Industry News

Schroder European Real Estate Investment Trust Plc has acquired, via a sale and leaseback, a freehold industrial warehouse in Alkmaar, the Netherlands, for approximately €11 million, reflecting a net initial yield of 5.6%. The 9,115 squared metres property is fully let to W.A. Schuurman Beheer B.V., an electrical engineering and renewable energy specialist that has been in operation for over 100 years and serves as its headquarters and as its key distribution hub. The 20 year triple net lease, with...

Catella Wohnen Europa has acquired 67 affordable apartments, extending over almost 6,000 sqm, in eight energy-efficient wood-hybrid buildings in Pankow, Berlin’s most populous district located in the northeast of the city. The Falkenquartier development properties were purchased from property developer Falkowski Group and are due to be completed by Q4 2024. The properties are being built on a 6,850 squared metres plot using an innovative ‘zero-waste’ timber hybrid construction method where an exact quantity of raw material is sourced from...

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) Germany has acquired the 4Urban logistics portfolio in Austria from Frasers Property Industrial on behalf of the fund European Impact Property Fund (EIPF). The real estate portfolio comprises four logistic and warehousing assets for a total surface area of 71,000 square metres. It includes one asset located in the 11th district of Vienna City, two assets at the Vienna international airport and one within the business and commercial agglomeration of Messendorf...

Genesta sells the office property Svea Artilleri in central Stockholm on behalf of its fund GNRE Fund II. The approximately 13,300 sqm building on Lojtnantsgatan 17-25 was acquired in May 2018 and the property has since undergone extensive renovation and expanded with 700 sqm. The renovation plan has been developed in conformance with Genesta’s sustainability strategy of transforming assets from “brown to green”. It includes, among other things, a full replacement of the mechanical ventilation and cooling systems. The transformation...

Principal Asset Management has acquired a fourth asset for Log In, a SCPI dedicated to European industrial real estate, marking its entry into the Italian market. Financial details were not disclosed. The 10,000 m2 asset is located in Como, on the Rhine-Alps logistics corridor. It is let to pan-European automotive parts manufacturer, Dana Group, which has six years to run on the lease which was renewed in 2022. The property was developed in 2003 and renovated in 2019. The pan-European...

PFO, a fund managed by French asset manager Perial Asset Management, has acquired the Dolce Sitges Barcelona hotel for an undisclosed amount. Located on top of a hill which provides great views overlooking Sitges and the Mediterranean Sea, the 5-star hotel benefits from 263 guestroom, 3 restaurants, 2 bars, 23 meeting rooms, 4 outdoor pools, spa, gym and 215 parking spaces. The asset, which is strategically located in one of the most important tourist spots in Spain, was sold by...

Schroders Capital’s hotels team, private equity specialist ExtendAM, and family office Cèdre have finalised the sale of the Hotel Eiffel Blomet Paris to Financière M.P. Landowski for an undisclosed amount. The Eiffel Blomet is a four-star boutique hotel with 87 rooms, located in the 15th arrondissement of Paris, comprising a wellness area which includes a swimming pool. The hotel opened its doors in June 2017, after repositioning work was undertaken by architects Vincent Bastie and Bruno Borrione. The hotel was...

M7 Real Estate, the pan-European investor and asset manager specialising in multi-tenanted properties, announces that Richard Croft has made the decision to step down from his role as executive chairman of M7. David Ebbrell, CEO and one of the founders of the business with Croft, will take over full responsibility for the management of the company, supported by the remaining six members of the M7 leadership team, which includes five co-founders. Richard’s departure comes two years after M7 was acquired...

CBRE Investment Management (CBRE IM) has appointed Kerron Lezama as a senior director in the Private Infrastructure team. Reporting to the head of Europe Private Infrastructure, Andreas Köttering, he will be instrumental in overseeing the team in unlocking global investment opportunities. Lezama joins from Ontario Teachers’ Pension Plan, where he was managing director in the Infrastructure and Natural Resources team, responsible for origination and asset management of infrastructure investments across EMEA, with a focus on regulated and unregulated utilities and...