Industry News

Alma Property Partners has raised €255 million of equity capital for Alma Property Partners II, the firm’s second pan-Nordic opportunistic real estate fund, exceeding the target of €250 million. Alma’s second real estate fund focuses on commercial and residential property investments in Sweden, Finland, Denmark and Norway. The investors are mainly institutions from Sweden, Germany, Belgium and the United Kingdom. The fund has an investment capacity of more than €600 million. “Reaching the target for Fund II is a major...

An unnamed German insurer has committed €115 million to the Altera Retail Fund, bringing the total amount raised by the vehicle in 2019 to €225 million. Jaap van der Bijl, CEO Altera, says: “We are delighted to welcoming a second well-established German institutional investor within a few months’ time. This demonstrates the international appreciation of the Food and Convenience Retail strategy of Altera. We are convinced our international shareholder base will broaden further as we continue to demonstrate our ability...

A value-add fund managed by CBRE Global Investors has joined forces with CR Investment Management to develop apartment assets in Germany. CBRE Europe Value Partners 2 (EVP2) has partnered with CR, which has an established partnership with apartments firm Stayery, to pursue a serviced apartment development strategy. The joint venture will progress the planned growth of Stayery. CBRE said the project developments will be concentrated on cities with major employer clusters, or underdeveloped hotel markets, adding that there will be...

BMO Real Estate Partners (BMO REP) has raised €250m for its latest high street retail property fund. The manager said the Best Value Europe II (BVE II) fund – which plans to raise €600m – currently has a total of eight investments worth €233m. Like its predecessor, BVE II focuses on prime high street retail properties within top tier or dominant European cities that benefit from strong tourism, high footfall and deep international retailer markets. The manager said the most...

The global head of Lendlease, an international property and infrastructure business, headquartered in Sydney, but with an £18.8bn development pipeline of work within Europe, has called for an end to what he has described as an often unhealthy and politically charged approach to the regeneration of major cities. In a keynote speech to business leaders in London, Steve McCann called for change and said that his industry has a responsibility to leave a positive legacy for future generations. He described...