Industry News

Investment firms KKR and The Baupost Group have partnered to acquire a portfolio of 33 Marriott International hotels across the UK from a subsidiary of the Abu Dhabi Investment Authority. KKR, through its value-add and opportunistic European real estate strategy, alongside the Baupost have invested an unspecified amount to buy the 6,500 key portfolio of full-service properties located in London and other regional cities including Edinburgh, Glasgow, Leeds and Liverpool. KKR said its European hospitality platform Amante Capital will manage...

Areim has acquired four light industrial properties in Sollentuna Municipality, north of Stockholm, with approximately 20,000 sqm of lettable area. The properties are located in the Edsberg industrial area. With this acquisition, Areim increases its light industrial portfolio in Greater Stockholm to roughly 125,000 sqm. The properties are leased to 92 percent to a mix of attractive tenants and is located among residential properties and a local centre with proximity to the motorway. Areim is planning several maintenance and refurbishment...

Property in the UniImmo: Europa portfolio Union Investment is to refurbish the "Le Befane" shopping centre in Rimini, Italy, for a further EUR 10 million in order to consolidate and further expand its strong market position. Completed in 2005, "Le Befane" is one of the largest shopping centres in the Rimini region on the Italian Adriatic coast. 129 shops, including a hypermarket, are spread over two levels. A food court and a large cinema with 12 screens on the upper...

Property investor Nordika has invested SEK400 million (€35 million) in Vendus Sweden, making it the majority shareholder in the real estate company that focuses on grocery retail assets. Vendus invests in assets with stable cash flows across Sweden and has created a platform of 51 properties, with around 77% of rental income derived from key players in the grocery sector, with an asset value of SEK2.3 billion. Vendus said it is raising equity to capitalise on “attractive investment opportunities” and...

Apollo -managed funds have provided a €113.5 million loan to Valor Real Estate Partners and QuadReal Property ’s European logistics investment partnership for a portfolio of French assets. Valor said the three-year loan, with extension options, has been used to finance a 120,000 square meters portfolio of seven urban logistics assets in Paris, Lyon and Marseille. The financing marks the first transaction between the two parties. Source: realassets.ipe.com on the 29th of November https://realassets.ipe.com/news/valor-quadreal-secure-113m-apollo-loan-for-french-logistics-portfolio/10126619.article

Real assets investor Azora has re-entered the European student housing sector with the acquisition of a portfolio of 12 assets in Spain from a real estate fund managed by EQT Exeter . The assets, spanning nine cities across the country, were acquired by an Azora purpose-built student accommodation (PBSA) vehicle from the EQT Real Estate II fund for an undisclosed amount. EQT Exeter built the portfolio when it teamed up with Grupo Moraval in May 2021 to acquire a premier...

Global Student Accommodation (GSA) marked its entry into Italy with the acquisition of the Trentacoste development site in Milan. The student housing real estate firm has invested an unspecified amount to acquire a 515-bed development site, describing the move as a step in advancing its investment strategy to expand its presence in key cities across Italy and Europe. Trentacoste will be operated by Yugo, GSA’s global operating partner. Source: realassets.ipe.com on the 27th of November https://realassets.ipe.com/news/global-student-accommodation-makes-italian-debut-with-milan-deal/10126533.article

Kajima Europe has sold a 40,000sqm logistics facility in the Netherlands to MEAG , the asset management arm of insurer Munich Re. Kajima said it has sold the fully pre-let logistics facility in Ridderkerk, near Rotterdam, without disclosing any financial details. This project marks Kajima’s first of three planned logistics developments in the Netherlands, with additional projects located in Tilburg and Heerlen. Source: realassets.ipe.com on the 27th of November https://realassets.ipe.com/news/kajima-europe-sells-40000sqm-dutch-logistics-facility-to-meag/10126532.article

Henderson Park and Hines have sold the Grand Hyatt Athens hotel to funds managed by Blackstone Real Estate for €235 million. Henderson Park and Hines teamed up to acquire the hotel in 2017 when it was known as the Ledra Marriott. The duo then embarked on a significant upgrade and repositioning of the asset, capitalising on its heritage as being one of Athens’ top five hotels since its original construction in 1984. The acquisition marked both firms’ entry into the...