Industry News

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) Belgium, on behalf of Healthcare Property Fund Europe (HPF Europe), has acquired a five-asset healthcare portfolio from Baltisse Real Estate. The deal was achieved by acquiring all the shares of Wombat nv, Residentie De Vlamme nv, Zorgcampus Maasmechelen nv, Anima Vera nv and De Wandelgang nv, each holding a healthcare property in Flanders, Belgium. Four of the properties are located close or within the triangle of three major cities and urban...

KKR’s Americas opportunistic equity real estate fund has sold four self-storage properties for €74.3 million. The KKR Real Estate Partners Americas III fund has sold two properties in Austin, Texas, and an asset each in Phoenix, Arizona and Riverside, California in two separate deals to unnamed buyers. Global investment firm KKR said the assets sold by its fund total 2,897 units. Source: realassets.ipe.com on the 7th March https://realassets.ipe.com/news/kkrs-opportunistic-real-estate-fund-sells-four-us-self-storage-assets-for-80m/10065469.article

UK property developer SevenCapital and real estate investment firm MARK have secured a €293 million loan from Maslow Capital to help develop a residential-led project in West London. The SevenCapital and MARK partnership will use the four-year development loan from the property lender to fund the 100 West Cromwell Road project, a 462-home scheme in Kensington with over 12,000 square feet commercial space and 24,596 square feet of community and leisure facilities. Ardmore Construction has been appointed as the main...

Valor Real Estate Partners, has completed a €54 million debt facility with Nuveen Real Estate. The 5-year, 65% Loan-to-Cost facility comprises a €33.8 million refinancing tranche and €19.7 million capital expenditure tranche, to support repositioning activity across three assets. It represents the first transaction between the two parties. The loan is secured against three urban, infill logistics properties, all located in submarkets of Berlin, a market characterised by an acute shortage of high-specification distribution space. Source: realassets.ipe.com on the 8th...

TPG’s global impact investing platform has supported technology-enabled clean-energy platform Palmetto with a €139 million investment. TPG Rise, which is investing through its climate-investing strategy, has backed Palmetto to help expand the company’s software and technology platform. Palmetto manages the end-to-end residential solar process with an operating platform that handles sales, design, engineering, permitting and fulfillment in the US. Source: realassets.ipe.com on the 6th of March https://realassets.ipe.com/news/tpg-rises-climate-investing-strategy-backs-palmetto-with-150m/10065457.article

ECE has never before developed a hotel asset in Italy, but there is a first time for everything. The Germany-based company, best known for retail property, is working on a listed office building in the middle of Rome, which will become a Ruby Hotel with 165 rooms. The €60 million development is being orchestrated under ECE’s “Work & Live” unit as the company said it was expanding development activities in the hospitality asset class to international markets as well as...

DTZ Investors has completed on the purchase of Purley Cross Retail Park in Croydon for €66.3m from Oval Real Estate. The property is a prime retail park comprising 126,410 feet squarred of lettable floorspace across five units which occupy an 8.6-acre site. The scheme is fully-let with a WAULT of 11.9 years to break and 12 years to expiry. Further income is derived from existing PV and EV infrastructure and there is a 61% income exposure to indexed rent reviews...

Edmond de Rothschild Real Estate Investment Management (EdR REIM) has significantly exceeded the €300 million of investor capital it set itself as a target for its new panEuropean real estate debt platform. Not only has it raised more than €170 million for its pan-European High Yield Real Estate Debt Fund I upon final close in December 2022, but has a further €180 million via a separate fund dedicated to one German institutional investor taking the total capital raised for its...

Amundi, the European asset manager, is a quarter of the way towards its €600 million target for Amundi Commercial Real Estate Loans II (ACREL II), the second vintage of its senior European real estate lending fund. So far, the company has raised €150 million for the follow up to ACREL I, which raised €443 million from leading European institutional investors and built a diversified, portfolio. For the new vehicle, Amundo is investing in major economies of the euro zone, with...