Industry News

After the purchase agreement was signed in November 2017, the transaction for “Generation Park X” in Warsaw was closed last week. The LEED Platinum certified building is located in the central Wola district, part of the central business district (CBD), and has total floor space of approximately 21,400 square metres. The main tenant is the financial service provider Citi Service Center Poland, which is part of Citigroup. The seller was the project developer Skanska. Press release – 02 October 2018

Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, has acquired the Bürohaus an der Alten Oper, a trophy asset with value-add potential for its own, new German investment management platform (KVG). Tishman Speyer Investment Management GmbH (TSIM) will launch and manage open-ended and closed-end property Special Funds. The first acquisition was made via a Special AIF for German insurance group Versicherungskammer. The seller of the asset is a special purpose vehicle...

Barings Real Estate has entered the UK private rented sector (PRS) with the acquisition of a 240 unit multifamily property from Moorfield Group. Barings has bought The Keel at Queens Dock in Liverpool for £46.8m (€52.6m). The investment has been made as part of Barings’ pan European core investment strategy on behalf of institutional investors. IPE Real Assets – 01 October 2018

Commerz Real has leased out approximately 13,000 sqm of office space in The Edison Center, in Sesto San Giovanni, to the north of Milan, Italy. 2,600 sqm will be taken from October 2018 by a subsidiary of a US pharmaceuticals company. The property’s main tenant is Heineken, which has decided to lease an additional 420 sqm, taking its total occupancy to 7,100 sqm. The move has enabled Commerz Real to extend the outstanding term of the brewing company’s lease from...

The former head of Corestate Capital Group is back in the real estate market with a new company and a new business model: Just in time for the upcoming Expo Real in Munich, Europe’s largest trade fair for real estate and investment, Sascha Wilhelm has announced the launch of x+bricks AG, a new player in the market. The company launches with Thomas Dänzel, the former Head of Retail Investment at Colliers, as Chief Transaction Officer. Stefan Zimmermann, founder of the...