Industry News

CBRE Investment Management has appointed Krijn Taconis in a key position to boost business for the firm. As head of transactions in the Netherlands, he will focus on business development and ‘complex’ acquisition and disposal processes, while also working with EMEA teams and being part of the firm’s Dutch leadership. It is a return to the fold for Taconis who spent 11 years at the company as executive director and head of retail in Amsterdam. He left in May 2018...

As part of its ongoing development strategy to widen its market coverage and address a broader range of international institutional investors, Primonial REIM has appointed four new team members to strengthen its business development unit. Alexander Tilson has been appointed as managing director, business development, Primonial REIM UK, based in London. He will focus on international investors located in the UK, Scandinavia and Benelux. Tilson has almost 20 years’ experience in European private real estate capital raising and investing. Before...

BNP Paribas Asset Management (BNPP AM) has raised more than €700m for its second senior commercial real estate debt fund. The manager said the amount raised for BNP Paribas European Real Estate Debt Fund II, exceeded the fund’s €500m target. Fund II’s predecessor closed in April 2021, with €335m of capital now fully deployed across 12 assets in continental Europe. The fund has so far been deployed across 19 transactions in Continental Europe, in the logistics, office and residential sectors...

Industrial giant Prologis has expanded its UK portfolio by acquiring two prime urban logistics estates in Greater London for £200 mln (€236.4 mln). The two estates, based in Park Royal and Watford, were purchased from Schroders Capital Real Estate and comprise over 362,000 sq ft (33,630 m2) of last-mile logistics accommodation. They are fully leased to occupiers operating in diverse industry sectors including distribution, construction and pharmaceuticals, as well as film and television. Central Park in Park Royal is an...

Redevco, one of Europe’s largest privately-owned real estate investment managers*, has acquired 11 Minerva Way in Glasgow on behalf of one of its investor clients. The seller, CBRE Investment Management, has already secured a planning consent for roughly 200 residential units. The 3.24-acre (1.3 ha) site includes a single 45,871 sq. ft (4,262 sqm) property with a ground and mezzanine floor let to Nuffield Health as a fitness centre. This acquisition and the longer-term ambition to use the site to...

Real estate investor Altera Vastgoed has taken delivery of Karakter, the second building of project ’t Zand in Utrecht by VABO Ontwikkeling. Following completion of this phase of construction the building’s brand-new tenants were presented with their keys last week. After Waterval, Karakter is the second building in the project to be completed and transferred to Altera. It hosts 47 apartments, all of which already have tenants. The name ‘Karakter’ was inspired by a book by F. Bordewijk, who just...

Niam has acquired Solåsen Handel, a modern and well-functioning retail park located in an established micro location in Jönköping, Sweden. The retail park consists of three properties and ~36,000 sqm lettable area with 22 tenants, the largest being K-Rauta, Leos lekland, XXL, MediaMarkt and Rusta. Additionally, a new store for Dollarstore is currently being constructed. The seller is Genesta. Victor Wettergren, Fund Manager, says: “We are happy to announce that we have acquired a well-functioning retail park with a strong...

KGAL Investment Management GmbH & Co. KG has acquired the fully-leased 9,200 sqm office property Westerlaan 10 (W10) on behalf of a pan-European fund. The property, which is located in the city centre and has a high-quality interior, has been the corporate headquarters of Vopak for many years. The internationally active, listed group extended its lease for 15 years in 2020. With the largest port in Europe, Rotterdam is considered "Europe's gateway to the world"; around 54,000 companies are located...

Commerz Real has acquired a 25% stake in the Elbtower high-rise development by SIGNA Real Estate in Hamburg's HafenCity district for its open-ended real estate fund Hausinvest. Construction of the mixed-use high-rise building at Elbbrücken, designed by David Chipperfield Architects, is scheduled to start in early 2023 and to be completed by the end of 2025. The pit is currently being excavated. Three years before completion, the pre-letting rate is already over 40% (the rate for the office space is...