Industry News

Partners Group has agreed to acquire a portfolio of prime residential properties in Milan, from Fondo Pensione Cariplo. The portfolio has a Gross Asset Value of over €260 million, including a significant Capex programme. It consists of six standing assets with 590 units that have a Net Leasable Area of more than 50,500 square meters. The assets include modern as well as value-add mixed-use towers and iconic neoclassical buildings that are largely located in the historic center of Milan. The...

Real estate investment manager Nuveen Real Estate has appointed Morten Olesen as senior director, head of housing and alternatives in Germany. The move strengthens Nuveen’s commitment to expanding its residential and alternative investments in the German market. Based in Frankfurt, Olesen will report to Jasper Gilbey, head of housing and alternatives in Europe. He brings over a decade of experience in the German real estate sector, having previously held senior roles at FFIRE Immobilienverwaltung AG, where he led on transactions...

AEW has acquired a 255-unit residential portfolio comprising seven assets in Frankfurt on behalf of a separate account core mandate for a German investor. The manager said these “high-quality properties” are located in “sought-after” locations in Frankfurt, including Nordend, Niederrad and Eschersheim, targeting young professionals and families, with nearby local transport providing access to the city centre via the U/S-Bahn and tram system. The portfolio offers a mix of one- to three-bedroom apartments spread across seven properties. Six of the...

AEW has been awarded a new separate account mandate from a German pension fund for the establishment of a value-add real estate portfolio. The investor has committed an initial €150 million of equity that will target opportunity-driven and value-add niche investments across sustainable growth sectors. With leverage, the EU’s Sustainable Finance Disclosure Regime (SFDR) Article 8-compliant mandate will have a total investment capacity of €375 million and will mainly target investments in the major European markets. Source: realassets.ipe.com on the...

Logistics real estate fund manager Clarion Partners Europe has boosted its German presence with the acquisition of a 100,000 square meters warehouse in Dieburg, near Frankfurt. The property was purchased from German investment manager Union Investment, for one of Clarion's co-mingled funds. The Hamburg-based investment manager held the property in the portfolio of one of its open-ended funds for 10 years. At the time of construction, the project was valued at €50-60 million. Completed in 2015, the fully generic warehouse...

Sophie van Oosterom is to leave Schroders to head global real estate investments at Canada Pension Plan Investment Board (CPP Investments). Van Oosterom, who has been global head of real estate at Schroders since 2021, will be replaced by head of UK real estate Nick Montgomery. CPP Investments, a C$646bn (€428bn) Canadian pension fund with C$45.5bn in real estate assets, has been searching for a replacement for a new global head of real estate after the departure of Peter Ballon...

Goldman Sachs Alternatives, investing through its vintage strategies, has backed Greykite ’s European real estate fund. The Greykite European Real Estate Fund I has secured a limited partner (LP) commitment from the vintage strategies at Goldman Sachs Alternatives. While the exact amount is undisclosed, it is understood to be approximately €50 million. The Goldman Sachs vintage strategies provide liquidity solutions to private market LP investors and general partner fund managers. In June this year, Goldman Sachs raised $3.4 billion (€3.1...

Nuveen Real Estate has appointed Batih Van Leer and Stefano Rubini as managing directors and co-heads of its Strategic Transactions team in Europe. The new appointments align with Nuveen Real Estate’s focus on sourcing and executing high yield investment opportunities across all real estate sectors, and will see Batih and Stefano working in partnership with Nuveen’s existing vertically integrated sector specialist teams across Europe. They will also oversee Nuveen’s European value add series, including capital raising and deployment for an...

HIH Invest Real Estate 's new institutional investment fund just made the first investment by committing €630 million to a living portfolio of 14 assets. The vehicle was launched together with the Vonovia housing company. HIH Invest holds an interest in the fund via a regulated AIF and is the majority shareholder representing a club of institutional investors. Vonovia will handle the property management while HIH Invest will act as asset manager and fund manager. The acquisition involves 14 property...