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Ares Management bags €300 million French industrial portfolio from Blackstone

Global alternative investment manager Ares Management Corporation has emerged as the buyer of a portfolio of nine industrial assets located along France’s main logistics corridor, the French Dorsal Axis, from funds managed by Blackstone. The €300 million+ portfolio comprises approximately 360,000 square metres of logistics space in France’s prime logistics markets, including Paris, Lyon and Marseille. The portfolio is fully leased to a diversified set of national and international blue-chip tenants. Additionally, the properties reflect grade A specifications and a...

abrdn Property sold two business parks for €15.44 million

abrdn Property Income Trust Ltd , has sold two of its assets for a total price of €15.44 million. The sale was completed on April 17, 2024, and the buyer's identity remains undisclosed. The sale included Monkton Business Park in Hebburn and King's Business Park in Bristol. The Monkton Business Park was sold for €6.2 million, which is a 6% premium, and the King's Business Park was sold for €9.24 million, a 1.25% discount from the December valuation. The sale...

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Appointment of Marc Noel as Chief Compliance Officer

Marc Noel started his career at Societe Generale in 2002 as legal advisor in charge of international litigations. He then joined the investment banking division of the French Banking Federation in 2005. Back in Societe Generale’s Group in 2007, Marc took the role of Legal Manager in charge of ETF & partnerships at Lyxor Asset Management, then became General Counsel of Lyxor. Marc joined Amundi in 2022 as Deputy General Counsel, in charge of supervising the group's products and market...

Redevco and former redos founder Oliver Herrmann launch Redevco Capital Partners to target European special situations real estate opportunities

Redevco capital Partners is set up in partnership with Oliver Herrmann, founder of redos, German large-scale retail specialist acquired by Redevco in 2022 and now fully integrated in Redevco. The London based, specialist Redevco Capital Partners team and its new Managing Director Mark Beaumont will be leveraging Redevco’s pan European platform of eight offices and circa 270 real estate professionals to invest across multiple asset classes in select European markets alongside strategic capital partners. This business initiative broadens Redevco’s risk-return...

AEW’s UK core-plus property fund acquires Northgate House in Reading

Asset manager AEW has acquired a 66,000 square feet town centre office building in Reading on behalf of its UK core-plus property fund. The manager’s AEW UK Core Plus Property Fund has invested £8 million (€9.4 million) to buy Northgate House on Valpy Street from a private property company. The office building is occupied by a government department. The acquisition forms part of AEW’s strategic site assembly, adding to its existing ownership of Tangent House and a public house to...

Savills adds to flexible office platform with Situu acquisition

International real estate advisor Savills has expanded its flexible office specialist Workthere with the acquisition of flexible advisory business, Situu. Established in 2019 by its four co-founders: Dan Brown; Tom Leahy; Peter Hall and Harry Murphy, Situu is now a 10-strong London based agency who specialise in the delivery and marketing of managed office space on behalf of landlords. In addition, the firm secures serviced, managed and leased space for occupiers and serviced office operators across the capital. At Savills...