Industry News

German investment manager HIH Invest Real Estate has acquired a logistics property development in the Dutch town of Zwolle. Financial details were not disclosed. The acquisition took the form of an asset deal on behalf of HIH Deutschland+ Core Logistik Invest, an open-ended special AIF. The seller is Bouwbedrijf Aan de Stegge Twello. Construction work for the 23,009 square metres warehouse on Oldenburgstraat in the Hessenpoort trading estate is scheduled to start in March of this year and expected to...

Real estate investor Altera Vastgoed has received a commitment from a Dutch pension fund to invest €170 million into the Altera housing fund. Altera’s current residential portfolio consists of 5,762 homes, 70% of which are in the affordable rental category up to €1,200. Moreover, up to 7,000 new houses could be added in the coming years thanks to new construction projects, which include care homes in Leiden, single-family homes in Almere, and mid-market rental developments in Utrecht, Amsterdam, and Zaandam...

A joint venture of JP Morgan Asset Management and Sydneylisted Cromwell Property Group has sealed the acquisition of the fully leased Panattoni Park Hamburg from developer Panattoni and investor Kajima in a deal said to be worth just under €100 million. Panattoni delivered the asset in the fourth quarter of last year. Located to the north of Hamburg in one of the strongest economic regions in Germany, the park consists of five halls plus externally leased parking spaces totalling 80,163...

The Bouwinvest Healthcare Fund has acquired 108 assisted living units from Porten Houthavenkade, a joint venture between developers Porten Development and Ten Brinke. The apartments are part of the Houthavenkade project in Zaandam, approximately 15 kilometres to the north of Amsterdam, and are targeting seniors and other people with care requirements who wish to live independently. Almost three quarters of the homes will be offered in the mid-range rental segment. There is an acute shortage of suitable housing for people...

Edmond de Rothschild Real Estate Investment Management, the real estate platform of the Edmond de Rothschild Group, has secured a £30 million (€34 million) commitment from Strathclyde Pension Fund into Funding Affordable Homes, a UK affordable housing fund. Funding Affordable Homes invests in the UK affordable housing sector, with the objective of increasing the number of affordable homes, delivering positive social impact and providing progressive returns to its investors. The fund’s portfolio (valued at £133.9 million on 30 September 2022)...

GARBE Industrial Real Estate just acquired a light-industrial property on behalf of its logistics property fund, “GARBE Logistikimmobilien Fonds Plus II” (GLIF+II), within the framework of a sale-and-leaseback deal. The office and light manufacturing property, built in 1984 and expanded in 1993, is located on Oranienburger Strasse in Berlin’s borough of Reinickendorf. It was sold by a globally active automotive supplier who rented the property on a 15-year lease that includes a renewal option for another five years. The plot...

AM alpha acquires a mixed-use property in London with office, retail and leisure units. The building is located on Coleman Street, which runs parallel to Moorgate and in close proximity to the Bank of England. AM alpha, a global family office for real estate investments, acted on behalf of several investors who are represented by a pension fund manager from Hamburg. The asset was sold by the asset manager Abrdn plc. The parties have agreed not to disclose the purchase...

Paris-headquartered Primonial REIM’s CEO Juergen Fenk has announced his resignation from the post that he took up less than two years ago. In a statement the company said on Monday : “It is with regret that Primonial REIM has taken note of the resignation of Juergen Fenk from his mandate at Primonial REIM, to pursue other activities.” Fenk, who joined Primonial REIM as CEO on 1 March 2021, was responsible for setting up Primonial REIM’s European platform. Primonial REIM Holding...

CBRE Investment Management (“CBRE IM”) has appointed Jan-Willem Bastijn as Head of EMEA Transactions for Direct Real Estate Strategies. Jan-Willem will be responsible for accelerating EMEA platform growth, as well as leading the transaction teams across 10 EMEA offices. Jan-Willem joins from Cushman & Wakefield where he has worked for over 20 years, most recently as Chair of Capital Markets EMEA with a focus on servicing pan-regional investors and leading cross-border investment transactions at scale. He has been instrumental in...