Industry News

UK property firm Grosvenor and Italy’s Generali Real Estate have launched a new partnership to provide debt financing to UK residential developers. Building on Generali Real Estate’s experience of financing real estate projects and Grosvenor’s experience as a developer with knowledge of the UK housing market, the partnership has been seeded with an initial £ 50 million (€ 58 million) from each organisation and will operate as a ‘pari-passu’ coinvestment strategy. Generali Real Estate and Grosvenor will look to address...

CapMan Residential Fund (CMRF) acquired two high-quality residential assets at the end of 2023. The transaction is the seventh investment for CapMan’s pan-Nordic core residential fund. Two buildings comprising of 82 apartments in total were completed in 2023. They are located in the Olari and Soukka districts of Espoo. These assets are well-connected to public transport and are situated approximately 20 minutes away from Helsinki city centre. The Olari property is also within a short walking distance from one of...

Germany's Union Investment Real Estate is bringing Markus Diers, 44, back into the fold to be in charge of retail asset management from March. Diers, who will be responsible for more than 50 assets, is taking over from Lars Richter, who was instrumental in building up the portfolio and the department. After successfully managing the department for 20 years, Richter will retire from the company on age grounds at the end of 2024. Source: propertyeu.info on the 10th of January...

International real estate advisor Savills has promoted Kamil Kowa to managing director of Savills Poland. In his new role, Kowa will work closely with Stuart Jordan, CEO of Central and Eastern Europe (CEE) at Savills to help clients operating in or looking to enter the Polish real estate market. Kowa has 20 years of experience in real estate. As a board member and head of corporate finance & valuation at Savills Poland, he introduced several tech-based solutions. He also established...

Union Investment has successfully sold the logistics property at Industriestrasse 11 in Oftringen, Switzerland. The buyer is a Swiss property fund from UBS Asset Management. The purchase price is higher than the most recent Expert value. The logistics property, which comprises around 31,155 square metres of rental space and was built in 2008, was acquired by Union Investment in 2013 for the portfolio of the institutional mutual fund UniInstitutional European Real Estate and was fully let to the logistics company...

GARBE Institutional Capital has completed the acquisition of GRR Real Estate Management GmbH. With this deal closing, a market-leading German platform for food-anchored retail real estate is now part of GARBE group of companies. GRR manages a portfolio of some 500 properties, with assets under management (AuM) of about € 2 billion. The c. 80 employees of GRR Real Estate have been assumed by GARBE. The 52 on-balance-sheet properties held by GRR have been acquired by GARBE Institutional Capital on...

CBRE Investment Management, on behalf of a fund sponsored by the firm, has acquired a 16,600 square metres Student Housing complex, providing 448 rooms (580 beds) in Milan. The seller is Manifatture Milano S.p.A. The forward funding transaction, agreed in 2021, has seen the seller undertake a comprehensive refurbishment of the building to deliver high-quality homes for student accommodation. The asset was pre-let to a national student operator CampusX. The building comprises a reception area, lounge/communal area, cinema room, library...

La Française Real Estate Managers (REM), acting on behalf of two collective real estate investment vehicles, and EDF Invest have acquired the Memphis building, a mixed-use property, office and retail, located at 111 avenue de France in the 13th arrondissement of Paris. Asset management is entrusted to the Institutional division of La Française REM. Located in the heart of the ZAC (development zone) Paris Rive Gauche, in a mixed business and retail environment that welcomes large national and international companies...

Garbe Industrial Real Estate GmbH has purchased a 420,000-square-metre plot of land in the Berlin area. A logistics centre with a total area of around 270,000 square metres is to be built on the site in Fehrbellin, Brandenburg (Ostprignitz-Ruppin district). Construction is expected to start in the fourth quarter of 2027 once building rights have been obtained and the site has been developed. The investment volume amounts to approx. 290 million euros. Source: garbe-industrial.deon the 19th of December, 2023 https://www.garbe-industrial.de/en/garbe-industrial-real-estate-secures-huge-site-near-berlin/