Industry News

The real estate multi-manager business of UBS Asset Management has anchored a UK residential income fund managed by Matter Real Estate. Matter said UBS had provided an initial £105 million (€121 million) to Matter UK Residential Income Fund (MUKRIF), a new vehicle that will invest in core single-family assets. The fund has been seeded with assets from Matter portfolio company Placefirst, which will also continue as a property manager. The fund’s initial assets include over 560 single-family rental homes located...

Cheyne Capital is planning to raise £7.5 billion (€8.6 billion) for two European real estate debt funds to capitalize on high interest rates and a retreat from bank lenders. The global alternative investment manager, through its Cheyne Real Estate Credit Holdings (CRECH) program, is seeking to raise £5 billion for its eighth Senior Loan strategy and a £2.5 billion hard cap for its ninth Capital Solutions strategy to target senior lending and recapitalization investments. The Senior Loan strategy will focus...

Catella Residential Investment Management (CRIM) has added 49 affordable apartments to its German residential investment mandate, which it manages on behalf of one of Germany’s largest cooperative banks. CRIM has invested an unspecified amount to buy the 4,154 square metres of apartments comprising four buildings in Düren, to the west of Cologne in North Rhine-Westphalia, from the Kloepfel Group. Source: realassets.ipe.com on the 22nd of November https://realassets.ipe.com/news/catella-expands-german-affordable-housing-mandate-with-4154sqm-acquisition/10070188.article

Swiss banking giant UBS has acquired 12-14 New Fetter Lane, a prime office leasehold in London's Farringdon neighbourhood, for £135 million (€155 million). The asset was sold by Nuveen Real Estate's Cityhold office partnership (CHOP). The leasehold has around 142 years remaining. The freeholder is City Corporation. The 15-storey office comprises ground floor retail accommodation with 12 upper floors of Grade A offices. The asset has some 142,500 square feet (13,200 square metres) of lettable space. Source: propertyeu.info on the...

Garbe Institutional Capital is expanding its management platform for food-anchored retail real estate with the acquisition of German manager GRR Real Estate. The deal involves Garbe taking over GRR Real Estate Management’s 80 team members and a portfolio of around 500 managed assets. Garbe, on behalf of an institutional fund, will also acquire 52 on-balance-sheet properties held by GRR as part of the transaction. Financial details were undisclosed. GRR Real Estate is an investment platform focused on the food-anchored retail...

Alternative investment manager AXA IM Alts has commenced construction work on a 30,000 square metres urban residential regeneration project in Northwest Milan, Italy. The Syre residential complex, located on Via dei Rospigliosi, will span eight floors and comprise 142 social residential apartments, along with 124 apartments for market rental. In line with its commitment to sustainable development, AXA IM Alts will equip the apartments with renewable energy sources and provide electric vehicle charging stations for residents. Additionally, a 10,000 square...

Swiss Life Asset Managers is expanding its development portfolio with the acquisition of a 36,000 square metres development site in Laichingen, south-east of Stuttgart in Germany. The company plans to develop a modern logistics property on the plot, with a rental area of more than 21,000 square metres. Called Stuttgart Southeast 1, the project is planned to kick off in the first quarter of 2024 with completion planned for the fourth quarter of 2024. Source: propertyeu.info on the 16th of...

Bouwinvest, and sector pension funds ABP and bpfBOUW announce that they will collaborate in the Dutch Social Impact Real Estate Partnership. ABP has committed €250 million and bpfBOUW another €150 million to the partnership. The partnership aims to add and preserve affordable (care-related) homes in the social and low-middle rental segment in the Netherlands. The partnership’s focus will be on housing for groups of people who are currently finding it difficult to find a home. Source: Bouwinvest.com on the 16th...

Global alternative asset manager Tikehau Capital has acquired a supermarket portfolio in Italy in a €37 million sale and leaseback. Tikehau, through an Italian fund managed by Investire, has acquired the five properties located along the Italian Tuscan coast from grocery operator Unicoop Tirreno. As part of the deal, a new triple-net lease with a 24-year term has been agreed with Unicoop Tirreno, Tikehau said. Source: realassets.ipe.com on the 14th November https://realassets.ipe.com/news/tikehau-and-unicoop-tirreno-agree-sale-and-leaseback-in-italy/10070022.article