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GARBE Institutional Capital acquires “The Lab” in Berlin for its science & technology real estate fund

GARBE Institutional Capital has acquired “The Lab” in Berlin for the GARBE Science and Technology Real Estate Fund 1 (GARBE STREF#1). The fund was launched together with the capital management company (KVG) INTREAL and is structured as a club deal of institutional investors. Through this asset acquisition, GARBE Institutional Capital has secured for its fund investors a property under long-term lease to a tenant with a strong credit rating in the Adlershof Technology Park, an established innovation cluster in the southeast of Berlin. The site offers further development potential.

La Française snaps up first life science property in Germany

La Française Real Estate Managers said on Thursday that it has acquired its first life science property in Germany from a closed-end net lease fund advised by Crescendo Real Estate Advisors.

The property, which was bought on behalf of one of La Francaise’s real estate investment vehicles, is located in the Eurocom Business Park, southeast of Nuremberg. 

Coima and Red Circle to develop €200 million fashion hub in Milan

Italian real estate fund manager Coima SGR has teamed up with real estate company Red Circle to develop a fashion hub next to Milan’s Porta Romana railway yard.

Coima said it has agreed the partnership with Renzo Rosso’s real property company to transform the former industrial site on Via Lorenzini into a 20,000 square meters fashion hub.
According to sources, Red Circle and Coima will invest equally in the €200 million project.
Coima acquired ownership of the Via Lorenzini complex in 2019 through the Coima Opportunity Fund II.

Catella European Residential III acquires 134 affordable apartments in Dutch city of Zoetermeer for €55 million

Catella European Residential III Fund (CER III) has acquired a residential development project in Zoetermeer, near The Hague for €55 million through a forward-funding transaction. The new-built high-rise in Zoetermeer city centre will offer 134 spacious apartments primarily targeting the substantially underserved affordable mid-range rental sector.

Niam acquires retail park Solåsen Handel

Niam has acquired Solåsen Handel, a modern and well-functioning retail park located in an established micro location in Jönköping, Sweden. The retail park consists of three properties and ~36,000 sqm lettable area with 22 tenants, the largest being K-Rauta, Leos lekland, XXL, MediaMarkt and Rusta. Additionally, a new store for Dollarstore is currently being constructed. The seller is Genesta.

KGAL acquires fully-let property in the heart of Rotterdam

KGAL Investment Management GmbH & Co. KG has acquired the fully-leased 9,200 sqm office property Westerlaan 10 (W10) on behalf of a pan-European fund. The property, which is located in the city centre and has a high-quality interior, has been the corporate headquarters of Vopak for many years. The internationally active, listed group extended its lease for 15 years in 2020.

Commerz Real acquires a 25% stake in the Elbtower for HausInvest

Commerz Real has acquired a 25% stake in the Elbtower high-rise development by SIGNA Real Estate in Hamburg's HafenCity district for its open-ended real estate fund Hausinvest. Construction of the mixed-use high-rise building at Elbbrücken, designed by David Chipperfield Architects, is scheduled to start in early 2023 and to be completed by the end of 2025. The pit is currently being excavated.

Catella acquires €65m Dutch office tower for residential project

Catella Residential Investment Management’s (CRIM) open-ended pan-European fund has bought a Dutch office tower to redevelop for residential use.
The Catella European Residential III Fund (CER III) has acquired the Ceylonpoort office tower in Haarlem, near Amsterdam, for €65m. The former office of publisher VNU was acquired from developer Wedda.

The redevelopment of the tower, which is scheduled for completion in mid-2024, will accommodate 162 apartments, 536sqm commercial space, and a three-level parking garage for residents.