Industry News

UBS Asset Management's (UBS-AM) Real Estate & Private Markets (REPM) business has acquired two predominantly public sector-tenanted office properties in the German cities of Hamburg and Wiesbaden for a combined price of approximately €50 million. The two properties were acquired off-market and in separate transactions on behalf of clients of UBS-AM. The Hamburg asset is centrally located in the heart of Hamburg’s City Süd district. The seven-story property, named ‘Südetagen’, comprises 10,055 sq m of lettable floor space along with...

Coima funds have acquired seven properties in Milan from Italian banking group UBI Banca as part of a deal that is understood to be worth €1 billion. As previously reported, Coima has been developing the Gioia 22 office tower with funding from the Abu Dhabi Investment Authority. The Gioia 22 building which is expected to be completed by 2021 has been leased to the bank on a 15-year lease. Coima said UBI has also agreed to buy the Porta Nuova...

Nuveen Real Estate’s European Cities platform has marked its entry into the Austrian market with the acquisition of a €65m asset from Segro. UK real estate investment trust Segro said it has exited the Austrian market as a result of the disposal of the City Park Vienna asset. The warehouse and industrial properties investment firm said it has sold the recently developed urban warehouse park and development land for €65 million, in line with the group’s strategy. The warehouses total...

Nuveen Real Estate’s European logistics platform has added €215 million worth of Dutch assets to its portfolio. The investment manager said the three core logistics assets acquired in The Netherlands adds to the nearly €250m already invested in European logistics this year The latest acquired assets include a 48,000sqm warehouse near Rotterdam, a 100,000sqm, two-phase, industrial development in Eindhoven and a 62,000sqm asset in Zaltbommel. Thorsten Kiel, head of European logistics for Nuveen Real Estate, said: “These acquisitions add to...

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe, acting on behalf of clients, announces that it has launched the construction of The Mark, its flagship new office development in Munich, Germany. FOM Real Estate GmbH Heidelberg has been mandated as delegated development partner, with delivery expected in 2022. The MARK will offer c.55,000 sqm of office space spread across...