Industry News

Pan-European real estate private equity firm ActivumSG has sold three shopping centres in Barcelona, Caceres and Bilbao for a total of €140 million. The portfolio was acquired from ActivumSG-advised Iberia Fund I by an undisclosed buyer. The three shopping centres were acquired in separate transactions by ActivumSG before Covid-19. They comprise the SOM Multeispai, a 388,000 square feet (36,000 square metres) GLA shopping centre in Barcelona; the Centro Commercial Ruta de la Plata, a 191,000 square feet GLA shopping centre...

Stoneweg has entered into a binding agreement with Cromwell Property Group (Cromwell) to acquire Cromwell’s European fund management platform and associated co-investments, which totals €3.9 billion of real estate assets under management, for a total consideration of €280 million, subject to closing adjustments and regulatory approvals. Under the terms of the transaction, Stoneweg is acquiring Cromwell’s: 100% interest in Cromwell Europe Limited; 27.8% unitholding in CEREIT, a real estate investment trust listed in Singapore with a €2.2 billion portfolio; 100%...

Patrizia has invested around £25 million (€29 million) in the Malmaison hotel in Edinburgh city centre on behalf of one of its UK institutional clients. The 72-bed boutique hotel is in a prime location on St Andrew’s Square close to Edinburgh Castle, St James Quarter and the Royal Mile. The fund manager said the hotel benefits from an “attractive inflation-linked long income profile”, with a 30-year lease with one of the UK’s leading boutique hotel groups. The asset has the...

Panattoni has delivered yet another project in the Małopolska region, completing construction on Panattoni Park Krakow East IV. The development is now to be financed with a €10.5m loan granted by Bank Gospodarstwa Krajowego. The 18,100 square metres centre has been fully leased out to OMEGA Pilzno. Source: europe-re.com on the 22nd of May, 2024 https://europe-re.com/panattoni-completes-logistics-centre-in-krakow-leased-to-omega-pilzno-pl/73046

Heitman LLC (“Heitman”), a global real estate investment management firm today announced the acquisition of its first residential asset in Oslo. Bjerkebanen Apartments is located in the growing Bjerke district of Oslo and has over 6,000 square metres of residential and commercial space. The micro location will benefit from the completion of ongoing local public investments in infrastructure that are being made in the area, including a major hospital, which, combined with historical high demand and diminishing supply for residential-for-rent...

M7 Real Estate (M7) has completed the €62 million refinancing of M7 European Real Estate Investment Partners V’s (M7 EREIP V) Dutch portfolio with existing lender Societe Generale and a debt fund managed by LBP AM. The new 3+1+1-year co-arrangement facility is secured against a portfolio of 25 properties located across the Netherlands, including offices, light industrial, logistics, and retail. Since acquiring the assets between 2018 and 2019, M7 has undertaken a number of asset management initiatives to improve the...

KKR , a leading global investment firm, today announces the acquisition of high-quality, Purpose-Built Student Accommodation (PBSA) assets in Greater Copenhagen from TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, a leading global alternative asset management firm. The PBSA assets, completed in three phases from 2020 to 2023, comprises 494 units across the three assets. The PBSA assets are unique in their quality, modern and furnished characteristics, and differentiated amenities on-site. The assets are located...

Global real estate advisor, CBRE , has promoted Colin Thomasson to head of UK investment properties. Thomasson, who is an executive director, will maintain his current responsibility for running the Northern investment properties business, alongside his new nationwide role. He will continue to be based in CBRE’s Manchester office and will retain his role as lead advisor to the Greater Manchester property venture fund. In his new position, Thomasson will drive improvement in efficiency and productivity across CBRE’s investment properties...

Italian real estate firm Coima has unveiled a raft of new governance and management appointments at the top of the business and for its MilanoSesto project, one of the largest urban regeneration opportunities in Europe. The announcements came as Coima outlined its three-year strategic plan (2024-2026), which will see it enter a new phase of growth, with assets under management projected to rise to over €12 billion by 2026, up 20% from 2024. The strategy will see Coima continue to...