Industry News

Norwegian insurer DNB Livforsikring has sold Vasahuset at Kortbyrån 19 and 20 in central Stockholm to local pension fund KPA Pension, part of the Folksam Group for SEK 3 billion (€276 million/$269 million). “We are continuing our profitable expansion of the property portfolio, and it feels good to now acquire these two stable management properties in the middle of our core market in Stockholm. The location is the best in Sweden, and the office premises are attractive on the rental...

Cromwell Property Group has acquired five logistics assets in the Nordics, spread across three separate transactions. These acquisitions are part of a new value-add investment mandate alongside global investment firm Carlyle, targeting logistics assets in Sweden and Denmark. The assets, which total 25.000 sqm, are situated in urban locations and national distribution hubs in Copenhagen, Aarhus and Kolding, Denmark, and Helsingborg, Sweden. The European logistics market has experienced accelerated growth in recent years. There has been an increased shift toward...

REInvest realises the growth in value of an office complex in Paris/Levallois-Perret through its sale to RedTree Capital Luxembourg-based real estate investment partner REInvest Asset Management S.A. and BNP Paribas Cardif recently sold the office complex Front de Paris to French real estate investment manager RedTree Capital, acting on behalf of its own discretionary fund and a consortium of investors. The title in the Front de Paris office complex was held by two co-owners, DEREIF SICAV-FIS (43.5% stake) and BNP...

Savills Investment Management (Savills IM), the international real estate investment manager, has advised on the acquisition of a newly constructed office and commercial building at Kurfürstendamm 12 in Berlin for Versicherungskammer. The seller is the RFR-Group, which acquired the asset in 2021. The prestigious new building in Berlin's premium location comprises more than 6.500 sqm of rental space across six floors and achieved DGNB Platinum certification. The building was part of the historic Gloria ensemble, a former neo-baroque cinema hall...

Redevco, one of Europe’s largest privately owned urban real estate managers, has entered the European hotel market with the acquisition of six assets across Spain and Portugal for more than €80 million. The investments in Lisbon, Bilbao, Seville, Porto, and Malaga are to seed the launch of Redevco’s Next Gen Stays joint venture platform. The goal of the strategy is to capitalize on the post-pandemic resurgence and growth in the youth tourism and experience travel market and aggregate a professionally...

Mitiska REIM, the leading specialist investor in European convenience real estate, has announced the opening of a new multi-let light industrial development, Green Business Park Carnaperhof, in the German City of Essen. Developed in joint venture with BVI.EU, this new business park has 32 units ranging from 140 to 1.200 sqm, spread across four buildings with a gross leasable area (GLA) of around 7.300 sqm. Strategically located close to federal roads and motorways that connect Karnap with Düsseldorf Airport, Westphalia...

Union Investment has acquired Module 2 of the Siemens Campus in Erlangen via a club deal. The site is the largest and most modern Siemens location worldwide. The acquisition is being made for an investment fund established to meet the needs of four institutional investors, for special real estate fund UII EuropeanM and institutional real estate fund UniInstitutional German Real Estate. Union Investment is taking a 60% stake in the property company, with Siemens retaining the remaining 40%. The purchase...

The well-known residential research expert Dr. Lars Vandrei has assumed responsibility for the Research unit at Berlin-based Catella Residential Investment Management GmbH (CRIM) to drive forward the company's growth strategy. The appointment is effective from 1 September. Dr. Lars Vandrei has almost 10 years of experience in residential real estate research and served most recently as Associate Director Research Residential Germany at advisor Colliers. Prior to that, he worked for many years at the German ifo Institute Leibniz Institute for...

Aviva Investors, the global asset management business of Aviva, has announced a further hire to its European real estate team, appointing Edmond de Fels as investment manager. De Fels is the fourth significant addition to Aviva Investors’ growing European Real Estate team this year, as the business continues to grow its real estate strategy across the continent, having completed approximately €700 million of deals in 2022 so far. Based in Paris, he will manage real estate investments in the French...