Industry News

GII, a Middle Eastern alternative investment group headquartered in the United Arab Emirates, and Capital Bay (CB) have acquired two nursing homes in Holzminden, Lower Saxony, Germany, from a private seller. Financial terms were not disclosed; however, the partners revealed the purchase price was in the double-digit-million euro range. The nursing homes comprise 6,123 sqm of built-up area with 133 beds. Current occupancy is 85 percent, which is expected to increase to 95% once remodeling work is completed. The properties...

NREP is to build the world’s first net zero logistics facility to reach net zero across operational and embodied carbon – and without external off-setting – in Balsta, 50 kilometers outside Stockholm, Sweden. The project is the first of three ‘earthshot’ projects launched by NREP – the second being a residential development and the third an office retrofit – that will act as learning labs as NREP advances towards its ambitious target of becoming 100% carbon neutral by 2028, without...

Orchard Street Investment Management, the UK focused commercial property investment manager, has announced the launch and first close of its inaugural impact fund, Orchard Street social and environmental impact partnership (SEIP). Just under £90 million (€105 million) has been committed at first close, with Brunel Pension Partnership, one of the UK’s local government pension scheme pools, acting as the fund’s cornerstone investor on behalf of eight of its ten underlying local authority partner funds. This capital also includes co-investment committed...

For over 20 years, Switzerland-headquartered Partners Group has been striking investment deals on behalf of private investors, now it feels the time is right to create a Private Wealth unit. The Zug-based firm began activities in 2001 by offering bespoke solutions to individual investors. Since then, its AUM for this segment of the investor universe has grown to $37 billion, nearly one-third of the company’s $131 billion total AUM, helped by relations with channels such as banks, wealth managers, financial...

USAA Real Estate (USSARE) and U.K. build-to-rent (BTR) investor Packaged Living have entered into a new joint venture to develop a portfolio of multifamily BTR assets in the United Kingdom. The joint venture will pursue the acquisition, planning, construction and operation of multifamily BTR assets in the United Kingdom. It has closed on its first land acquisition in Liverpool. Packaged Living will be responsible for acquisitions and delivery of the joint venture’s portfolio. Source: https://irei.com/news/usaa-real-estate-packaged-living-form-u-k-btr-jv/, on 9 November 2022

Aareal Bank has completed a £239.9 million (€276 million) senior loan to refinance the acquisition of a hotel portfolio for an opportunity fund advised by Tristan Capital Partners, the panEuropean real estate investment manager. Aareal Bank acted as sole arranger, facility and security agent for the financing. Earlier this year Tristan’s opportunistic fund European Property Investors Special Opportunities 6 (EPISO 6) acquired a majority shareholding in Raag Hotels Limited which owns the boutique brand Point A. Comprising 1,387 rooms across...

M7 Real Estate announces in partnership with Oxford Properties Group that it has let c. 3,100 sqm of newly refurbished urban logistics space in Santa Perpetua, Barcelona, to Sostmeier. Sostmeier, a well-established pan-European logistics operator, has agreed to a five-year lease on the property meaning M7 has achieved 100% occupancy at the previously vacant asset, only two months after its acquisition. Since acquiring the asset from a private investor in August, M7 has undertaken a comprehensive asset management programme to...

Helge Krogsbøl has taken over as Heimstaden CEO from 1 January 2023. Patrik Hall has after more than 20 years decided to leave his position and continue as Senior Advisor and member of the Group Investment Committee. “Patrik has been the key force in taking Heimstaden from a small Malmø based company, to today’s pan-European platform with more than 300,000 people living with us. Leaving the CEO position to Helge will give him the possibility to focus on investors and...

The global real assets investment management firm has appointed Gioia Torresi and Pav Lamba directors in its European direct private infrastructure team. Reporting to the head of the European infrastructure investment practice, Lamba will be responsible for making European direct investments whilst Torresi will focus on the asset management of the European direct infrastructure portfolio and on sustainability and governance. With 10 years of experience within the investment and advisory industries across London and Toronto, Lamba will source, execute and...