Industry News

PATRIZIA, a leading partner for global real assets, has invested c. €70 million in the forward purchase of a new-build purpose-built student accommodation (PBSA) scheme in Turin, on behalf of one of its international institutional clients. The site is strategically located in Via Frejus to the west of the city centre, which is within 1 km of Politecnico di Torino, home to c. 33,000 students, and 3.5 kilometers from the University of Turin, which has c. 81,000 students. The modern...

Real estate investor Altera Vastgoed NV (hereinafter: Altera) and MN (on behalf of the Pension Fund for Metalworking and Mechanical Engineering (PMT) have sold Stadshart Zoetermeer shopping centre to PingProperties. It is an inner-city comparison centre, including 48 apartments located above it, with a surface area of 22,500 square meters, where many non-food shops are located. This includes 831 parking spaces with shared ownership (45%) in four parking garages. Erwin Wessels, CIO of Altera: “By selling Stadshart in Zoetermeer, our...

Pictet and Brunswick have divested Vanda 3, a 63,000 square meters mixed-use property in Akalla, Stockholm to Barings, one of the world’s largest diversified real estate investment managers, which has acquired the asset on behalf of a pan-European core property strategy. Brunswick will continue to manage the property on behalf of Barings. Vanda 3 is a 63,000 square meters high-quality and flexible mixed-use property in Akalla, Stockholm, which includes data centre, printing, warehouse and office premises. The property is well...

Ardian, one of the world's leading private equity houses, acquired a 70% stake in the 53,000 square meters Pointe Amont de l'Île Seguin project, located on the Seine in Boulogne-Billancourt, in close vicinity to Paris. This is one of Ardian’s largest property investments to date. The project will be co-developed with Emerige, a developer committed to urban transformation, and AOG, a private investment company. The large-scale development will create a fully integrated, mixed-use environment in the heart of the Vallée...

AIF Capital has acquired an underground car park in Spain on behalf of its open-ended parking lots and garages fund. The Stuttgart-based investment manager said it has bought the Princesa underground car park in a central downtown location in Barcelona on behalf of the Parking Fund Europa fund. Financial details were undisclosed. The Princesa, located at Vía Laietana 20 in the Ciutat Vella district, has been leased to one of the top 3 parking operators in Spain. Princesa is the...

GARBE Institutional Capital has acquired “The Lab” in Berlin for the GARBE Science and Technology Real Estate Fund 1 (GARBE STREF#1). The fund was launched together with the capital management company (KVG) INTREAL and is structured as a club deal of institutional investors. Through this asset acquisition, GARBE Institutional Capital has secured for its fund investors a property under long-term lease to a tenant with a strong credit rating in the Adlershof Technology Park, an established innovation cluster in the...

La Française Real Estate Managers said on Thursday that it has acquired its first life science property in Germany from a closed-end net lease fund advised by Crescendo Real Estate Advisors. The property, which was bought on behalf of one of La Francaise’s real estate investment vehicles, is located in the Eurocom Business Park, southeast of Nuremberg. The prestigious and almost completely glazed 6-story light industrial and office building was used in 1995/1996 as the central administrative headquarters and warehouse/logistics...

Italian real estate fund manager Coima SGR has teamed up with real estate company Red Circle to develop a fashion hub next to Milan’s Porta Romana railway yard. Coima said it has agreed the partnership with Renzo Rosso’s real property company to transform the former industrial site on Via Lorenzini into a 20,000 square meters fashion hub. According to sources, Red Circle and Coima will invest equally in the €200 million project. Coima acquired ownership of the Via Lorenzini complex...

Catella European Residential III Fund (CER III) has acquired a residential development project in Zoetermeer, near The Hague for €55 million through a forward-funding transaction. The new-built high-rise in Zoetermeer city centre will offer 134 spacious apartments primarily targeting the substantially underserved affordable mid-range rental sector. The project was acquired by Maastricht-based Catella Investment Management Benelux (CIMB) from developer De Maese on behalf of CER III. CER III is an Impact Fund focusing on environmentally friendly and affordable housing and...