Industry News

German investment manager Values Real Estate has acquired an office property in Kiel for its Values public sector fund. The office, comprising 15,900 m2 of rental space, is fully leased on a long-term basis to the state of Schleswig-Holstein for its property management division. The rental agreement includes 175 parking spaces, while Kiel's main train station is only 900 metres away. The seller of the property, which is located in the old town of the Schleswig-Holstein state capital, is Investa...

Intermediate Capital Group’s real estate arm has acquired a 473,232sqft online fulfilment centre in the UK. ICG Real Estate said it has bought the Boots distribution warehouse in Burton-on-Trent in a sale and leaseback transaction. ICG’s SLB Fund is pleased to close the acquisition of Boots’ main online fulfilment centre, adding another mission-critical asset to the portfolio, said Chad Brown, managing director at ICG Real Estate. Brown said rental growth forecasts in the sector continue to be strong, with the...

Catella Residential Investment Management’s (CRIM) open-ended pan-European fund has bought a Dutch office tower to redevelop for residential use. The Catella European Residential III Fund (CER III) has acquired the Ceylonpoort office tower in Haarlem, near Amsterdam, for €65m. The former office of publisher VNU was acquired from developer Wedda. The redevelopment of the tower, which is scheduled for completion in mid-2024, will accommodate 162 apartments, 536sqm commercial space, and a three-level parking garage for residents. Paul van Stiphout, fund...

HIH Invest Real Estate (“HIH Invest”) just acquired a residential development in Wuppertal on behalf of the “Deutschland Wohnen Invest” institutional fund from its developer, TEAMRHEINRUHR Projektentwicklung GmbH. The property, which will deliver 5,025 square metres of dwelling floor area, is located on Münzstrasse in the Barmen district. The development will create 60 residential units inside a five-storey building that will meet the “KfW Efficiency House 40 EE” standard. It is supplemented by a listed live-in signal box upgraded to...

GARBE Industrial Real Estate GmbH (“GARBE”), one of the leading specialists for logistics and industrial properties in Germany and elsewhere in Europe, raised approximately 400 million euros in equity among German and international investors for its investment fund, “GARBE Logistics Real Estate Fund Plus III” (“GLIF+III”). The Luxembourg special AIF (SICAV-RAIF) without maturity is an Article-8 fund with a manage-to-ESG strategy. With a planned investment volumes of five billion euros, it is GARBE’s largest pan-European fund for institutional investors to...

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the first close at €137 million of its third flagship fund, Mitiska European Real Estate Partners 3 (MEREP 3), giving the fund over €270 million in immediate investment capacity. MEREP 3 aims to substantially increase the fundraising and plans further closings in the next 12 months. This third vintage fund continues Mitiska REIM’s focus on the accelerating opportunity in convenience real estate across Europe, targeting grocery-anchored...

Dutch pension fund manager PGGM and Olmar have acquired the first asset for a newly created European port infrastructure investment venture. PGGM said it will hold a controlling interest in the new joint venture with the founders of logistic service provider Olmar holding the remaining interest. For the maiden deal, the partnership has invested an undisclosed amount to buy a storage and transhipment facility of the seaport near the Finnish city of Pori. PGGM and Olmar said they plan to...

Investment manager Barings has appointed Georgia Videan as associate director of loan closing in Europe & APAC, and Imogen Waters as ESG analyst in its European Real Estate Equity and Debt division. Joining the Barings Real Estate team in London, Videan has most recently been part of the property funds team at Gresham, the leading independent Australian-owned advisory and funds management business. In that role, Videan’s responsibilities included drafting and presenting investment papers and liaising directly with core investors on...

Global real estate advisor CBRE has announced the appointment of Amanda Stevenson as head of Investor Strategy within its ESG Consultancy team. Stevenson joins from Adapt Sustainability Consulting Limited, a boutique sustainability consultancy offering ESG services to real estate, asset management and technology companies. In her role as founder and director, she was responsible for developing a holistic ESG strategy service offering that focused on identifying ESG initiatives that would improve performance, minimize risk and ultimately support a client’s overarching...