Industry News

Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, has acquired a modern warehouse in Coventry from BlackRock’s UK Property Fund for £28.3 million (€32.9 million). The deal represents the first investment on behalf of Clarion Partners Europe’s core-plus, closed ended UK logistics fund, which last month achieved a final close with £427m of equity commitments. Located on Middlemarch Business Park, an established Golden Triangle distribution hub, the 208,000 square feet property is leased...

Schroders Capital’s renewables arm has set up a semi-liquid fund to make investing in renewable energy and energy transition infrastructure easier and more flexible for investors. Schroders Greencoat said it has launched the Schroders Capital Semi-Liquid Energy Transition Fund aimed at “boosting our clients’ access to both private assets solutions which offer new and diversifying return streams, as well as energy transition investment solutions”. The semi-liquid structure will enable Schroders Greencoat to invest in illiquid infrastructure assets with a long-term...

Aviva Investors, the global asset management business of Aviva, has acquired Leicester Distribution Park (LEDP), an industrial and logistics asset spanning more than 713,500 square feet (66,300 square metres). Financial details were not disclosed. The eight-unit scheme is fully-let and was developed in three phases between 2017 and 2022. Aligning with Aviva Investors’ focus on sustainability, LEDP benefits from strong ESG credentials. Seven of the eight units have been given an EPC A rating, with the final unit currently under...

AXA IM Alts is making its first investment in the UK film and television studios sector with the acquisition of the BBC Elstree Centre in London. The global manager, investing on behalf of clients, has agreed to acquire the 16-acre campus in northwest London in a deal that involves the BBC leasing back part of the studio campus for 25 years. IPE Real Assets understands that the BBC Elstree Centre in Borehamwood was sold for around £70 million (€81.3 million)...

Catella has finalized its debut transaction in the Benelux market, a sale and leaseback deal for an office and industrial asset in Zoetermeer, near The Hague. The deal was executed through French SCPI real estate fund Upeka. The investment was completed at a net initial yield of 7.8% on a seven-year lease. The firm said that the deal stemmed from Catella’s acquisition of a majority stake in France’s €1.4 billion AUM Aquila Group last year. Catella Investment Management Benelux (CIMB)...

Savills Italy has introduced a new managerial role within the company, appointing Alberto Albertazzi as head of retail management. Albertazzi is charged with coordinating the property management retail and leasing out-of-town business areas. Bringing extensive experience in commercial real estate, Albertazzi began his career in 1992 and has held positions of increasing responsibility in various companies, including Finiper, Expace Expansion Italia - Unibail Group, BNPP Reim Italia, Eurizon - Intesa San Paolo Group and Henderson Global Investors. From 2013 to...

Grosvenor and Generali Real Estate (the Generali Group asset management company specialized in real estate investments) have today announced a new partnership to support residential developers with debt financing. Building on Generali Real Estate’s experience of financing real estate projects and Grosvenor’s experience as a developer and knowledge of the UK housing market, the partnership has been seeded with an initial £50m from each organisation and will be characterized by a ‘pari-passu’ co-investment strategy. Generali Real Estate and Grosvenor will...

Aviva Investors, the global asset management business of Aviva plc, announces it has completed a private placement which sees it provide £50 million in funding to Hightown Housing Association (“Hightown”), which owns and manages more than 8,700 homes and care and supported housing projects across Hertfordshire, Buckinghamshire, and Berkshire. The investment will help Hightown continue its delivery of new, energy-efficient, and affordable housing across the region. The Association is currently aiming to provide more than 1,000 new homes over the...

Providing c. £650 million of investment firepower, core-plus strategy will seek to achieve high sustainability credentials and leverage management’s 24-year sector track record. Clarion Partners Europe, the real estate investment fund manager specialising in logistics and industrial assets, announces that it has held the final closing of its core-plus, closed-end UK logistics fund (“Fund”). Exceeding its capital-raising target, equity commitments totaling £427 million have been secured from a mix of European, North American, and Asian institutions, including investors in Clarion...