Industry News

PGIM Real Estate has acquired a portfolio of six UK student properties from Unite Group. The real estate manager has invested an unspecified amount on behalf of its European core-plus strategy to buy the purpose-built student accommodation (PBSA) properties, comprising 3,000 beds in Birmingham, Cardiff, Leicester, Liverpool, Nottingham and Sheffield. Source: realassets.ipe.com on the 13th of May https://realassets.ipe.com/news/pgim-real-estate-buys-six-uk-student-properties-from-unite-group/10073237.article

German real estate specialist Deka Immobilien has acquired an office building in Dublin's city centre for €37 million. The property on 40 Molesworth Street boasts a prestigious address near Trinity College, Grafton Street, and St Stephen's Green. The office building will be added to the portfolio of the open-ended real estate fund WestInvest InterSelect, and is being sold by an institutional investor. Originally built in 1979, the property underwent a comprehensive renovation in 2017. It provides around 3,100 square meters...

Arrow Capital Partners , the specialist investor, developer and manager of real estate in Europe and Asia-Pacific, has acquired a 17,000 square meters warehouse on a ca. 50,000 square meters site in Trossingen, Germany, for its SIRE (Strategic Industrial Real Estate) joint venture with Cerberus. The asset, acquired from an owner-occupier in the retail sector, will become vacant in September and be available to let by the end of 2024 following a comprehensive refurbishment. The building currently comprises around 17,000...

Panattoni has increased its investment in its net zero carbon logistics park at Sittingbourne, England, to £170 million (€198 million) with the acquisition of an additional 10-acre site at G Park Sittingbourne. Panattoni is preparing to submit a planning application for a 128,050 square feet unit on the new site. Construction of this second phase of development is expected to start in the fourth quarter of this year, with completion due in the third quarter of 2025. Panattoni is already...

Hearthstone Investments , a fund sponsor focused on affordable private rented housing in the UK, received regulatory approval to market its Hearthstone Residential Fund (“HRF”) to institutional investors in the Netherlands. Hearthstone Investments manages assets on behalf of UK Local Government Pension Schemes, as well as other institutional investors and oversees an income generating portfolio of over 1,800 homes across the UK. The Hearthstone Residential Fund will follow the same investment strategy as the fully deployed Hearthstone Residential Fund 1...

KKR and European hotel real estate investor Amante Capital have acquired a 132-bedroom asset in the UK’s capital from Bartek Holdings for an unspecified amount. The acquisition of the Park Grand London Kensington Hotel is the first transaction by investment firm KKR and its European hospitality partner Amante Capital. KKR is investing through Real Estate Partners Europe II, the firm’s second European real estate fund that targets value-add and opportunistic investments in Western Europe. Source: realassets.ipe.com on the 8th of...

Niam and Kuuskodit Investment Management announce the launch of a new joint venture, an initiative to enhance family living through the development of terraced family houses, tailored for the rental market in the Finish growth triangle HMA, Tampere and Turku. The investment strategy focuses on providing optimal living spaces for families, setting new standards in the design and functionality of rental residential housing. To initiate the investment strategy, the joint venture has acquired a seed portfolio from Toivo Group, comprising...

With hospitality assets growing in popularity, Ares Management has acquired an 18-strong hotel portfolio in a deal valued at £400 million (€464 million). The UK portfolio totaling 3,028 rooms of midscale- and economy-quality is owned by Landsec and let to AccorInvest. But AccorInvest and Ares have negotiated a surrender of the leases enabling Ares to not only take possession but transfer all operations. Ares is working with hotel operating partner, EQ Group. The assets are mainly in Central London by...

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 the majority being international. Revelop has had a strong start to the investment year taking advantage of the market dislocation. In two individual transactions, a total of 11 assets comprising 70,000 square meters has been acquired, representing SEK 1 billion in...