Industry News

Garbe Industrial Real Estate GmbH has purchased a 420,000-square-metre plot of land in the Berlin area. A logistics centre with a total area of around 270,000 square metres is to be built on the site in Fehrbellin, Brandenburg (Ostprignitz-Ruppin district). Construction is expected to start in the fourth quarter of 2027 once building rights have been obtained and the site has been developed. The investment volume amounts to approx. 290 million euros. Source: garbe-industrial.deon the 19th of December, 2023 https://www.garbe-industrial.de/en/garbe-industrial-real-estate-secures-huge-site-near-berlin/

BNP Paribas Real Estate Investment Management (REIM) has bought a prime office building in Central London from Delancey Real Estate for £ 42.5 million (€ 49.3 million). The deal marks the first UK acquisition for BNP Paribas REIM’s European Impact Property Fund (EIPF). The building in question, 25 Victoria Street, offers 4,984 square metres of office, retail, and leisure space across nine floors. It features multi-tenancy with six occupants and flexible floorplates ranging from 229 square metres to 623 square...

PATRIZIA has acquired a portfolio of two urban logistics assets in Italy’s established industrial submarkets outside Rome and Bologna. PATRIZIA, through its PATRIZIA Logistik-Invest Europa III fund, has acquired a portfolio of two urban logistics assets in Italy’s established industrial submarkets outside Rome and Bologna. The portfolio has a 100% occupancy rate with major international tenants providing resilient income and future strong rental growth. The newly built assets have been developed to high ESG standards, with EPC A ratings, BREEAM...

A joint venture between Tishman Speyer, RB Real Berlin Group and CESA Group has started construction of the 61,200 square metres mixed-use LXK Campus in Berlin's Friedrichshain-Kreuzberg district. The project is part of Tishman Speyer European Real Estate Venture VIII, the pan-European value-add fund of the international project developer, owner, operator and investment manager of first-class real estate. Hamburg Commercial Bank has contributed to the financing of the project; the parties agreed not to disclose any details. The LXK Campus...

German asset manager and investment firm Hahn Group has launched a new closed public alternative investment fund through its capital management company DeWert Deutsche Wertinvestment. In its first deal, the real estate fund 'Hahn Pluswertfonds 180 – Fachmarktzentrum Landshut' purchased a specialist retail centre in Landshut, Bavaria, from the Hahn-Spezialfonds German Retail Fund, for € 28.4 million. DIY store operator Bauhaus is the main tenant and represents 87.9% of the total rental income, while food discounter Penny accounts for the...

Invesco Real Estate, the global real estate investment business of Invesco, has sold a 73,500 square metres Hainichen logistics asset, which it completed in December 2022 and is fully let to a major German retailer, to a fund managed by Hines. Financial details were not disclosed. The sale was transacted on behalf of Invesco’s European Value Add Fund II (EVAF II). The disposal is EVAF II’s first exit in Germany and second overall. EVAF II is the second fund in...

DWS has acquired a residential development in Copenhagen for its pan-European core real estate fund. The residential complex, comprising 361 modern, small and medium size apartments has been purchased for Europe II, an open-ended institutional fund. The apartments, aimed at families and young professionals, are located in the developing residential area of Brønshøj-Husum in the north west of Copenhagen. DWS said the area had excellent amenities including schools and recreational areas and good connectivity to Copenhagen’s city centre. Source: realassets.ipe.com...

Long Harbour will expand its living sector focus into PBSA through a joint venture with Rosethorn Capital Partners. The strategy will be led by Rosethorn CEO Stephen Rigby, who brings more than ten years’ experience in PBSA. Stephen was a founder, and Chief Investment Officer at Student Roost which was acquired by GIC and Greystar in 2022 for £ 3.34 billion. The properties will be managed by Long Harbour’s residential management platform Way of Life, which will add PBSA to...

BlackRock Private Markets has raised € 774 million in a first close for its latest value-add real estate fund. The capital has been provided by a range of institutional investors, including new clients and investors from previous vintages. Europe Property Fund VI (EFVI) will invest in “the most liquid markets in Europe”, such as the UK, France, Germany, the Nordics and Spain, BlackRock said, adding that it will target high-quality assets aligned with the structural “mega forces” driving the economy...