Industry News

Global real estate investor PGIM Real Estate and pan European investor M7 Real Estate have created a €100 million joint venture focused on industrial and logistics properties in Germany. The venture aims to acquire assets in prime locations and enhance their value through redevelopment and leasing. Two properties, totalling over €40 million, have already been secured. The first asset is located in Mulheim and is currently leased to two tenants, occupying 75% of the space. There is potential to increase...

Aviva Investors, the global asset management business of Aviva, has acquired a new development site in Spain as it continues to grow its multifamily build-to-rent platform alongside Spanish developer Layetana Living. The asset marks the fourth scheme acquired by the platform and, when complete, is expected to provide 331 homes through a mix of one-, two- and three-bedroom properties, making it Aviva Investors’ largest investment to date through its partnership with Layetana. Source: PropertyEU 19 Sep 2024

Union Investment has fully refurbished a historic office building in central Paris and repositioned it as an ultra-modern Grade A property. The building at 60B Avenue d’Iéna will become the headquarters of French  ready-to-wear brand Zadig & Voltaire in January 2025. The property is located in the most prestigious part of central Paris, close to Place Charles de Gaulle and the Arc de Triomphe. The lease covers around 2,680 square metres and runs for nine years. Union Investment acquired the...

BNP Paribas Asset Management (‘BNPP AM’) announces the final close of the BNP Paribas European SME Debt Fund III (‘Fund III’), with EUR 741 million, above the initial target of EUR 600 million. The SME Debt Fund III fund finances Small and Medium sized Enterprises (‘SMEs’) and Mid-cap companies in Continental Europe in the form of secured bullet loans. Since its creation in 2016, BNPP AM’s private debt activity helped more than 250 companies develop their business with more than...

Generali Real Estate has set the ambitious target to double the share of third-party capital in its assets under management in the next five years. In this context, Michiel te Paske’s proven expertise will be instrumental in building and strengthening business relationships with institutional investors, with the goal to promote investment opportunities and raise capital from institutional clients. In his newly created Investor Relations & Capital Raising Director role, Michiel directly reports to the Generali Real Estate CEO & GM...

Niam has entered into an agreement to acquire 51 terraced houses in Denmark, built in 2023. The property is situated in Hedensted, strategically located between Vejle and Horsens in Eastern Jutland. The homes are built as single-family terraced houses, comprising 32 one-storey units 19 units in two storeys. This acquisition will be integrated into Niam’s Danish residential portfolio Nordhusene, aligning well with the overall strategy. Source: press release sent 17 Sep 2024

CapMan Real Estate (“ CapMan”) and Riksbyggen have entered a partnership for property management of CapMan's residential properties in Sweden. Together, we look forward to developing innovative solutions that contribute to continued growth for both of our businesses. The collaboration creates a platform to strengthen our brands in residential property management and offer tenants a high-quality living environment. The focus is on a safe living experience, excellent service, smart digital solutions, and long-term sustainability. Source: press release sent 17 Sep...

Crossbay, the last-mile logistics specialist incubated by pan-European private equity real estate investment manager MARK, has acquired a warehouse in Paris from Ivanhoé Cambridge for an undisclosed sum. The 16,200 square metre warehouse is located north of Paris in the industrial area of Goussainville, a prime logistics hub in the vicinity of Paris Charles de Gaulles airport and well-connected to Paris. The asset has been acquired vacant and will be marketed to last-mile logistics users. Crossbay will fully refurbish the...

Union Investment has sold the 636 Sixth Avenue retail property in the Flatiron District of Manhattan, New York, to a strategic investor at a profit. The buyer intends to redesign the entire building including the offices on the upper floors and repurpose the space. The financial details of the transaction were not disclosed. Union Investment acquired the retail property, which offers total rental space of some 1,700 m2, in 2016 as part of a closed joint venture deal with Nuveen...