Industry News

Global private markets firm Partners Group has entered into an agreement to sell a Swedish retail warehouse portfolio to Svenska Handelsfastigheter for SEK 1.3 billion (€110 million). The portfolio was held in the Sveafastigheter Fersen and Sveafastigheter Fersen II structures and has been managed by Brunswick Real Estate on behalf of Partners Group since 2015. Closing of the transaction is planned for 30 May 2024. The high-quality portfolio representing 85,200 square metres of retail space comprises seven properties located in...

The transaction includes the acquisition of the 5-star Marriott Praia d’El Rey Hotel, two leading 18-hole golf courses and the management of a large rental pool of apartments in Praia d’El Rey. Purchase complements Azora’s current portfolio of 6 leading hotels in Portugal, including Vilalara, Tivoli Vilamoura, Tivoli Carvoeiro, Tivoli Alvor, The Lodge Hotel and the future opening of Hotel das Luzes, and highlights Azora’s strong conviction for the Portuguese tourism sector. Azora will continue strengthening the positioning and quality...

US fund manager Nuveen Real Estate has gone for a subsector of the Nordic housing market as it seeks to deploy €350 million of dry powder for a value added strategy. Its debut single housing investment for its European value add fund is the €42 million capital commitment for an initial 141 units across four single family estates in Helsinki, Finland. The deal comes as it extends fundraising for the whole year, and while the firm focuses on 'mispricing and...

Judith Tillie will start as Director Asset Management at investment manager Achmea Real Estate (ARE) as of 1 July 2024. She previously worked at Woonzorg Nederland, in recent years as Manager Property Management. Source: achmearealestate.nl on the 28th of May, 2024 https://www.achmearealestate.nl/en/news/judith-tillie-director-asset-management-bij-achmea-real-estate

Pan-European real estate private equity firm ActivumSG has sold three shopping centres in Barcelona, Caceres and Bilbao for a total of €140 million. The portfolio was acquired from ActivumSG-advised Iberia Fund I by an undisclosed buyer. The three shopping centres were acquired in separate transactions by ActivumSG before Covid-19. They comprise the SOM Multeispai, a 388,000 square feet (36,000 square metres) GLA shopping centre in Barcelona; the Centro Commercial Ruta de la Plata, a 191,000 square feet GLA shopping centre...

Stoneweg has entered into a binding agreement with Cromwell Property Group (Cromwell) to acquire Cromwell’s European fund management platform and associated co-investments, which totals €3.9 billion of real estate assets under management, for a total consideration of €280 million, subject to closing adjustments and regulatory approvals. Under the terms of the transaction, Stoneweg is acquiring Cromwell’s: 100% interest in Cromwell Europe Limited; 27.8% unitholding in CEREIT, a real estate investment trust listed in Singapore with a €2.2 billion portfolio; 100%...

Patrizia has invested around £25 million (€29 million) in the Malmaison hotel in Edinburgh city centre on behalf of one of its UK institutional clients. The 72-bed boutique hotel is in a prime location on St Andrew’s Square close to Edinburgh Castle, St James Quarter and the Royal Mile. The fund manager said the hotel benefits from an “attractive inflation-linked long income profile”, with a 30-year lease with one of the UK’s leading boutique hotel groups. The asset has the...

Panattoni has delivered yet another project in the Małopolska region, completing construction on Panattoni Park Krakow East IV. The development is now to be financed with a €10.5m loan granted by Bank Gospodarstwa Krajowego. The 18,100 square metres centre has been fully leased out to OMEGA Pilzno. Source: europe-re.com on the 22nd of May, 2024 https://europe-re.com/panattoni-completes-logistics-centre-in-krakow-leased-to-omega-pilzno-pl/73046

Heitman LLC (“Heitman”), a global real estate investment management firm today announced the acquisition of its first residential asset in Oslo. Bjerkebanen Apartments is located in the growing Bjerke district of Oslo and has over 6,000 square metres of residential and commercial space. The micro location will benefit from the completion of ongoing local public investments in infrastructure that are being made in the area, including a major hospital, which, combined with historical high demand and diminishing supply for residential-for-rent...