Industry News

BNP Paribas Real Estate Investment Management (BNP Paribas REIM) has acquired, on behalf of one of its funds, a hotel new-build in the Hamburg-Altona district. The property encompasses more than 10,000 sqm and features 220 modern hotel rooms and 44 apartments operated by hotel brands Moxy Hotel and Residence Inn by Marriott. Parent company of the two brands is Marriott International, the world’s largest hotel group with 30 different brands and 7,000 hotels in 131 countries. The property, which was...

Macquarie Asset Management has acquired Goleniow II, a Polish logistics facility, from developer 7R as it continues to expand its presence in the country’s logistics sector. The approximately 63,000 sqm property is strategically located in the Polish logistics hub of Szczecin. The newly developed site benefits from access to key sea and air transportation routes and offers direct access to key European markets through its close proximity to the German border. The prime property is targeting an ‘Excellent’ rating under...

Berlin-based Catella Residential Investment Management GmbH (CRIM) has sold two centrally located fully-let residential and student housing assets in Warsaw and Krakow in Poland to institutional investors in Austria and the Netherlands for more than €60 million on behalf of Munich-headquartered AIFM platform Catella Real Estate AG (CREAG). Catella entered the Polish residential market in 2016 with the acquisition in Warsaw, followed by the purchase of “Trio Kraków” in Krakow in 2017. With 38 million inhabitants, Poland is the largest...

Garbe Industrial Real Estate has acquired a site in Germany for a €28 million development project. The Hamburg-based project developer said it has acquired the 47,000 sqm land in Schmölln for the multi-user property, which can be used for both commercial and logistical purposes. Construction is expected to begin in the second quarter of 2023. The building is scheduled for completion in the first quarter of 2024. The property is part of the Schmölln-Gößnitz industrial network site. Source: https://realassets.ipe.com/news/garbe-industrial-real-estate-grabs-development-site-for-28m-project/10063255.article, on...

CBRE Investment Management has acquired the Batavia life sciences building located at Leiden Bio Science Park on behalf of an institutional investor. Financial details were not disclosed. The 12,000 sqm scheme was purchased from the developer, Provast. Construction is scheduled to start in April 2023 with completion expected at the end of 2024. The project comprises a laboratory and office for housing Batavia Biosciences, which will produce vaccines and medicines against infectious diseases. Provast will develop the building in line...

Union Investment has made its first foray in the resort hotel asset class by acquiring a Marriott Bonvoy Autograph Collection boutique hotel on Lake Tegernsee. Internal fit-out work is under way and should be completed in December 2022 in order for the hotel to open in March 2023. The buyer is a Union Investment special fund and the seller is a subsidiary of developer Planquadr.at, a Salzburg-based partner company of Soravia. The purchase price was not disclosed by the parties...

GII, a Middle Eastern alternative investment group headquartered in the United Arab Emirates, and Capital Bay (CB) have acquired two nursing homes in Holzminden, Lower Saxony, Germany, from a private seller. Financial terms were not disclosed; however, the partners revealed the purchase price was in the double-digit-million euro range. The nursing homes comprise 6,123 sqm of built-up area with 133 beds. Current occupancy is 85 percent, which is expected to increase to 95% once remodeling work is completed. The properties...

NREP is to build the world’s first net zero logistics facility to reach net zero across operational and embodied carbon – and without external off-setting – in Balsta, 50 kilometers outside Stockholm, Sweden. The project is the first of three ‘earthshot’ projects launched by NREP – the second being a residential development and the third an office retrofit – that will act as learning labs as NREP advances towards its ambitious target of becoming 100% carbon neutral by 2028, without...

Orchard Street Investment Management, the UK focused commercial property investment manager, has announced the launch and first close of its inaugural impact fund, Orchard Street social and environmental impact partnership (SEIP). Just under £90 million (€105 million) has been committed at first close, with Brunel Pension Partnership, one of the UK’s local government pension scheme pools, acting as the fund’s cornerstone investor on behalf of eight of its ten underlying local authority partner funds. This capital also includes co-investment committed...