Industry News

Moorfield Group’s fifth value-add UK real estate fund is funding a £42 million (€38.6 million) student accommodation scheme in Lincoln. The UK real estate fund manager’s Moorfield Real Estate Fund (MREF) V has entered into a development agreement with Melberry Developments for a 293-bed purpose-built student accommodation (PBSA) scheme in the East Midlands. The deal marks Moorfield’s second development agreement with Melberry. In April last year, Moorfield via its MREF IV fund entered into a development agreement with Melberry for...

Ardstone, the Irish investment and development platform, has received 4-star GRESB results on three of its residential strategies, which are primarily focused on the social and affordable sectors in Dublin. Ardstone participated in the global real estate sustainability assessment this year for the first time with its Sustainable Communities development strategy, backed by Patrizia Multi Managers. The fund scored 92 points out of a possible 100, which is an excellent score for a first-time fund. Its aim is to deliver...

Clearbell puts ESG at forefront of asset management strategy with new promotion Clearbell Capital is promoting Alice Murray to the position of Head of Asset Management & Sustainability. As Head of Asset Management & Sustainability, Alice will be responsible for leading on the ongoing development and implementation of Clearbell’s ESG strategy across the firm’s portfolio and continue to lead all asset management activities. She will report into Rob West, Managing Partner. Alice joined the Asset Management team in August 2021...

Catella Corporate Finance France (CCF France) has appointed new management teams within its different subsidiaries in France; Catella Property, Catella Residential and Catella Valuation. This includes new partners and a series of succession changes to its executive committee aimed at strengthening the management of its various entities. Catella Property, dedicated to commercial real estate, will be led by Raphaël Amouretti as CEO and head of capital markets Ile-de-France, with Grégoire Onillon and Martin Monnet appointed managing directors and co-heads of...

CBRE today announced the acquisition of one of the UK’s leading asset management and development management business, Sovereign Centros. This acquisition will enhance CBRE’s asset management and development management capability, particularly within retail, expanding the company’s client relationships and growing its expertise across sectors. Sovereign Centros focuses on shopping centres and retail parks, leisure and mixed-use properties, with nearly 14 million square feet under management. It works with a wide range of global capital, banking and financial institutions and leading...

Coima SGR and Redo SGR have acquired Italy’s largest urban regeneration project from a consortium including Hines and a Kuwaiti sovereign wealth fund-backed investment firm. Coima and Redo have agreed to buy MilanoSesto SpA, the company that owns the majority of the site, from Hines Iron MilanoSesto Associates. Coima and Redo have also agreed to buy Unione Zero from Hines and Cale Street, in a deal that gives the buyers a 90% stake in the regeneration development. Back in 2020...

Heitman has acquired two student housing assets in Norway for an unspecified amount. The global real estate investment manager bought the Studinen and SG 28 properties in Gjøvik, in a deal that adds 101 beds to Heitman’s student housing portfolio. The latest transaction follows the recent acquisition of Steinan Studentby, a business that owns 218 beds in 102 apartments across two buildings in Trondheim, a deal made on behalf of the Australian Retirement Fund (ART). Heitman said once the latest...

Garbe Industrial Real Estate GmbH has begun the redevelopment of a 56,000 square metres brownfield site in the Meiderich district of Duisburg, Germany. The site, which Garbe acquired over two years ago, was previously used by the steel industry and is located on the Zeus site. The project aims to create a multi-user park of around 29,000 square metres for commercial and logistics use. The construction is scheduled to start in Q1 of 2024, with a total investment of c...

Blackstone has added more than 1,000 beds to its UK student housing portfolio through the acquisition of two properties from Downing Students. IQ Student Accommodation, a Blackstone portfolio company, said it has supported Blackstone’s acquisition of two purpose-built student accommodation assets in London and Edinburgh, without disclosing any financials. The assets are Vega, an 841-bed property in Vauxhall, London, and The Mont, a 324-bed property located close to the Central Area of the University of Edinburgh. Source: realassets.ipe.com on the...