Industry News

Amsterdam, 18 June 2024 – Real estate investor Altera Vastgoed NV (Altera) has announced at the Provada real estate fair last week in Amsterdam, that it has signed a purchase/construction agreement with Dura Vermeer Bouw Zuid West BV (Dura Vermeer) for the purchase of 171 rental homes and 124 accompanying parking spaces as part of the Waterfront project in Spijkenisse. The Waterfront project consists of approximately 750 properties distributed across six buildings, which will be developed and constructed in three...

CapMan Real Estate and Nobis Hospitality Group have entered a 20-year lease agreement for a new hotel operation in the Royal Haga project in Stockholm. The historic property Solna Kasernen 1 will become a unique facility with a hotel, restaurant, spa, conference rooms and offices. Source: press release sent 19 June 2024

Union Investment has sold a commercial and office building at Otto-Brenner-Strasse 9 in Hanover, Germany. The building, which was built in 1974 and modernised in 1994, is located in the north-western city centre of the capital of Lower Saxony and had been part of the portfolio of Union Investment Institutional Property GmbH for around 50 years. The property has a letting area of approximately 4,970 sqm and is currently 100 per cent let. The office and commercial building has been...

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., has completed on the acquisitions of two industrial assets in the U.K., in Banbury, just north of Oxford, and Wembley, for just over £31 million, representing a 9.2% net initial yield (“NIY”) including acquisition costs. The acquisitions will add more than 492,000 sq ft of light industrial space to the Group’s U.K. portfolio, and have...

PGIM Real Estate is acquiring the real estate and operations of Signature Senior Lifestyle (“Signature”), a best-in-class owner, developer and operator of senior housing in the UK, subject to finalization. The acquisition was made on behalf of PGIM Real Estate’s European value-add strategy, in partnership with Elevation Advisors LLP (“Elevation”) to source, structure and execute the transaction and asset manage the portfolio. The transaction is expected to close by the end of H1 2024. PGIM Real Estate is the US$210...

CapMan Residential Fund acquires a forward funding project in Ursvik, Sundbyberg. The project is situated 10 km north of Stockholm city center and comprises 289 rental apartments, an underground parking garage with 85 parking spaces and two small commercial premises. The project is acquired from Reliwe, and the development and construction will be managed by Reliwe and Consto with expected completion in early 2027. Ursvik is a strong location in one of Sweden's fastest-growing municipalities and offers excellent public transport...

Union Investment’s commercial property funds continued to prove their worth as solid investments in the first half of 2024. Despite a challenging market backdrop, open-ended real estate funds Unilmmo: Global and UniImmo: Deutschland paid out healthy distributions to their investors that were around 11 per cent up on the previous year. In mid-June, the distribution from UniImmo: Global was EUR 1.00 per unit, while the distribution made by UniImmo: Deutschland was EUR 1.90 per unit. UniImmo: Europa, which makes distributions...

AXA IM Alts, a global leader in alternative investments with €184 billion of assets under management, acting on behalf of clients, and Sierra, a multinational fully vertically integrated real estate player, announce the creation of a Joint Venture for the development of a state-of-the-art office building that will be located on top of the Centro Colombo shopping centre in Lisbon. The c. 35,000 sqm office scheme will be the third office building to be added to the 173,000 sqm Colombo...

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the opening of a new retail park in Jastrzębie Zdrój, a city of 90,000 inhabitants in southern Poland. Developed in partnership with Karuzela Holding and owned in joint-venture with the FRI 2 fund, this latest opening is the third retail park development opened in Poland by Mitiska REIM and Karuzela Holding in the past nine months. Conveniently located near the city center and close to both...