Industry News

Hines , the global real estate investor, developer and manager has appointed John Carr as chief financial officer for Europe, succeeding current CFO David Braaten who will retire. Carr joined Hines in 1997, becoming regional controller for the American West Region. He then moved to Beijing between 2006 and 2011 as his role was broadened to include Hines’ Asia Pacific Region, before returning to the US and continuing to serve both regions up until his appointment to the firm’s European...

Feldberg Capital has acquired 21-25 Bedford Street, London WC2, for approximately £75 million (€88 million), for its ReForm fund. ReForm is a brown-to-green workplace fund, investing in energy inefficient ‘brown’ offices and using Feldberg’s ESG capabilities to retrofit and reposition these assets into modern green workplaces. It was launched in October 2023. The fund targets assets in Central London’s growth locations underpinned by excellent connectivity and amenity, such as Covent Garden, Soho, Fitzrovia and Bloomsbury. 21-25 Bedford Street is a...

CBRE UK affordable housing fund (AHF), a fund sponsored by CBRE Investment Management , has committed capital to acquire and develop 522 affordable rental homes through forward funding and forward commitment transactions in the last 12 months. Transaction highlights have included funding 294 regulated rent homes at Wood Wharf, part of the Canary Wharf Group residential development in Central London, and delivering 67 regulated rent and 11 shared ownership homes across two sites in Exning, Newmarket and Weston, Spalding. The...

Unite Students has announced plans to develop its first mixed-use property in Edinburgh combining student, build-to-rent (BTR) and affordable units. The new 401-bed property called Burnet Point will be the first of its kind for the UK’s largest provider of student accommodation. The city centre development, which has total development costs of £59 million (€69 million), will also be Unite Students’ lowest carbon new-build and will use low-carbon concrete and timber composite, an environmentally friendly alternative to natural wood. As...

UK social infrastructure real estate investor Newcore Capital , investing on behalf of its latest value add fund, has acquired a supermarket asset in London from British Land for £30 million (€35 million). The Newcore Strategic Situations V (NSS V) fund has bought the 5.6-acre site in Bromley-by-Bow, comprising a 70,000 square feet Tesco supermarket, a 558-space car park and a petrol filling station. Source: realassets.ipe.com on the 28th of March https://realassets.ipe.com/news/newcore-buys-70000sqft-london-supermarket-asset-with-fuel-station/10072462.article

Global real estate advisor, CBRE , has appointed Julie Ennis as head of UK Occupier. In her new role, Ennis will be responsible for leading CBRE’s occupier strategies to drive growth across all aspects of its occupier business in the UK. She joins CBRE with over 25 years of experience in the banking and property services industries. She spent more than 20 years at the Bank of Ireland, where she held progressive leadership positions spanning sales, product & proposition development...

AEW has acquired a newly built logistics asset in Germany on behalf of its open-ended pan European core fund. The manager said the fully let 50,200 square metres asset in Hanover-Sehnde was acquired on behalf of the Eurocore fund. Source: realassets.ipe.com on the 27th of March https://realassets.ipe.com/news/aew-acquires-logistics-asset-in-germany-for-eurocore-fund/10072449.article

Union Investment has sold the Stockholm office building, Sthlm Hub, also known as Uggleborg 14, to Swedish property investor Vasakronan for approximately €62 million. The purchase price is higher than the most recent valuation though the seller did not provide guidance on when the most recent valuation was or at what value. Vasakronan is owned by four of Sweden's national pension funds and already owns the neighbouring property. Built in 1967 and extensively modernised in 2016, the building has been...

Branded business and industrial parks owner Sirius Real Estate has added a £48.25 million (€56.4 million) asset to its UK portfolio. Sirius Real Estate, which owns and operates assets in Germany and the UK said it has agreed to buy Vantage Point Business Village, a multi-let business park in Gloucestershire, in a deal that represents a net initial yield of 10.2%. As part of the acquisition, Sirius Real Estate has also acquired a photovoltaic solar business from the vendor which...