Industry News

Sirius Real Estate, the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany and the U.K., has completed on the acquisitions of two industrial assets in the U.K., in Banbury, just north of Oxford, and Wembley, for just over £31 million, representing a 9.2% net initial yield (“NIY”) including acquisition costs. The acquisitions will add more than 492,000 sq ft of light industrial space to the Group’s U.K. portfolio, and have...

PGIM Real Estate is acquiring the real estate and operations of Signature Senior Lifestyle (“Signature”), a best-in-class owner, developer and operator of senior housing in the UK, subject to finalization. The acquisition was made on behalf of PGIM Real Estate’s European value-add strategy, in partnership with Elevation Advisors LLP (“Elevation”) to source, structure and execute the transaction and asset manage the portfolio. The transaction is expected to close by the end of H1 2024. PGIM Real Estate is the US$210...

CapMan Residential Fund acquires a forward funding project in Ursvik, Sundbyberg. The project is situated 10 km north of Stockholm city center and comprises 289 rental apartments, an underground parking garage with 85 parking spaces and two small commercial premises. The project is acquired from Reliwe, and the development and construction will be managed by Reliwe and Consto with expected completion in early 2027. Ursvik is a strong location in one of Sweden's fastest-growing municipalities and offers excellent public transport...

Union Investment’s commercial property funds continued to prove their worth as solid investments in the first half of 2024. Despite a challenging market backdrop, open-ended real estate funds Unilmmo: Global and UniImmo: Deutschland paid out healthy distributions to their investors that were around 11 per cent up on the previous year. In mid-June, the distribution from UniImmo: Global was EUR 1.00 per unit, while the distribution made by UniImmo: Deutschland was EUR 1.90 per unit. UniImmo: Europa, which makes distributions...

AXA IM Alts, a global leader in alternative investments with €184 billion of assets under management, acting on behalf of clients, and Sierra, a multinational fully vertically integrated real estate player, announce the creation of a Joint Venture for the development of a state-of-the-art office building that will be located on top of the Centro Colombo shopping centre in Lisbon. The c. 35,000 sqm office scheme will be the third office building to be added to the 173,000 sqm Colombo...

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the opening of a new retail park in Jastrzębie Zdrój, a city of 90,000 inhabitants in southern Poland. Developed in partnership with Karuzela Holding and owned in joint-venture with the FRI 2 fund, this latest opening is the third retail park development opened in Poland by Mitiska REIM and Karuzela Holding in the past nine months. Conveniently located near the city center and close to both...

Stichting Pensioenfonds voor de Woningcorporaties (SPW), (Dutch pension fund for housing corporations) has appointed a.s.r. real assets investment partners as real estate oversight manager. a.s.r. real assets investment partners will, in that capacity, transform the existing real estate portfolio on behalf of SPW into a predominantly European unlisted portfolio, and ultimately manage it actively. SPW’s new portfolio will have a size of at least € 1 billion with a firm focus on Dutch residential properties, while also allowing for global...

Edmond de Rothschild Real Estate Investment Management (REIM) has completed the Lace Market Quarter build-to-rent development in Nottingham for its UK residential investment platform. Located at 10 Short Hill, the development is a partial refurbishment of Grade II-listed buildings and a partial new build. It provides 117 studio, one and two-bed apartments for rent across four adjacent blocks, linked by a central, communal landscaped courtyard. The unit mix along with 27 lower ground parking spaces meets the strong demand in...

Leading Nordic real estate investor Nrep has announced the construction of a six-storey timber residential building in Nordhavn (North Harbour), Copenhagen’s new sustainable harbourside city district. The 13,100 sq m development will have the lowest ever carbon emissions for a building over four floors in Denmark due to its wooden construction. Denmark has a long history of sustainable architecture and green construction practices. The country has just passed new legislation that further tightens the level of CO2 that is permitted...