments project in Sweden. The $114.5bn (€93bn) global real assets manager said, on behalf of one of its pan-European funds, it has agreed the forward funding and acquisition of the 10,005sqm private rented sector development in Ursvik Sundbyberg, Greater Stockholm from Magnolia Bostad. The project is due for completion in 2023. Andreas Norberg, head of investment operations, Nordics, CBRE Global Investors said: “This was a rare opportunity to...

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Patrizia adds fully-let 4,400sqm central Berlin office asset to portfolio

Patrizia has added a fully-let 4,400sqm office building in central Berlin to its portfolio. The manager, on behalf of its institutional clients, has paid an undisclosed amount to buy the newly built Michaelkirchstraße 20 building from Spree Area. The building is let to Urban Sports Club. Ulf Christiansen, director of transactions at Patrizia said: “We are pleased to have completed the off-market acquisition of this new office building in a central Berlin location that is establishing itself as a key...

AEW buys €500 million logistics portfolio from Patrizia for German insurer

Global real estate fund manager AEW has acquired a portfolio of 14 logistics assets in Germany on behalf of a German insurer by purchasing a fund managed by pan-European fund manager Patrizia and industrial developer Garbe. The Roots Portfolio encompasses about 285,000sqm of logistics space. The assets are a mix distribution and cross-dock properties, 96% let to tenants including DB Schenker, DSV and Dachser and located in Munich, Frankfurt, Stuttgart and Hamburg. Gereon Kohlgrüber, head of investment Germany at AEW...

Patrizia acquires 13,300sqm Berlin office property

Patrizia has invested an undisclosed sum to buy an office building from German property investor Real Capital Holding. Patrizia said the 13,300sqm property in central Berlin is almost entirely let for another 3.5 years. The property is located on Neue Jakobstraße in the Berlin-Mitte district between Alexanderplatz and Kreuzberg. Ulf Christiansen, head of value-add acquisitions at Patrizia, said: “This was a great opportunity to acquire a good quality, well-connected asset in an improving submarket which is let to a high-grade...

Barings to build logistics complex in South Verona

The real estate arm of $354bn (€284bn) asset manager Barings has acquired land in South Verona, Italy to build a 75,000sqm logistics complex. The land was purchased off-market from an Italian real estate fund managed by Kryalos SGR. The LEED certified complex will be built in two phases by local developer Logiman. Logiman will build 40,000sqm of space this year and a further 35,000sqm by the middle of 2022. The development is situated some 10km south of Verona city centre...