Industry News

UBS Asset Management (UBS-AM) Real Estate & Private Markets has bought a GBP59.8 million (EUR69.6 million) student accommodation asset in Nottingham on behalf of its UK core real estate strategy. UBS-AM REPM said the property was purchased from Tosca Mill 1, backed by Toscafund via its investment in Mabec Property. Oliver Abram, portfolio manager at UBS-AM, said: “This transaction supports a key focus area for our UK core real estate strategy which is to target income accretive assets within the...

Hamburg/Ludwigsfelde, 16 March, 2022 – Garbe Industrial Real Estate GmbH is intensifying its commitment in the Berlin/Brandenburg metropolitan region. The Hamburg-based project developer has secured a 24,000 square metres plot in Ludwigsfelde (Teltow-Fläming district, Brandenburg). A multi-user property with a total area of around 12,000 square metres is to be built on it. The investment volume amounts to 16.5 million euros. The property is part of the former state-owned company “VEB Industriewerke Ludwigsfelde”. Until 1990, mainly trucks were produced there...

Schroders Capital has acquired the leasehold grounds located at the business park 'GDC Noord' in Eindhoven. The asset comprises over 500,000 square metres, divided over eight plots. Long-term leaseholds have been issued to companies with strong financial covenants resulting in a long-term secured inflation-linked income stream. GDC Noord is an important multi-use logistics site along the A2 highway in Eindhoven in direct vicinity of Eindhoven Airport offering easy access to Dutch main ports and the surrounding borders of Germany and...

Global real assets manager Patrizia is seeking to raise GBP75 million (EUR87.3 million) for its open-ended UK property fund. The manager said it has launched the fundraise for the Patrizia Hanover Property Unit Trust to finance a “capex programme delivering significant ESG-related improvements across the portfolio”. Patrizia, which expects to raise the capital from new and existing investors, said the money will be allocated across several major projects at some of the fund’s flagship assets. Hanover Property Unit Trust was...

The Rome Core I Fund, managed by Castello SGR, and whose units are indirectly controlled by the European Real Estate business unit at Investcorp, has acquired a property in Via Paolo di Dono, 44, in Rome, from Prelios SGR. The purchase price was not disclosed. The property, which is currently leased to an international organization belonging to the United Nations and features eight storeys above ground and two basements, consists of an entire, free-standing building for mono-tenant offices, consisting of...

Europa Capital is buying an 88-apartment senior living project in Denmark on behalf of its latest value add fund. The European real estate investment manager said it has agreed to buy Kanalgaden 3 in Copenhagen from Gefion Group in a forward funding deal on behalf of Europa Fund VI. Financial details were undisclosed. Located in Albertslund, Kanalgaden 3 is a former office building which is being refurbished into senior living accommodation and is expected to complete in January 2023. Jason...

(WARSAW) - Hines, the global real estate firm, and Kajima, the pan-European real assets business, have announced an agreement to pursue development projects in Poland in the private rental housing sector (PRS). The deal follows Kajima’s recent opening of a Warsaw office, led by Jan Trybulski, head of Poland at Kajima who said: “This project sees two global investors and developers joining forces in one of Europe’s fastest-growing economies. Poland has great fundamentals and a thriving PRS sector. We look...

18 March 2022, London: Tristan Capital Partners’ EPISO 5 Fund has strengthened its position in the Belgium office market with the acquisition of an office portfolio in Brussels consisting of five office buildings. The portfolio has been bought from Deka Immobiliën Investment GmBH. The assets deliver c. 20,000 square metres of workspace located in the city’s most prominent prime office area along the Pentagon at the crossroads of the European District and the City Centre. The portfolio is currently leased...

The world’s first ‘energy positive’ residential impact fund, which will invest a planned EUR500million in Elithis Towers, designed to produce more energy than the building and tenants consume, across cities in France, has been launched by Berlin-based Catella Residential Investment Management (CRIM). The towers, developed by French sustainable building engineering and real estate developer Elithis Groupe, deliver both operational carbon neutrality and effective affordable rents through the elimination of domestic energy bills, hence increasing each household’s annual purchasing power. The...