Industry News

KKR and Etche, KKR’s logistics real estate platform in France, have announced the acquisition of the Scott logistics portfolio from Ivanhoé Cambridge for an undisclosed amount. The transaction, comprising five buildings with a total area exceeding 160,000 sqm, is KKR’s first in France via its Core+ real estate strategy, and fourth for the strategy in Europe this year following UK, Finland and Sweden acquisitions. CA-CIB provided funding for the operation through a structured financing arrangement in the form of a...

Global investment manager Nuveen Real Estate has secured a further €40 million in capital commitments for its pan-European diversified value add strategy, from a Canadian institutional investor. The latest commitment will give the strategy in excess of €500 million of dry powder following initial capital secured last year from Danish pension fund Sampension, Nuveen’s parent company TIAA, and a further Danish institutional investor. Fundraising for the strategy will continue during 2023, and aims to provide a solution for institutional investors...

In the longer term, Shopper Park Plus plans to become one of the leading players by owning and operating one of the largest retail shopping park portfolios in the Central and Eastern European region. Shopper Park Plus which is targeting the BSE and plans to continue operating as a regulated real estate investment company following the successful listing of its shares, has a portfolio of 14 properties in Hungary and, through subsidiaries, 4 properties in the Czech Republic, acquired in...

Mitiska REIM, the leading specialist investor in European convenience real estate, has today announced the expansion of its joint venture partnership with Karuzela Holding with the opening of a new food-anchored retail park in the Polish city of Biala Podlaska. Featuring 28 units with a gross leasable area (GLA) of 17,700 sqm and parking for 860 cars, the new Biala Podlaska development has become the dominant retail scheme in the city of 55,000 inhabitants. Located on a highly visible site...

Real estate investor Altera Vastgoed NV has concluded a long-term lease agreement with Primera for community shopping centre Brouwhorst in Helmond. Primera is to lease a total of 217 sqm at Brouwhorst 44, with the grand opening scheduled for 28 October. In addition to Primera, a branch of Spare Rib Express will also be opening its doors at the centre mid-December, under the management of a new franchisee. For the retail unit of Brilmij Groep B.V., an expansion (to 138...

Varma participated in the global real estate sustainability assessment this year for the fifth time, scoring 87 points out of a possible 100. Varma’s score improved by one point from the previous year, representing the best score ever since Varma started GRESB reporting. That score earned Varma four stars out of five, i.e. the second highest rating. Varma performed extremely well in its GRESB peer group and reached the highest score in the group. The peer group consisted of seven...

UK-based social infrastructure investment specialist Newcore Capital is launching a new core-plus fund by the end of Q4 2023 with a target raise of £375 million (€430 million). The Newcore Sustainable Income Trust will focus on acquiring fully functional and attractively-priced sustainable real estate assets to create a diversified, income-producing portfolio. Newcore Capital believes that these social infrastructure assets are undervalued and can generate good returns for investors while also having a positive social impact. A circa £300 million pipeline...

Nordic real estate investment firm Nordika said on Thursday that it has raised SEK 2.35 billion (€200 million) from a group of global institutional investors for its fund IV. The capital raise is more than double the equity the firm raised for its previous fund, Nordika III and above its target of SEK 2 billion. 'In a market where fundraising is down 80%, it is a sign of strength, given Nordika’s historic top-tier track record,' the company commented. Nordika has...

Global investment firm King Street Capital Management said this week that it has raised over $1 billion (€950 million) of capital commitments at the final close of its third opportunistic real estate fund, Real Estate Fund III (REF III). REF III leverages King Street’s expertise in navigating periods of market stress and dislocation to invest in special situations and select high-conviction themes in the US and Western Europe, the company said. The fund targets opportunities where King Street can be...