Industry News

Nuveen Real Estate has raised an initial €150m from “several German institutional investors” for its new European debt strategy which seeks to raise €500m. The investment manager disclosed that the first close of its fourth debt strategy in the European commercial real estate debt series was backed by a number of unmanned German institutions alongside Nuveen’s parent company, TIAA. Nuveen said the latest fund is the firm’s first pan-European debt strategy in the series. Christian Janssen, the head of commercial...

Global real estate investment manager AEW has acquired Alcora Plaza, a prime, grocery-anchored retail park in Parque Oeste, Madrid in Spain. Financial details were not disclosed. The asset was acquired on behalf of one of AEW’s funds from Goldman Sachs Asset Management, who purchased the former Ikea store in 2017 and transformed it into a multi-tenant retail park. Alcora Plaza comprises 16,400 m2 of recently refurbished space divided into fourteen retail units, alongside a food court, recreational area and external...

Global real estate investment company Kennedy Wilson has acquired a diversified portfolio of 20 UK urban logistics assets totalling 1.3 million ft2 (120,800 m2), via an off-market transaction with UK logistics specialist, Leftfield, for $287 mln (€267 mln). Kennedy Wilson has a 20% ownership in the portfolio and invested $24 mln of equity in the transaction. The industrial properties are situated in key urban logistics locations across the UK, including London and the South East, Yorkshire and the Midlands. The...

AXA IM Alts, a global leader in alternative investments with c.€188 billion of assets under management, announces that it has secured two new tenants at the landmark TechnoCampus office complex in Berlin, Germany. AXA IM Alts acquired TechnoCampus in 2018, on behalf of clients, from Caleus TechnoCampus Berlin GmbH, who retains a minority stake. AXA IM Alts has since developed two further state-of-the-art buildings on the complex, which now totals 62,000 sqm of highly sustainable Grade A office space across...

M&G Real Estate has bought the RIO office building in France’s capital from Ardian for €271m. The RIO building, located in the Monceau Business Area of Paris, offers 8,676sqft of lettable area across eight floors. M&G Real Estate said the asset was acquired by its €5.2bn European Property Fund. David Jackson, manager of the M&G Real Estate European Property Fund, said: “This landmark asset further strengthens our portfolio of French office assets and reinforces our goal to acquire larger lot...

Octopus Investments funds have bought Cheyne Capital’s majority stake in UK housebuilder Elivia Homes for an undisclosed amount. Cheyne Capital first invested in Elivia Homes, formerly Vanderbilt Homes, in 2014. Cheyne Capital said the Octopus plans to continue Elivia’s growth, with the aim of transforming it into a £250m (€293.6m) turnover business, delivering over 600 design-led and sustainable homes per year. Rob Turner of Cheyne Capital Real Estate, said: “A key tenet of Cheyne’s real estate strategy has been to...

BNP Paribas Real Estate Investment Management (REIM) Belgium has acquired the Opera III residential building in Brussels, Belgium. Financial details were not disclosed. The deal was conducted on behalf of open-ended pan European fund Afer Pierre SC (managed by BNP Paribas REIM) and Afer Pierre Holding Belgium. BNP Paribas purchased the asset's owner, Konkel Properties. The 3,848 m2 property comprises 33 large apartments spread across eight floors that are almost fully occupied and let to both Belgian and international clients...

HIH Invest Real Estate (“HIH Invest”) just acquired a property of 7,050 square metres from the Lange Family Office (LP MG GmbH) on behalf of its second logistics real estate fund. The acquisition took the form of an asset deal on behalf of “Deutschland+ Core Logistik Invest,” an open-ended special AIF managed by HIH Invest. The property on Hamburgring 30 in the city of Mönchengladbach in western Germany represents an ESG compliant newly constructed building that is fully let to...

Barings has sold two logistics assets near in Italy to real estate manager Kryalos SGR for an undisclosed amount. Barings said the fully-let warehouses, located in Cavenago and Cambiago, were sold through an Italian real estate fund managed by Savills IM. Barings acquired both warehouses in 2019, as part of a core strategy on behalf of a separate account for Asian clients. Marco Corti, managing director and Italian country head at Barings Real Estate, said: “Having executed our business plan...