Industry News

The real estate fund manager has appointed Lara Young as head of ESG. Young is currently the chair of the Carbon Champion Review Panel, which is convened by the Institution of Civil Engineers. She also worked as the climate change director at Costain where she helped establish and implement its climate change action plan. Source: realassets.ipe.com on the 15th of December 2022 https://realassets.ipe.com/news/people-moves-cromwell-property-appoints-head-of-esg/10063948.article

Thomas Laakso, Investment Director at CapMan Real Estate, has been promoted Partner. Simultaneously, he takes over leadership of the CapMan Hotels II fund from Pirjo Ojanperä, who transitioned to a Senior Advisor role in December after a long career at CapMan. CapMan Hotels II fund is one of the largest owners of hotel properties in the Nordics. Mr. Laakso, who has extensive experience from hotel operations, development, consulting and asset management across Europe, the Middle East, Africa and the USA...

London-based investment company Icona Capital has acquired a 40% minority stake in global real estate player Stoneweg. Financial details were not disclosed. The transaction creates a combined €8 billion platform, which both companies claim exploits their capital sourcing, deal flow origination and asset distribution capabilities. Max-Hervé George, founder and CEO of Icona Capital, said: 'We see tremendous growth potential utilising the extensive synergies our firms can reap from tapping into our unified vision, entrepreneurial spirit and creativity. 'Building on Stoneweg...

The portfolio consists of properties situated in Gothenburg, Jönköping, Malmö, Stockholm and Västerås. The total lettable area amounts to around 357 t square metres. which are mainly premises for warehouse and logistics. The economic occupancy rate is 94%. The underlying property value is around 5,350 SEK million, which is in line with the book value. For Corem, the estimated result effect of the transaction amounts to around -360 SEK million, after deduction for deferred tax, transaction costs and agreed price...

DWS has sold office building Zilveren Toren in Amsterdam for an undisclosed sum. The multi-tenanted block is located at Stationsplein 51-71 next to Amsterdam's Central Station. The property measures approximately 5,000 square metres of office space and has been under management of DWS since 1998 on behalf of one of its funds. It is 80% leased to Albelli and The Organic Corporation (Tradin Organic Agriculture). The buyer has made plans to redevelop the property and to improve its sustainability in...

German investment manager Deka Immobilien has acquired the future corporate headquarters of online travel giant Booking Holdings for €566.3 million. The digital travel firm said it had inked a sale and leaseback deal for the property which was recently completed at the Oosterdokseiland to designs by UN Studio and Ben van Berkel. The mixed-use campus, which has achieved a BREEAM Excellent design certificate, was delivered in November after a construction period of several years. Booking.com will move operations there from...

Savills Investment Management has acquired two properties in Lyon and Milan for approximately €110 million for the investment mandate of a southern German pension fund. The real estate fund manager said they were the first purchases in France and Italy for the mandate which dates back to 2015. Previous investments have focused on Germany, with the portfolio also including a property in Luxembourg. The property in France is a 11,450 square metres, fully-let office building in the central business district...

Real estate investor Altera Vastgoed NV (hereafter: Altera) has taken delivery of the first 80 ground-level homes in Phase 1 of ’t Groene Wold in Almere from Vastbouw Vastgoedontwikkeling BV. All completed properties are fully let and residents will be welcomed in the coming weeks. The ’t Groene Wold project consists of eight residential courtyards with a total of 372 ground-level homes, to be completed in three phases. Altera has purchased 174 of these ground-level homes, spread across three sub-areas...

AXA IM Alts has added a 758-bed student accommodation scheme in Southeast London to its UK residential portfolio. The €184bn global alternative investments asset manager, investing on behalf of clients, has paid an undisclosed sum to buy Vita Student Lewisham Exchange in Southeast London. Vita Group, the developer of the purpose-built student accommodation, has been retained as the assets’ operator under its Vita Student brand. Vita Student Lewisham Exchange was constructed in 2021 and comprises a mix of fully equipped...