Industry News

Aviva Investors Real Estate France, a subsidiary of Aviva France, has acquired an office building in Paris on behalf of one of its clients from the Paris Ile-de-France Chamber of Commerce and Industry (CCI). The property known as 18 Toudic is situated in the 10th arrondissement of Paris and was built in 1930. The former customs warehouse features Art Deco architecture. The asset will be fully restructured, in line with its original architecture, to offer approximately 6,500 m2 of office...

Union Investment has sold the Metso Outotec Office Campus in Espoo, Finland, to Corum Eurion, a fund managed by Corum Asset Management. The property, which was completed in 2014, offers 14,376 m2 of rental space and is fully let to Metso Outotec, a listed tech company in the machine and plant engineering sector. The parties agreed to keep the price confidential. The property had been acquired by Union Investment in 2012 for its UniImmo: Deutschland open-ended real estate fund through...

Italian asset manager Amundi has announced the acquisition of a EUR44 million mixed portfolio from Amundi Real Estate Italia SGR. The portfolio consists of four office properties and a tourist village – the Santo Stefano Resort on the island of Santo Stefano in Sardinia. The office properties are located in Milan (3) and Rome (1). The package was bought on behalf of a new fund invested by Czech property group CPI. Earlier this year, CPI the Italian arm of CPI...

A fund managed by Abrdn has acquired an office project in Helsinki from Nordic construction firm NCC for around SEK770 million (EUR70 million). The scheme, Fredriksberg D, is the fourth phase of NCC’s development project in the Konepaja district, downtown Helsinki. The project is expected to complete in the third quarter of 2022. Joachim Holmberg, business area manager, NCC Property Development, said: 'We have developed a unique office project in Fredriksberg, with a modern, sustainable design, sense of community and...

Group OTT, family office of Jean-François OTT, announces the acquisition of the former Campanile Cannes Mandelieu. The 97-room hotel is located right next to the Cannes Mandelieu airport, specialized in private flights. The hotel that offers a swimming-pool and large outdoor areas to its guests is surrounded by trees and is an ideal location for guests willing to work remotely or tourists visiting Cannes wanting to enjoy the quiet and relaxing surroundings. The property benefits from several demand generators such...

Edmond de Rothschild Real Estate Investment Management has acquired a modern light-industrial facility in Vossendonk, Etten-Leur, in the Netherlands, for an undisclosed amount. The facility at Munnikenheiweg 63 (Etten-Leur) comprises a modern production and warehouse complex and is located at businesspark Vossendonk, a multi-modal logistics hotspot located in between the ports of Rotterdam and Antwerp. The asset was acquired for the Edmond de Rothschild Euro Industrial Fund (EIREF) in a sale-and-lease-back transaction. The asset comprises a freehold plot of 27,500...

CapMan Nordic Real Estate Fund, a 2013-vintage value-add fund, has signed and closed several exits recently. The fund will start distributing carried interest once these exits are completed. At the end of December, the fund exited Vesterbrogade 80, a 7,955 m2 mixed-use property in central Copenhagen originally acquired in 2015, to COPI. The building has been refurbished under CapMan’s ownership with conversion of the currently unused attic space into apartments expected to be finalised in Q1 2022. At the end...

Generali Real Estate has completed the acquisition of 7R Park Kraków IX, a core logistics asset in Poland, located in the Krakow, on behalf of the pan-European Generali Real Estate Logistics Fund (GRELF) managed by Generali Real Estate SGR. The seller of the asset, which is situated in Kokotów, is 7R SA. This is the second transaction in the logistics segment in Poland, that Generali Real Estate has completed with 7R this year, after the acquisition of a warehouse complex...

German investment manager Deka Immobilien has acquired the Cubes office property in Düsseldorf from Axa IM Alts. Financial details were not disclosed. Axa IM Alts divested the property on behalf of a client. The office, which was completed in 2012 and is located at Cecilienallee 6–7, comprises a leasable space of 15,000 m2 and 225 parking spaces. It will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienEuropa. The three offset cubes that form the property have...