Industry News

SEGRO plc (“SEGRO” or the “Group”) has acquired three fully leased, highly reversionary logistics warehouses in The Netherlands for a total cash consideration of €222 million. Undertaken via three separate transactions, the assets are all in attractive locations and help to build on SEGRO’s scale in a region which acts as a key logistics hub for Continental Europe, as well as the Dutch domestic market. They total 172,300 sq m of additional space and are in-line with SEGRO’s investment criteria...

Madrid, 27 June 2024 – Azora has acquired, with the intermediation of CBRE, an office building located at Calle Doctor Esquerdo 136 in the Retiro district, an area in Madrid’s city centre that has undergone a major transformation with new office and residential projects. The acquired property is a multi-tenant office building with a total gross lettable area (GLA) of 9,094 m², spread over 8 floors and an underground car park with 23 parking spaces. It is currently 85% occupied...

London, 10 June 2024 - M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has let c. 4,200 sq m of space at its car showroom asset, Mijlweg 61, in Dordrecht, the Netherlands, to Autohero, Europe's largest independent car dealer. Autohero has signed a five-year lease to occupy the entire car showroom and garage, as well as 1,380 sq m of business space and 88 parking spaces, increasing the overall occupancy of the c. 5,800 sq...

17 June 2024: Zenzic Capital (“Zenzic”), the real estate credit investment manager, has completed over £17 million of development finance to fund the construction of 43 residential open market properties across five separate UK schemes. The five projects, which are well spread across the UK, are all with different SME housebuilders, and have a total GDV of over £25 Million. The diverse development projects comprise:- The development of five detached houses, each with a private garden and garage in Scorton...

Union Investment has let around 1,300 sqm in the Lohhof Quartier in Unterschleißheim to the globally active SAUTER Group. SAUTER has been offering products and solutions for building management and room automation as well as facility services over the entire life cycle of a property for more than 100 years and is expected to move to the top three floors of the office tower in the neighbourhood in March 2025. The lease runs for 12 years. Source: press release sent...

Amsterdam, 18 June 2024 – Real estate investor Altera Vastgoed NV (Altera) has announced at the Provada real estate fair last week in Amsterdam, that it has signed a purchase/construction agreement with Dura Vermeer Bouw Zuid West BV (Dura Vermeer) for the purchase of 171 rental homes and 124 accompanying parking spaces as part of the Waterfront project in Spijkenisse. The Waterfront project consists of approximately 750 properties distributed across six buildings, which will be developed and constructed in three...

CapMan Real Estate and Nobis Hospitality Group have entered a 20-year lease agreement for a new hotel operation in the Royal Haga project in Stockholm. The historic property Solna Kasernen 1 will become a unique facility with a hotel, restaurant, spa, conference rooms and offices. Source: press release sent 19 June 2024

Union Investment has sold a commercial and office building at Otto-Brenner-Strasse 9 in Hanover, Germany. The building, which was built in 1974 and modernised in 1994, is located in the north-western city centre of the capital of Lower Saxony and had been part of the portfolio of Union Investment Institutional Property GmbH for around 50 years. The property has a letting area of approximately 4,970 sqm and is currently 100 per cent let. The office and commercial building has been...

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., has completed on the acquisitions of two industrial assets in the U.K., in Banbury, just north of Oxford, and Wembley, for just over £31 million, representing a 9.2% net initial yield (“NIY”) including acquisition costs. The acquisitions will add more than 492,000 sq ft of light industrial space to the Group’s U.K. portfolio, and have...