Industry News

Union Investment’s commercial property funds continued to prove their worth as solid investments in the first half of 2024. Despite a challenging market backdrop, open-ended real estate funds Unilmmo: Global and UniImmo: Deutschland paid out healthy distributions to their investors that were around 11 per cent up on the previous year. In mid-June, the distribution from UniImmo: Global was EUR 1.00 per unit, while the distribution made by UniImmo: Deutschland was EUR 1.90 per unit. UniImmo: Europa, which makes distributions...

AXA IM Alts, a global leader in alternative investments with €184 billion of assets under management, acting on behalf of clients, and Sierra, a multinational fully vertically integrated real estate player, announce the creation of a Joint Venture for the development of a state-of-the-art office building that will be located on top of the Centro Colombo shopping centre in Lisbon. The c. 35,000 sqm office scheme will be the third office building to be added to the 173,000 sqm Colombo...

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the opening of a new retail park in Jastrzębie Zdrój, a city of 90,000 inhabitants in southern Poland. Developed in partnership with Karuzela Holding and owned in joint-venture with the FRI 2 fund, this latest opening is the third retail park development opened in Poland by Mitiska REIM and Karuzela Holding in the past nine months. Conveniently located near the city center and close to both...

Stichting Pensioenfonds voor de Woningcorporaties (SPW), (Dutch pension fund for housing corporations) has appointed a.s.r. real assets investment partners as real estate oversight manager. a.s.r. real assets investment partners will, in that capacity, transform the existing real estate portfolio on behalf of SPW into a predominantly European unlisted portfolio, and ultimately manage it actively. SPW’s new portfolio will have a size of at least € 1 billion with a firm focus on Dutch residential properties, while also allowing for global...

Edmond de Rothschild Real Estate Investment Management (REIM) has completed the Lace Market Quarter build-to-rent development in Nottingham for its UK residential investment platform. Located at 10 Short Hill, the development is a partial refurbishment of Grade II-listed buildings and a partial new build. It provides 117 studio, one and two-bed apartments for rent across four adjacent blocks, linked by a central, communal landscaped courtyard. The unit mix along with 27 lower ground parking spaces meets the strong demand in...

Leading Nordic real estate investor Nrep has announced the construction of a six-storey timber residential building in Nordhavn (North Harbour), Copenhagen’s new sustainable harbourside city district. The 13,100 sq m development will have the lowest ever carbon emissions for a building over four floors in Denmark due to its wooden construction. Denmark has a long history of sustainable architecture and green construction practices. The country has just passed new legislation that further tightens the level of CO2 that is permitted...

Catella Real Estate AG (CREAG), in cooperation with Catella Investment Management Benelux (CIMB), is acquiring a sustainable logistics property in the Treeport business centre in Rijsbergen, south of the Dutch city of Breda, for the special AIF "Catella Logistik Deutschland Plus" (CLD+). The seller is Poppelaars Properties. Tierra Outdoor is a tenant in the property. The other rental units are leased to the 3PL companies Oostvogels Logistics (part of the Neele-Vat Group) and Kennis Transport & Logistics. Source: https://europe-re.com/catella-acquires-sustainable-logistics-property-in-breda-nl/73103 on...

European privately-owned real estate manager Redevco has appointed Veronica Gallo-Alvarez as head of Investment Management, effective July. Based in Paris and reporting to CEO Neil Slater, Gallo-Alvarez will be responsible for investment outcomes, transaction management and research & strategy. Gallo-Alvarez is to join Redevco in July from global asset manager abrdn, where she was head of Core European Funds responsible for multi-sector strategies investing in commercial pan-European real estate. Source: propertyeu.info on the 13th of June https://propertyeu.info/Nieuws/Redevco-hires-abrdn-exec-to-lead-investment-management-business/abe4245c-4012-498d-9af0-93fdfa276c95

The Catella European Residential III fund (CER III) has acquired a 177-unit fully rented student housing asset in Leipzig, in the eastern German state of Saxony for around €23 million from the Family Office Drengenberg. The acquisition of the 3,520 square meters asset takes CER III’s total assets under management to €800 million. The fund is managed by Berlin-based Catella Residential Investment Management (CRIM). The asset is located in a lively diverse neighbourhood populated by students, artists and sub-cultures with...