Industry News

Barings has sold two logistics assets near in Italy to real estate manager Kryalos SGR for an undisclosed amount. Barings said the fully-let warehouses, located in Cavenago and Cambiago, were sold through an Italian real estate fund managed by Savills IM. Barings acquired both warehouses in 2019, as part of a core strategy on behalf of a separate account for Asian clients. Marco Corti, managing director and Italian country head at Barings Real Estate, said: “Having executed our business plan...

Invesco’s global real estate investment business has acquired a major residential development in the capital city of the Czech Republic. Invesco Real Estate has bought the Hagibor residential development in Prague in a forward funding deal on behalf of its European Living Fund. The development will consist of 168 apartments in three buildings with a total area of 14,600sqm, including 420sqm of lettable commercial space. The deal is Invesco’s sixth acquisition for its European Living Fund, which launched end of...

Hines has raised an initial €900m for its latest value-add European real estate fund. The manager said the Hines European Value Fund 3 (HEVF 3), which seeks to raise €1.5bn, was backed by a group of 15 investors, predominantly existing investors in the series. Hines said it expects to make further closings through the year, and into early 2023 as required. The manager said it expects the European investor group in this first closing to be joined by new and...

PGIM Real Estate said today it has formed an investment partnership with Cairn Group’s newly formed division to take advantage of a recovery in the UK hotel sector. PGIM Real Estate, investing on behalf of a value-add strategy, has teamed up with Madison Cairn with a plan to acquire, develop and reposition hotels. The manager said the venture, which has already secured a strong pipeline of activity, has made its first investment in Brighton. Charles Crowe, managing director and head...

BNP Paribas Real Estate (BNPPRE) today announced that Andrew Screen has been appointed as Head of Residential Capital Markets. Screen joins BNPPRE from Cortland where he headed up investment in Europe for almost four years. Prior to this, he has held senior roles at ReSI Capital Management, CBRE and GVA. Highly regarded for his deal making successes as well as an expert Build to Rent commentator, regular speaker, chair and moderator at conferences across Europe, he will lead the team...

Andy Mercer has joined Colliers to lead the ongoing development and implementation of a market-leading ESG strategy for the firm’s property management clients in the UK and across Europe, the Middle East and Africa (EMEA). Andy has a strong track record in the industry, joining from JLL where he was Head of Energy Services. At Colliers, he will be Head of ESG for the UK and EMEA within the Property Management team working with Andy Hay, Managing Director of Property...

Schroders Capital – Matthew Baddeley has joined as a retail investment and asset management specialist in the Manchester real estate team. Baddeley joins this newly-created role at Schroders Capital from RDI REIT and brings 15 years of asset management experience across all sectors, with a most recent focus on retail warehousing and shopping centres. Baddeley has previously also worked at The Crown Estate and Savills. Charles Twist has joined as an office asset management specialist in the London real estate...

Lydia Dutton has been appointed director and regional sustainability lead, a new role at the property consultancy. Dutton will join the firm’s ESG consultancy team and will be based in Birmingham in the UK with a national remit. She will be responsible for driving CBRE’s environmental and sustainability agenda in the regions, providing external advisory service for clients. Dutton has worked for over 15 years in sustainable real estate. She also previously co-founded a circular economy tech startup. Dutton joins...

Heimstaden has appointed Amit Kumar as Head of UK Operations for the company’s growing portfolio of residential properties and to build its in-house management capabilities as the platform gains scale. Amit has spent the past 14 years managing operations for housing and hospitality businesses in the UK. He joins Heimstaden from Savills, where he was the General Manager of the 603-unit Allegro Living apartment complex, Birmingham’s largest. “Amit is a great addition to our expanding team in the UK. His...