Industry News

Belgian developer Immobel has announced the sale of The Woods redevelopment project in Hoeilaart, Flemish Brabant, Belgium to a family office. Immobel acquired the vehicles holding title to the site in 2020 and completed the redevelopment in early 2022. Since the acquisition and following the full refurbishment of the site, the occupancy rate increased from 40% to about 86%. Nestling entirely within the Sonian Forest in Brussels, The 10,000 m2 scheme offers an original and up to date working environment...

An investment fund managed by Nordic asset manager NREP has agreed to sell a residential portfolio of 942 apartments in Finland to local rental housing specialist Kojamo for an undisclosed amount. The portfolio consists of 13 assets in the Helsinki Metropolitan Area, Turku and Jyväskylä, with a leasable area of 32,000 m2. The assets, located adjacent to great local amenities and public transportation connections, have been developed by NREP and completed between the years 2017-2021. The portfolio is 100% BREEAM-certified...

Financial details were not disclosed. Situated in Chiari, the newly built logistics hub - completed earlier this month - consists of two buildings with a total area of about 84,000 m2, of which almost 14,000 m2 have been pre-let to an Italian operator in the logistics sector. The assets were built to Grade A standard and will achieve LEED Gold certification. The park is on an area of about 195,000 m2 adjacent to the Chiari motorway exit, along the A35...

Privately held investment firm Cain International has agreed an £86 mln (€100 mln) development loan with BauMont Real Estate Capital and YardNine for the development of a sustainable office property in central London. The 95,000 ft2 (8,825 m2) scheme at 100 Fetter Lane will be known as Edenica. The asset was acquired by BauMont in January 2021 with development partner, YardNine, and is located in City mid-town, in close proximity to Farringdon. The asset received planning consent in September 2021...

BNP Paribas Real Estate Investment Management (REIM) has raised a further €50m for its open-ended European office investment fund. The manager said the Next Estate Income Fund III (NEIF III) fund’s latest capital raise, which occurred in the first quarter of the year, was backed by two new unnamed European institutional investors. BNP REIM said NEIF III’s total commitments to date stand at €568m, giving it a total investment capacity of over €900m when factoring in leverage. Launched in 2017...