A fund managed by BlackRock Real Assets has acquired a Sainsbury’s distribution warehouse in Bedford from Legal & General for GBP90.5 million.
The 462,746 sq ft unit is let to Sainsbury’s on an unexpired lease term of 15 years with five-yearly RPI-linked uplifts subject to a floor of 2 per cent and cap of 4 per cent pa.
AEW, a leading global real estate investment and asset manager, has launched a new urban logistics and light industrial strategy (ULLIS) with EUR475 million of start-up equity.
The Platform is structured as a scalable partnership, targeting the development of an initial portfolio of circa EUR800 million. The investors that have committed to the Platform are long-term partners of AEW in the logistics sector and include PGGM, Allianz Real Estate and Crédit Agricole Assurances.
Europa Capital has agreed a lease extension with XPO Logistics at its c51,100 sq m distribution facility in Oss in the Netherlands, on behalf of its new open-ended vehicle, the Europa Diversified Income Fund (EDIF).
In the Netherlands, Europa Capital is assisted by local representatives, ARC Real Estate Partners.
Round Hill Capital announced on Thursday that its European Residential Income Fund II (ERIF II) has completed a deal to acquire a 1,000-unit residential portfolio in East Germany from a subsidiary of Orlando Real Berlin.
Spread across 13 clusters in Halle and Magdeburg, eastern Germany, the deal includes 982 residential units spanning 52,819 m2 and four commercial units. The properties have high occupancy rates and Round Hill said that it plans to unlock further value by leveraging the expertise of its on-the-ground German team.
Nuveen Real Estate and Value One’s European student housing venture Eagle JVCo is buying a portfolio of purpose-built student housing and two development sites in Wroclaw, Poland.
Eagle JVCo has agreed to buy the portfolio which currently comprises around 150 beds and the developments which will add nearly 800 beds once completed.
The portfolio will be operated by Milestone, Value One’s student housing platform.
Ares Management Corporation has so far raised €573m for its value-add European property fund, according to an investor’s meeting document.
The New Mexico State Investment Council (SIC), which approved a $75m (€61.6m) commitment to the Ares European Property Enhancement Partners III this week, told IPE Real Assets that Ares is expecting to hit its €1bn capital raise target in the spring of this year.
Northern LGPS and Brunel Pension Partnership have invested £190m (€216m) in a new open-ended UK affordable housing fund managed by PGIM Real Estate.
PGIM Real Estate said including leverage, the newly launched UK Affordable Housing Fund has the potential to deploy up to £250m. The fund targets a 6-9% total return per annum, net of fees and costs.
BNP Paribas Real Estate Investment Management (REIM), on behalf of its Eurozone Logistics Fund (ELF), has bought two fully-let logistic warehouses in Italy from Prologis.
The manager said it has added a 30,750sqm warehouse in Anagni and a 27,300sqm warehouse in Brembate to ELF’s portfolio.
Swiss Life Asset Managers’ French arm is buying assets in France, Spain and Italy on behalf of SL REF LUX European Healthcare, its pan-European health fund.
The manager said the fund is buying a nursing home in Aranjuez, close to Madrid covering 12,000sqm with 251 residents, a 108 elderly care home apartment in Trélazé in France and has also agreed to buy a 128-unit senior care residence under construction in Milan.
Aegon Asset Management has set up a new UK real estate fund for defined contribution (DC) pension investors, to help the investors increase their allocation to the asset class and ease liquidity challenges.
The asset manager and Mobius Life have launched the Aegon Active Beta DC Property Fund, with seed funding from an unnamed “major UK pension plan”.
Aegon said the new fund is a version of the Active Beta Property Fund, the first fund to track the UK commercial property funds market, which was launched in 2017.