Industry News

Ardstone is seeking to double the size of its core, social and affordable portfolio in Ireland. Ardstone Residential Income Fund (ARIF) currently has a GAV of €1 billion and comprises 2,500 A-rated homes. Just under 40% of the portfolio is purely social housing, offering government backed inflation-linked income for 25 years. The remainder of the portfolio targets the subsidised and mid-market rental segments of the market. The strategy is focused on addressing the massively undersupplied market in Dublin and is...

Clarion Partners Europe , the real estate investment fund manager specialising in logistics and industrial assets, has acquired the recently developed Panattoni Logistics Park in Voerde, Germany, for c.€75 million, from Panattoni. Totalling 66,930 square metres of gross lettable area across two Grade-A properties, the investment has been made on behalf of one Clarion Partners Europe’s co-mingled funds, and takes its deployment in Continental Europe’s dominant logistics market since June last year to around €500 million. Developed by Panattoni between...

Niam has signed an agreement with Wastbygg Gruppen's company Logistic Contractor, to acquire a logistics property that is under construction at Gardermoen in Oslo, Norway. The property, of c. 64,000 square metres, is fully let to the installation distributor Ahlsell on a fifteen-year lease, whereby they will establish their new central warehouse in Norway. Completion of this new central warehouse is planned for summer 2025. Source: europe-re.com on the 17th of April, 2024 https://europe-re.com/niam-acquires-logistics-property-in-oslo-from-wastbygg-gruppen-no/72914

abrdn Property Income Trust Ltd , has sold two of its assets for a total price of €15.44 million. The sale was completed on April 17, 2024, and the buyer's identity remains undisclosed. The sale included Monkton Business Park in Hebburn and King's Business Park in Bristol. The Monkton Business Park was sold for €6.2 million, which is a 6% premium, and the King's Business Park was sold for €9.24 million, a 1.25% discount from the December valuation. The sale...

Marc Noel started his career at Societe Generale in 2002 as legal advisor in charge of international litigations. He then joined the investment banking division of the French Banking Federation in 2005. Back in Societe Generale’s Group in 2007, Marc took the role of Legal Manager in charge of ETF & partnerships at Lyxor Asset Management, then became General Counsel of Lyxor. Marc joined Amundi in 2022 as Deputy General Counsel, in charge of supervising the group's products and market...

Redevco capital Partners is set up in partnership with Oliver Herrmann, founder of redos, German large-scale retail specialist acquired by Redevco in 2022 and now fully integrated in Redevco. The London based, specialist Redevco Capital Partners team and its new Managing Director Mark Beaumont will be leveraging Redevco’s pan European platform of eight offices and circa 270 real estate professionals to invest across multiple asset classes in select European markets alongside strategic capital partners. This business initiative broadens Redevco’s risk-return...

Asset manager AEW has acquired a 66,000 square feet town centre office building in Reading on behalf of its UK core-plus property fund. The manager’s AEW UK Core Plus Property Fund has invested £8 million (€9.4 million) to buy Northgate House on Valpy Street from a private property company. The office building is occupied by a government department. The acquisition forms part of AEW’s strategic site assembly, adding to its existing ownership of Tangent House and a public house to...

International real estate advisor Savills has expanded its flexible office specialist Workthere with the acquisition of flexible advisory business, Situu. Established in 2019 by its four co-founders: Dan Brown; Tom Leahy; Peter Hall and Harry Murphy, Situu is now a 10-strong London based agency who specialise in the delivery and marketing of managed office space on behalf of landlords. In addition, the firm secures serviced, managed and leased space for occupiers and serviced office operators across the capital. At Savills...

Clarion Partners Europe has completed the acquisition, on behalf of one of its co-mingled funds, of a 41,304 square metres Grade-A logistics property in Venlo, The Netherlands, for €47.4 million, from Patrizia SE . The grade-A single tenant property, constructed in 2016, is leased to a subsidiary of 3PL logistics and supply chain management business Arvato Group, with four years remaining. In line with Clarion Partners Europe’s commitment to responsible investing, the property has a BREEAM¹ Very Good environmental certification...