Industry News

Following its launch into Poland, Logicentres is now beginning the expansion of its logistics facility in Wroclaw, Poland. The expansion will add 22,500 square metres of space and the new section is scheduled for completion in the last quarter of 2022. In the summer of 2021, the logistics property company announced its intention to expand its presence outside the Nordic region with its first venture in Poland. As a first step, Logicentres acquired the Polish company BIK SA and its...

PATRIZIA AG, a leading partner for global real assets, has acquired a residential turnkey development opportunity in Hamburg, Germany, from the residential developer Instone Real Estate. PATRIZIA made this off-market acquisition on behalf of its institutional clients. Scheduled for completion in autumn 2024, Urban.Isle Campus is aimed at students and young professionals and will provide c. 10,100 square metres of residential rental space across 469 fully-furnished, high quality micro apartments, with an average size of 23 square metres. Amenities include...

AEW has bought a last-mile logistics and business park development in Germany on behalf of an unnamed German pension scheme. The real estate manager said it has acquired the asset in Hanau, close to Frankfurt for the pan-European separate account mandate it manages on behalf of the pension scheme. The logistics park project was acquired from Inbright and Convalor for an undisclosed amount. The project, which is due to complete in early 2023, will comprise three warehouse buildings totalling 28,000...

Greystar Real Estate Partners LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing properties, today announces it has signed an agreement with developer Stebru for the acquisition of 406 private-sector rental flats in the new development, Levels in The Hague. The agreement follows the recent successful co-operation between the two parties in the realisation of OurDomain Rotterdam Blaak, a large-scale residential complex in the centre of Rotterdam. Levels is a development of Stebru in...

Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development, and management of high-quality rental housing, has agreed to acquire four purpose-built student accommodation (“PBSA”) buildings and a build-to-rent (“BTR”) asset for GBP388 million from Downing on behalf of a managed fund in an open market bidding process. The acquisition is subject to regulatory approvals. The four PBSA assets comprise a total of 1,807 beds in the leading university cities of London, Manchester and Coventry. The Build...

Generali Real Estate has completed the acquisition of the high-quality office building Weidt Park Corner in Berlin, on behalf of the pan-European fund Generali Europe Income Holding (GEIH) managed by Generali Real Estate S.p.A Società di gestione del risparmio. The seller of the asset is DWI Group, a renowned developer based in Hamburg. The eleven-storey Weidt Park Corner building comprises around 12,600 square metres and is located as a landmark on Otto-Weidt-Platz, the most central spot in Berlin’s emerging Europacity...

Legal & General Investment Management Real Assets (LGIMRA) has today announced, on behalf of Central Saint Giles Limited Partnership, its 50:50 joint venture with Mitsubishi Estate London Limited, that it has sold the iconic Central Saint Giles office development in London’s West End to Google for USD1 billion. The sale represents a strong exit from the joint venture vehicle for both investors after developing and owning the asset for more than 10 years. Central Saint Giles is one of London’s...

Europa Capital, the pan-European real estate investment manager, announces that it has acquired, in partnership with commercial real estate investor and developer ConvergenCE, Akadémia Business Center in Budapest. The acquisition has been completed on behalf of Europa Capital’s latest value add fund, Europa Fund VI. Located on the banks of the river Danube, on the corner of Akadémia and Arany János Street, this c. 12,500 square metres building sits within a lively and sophisticated neighbourhood which serves as the city’s...

The partnership between Norges Bank Investment Management and Prologis has acquired a portfolio of 14 logistics properties in the UK. The agreement was signed on 29 November 2021, and the transaction was completed on 3 December 2021. Norges Bank Investment Management paid GBP220 million for its 50 percent ownership interest. The portfolio is unencumbered by debt, and no financing was involved in the transaction. The seller of the portfolio is Prologis UK Logistics Venture, a joint venture between Prologis and...