Industry News

JLL has appointed Ross Petar as head of operational real estate, value and risk advisory, EMEA. Petar will lead the EMEA operational real estate sectors including self storage, data centres, life sciences, healthcare, student housing and hotels & leisure. This strategic appointment highlights JLL’s commitment to deepening its market-leading sector expertise and connectivity at a time when clients need it most. Petar joined JLL in 2014 and led the UK and northern European hotels & leisure team, before being promoted...

Edmond de Rothschild Real Estate Investment Management (EDR REIM) has revealed plans to further grow its real estate debt platform, to further capitalise on structural changes and disruptions in the European real estate financing market. Since the start of the debt platform in 2020, the first vintage and second vintage together raised over €350 mln. EDR REIM’s debt team is currently working on a third vintage with the objective to deploy €600 mln over the next few years, with a...

One of Europe’s largest solar power rooftop installations has been brought onstream by solar developer Sunrock on Patrizia’s 210,000 m2 Maasvlakte logistics development in Rotterdam’s harbour area. The project will deliver a major contribution to the Dutch government’s target of aligning with the EU’s ‘Green Deal’ and making the economy net carbon neutral by 2050, while also accounting for around half of the total solar power output of Patrizia’s Dutch logistics real estate portfolio. Sunrock has installed a 120,000 m2...

ESG-focused real estate investor Nrep has acquired a majority stake (51%) in Klövern, a Swedish residential developer owned by Corem Property Group, ALM Equity and Broskeppet Bostad. For Nrep, the deal represents an opportunity to invest in a successful residential player with over 20,000 building rights in prime locations, primarily in the urbanised areas of Stockholm and the Mälardalen region. Around 90% of homes will be located less than 30 minutes from the central business district of each city by...

Facility and real estate service provider Apleona has successfully merged with peer Gegenbauer, to create a panEuropean business with revenues of around €3.5 bn. The new group, which will operate under the Apleona name across all divisions, will have around 40,000 employees. Its core business remains integrated facility management with a strong focus on technical building management and the markets of Germany, Austria and Switzerland. In Germany, Apleona has come out of the merger stronger in terms of its regional...

Investment firm Cain has renewed a £50 mln (€58 mln) revolving credit facility with Tungsten Properties to fund a pipeline of logistics opportunities in the UK. The three-year renewal follows the successful deployment of the initial £36 mln (€42 mln) facility in 2020. Cain’s partnership with the Leicester-based company began in 2019, initially financing four successful schemes at Witham, Witney, Oakham and Lutterworth with over 40,877 m2 of industrial and distribution space and a gross development value of £61 mln...

Nordic alternative fund manager Slättö has acquired 10 logistics and industrial properties in prime locations in Sweden and Finland for SEK 455 mln (€38.7 mln). The six separate transactions, concluded through Slättö’s logistics and light industrial team Evolv, were completed during the first two quarters of 2023. They include three last-mile logistics terminals and seven light-industrial assets in Arninge and Länna in Stockholm, Ringön and Backa in Gothenburg, and Tattariharju in Helsinki. Slättö and the Evolv team will carry out...

Global asset manager Aviva Investors has acquired three logistics facilities in France as part of a forward funding agreement with real estate promoter Exia. Spread across the Orléans, Nantes and Reims regions of France, the three speculative developments, collectively known as Ruby, will provide over 96,000 m2 of logistics space, with completion scheduled for Q4 2024. The Grade A logistics facilities located in Toury, Sainte-Hermine and Recy will be delivered to best technical and environmental standards throughout. They will be...

Logistics specialist Clarion Partners Europe has acquired three distribution warehouses in Widnes, UK on behalf of a commingled fund client, as it continues its renewed expansion in the UK. Financial details were not disclosed but CoStar reported a deal volume in the £90 mln (€105 mln) range. With a combined area of 708,000 ft2 (65,780 m2), the newly constructed facilities were purchased from KKR Real Estate Partners Europe II Fund and Mirastar, KKR Real Estate’s industrial and logistics platform in...