Industry News

Commerz Real has sold the Paternoster Square office and commercial building in London to a consortium comprising CLI Dartriver and unspecified European family offices. Commerz Real said it sold the fully-leased 1,897 square meters asset, which was held within its open-ended real estate fund Hausinvest, but did not disclose the price. Source: realassets.ipe.com on the 6th of June https://realassets.ipe.com/news/commerz-real-sells-paternoster-square-office-in-london/10073685.article

UK affordable homes provider Vistry Group is selling 1,750 new homes to Blackstone ’s real estate arm and Regis Group. Vistry said the pre-sold portfolio, which will cost £580 million (€680.7 million) to develop, is concentrated in South East England. Construction of the first homes is expected to be finished by June 2024, with most of the homes completed within two years. Source: realassets.ipe.com on the 4th of June https://realassets.ipe.com/news/blackstone-and-regis-group-acquire-1750-new-uk-homes-from-vistry/10073636.article

LaSalle Investment Management ’s fourth European real estate debt fund has provided a €150m loan facility to refinance a portfolio European logistics assets owned by Brookfield . The manager’s LaSalle Real Estate Debt Strategies IV is refinancing the portfolio of 17 big-box logistics assets owned by Brookfield funds. Brookfield has formed a partnership with development managers Panattoni and Logistik Service. The venture will focus on identifying potential projects, development activities, and leasing agreements across Sweden, Spain, Germany and Poland. The...

Bouwinvest Real Estate Investors has appointed Paul van Stiphout as Fund Manager Dutch Residential Investments effective 1 June 2024, after he filled this position on an interim basis. In his new position, Paul is responsible for the investment strategy and fund management of the Bouwinvest Dutch Institutional Residential Fund. Source: press release sent 3rd of June

Arrow Global is strengthening its servicing offering in Germany by acquiring a local real estate developer in a deal expected to help the firm’s regional expansion in servicing and equity investments. Through its German business, the alternative asset manager, specialising in credit and real estate, has invested an unspecified amount to acquire the operating platform and assets of Interboden, a company founded in 1950. Interboden, which specialises in residential development, currently manages projects with a gross development value of over...

Swedish real estate investor Revelop has acquired 11 assets in two separate transactions after securing more than SEK 2,4 billion in new equity commitments for its latest flagship value-add fund. One of the transactions is a SEK 900 million acquisition from Castellum. Revelop, the Stockholm based Sweden focused real estate investor has secured new equity capital commitments exceeding SEK 2.4 billion for its latest flagship value-add fund. The capital comes from a combination of existing and new institutional investors, with...

Global private markets firm Partners Group has entered into an agreement to sell a Swedish retail warehouse portfolio to Svenska Handelsfastigheter for SEK 1.3 billion (€110 million). The portfolio was held in the Sveafastigheter Fersen and Sveafastigheter Fersen II structures and has been managed by Brunswick Real Estate on behalf of Partners Group since 2015. Closing of the transaction is planned for 30 May 2024. The high-quality portfolio representing 85,200 square metres of retail space comprises seven properties located in...

The transaction includes the acquisition of the 5-star Marriott Praia d’El Rey Hotel, two leading 18-hole golf courses and the management of a large rental pool of apartments in Praia d’El Rey. Purchase complements Azora’s current portfolio of 6 leading hotels in Portugal, including Vilalara, Tivoli Vilamoura, Tivoli Carvoeiro, Tivoli Alvor, The Lodge Hotel and the future opening of Hotel das Luzes, and highlights Azora’s strong conviction for the Portuguese tourism sector. Azora will continue strengthening the positioning and quality...

US fund manager Nuveen Real Estate has gone for a subsector of the Nordic housing market as it seeks to deploy €350 million of dry powder for a value added strategy. Its debut single housing investment for its European value add fund is the €42 million capital commitment for an initial 141 units across four single family estates in Helsinki, Finland. The deal comes as it extends fundraising for the whole year, and while the firm focuses on 'mispricing and...