Industry News

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...

Real estate investment manager Round Hill Capital has invested €183m in three accommodation deals in Spain. Round Hill said it has acquired the 400-bedroom Hotel Florida Norte hotel being redeveloped in Madrid for €120m, forward funded a 180-student bed residence in Madrid worth €30m and has bought a 413-bed student residence in Seville for €33m. Round Hill said acquired student accommodation will add an additional 593 student beds to Round Hill European Student Accommodation (RHESA), the European PBSA joint venture...

CBRE Investment Management (CBRE IM), on behalf of a fund sponsored by the firm, has acquired Project Strandhaven-Karlslunde, an 8,100 m2 affordable and sustainable residential asset in Karlslunde, Greve, Greater Copenhagen. The asset is newly built and already fully let; it comprises 108 residential units, each with its own balcony or terrace, and 96 car-parking spaces, meeting the affordability and sustainability requirements of the strategy. The building is well-served by local transport links. Marius Schöner, head of EMEA Residential Operator...

Belgian developer Immobel has announced the sale of The Woods redevelopment project in Hoeilaart, Flemish Brabant, Belgium to a family office. Immobel acquired the vehicles holding title to the site in 2020 and completed the redevelopment in early 2022. Since the acquisition and following the full refurbishment of the site, the occupancy rate increased from 40% to about 86%. Nestling entirely within the Sonian Forest in Brussels, The 10,000 m2 scheme offers an original and up to date working environment...

An investment fund managed by Nordic asset manager NREP has agreed to sell a residential portfolio of 942 apartments in Finland to local rental housing specialist Kojamo for an undisclosed amount. The portfolio consists of 13 assets in the Helsinki Metropolitan Area, Turku and Jyväskylä, with a leasable area of 32,000 m2. The assets, located adjacent to great local amenities and public transportation connections, have been developed by NREP and completed between the years 2017-2021. The portfolio is 100% BREEAM-certified...