Industry News

European privately-owned real estate manager Redevco has appointed Veronica Gallo-Alvarez as head of Investment Management, effective July. Based in Paris and reporting to CEO Neil Slater, Gallo-Alvarez will be responsible for investment outcomes, transaction management and research & strategy. Gallo-Alvarez is to join Redevco in July from global asset manager abrdn, where she was head of Core European Funds responsible for multi-sector strategies investing in commercial pan-European real estate. Source: propertyeu.info on the 13th of June https://propertyeu.info/Nieuws/Redevco-hires-abrdn-exec-to-lead-investment-management-business/abe4245c-4012-498d-9af0-93fdfa276c95

The Catella European Residential III fund (CER III) has acquired a 177-unit fully rented student housing asset in Leipzig, in the eastern German state of Saxony for around €23 million from the Family Office Drengenberg. The acquisition of the 3,520 square meters asset takes CER III’s total assets under management to €800 million. The fund is managed by Berlin-based Catella Residential Investment Management (CRIM). The asset is located in a lively diverse neighbourhood populated by students, artists and sub-cultures with...

Slate Asset Management has expanded its real estate footprint in the Nordics with the acquisition of a NOK1.3 billion (€113 million) seafood refrigeration and distribution facility in Norway’s capital. The real assets investment manager said it has acquired the newly constructed World Seafood Center facility in Gardermoen from Oslo Airport City. Slate AM said the 55,000 square meters facility in Oslo is let to some of the largest seafood tenants in the world, including Mowi, under long lease terms indexed...

European real estate investment manager Azora has bought two hotels in the capital of Belgium on behalf of its APG-backed hotel and logding fund. The Madrid-based manager said it has completed the acquisition of the Hotel Berger and Hotel Jardin Secret hotels and two adjacent buildings to the hotels in central Brussels on behalf of its Azora European Hotel and Lodging Fund. Financial details were not disclosed. Azora said the two adjacent buildings provide the firm with an opportunity to...

Spanish real estate developer Kronos Real Estate Group is investing €127 million in one of the largest new housing developments in the Barcelona area. The project in the municipality of Sant Pere de Ribes will feature 500 homes, catering to both purchase and rental options, and will boast extensive green spaces. Kronos Homes, a brand under the Kronos Real Estate Group umbrella, will spearhead the construction. Source: propertyeu.info on the 7th of June https://propertyeu.info/Nieuws/Kronos-invests-127m-in-new-Barcelona-resi-project/4f3587c3-bd41-4010-9f2f-77d7893cdeb3

Real estate investment company Eurazeo Real Estate is in exclusive talks to sell most of its 70% owned hotel subsidiary Grape Hospitality's French properties. The buyer is a consortium consisting of a hotel operator and a real estate fund. The 23 hotels make up the bulk of Grape Hospitality's budget-friendly portfolio. Grape Hospitality manages over 10,000 hotel rooms across seven European countries, with 85 hotels they own and operate directly, and another 22 under franchise agreements. The sale is expected...

The Catella Logistics Germany Plus Fund (CLD+) has acquired a 35,000 square meters logistics warehouse at Business Centre Treeport in Rijsbergen to the south of the Dutch city of Breda and close to the border with Belgium. According to the Dutch land registry, the deal amounted to just over €35 million. The modern warehouse asset comprises 29,688 square meters of warehouse, 3,368 square meters of mezzanine/showroom space and 732 square meters of offices, and is designed to meet the highest...

Valor Real Estate Partners (Valor), Europe’s fastest growing last mile real estate specialist, has acquired a 12,632 square meters urban logistics property in Waddinxveen, near Rotterdam, from Wayland Real Estate. The deal amounted to around €27 million, according to the Dutch land registry. It follows Valor’s debut transaction last month in what is one of Europe’s dominant logistics markets, and where Valor has ambitions to significantly and rapidly scale. The single tenant property, which was developed by Wayland in 2021...

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