Industry News

M&G Real Estate has launched a European property strategy that has attracted significant backing from MN of the Netherlands and an internal fund client. The M&G European Living Property Fund is a European expansion of its €1.5 billion UK Living strategy. In a statement, the company said it aimed to provide institutional investors with ‘attractive risk adjusted returns’ through investment into Europe’s residential sectors – student housing, single and multifamily housing and retirement living. In a major success, the investment...

Invesco Real Estate and Henley Investment Management have joined forces to acquire a prime office building in the heart of Amsterdam. The asset was acquired on behalf of Invesco’s European value-add strategy and funds managed by Henley for a price reported to be around €30 million. The 5.270 sqm office building located at Rembrandtplein in the historic city centre, was sold by funds managed by Abrdn. The building, marketed as Vector House, is currently fully let to the single tenant...

Klimavest, the renewable energy-focused impact fund launched by Commerz Real two years ago, has reached a volume of €1 billion. The fund's portfolio currently comprises 33 operational wind farms and solar parks, as well as 10 solar park project developments in Germany, France, Spain, Finland and Sweden. Klimavest is a European Long-term Investment Fund (ELTIF) and plans to develop a broad-based portfolio of sustainable infrastructure and plants for renewable energy generation. In the medium term the open-ended fund is targeting...

European real estate investment manager Tristan Capital Partners has completed the capital raising for its latest value add/opportunistic fund series, with equity commitments from investors totalling around €2 billion. European Property Investors Special Opportunities 6 (Episo 6) was fully subscribed with a total of more than 20 investors including both existing and new clients. Clients are predominantly from the pensions, family office and foundations, insurance, and sovereign funds sectors. Around 55% of Episo 6 clients are from Europe, Asia, and...

Ivanhoé Cambridge has announced the acquisition of its first last-mile logistics facility in Munich, Germany, with his partner URBZ Capital, an investment and asset management boutique. Located in Karlsfeld, in the immediate vicinity of Munich, this prime last-mile logistics asset comprises a total surface area of 12.570 sqm, with approximately 4.500 sqm of extension potential, located on a freehold site area of 23.800 sqm. The property benefits from a strategic location nearby the city center of Munich. Post renovation, the...

Patron Capital, the pan-European institutional investor focused on property-backed investments, together with Bluestone, the Milan-based real estate developer and Freo Group, has acquired a development site in the south east of Milan, with plans to deliver an 18,000 sqm complex of 200 apartments. Located in Via Salomone 77, the project is on the site of an abandoned building that was formerly occupied by the Ricordi publishing company and has a gross development value of €75 million. It will include garages...

Global real estate investor Quadreal has acquired an interest in real estate development lending platform Précis Capital Partners, inking a commitment to deploy up to €1.1 billion into its development loans. TowerBrook, Précis Capital’s founding institutional shareholder, retains a significant shareholding. Précis Capital is concurrently rebranding as Precede Capital Partners. Since its launch in March 2021, Precede Capital (then Précis Capital) has originated and arranged loans totalling £1.5 billion to finance the construction of residential properties in the UK. This...

Manuel Hein has been appointed associate director, head of sustainable asset strategy at the German real estate fund manager. He was previously senior technical asset manager in the company’s investment and asset management division. In the newly created position, Hein is responsible for the operational implementation of the sustainability optimisation measures at the property level. Source: realassets.ipe.com on the 15th of December 2022 https://realassets.ipe.com/news/people-moves-cromwell-property-appoints-head-of-esg/10063948.article

The real estate fund manager has appointed Lara Young as head of ESG. Young is currently the chair of the Carbon Champion Review Panel, which is convened by the Institution of Civil Engineers. She also worked as the climate change director at Costain where she helped establish and implement its climate change action plan. Source: realassets.ipe.com on the 15th of December 2022 https://realassets.ipe.com/news/people-moves-cromwell-property-appoints-head-of-esg/10063948.article