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Allianz Real Estate and Codic to redevelop assets in Avenue Cortenbergh in Brussels into prime office complex

Allianz Real Estate, on behalf of several Allianz Group companies, and Belgian developer Codic have entered into a joint venture to redevelop two neighbouring assets in Brussels into a single, state-of-the-art office complex. 

This off-market transaction will allow for Allianz to expand its presence in Brussels’ prime EU district, one of the more stable European office markets and one with a very low historic vacancy rate. At the completion of the project, Codic will sell its stake in the joint venture to Allianz.

Ivanhoé Cambridge invests in German mixed-use building project

Ivanhoé Cambridge has invested an undisclosed sum in Germany to buy a mixed-use building project.

The C$64bn (€41.5bn) real estate subsidiary of the Caisse de dépôt et placement du Québec said it has acquired Alte Post Quartier project in Neukölln, a borough in Berlin with Commodus as co-investor.

The 16,000sqm asset comprises offices, new residential apartments and services such as a restaurant, a gym and storage facilities.
Commodus will act as asset and development manager, overseeing the project.

Allianz acquires €135 million affordable housing portfolio in Germany

Allianz Real Estate has added a €135m worth affordable housing assets in Germany to its residential portfolio.

The manager, on behalf of several Allianz group companies, has bought a 300-unit portfolio from specialist developer Schultheiß Projektentwicklung.
Allianz Real Estate said the portfolio‘s three assets, currently under development and due for completion by the end of 2022, are located in Nuremberg in the German state of Bavaria.

Danish pension fund PFA and Domicil buy €252 million of German micro-apartments

PFA, Denmark’s second-biggest pension fund, has bought the majority of a portfolio of German micro-apartments from AviaRent Invest for more than €252m.

According to investment company Domicil Real Estate – which made the investment on behalf of PFA and invested in one of the properties itself – the transaction was one of the largest in the micro-apartment segment in Germany.

Allianz and EDGE to turn Amsterdam’s Forum into cutting-edge smart office

Allianz Real Estate has partnered with EDGE Technologies to refurbish, enlarge and upgrade the five-storey landmark Forum office building in the centre of Amsterdam’s key business district.

The investor said the building will be rebranded as EDGE Stadium and revamped to provide tenants the highest environmental and innovative standards to date in the market.

EDGE Stadium will be designed to achieve BREEAM Excellent and WELL Core & Shell Gold certifications and will target reduced total energy consumption of approximately 70%.

APG, CPP Investments, Goodman commit £900 million to UK logistics JV

Goodman Group, Canada Pension Plan Investment Board (CPP Investments) and APG Asset Management have expanded their three-way UK logistics investment partnership with a further £300m (€327m) commitment each.

The trio formed the Goodman UK Logistics Partnership in 2015 and has since deployed over £381m across 13 investments currently worth £478m.

Valor, QuadReal join to invest €1 billion in European urban logistics assets

Valor Real Estate Partners and QuadReal Property have formed a joint venture to invest €1bn urban logistics assets located in key UK, French and German cities.

QuadReal, the real estate arm of British Columbia Investment Management Corporation, will be the majority investor in the partnership, which will have initial capital commitments of €440m. With leverage, the newly launched value-add and develop to hold investment platform is expected to have more than €1bn of investable capital.

GIC scales up P3 logistics platform with 33 German assets

Singapore’s GIC has added a portfolio of 33 German retail logistics assets to its European warehouse platform P3 Logistic Parks.

The sovereign wealth fund has invested an undisclosed sum to buy the 650,000sqm Matrix portfolio, which includes assets in urban locations in cities and towns, including Berlin, Dortmund, Nuremburg, Hamburg, Hanover, Cologne, Dresden and Leipzig.

Allianz adds Broni Logistics Park to Italian logistics portfolio

Allianz adds Broni Logistics Park to Italian logistics portfolio

Allianz Real Estate’s Italian logistics fund has bought the fully-let Broni Logistics Park for an undisclosed sum.

The Investitori Logistic Fund has bought the 150,000sqm park from Invesco Real Estate’s European Value-Add programme.

Allianz said the acquisition of the Broni Logistics Park is the firm’s fifth logistics deal in Italy in the past 24 months and lifts Allianz Real Estate’s Italian logistics portfolio to €386m.