Industry News

German investment manager Union Investment Real Estate has returned to the Spanish office market with a deal in Barcelona for €65 mln. Building C of the Cornerstone ensemble in Barcelona was purchased from UBS Asset Management and will be added to the holdings of institutional open-ended mutual real estate fund UniInstitutional European Real Estate. Said Adam Irányi, head of investment management office at Union Investment: 'We have been closely monitoring the Spanish office property market over the past few years...

Aviva Investors, the global asset management business of Aviva, has acquired a hotel building currently under construction in the heart of Dublin, Ireland, on behalf of its European Real Estate Long Income (E-RELI) Fund. The property, which is scheduled for completion at the end of 2022, occupies a prominent corner site position within the Dublin 2 postcode. It has been pre-let to Premier Inn under a long-term lease. Located at the junction of Gloucester Street and Princes Street South, the...

Global real estate manager LaSalle Investment Management has acquired a prime new-build residential asset in Frederiksberg, Copenhagen, on behalf of its open-ended pan-European LaSalle E-Regi fund. The deal represents LaSalle E-Regi's first investment in a residential property in Copenhagen, exemplifying the Fund‘s appetite for best-in-class residential assets in Europe’s key cities. It follows the recent acquisition of ‘Lacus Quartier’ in Berlin, which provided a strategic foundation for further growth in the residential sector for the fund. Uwe Rempis, managing director...

Global investment firm KKR said on Friday that its European industrial and logistics platform known as Mirastar has agreed to sell three logistics assets in the Netherlands to Prologis for an undisclosed amount. The portfolio covers around 127,000 m2 of lettable floor area, with space let to five tenants. KKR’s original investment in this portfolio was made in 2020 through its second flagship European real estate fund, Real Estate Partners Europe II (REPE II). The portfolio is located across the...

Kingstone Real Estate has launched a €400 mln healthcare property investment fund in Germany with capital management company IntReal International Real Estate Kapitalverwaltungs-gesellschaft. Kingstone Living & Care I is an open-ended special alternative investment fund with fixed investment terms that may not be marketed to private investors. The first seed investment made by Kingstone Real Estate on behalf of the new fund is a nursing home acquired as part of an off-market transaction from GFS Bauträger- und Immobilienvermittlungs. Paul Muno...

Real estate investor and fund manager, Cromwell Property Group (Cromwell) announces the appointment of Andrew Creighton as Head of Investment Management Europe. Based in London, Andrew will join the European Management Team and report directly to Cromwell’s Managing Director in Europe, Pertti Vanhanen. In this role, he will be responsible for all aspects of Cromwell’s investment, fund and asset execution and management activity across Europe. Andrew joins Cromwell following ten years at abrdn where he held several senior leadership roles...

Europa Capital, the pan-European real estate investment manager, has appointed Russell Chaplin to the newly created role of chief investment officer. According to the firm, the new executive position reflects the growth and increasing scale of the firm's investment platform. Chaplin brings a wealth of experience having held the position of CIO at Aberdeen Asset Management between 2010 and 2018, as well as strategic roles at UBS Global Asset Management and Henderson Global Investors. He has spent the past three...

Privately-held investment firm Cain International has appointed John Spillane and Robert van Vliet to bolster its European real estate equity team. With more than a decade’s experience in private equity real estate and asset management in London and the US, Spillane joins from Orion Capital Managers and will be vice president for portfolio management at Cain. Prior to his former role at Orion Capital Managers, Spillane worked for Rockspring Property Investment Managers and at a CMBS loan servicer in the...

BNP Paribas Real Estate (BNPPRE) announced on Thursday that Stephanie McMahon will be stepping into the newly created role head of strategy, with Vanessa Hale taking up the position of head of Research and Insights. McMahon becomes head of Strategy role following a 10-year career at BNPPRE and Strutt & Parker, where she has built a market-leading research team, together with Hale. Prior to this she was head of UK Research at JLL. In her new role, she will have...