Industry News

Niam , in collaboration with Nordsten Development , has acquired 60,000 square meters of land for logistics development in Palmbohult, Örebro, Sweden. The property has a strategic location with good access to Stockholm, Oslo, and Gothenburg. Plans for the site include the construction of a state-of-the-art logistics facility of approximately 24,000 square meters. Construction is expected to begin in the fall of 2024, and the building will be environmentally certified according to BREEAM standards, aiming for an Outstanding rating. Source...

Real estate investor Altera Vastgoed N.V. ("Altera") has further expanded its retail portfolio with the acquisition of a convenience retail investment at Molenplein in Heerenveen. The complex comprises three retail units with a Jumbo and Aldi supermarket, an Action non-food discount store and five residential apartments above the stores. The complex was built in 1988 and renovated in 2016, when the retail area underwent a complete makeover. It occupies a strategic location directly adjacent to Heerenveen’s main shopping area. By...

Areim has acquired eight light industrial properties in Västerås in Sweden with approximately 17,000 sqm of lettable area. The properties are located in the Hälla and Hacksta industrial areas. With this acquisition, Areim establishes itself in Västerås, Sweden's sixth largest city, within the light industrial sector and expands outside the metropolitan regions. The properties are leased to 96 percent to a mix of attractive tenants. Areim is planning to develop the properties’ sustainability profile through, for example, the installation of...

The Aura office building in Helsinki has been completed and transferred to the holdings of open-ended special real estate fund UII EuropeanM. Union Investment acquired the planned prime office property in 2022 and has invested over EUR 78 million in the project. It is located in Ilmala, a rapidly developing modern district close to Helsinki city centre. The building offers some 11,700 sq m of rental space, of which around 9,000 sq m is devoted to offices. The highly flexible...

Madison International Realty, a leading real estate private equity firm, has acquired an 18.7% stake in the Heitman European Residential Investment Partners fund (the “Fund”). The Fund’s portfolio comprises residential rental units in Western Europe with a particular focus on Germany and the Netherlands. Madison’s investment supports Heitman’s business plan to create value for investors through targeted refurbishments, select asset disposals and unit privatisations. Alex Lukesch, Managing Director and Head of the European Investments at Madison, commented: “The residential sector...

Investment firm Ardian has entered the Spanish residential market by acquiring a Madrid office asset from Patrizia, which it plans to convert into luxury apartments. Ardian has invested an unspecified sum to buy the 3,000sqm property located at Calle Zurbarán 28 in Madrid’s Almagro district with a plan to convert the office space into a residential building consisting of 10 apartments and 40 parking spaces. Ardian said the transaction – which represents its first deal in the residential sector in...

German real estate investment manager Deka Immobilien has acquired two logistics properties from UK REIT Segro for an undisclosed sum. The assets include a distribution centre in Freiberg am Neckar, constructed in 2018, and a cross-dock facility in Erlangen, built in 2015. Both properties are fully leased to financially sound tenants. The Freiberg am Neckar property is located within the Stuttgart automotive logistics hub. This 11,320 square meters facility is leased to automotive supplier Craiss Generation Logistik which delivers Porsche...

Secure income fund manager AlphaReal has invested in a portfolio of 28 childcare facilities located across the UK on behalf of retirement provider Just Group. The transaction takes the total portfolio invested by AlphaReal on behalf of Just Group to over £500 million (€583 million) of long-income real estate and loan note investments. The most recent childcare investment provides long-term finance to help the continued growth of one of the UK’s largest family-run childcare operators, which is responsible for the...

Investment manager KGAL has added a timber-hybrid building to its German office portfolio. The €16 billion manager has invested an unspecified sum to buy the 5,300 square meters PLATINUM building in Wiesbaden developed by OFB. Construction of the timber-hybrid PLATINUM building concluded in 2023. KGAL said a long-term rental agreement with Hessen Agentur, a state-owned entity, provides secure, consistent cash flow for the asset. Source: realassets.ipe.com on the 14th of August https://realassets.ipe.com/kgal-expands-german-office-portfolio-with-platinum-purchase/10075184.article