Industry News

AEW has acquired a newly built logistics asset in Germany on behalf of its open-ended pan European core fund. The manager said the fully let 50,200 square metres asset in Hanover-Sehnde was acquired on behalf of the Eurocore fund. Source: realassets.ipe.com on the 27th of March https://realassets.ipe.com/news/aew-acquires-logistics-asset-in-germany-for-eurocore-fund/10072449.article

Branded business and industrial parks owner Sirius Real Estate has added a £48.25 million (€56.4 million) asset to its UK portfolio. Sirius Real Estate, which owns and operates assets in Germany and the UK said it has agreed to buy Vantage Point Business Village, a multi-let business park in Gloucestershire, in a deal that represents a net initial yield of 10.2%. As part of the acquisition, Sirius Real Estate has also acquired a photovoltaic solar business from the vendor which...

Union Investment has sold the Stockholm office building, Sthlm Hub, also known as Uggleborg 14, to Swedish property investor Vasakronan for approximately €62 million. The purchase price is higher than the most recent valuation though the seller did not provide guidance on when the most recent valuation was or at what value. Vasakronan is owned by four of Sweden's national pension funds and already owns the neighbouring property. Built in 1967 and extensively modernised in 2016, the building has been...

Native Land has secured an £18.5 million (€22 million) funding arrangement with Grosvenor for St Mary’s Wharf, a 200,000 square feet (18,500 square meters) mixed-use development on brownfield land in the centre of Guildford. The agreement marks the start of construction work on the residential-led town centre regeneration project. St Mary’s Wharf is situated on a 1.7-acre (7,000 square meters) riverside site and was formerly a Debenhams department store. The site is located in a strategic position where the town’s...

Grosvenor has made £46 million (€53.7 million) in new UK residential debt transactions and plans to deploy £900 million in the sector over the next 10 years. Grosvenor said its UK property business is expanding its residential debt strategy with a plan to allocate the capital into debt funding to ”support housing delivery, comprised of new funding and recycling capital from existing and future lending”. The debt strategy, which was launched in April 2023, has made new transactions comprising a...

Ares Management is acquiring a six-storey building in UK’s capital from Helical for £43.5 million (€50.8 million). London-listed Helical said it has agreed to sell 25 Charterhouse Square, EC1 to a real estate fund managed Ares, at a price that represents a 6.5% discount to the 45,000 square feet asset’s 30 September 2023 book value. Source: realassets.ipe.com on the 25th of March https://realassets.ipe.com/news/ares-snaps-up-london-office-from-helical-at-65-discount/10072392.article

Oxford Properties Group (“Oxford”) and Logistics Capital Partners (“LCP”) have secured planning permission to develop c. 340,000 square feet of technologically advanced and environmentally sustainable logistics space on a 15-acre brownfield site adjacent to Heathrow Airport. The much-needed new space will be delivered across two units of 200,000 square feet and 140,000 square feet, respectively. The project has been designed to high sustainability and quality standards, including net zero carbon in construction and operation as well as 15-metre eaves, 50-metre...

Schroders Capital, the private investment arm of Schroders Group, has named industry veteran Ingo Heinen to the new position of global head of business development and product. He will collaborate with Schroders' client group to expand their private markets business globally, including attracting new investors and building partnerships. Heinen will also lead the creation and management of Schroders Capital's investment products and services, focusing on delivering top-tier investment options for clients. Previously, he held leadership positions at Intermediate Capital Group...

Real estate investment firm Edmond de Rothschild REIM has purchased a newly built housing complex in Newbury, England, from Nelson Group. This £34 mln (€40 mln) acquisition marks a complete investment of Funding Affordable Homes's (FAH) latest capital raise. Sterling Gardens offers 119 affordable apartments (one, two, and threebedroom) spread across six buildings. This project provides much-needed affordable housing options, including: 27 apartments for social rent, 62 apartments for affordable rent, and 30 apartments for shared ownership. The recently completed...