Industry News

Moorfield Group (Moorfield) has added 11,427 square metres of warehouse space to its urban logistics portfolio with the acquisition of two assets for a combined sum of € 14 million. In Tinsley, Sheffield, Moorfield has completed a 10-year sale-and-leaseback agreement for a 5,667 square metres urban logistics unit with Tinsley Bridge Group. Built in 2015, the asset is located next to a site that is to be redeveloped to create an 18,580 square metre grade A logistics unit. In Northamptonshire’s...

European real estate asset manager Primonial REIM has announced the acquisition of a majority stake in Quinta Capital Partners SGR, an asset management company based in Milan, active in promoting and managing alternative regulated investment funds in the real estate, credit and private equity sectors. Under the deal, Quinta will be merged with Primonial REIM Italy S.p.A., Primonial's current asset management company operating in Italy. For Primonial REIM, the transaction is in line with its strategy to further develop its...

Aviva Investors is starting to see conditions reach a point whereby transactions are possible for the franchise again following a summer lull. George Fraser-Harding, head of pan-European funds, said the firm was in exclusivity on two deals in Spain which could take its build-to-rent (BTR) portfolio above €300 mln. He also said Aviva Investors had entered into exclusivity on further European logistics transactions. In addition, the company is eyeing expansion of its Living sector portfolio with more student accommodation investments...

Real estate investor and fund manager Cromwell Property Group has publicly revealed the reorganisation of its European operations as it seeks to be ‘more aligned’ with its investors’ strategies, and to improve efficiency in the current challenging market environment. The reorganisation involves the creation of a regional structure comprising two European regions, which will be headed by Pontus Flemme Gärdsell for Northern Europe, and by Michael Bohde for Southern Europe, both reporting directly to Andy Creighton, Head of Investment Management...

DTZ Investors, through its Co-Living Fund (Coliv), has completed a £110 mln (€128 mln) refinance deal for its Folk co-living portfolio with SMBC Bank International. The portfolio consists of three assets located across London, housing over 800 co-living studios. They include Florence Dock in Battersea; Folk at The Palm House in Harrow; and Folk at Sunday Mills in Earlsfield. All three assets have achieved full occupancy. Folk Co-living provides high-quality studio apartments and access to on-site amenities. There is a...

Pan-European investor and asset manager M7 Real Estate has agreed to sell a 42,000 sqm commercial building comprising warehouse and office space as well as development land in Westerstede, northern Germany, to Ammerland Molkerei, a dairy farm cooperative. The sale has been completed on behalf of Azure, a separate account mandate, which is close to being fully exited. Financial details were not disclosed. M7 acquired the asset in 2020 and, having identified that the building presented an attractive opportunity for...

Germany's BC Partners Real Estate (BCPRE) has acquired an existing light industrial building leased by Infineon Technologies, alongside a neighbouring site it already owns. The seller of the existing building is WP Carey. BC Partners will team up with Garbe Institutional Capital as operating partner to further develop and manage the investment. The site, located in Warstein, North Rhine-Westphalia, will be further developed to include a new building in timber hybrid construction to KfW 40 standard, aiming for BREEAM Excellent...

Dutch investment and asset manager Rubens Capital Partners has acquired a portfolio of 182 homes in the Netherlands from Patrizia on behalf of one of its funds. Rubens purchased the 'Granite' portfolio, comprising 21 residential complexes spread across the country, for €23.8 million, according to information filed with the Dutch Land Registry. The portfolio breaks down into 49 single-family homes and 133 apartments and covers more than 16,000 sqm. Rubens received legal assistance for the deal from Core Notariaat. Patrizia...

Ares Management Corporation, the US global alternative investment manager, has raised $3.3 bn (€3 bn) for investing in real estate secondaries via Landmark Real Estate Fund IX (LREF IX). Ares announced the takeover of Landmark in 2021 a year before record transaction volumes in the real estate secondaries market. The strategy is a global one to acquire seasoned assets at attractive discounts to market value and build highly diversified portfolios for its investors. The team comprises 26 dedicated real estate...