Industry News

Global real estate player Tishman Speyer has acquired Q207 at Friedrichstrasse 76-78, a landmark commercial property in central Berlin, from Allianz Real Estate, acting on behalf of several Allianz group companies. Financial details were not disclosed. The transaction was undertaken on behalf of Tishman Speyer’s TSEV VIII value-added fund and co-investment partners. The property in Berlin Mitte, known locally as Galeries Lafayette, occupies almost an entire block between Friedrichstrasse and Französischer Strasse. It is in close proximity to Q205 that...

Legal & General, on behalf of its LGIM Real Assets managed fund, has inked five deals totalling GBP150 million (EUR177 million) across the UK, in a range of asset classes. The mixed portfolio, including properties in the office, retail, leisure and industrial sectors, totals some 600,000 ft2 (55,750 m2). The acqusitions bring the total value of the fund to over GBP3 billion, and come off the back of increased flows into the fund. The purchase of 20,821 ft2 of offices...

AEW’s open-ended pan-European core fund has raised an additional EUR110 million from new and existing investors. The Eurocore fund has now reached EUR520 million since its EUR410 million first close in January last year. As previously reported, the Eurocore fund attracted Dutch investor Pensioenfonds Metaal en Techniek, a Swiss public pension, and a number of insurers, pension funds, family offices and corporates from France, Germany and Japan. The manager said the fund has so far invested EUR427 million across a...

AEW announces the appointment of Tim Sankey as Head of Separate Accounts in London. Tim has responsibility for managing the London office’s European separate account mandates on behalf of a number of international clients. Tim will lead AEW’s dedicated separate accounts team in London, which is focused on supporting clients in building large real estate investment portfolios across the UK and Europe. Tim has over 25 years’ experience within the real estate sector. Prior to joining AEW, he was Head...

Logicentres has made another key appointment. Its latest arrival is Mikael Hillsten who takes on the role of Manager Operation Development for Logicentres in Sweden. Mikael has extensive experience of business development within construction and property development companies, with his most recent post as Chief Operating Officer at the Wästbygg Group. The logistics property company is continuing to strengthen its position in the Nordic region with a key new appointment. Mikael Hillsten has joined the company in Sweden as Development...

Europa Capital, the pan-European real estate investment manager, announces the promotion of Lynn Smith to the newly created role of Head of Sustainability & Development, formalising the business’s approach and commitment to ESG and ahead of a number of new environmental and social initiatives. Based in London, Lynn will be responsible for creating a holistic and comprehensive approach that ties together and builds on Europa Capital’s existing ESG achievements. As part of the role, Lynn will also focus on maintaining...

The seventh fund in PGIM Real Estate’s European flagship high yield debt fund series, PGIM Real Estate Capital VII (PRECap VII), has closed on EUR1.82 billion (GBP1.53 billion/USD2.07 billion), the largest European real estate debt fund closed in 20211. PGIM Real Estate is the real estate investment and financing business of PGIM, the USUSD1.5 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). PGIM Real Estate’s European debt platform provides alternative financing, including senior debt, whole loans and...

Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that Philip Moore, Alessandro Luca and Anisa Dudhia have joined Ares to expand its real estate debt presence in Europe. These additions reflect a natural evolution of the Ares Real Estate Group’s 25-year track record in European real estate equity investing and its 10-year track record in U.S. real estate debt. The team expects to continue adding additional professionals in the near-term. The team focuses on originating and managing commercial real estate...

M&G to channel major investment into building energy efficient homes which are climate positive in both construction and operation M&G plc has acquired a majority stake in sustainable housebuilder Greencore Construction (“Greencore”), on behalf of policyholders in its GBP143 billion Prudential With Profits Fund. The investment will help Greencore to significantly expand its capacity and increase its impact across the UK. M&G also plans to invest up to half a billion pounds over the next three to five years in...