Industry News

Generali Real Estate has completed the acquisition of the high-quality office building Weidt Park Corner in Berlin, on behalf of the pan-European fund Generali Europe Income Holding (GEIH) managed by Generali Real Estate S.p.A Società di gestione del risparmio. The seller of the asset is DWI Group, a renowned developer based in Hamburg. The eleven-storey Weidt Park Corner building comprises around 12,600 square metres and is located as a landmark on Otto-Weidt-Platz, the most central spot in Berlin’s emerging Europacity...

Legal & General Investment Management Real Assets (LGIMRA) has today announced, on behalf of Central Saint Giles Limited Partnership, its 50:50 joint venture with Mitsubishi Estate London Limited, that it has sold the iconic Central Saint Giles office development in London’s West End to Google for USD1 billion. The sale represents a strong exit from the joint venture vehicle for both investors after developing and owning the asset for more than 10 years. Central Saint Giles is one of London’s...

Europa Capital, the pan-European real estate investment manager, announces that it has acquired, in partnership with commercial real estate investor and developer ConvergenCE, Akadémia Business Center in Budapest. The acquisition has been completed on behalf of Europa Capital’s latest value add fund, Europa Fund VI. Located on the banks of the river Danube, on the corner of Akadémia and Arany János Street, this c. 12,500 square metres building sits within a lively and sophisticated neighbourhood which serves as the city’s...

The partnership between Norges Bank Investment Management and Prologis has acquired a portfolio of 14 logistics properties in the UK. The agreement was signed on 29 November 2021, and the transaction was completed on 3 December 2021. Norges Bank Investment Management paid GBP220 million for its 50 percent ownership interest. The portfolio is unencumbered by debt, and no financing was involved in the transaction. The seller of the portfolio is Prologis UK Logistics Venture, a joint venture between Prologis and...

The Schroder UK Real Estate Fund (SREF) has announced it has partnered with Zurich Investment Foundation Immobilien Europa Direkt (‘IED’, a Schroders Capital managed, pan-European strategy) to acquire “The Brewery”, a prime supermarket anchored, retail warehouse and leisure scheme in Romford, Greater London for GBP162 million in a 50:50 joint venture. The Brewery comprises a 21-acre site with 545,478 square feet of retail and leisure space anchored by national operators including a Sainsbury’s superstore, Nuffield Health, The Range, Boots, Pure...

PATRIZIA AG, a leading partner for global real assets, has acquired a newly built cold storage logistics asset near Milan, Italy, from Savills Investment Management SGR S.p.A., on behalf of its institutional clients through one of its flagship logistics funds. The c. 31,000 square metres cold storage asset was completed in Q2 2021 and is fully let to Kühne & Nagel, a leading pan-European 3rd party logistics company, and Movi.Log Srl, a frozen food distributor, with a WALT of 7.5...

Hines, the international real estate firm, is set to launch Hines European Property Partners (HEPP), its new diversified, open-ended core-plus fund focused on key European markets. Jorge Duarte, who joins Hines from Barings, has been appointed as Fund Manager. HEPP will leverage Hines’ expertise and boots on the ground presence in 16 offices across Europe to identify investment opportunities in Europe’s most dynamic urban centres and gateway cities. The Fund will seek to acquire and develop sustainable assets across a...

CBRE Investment Management, on behalf of a fund it sponsors, has acquired a portfolio of three logistics assets in a joint venture agreement with the developer and seller, MG Real Estate. The three assets are in different phases of construction and are located in Belgium, Sweden and Denmark. The portfolio will offer a total of circa 62,000 square metres of newly built, grade A high-quality warehouse space, all of which will be completed in line with CBRE Investment Management’s Sustainability...

COIMA SGR, a leader in the management of real estate assets for institutional investors, has purchased a retail building in Piazza XXV Aprile in Milan for EUR60 million from Eataly Real Estate S.r.l.. Subsequently, COIMA has signed a 21-year lease agreement with Eataly S.p.A. for the retail spaces of the building, which will see the popular gourmet shopping and dining concept continue to serve customers in Porta Nuova as part of the neighbourhood’s expanding retail and hospitality offering. The acquisition...