Investors

Dutch pension fund manager PGGM and Olmar have acquired the first asset for a newly created European port infrastructure investment venture.

PGGM said it will hold a controlling interest in the new joint venture with the founders of logistic service provider Olmar holding the remaining interest.

For the maiden deal, the partnership has invested an undisclosed amount to buy a storage and transhipment facility of the seaport near the Finnish city of Pori.

UK local authority pension schemes and the Church Commissioners for England are among investors that have committed £350m (€410m) to Bridges Fund Management’s “dark green” real estate impact fund.

Bridges Property Alternatives Fund V, which has been classified as an Article 9 fund under the EU’s Sustainable Finance Disclosure Regulation (SFDR), attracted a number of repeat investors, including Clwyd Pension Fund, East Riding Pension Fund, the Environment Agency Pension Fund, Merseyside Pension Fund and South Yorkshire Pensions Authority.

Allianz Real Estate, acting on behalf of several Allianz group companies, has acquired a portfolio of nine prime residential buildings in the Chamartín district of Madrid for EUR185 million. Located next to Castellana 200, a mixed-use office and retail asset already owned by Allianz Real Estate, the transaction consolidates the firm’s ownership of the wider block and expands its exposure to the highly attractive Spanish PRS sector, particularly in Madrid.

Allianz Real Estate, acting on behalf of several Allianz group companies, has signed an agreement to acquire eight prime logistics facilities in Italy in an off-market forward transaction from a private seller for EUR91 million. The portfolio, comprised of two traditional facilities and six courier warehouses located mainly in northern Italy, is 70 per cent pre-let to a prime Italian tenant.

As part of the transaction, the Fund has simultaneously entered into a 27-year lease agreement with the University of Bath, which included annual CPI rent reviews, collared and capped at 0 per cent and 6 per cent respectively.

Allianz Real Estate said on Wednesday that it has completed the off-market acquisition of a manage-to-core office complex situated in the heart of Milan’s Central Business District.

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Valorem Investment Partners, advised by BNP Paribas Real Estate, has completed a Development Funding Agreement with Aviva Investors for the delivery of a 260 bed Dalata Maldron 4-star hotel on its prime located One Park Lane, Liverpool site. 

McAleer & Rushe is appointed to build the hotel and construction will start in early 2022 with a programmed opening date of autumn 2023.

The hotel is pre-let to Dalata Plc on a 35 year lease with inflation linked rent uplifts through the term. The hotel will trade as a Dalata Maldron hotel, its 4-star lifestyle brand.

Aviva Investors Real Estate France, a subsidiary of Aviva France, has completed the acquisition of the office building Weesperstraat 420-446, in the centre of Amsterdam on behalf of one of its clients. 

The asset has been sold by LaSalle Investment Management (LaSalle), the global real estate investment manager, on behalf of a separate account client.

Diversified professional services and investment management company, Colliers, is to acquire a controlling interest in Antirion SGR, one of the largest real estate investment management firms in Italy with assets throughout Western Europe.