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UBS Asset Management acquires premium office asset in Amsterdam from abrdn

UBS Asset Management (UBS-AM) Real Estate & Private Markets (REPM) has acquired a prime freehold office asset in Amsterdam, The Netherlands, on behalf of one of its client mandates. 

The Aurora building, named after the life insurance company that originally commissioned its design in the 1960s, offers a premium investment asset, comprising retail, ancillary and office space across 9,678 sq m. The building was acquired from a mandate of abrdn.

KKR, Round Hill Capital and Pulsar Properties sell Spanish logistics portfolio JV for EUR108.3 million

KKR, Round Hill Capital (RHC), and Pulsar Properties, have sold Pulsar Iberia Logistics (the Pulsar portfolio), a Spanish logistics portfolio joint venture, to P3 Logistics Parks for EUR108.3 million.

The Pulsar portfolio comprises c112,000 sq m of big box logistics space, spanning five development schemes, throughout the Greater Madrid Region (82 per cent of lettable area) and Barcelona Region (18 per cent of lettable area). The portfolio is fully leased.

BentallGreenOak and Mulberry Developments to deliver new 1.1 million square feet logistics campus

BentallGreenOak has signed contracts with Mulberry Developments to deliver a state of the art, 1.1 million sq ft logistics campus in Doncaster for Eddie Stobart, part of the Culina Logistics Group.

The campus, located at J34 of the A1M, will comprise two separate, BREEAM Excellent, 18m high, cross-docked 565,000 sq ft warehouses that will be delivered to Eddie Stobart in the middle of 2022.

Ares Management Funds and Generation Partners fund Leeds student accommodation scheme

McLaren Property’s Leonardo and Thoresby buildings Leeds student accommodation scheme has been funded by funds managed by the Real Estate Group of Ares Management (Ares) and Generation Partners, who will also acquire the completed development.

The 473-bed scheme, which consists of the refurbished and listed buildings in the Civic Quarter of Leeds City Centre as well as a new build block, will be completed in 2023.

Work on the development will commence this month, with Robertson Construction appointed as contractor for the Cartwright Pickard-designed scheme.

La Française partners with ALTAREA

La Française Real Estate Managers (REM), a real estate management company with nearly EUR28 billion under management, including more than 50 per cent on behalf of French and international institutional investors, has entered into a partnership agreement with ALTAREA for the sourcing of a large volume of residential rental assets located in France.

The agreement covers 600 housing units per year over two years, including 200 vacant housing units and five managed residences. 

Optimum sells Ocean Drive hotel

Optimum Asset Management (Optimum), a boutique real estate investment manager with assets in Europe and the US, has completed its sale of the iconic Celino South Beach hotel on Miami’s Ocean Drive.

CGI Merchant Group, backed by Alex Rodriguez’s A-Rod Corp and joint venture partner Adi Chugh of Surya Capital Partners, has acquired the asset.

CBRE GI rebrands as CBRE Investment Management

CBRE Investment Management replaces the CBRE Global Investors brand and all sub-brands globally, including CBRE Caledon Capital Management, its private infrastructure business; CBRE Clarion Securities, its listed real assets business; and CBRE Global Investment Partners, its private indirect real estate business. The adoption of a single identity simplifies the brand and represents how the whole firm uses its combined expertise to drive performance for its clients, the company said.