Industry News

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...

CBRE Investment Management has put equity to use from one of its funds into a residential asset in Täby, Greater Stockholm, Sweden, from local developer, Aros Bostadsutveckling. The newly built asset comprises 102 residential units, totalling 7,529 sqm with each unit approximately 74 sqm. The building is expected to attract families for the area’s waterfront location and beachside, as well as sports facilities, care services and schools. It is hoped to achieve a BREEAM Excellent, the Swan Ecolabel, Miljöbyggnad (MB)...

International Industrial Properties (IIProp), a logistics platform focused on European industrial and logistics assets and owned by Madison International Realty and Griffin Capital Partners, has announced the sale of built-to-suit (BTS) logistics property in Murcia, Spain, to Hansainvest Real Assets for an undisclosed amount. With a total GLA of 46,600 sqm, the asset is fully let under a long-term agreement to a logistics company. The facility has obtained a "Very Good" BREEAM certification. Source: https://propertyeu.info/Nieuws/Hansainvest-picks-up-Murcia-logistics-asset-from-IIProp/04cd1e5e-0e3d-4917-8cca-b170c0ce28f3, on 26.10.2023

CBRE Investment Management and Chancerygate have formed a joint venture partnership to develop urban logistics schemes on behalf of an investment fund sponsored by CBRE IM. The joint venture has secured its first development sites representing more than 450,000 square feet. The joint venture will deliver modern urban logistics assets to high sustainability and operational standards and target BREEAM Excellent certification or better. Source: https://propertyeu.info/Nieuws/CBRE-IM-and-Chancerygate-team-up-to-develop-urban-logistics-portfolio/68035431-d9c6-4079-8605-b8ee7a3d6b8d on 26.10.2023

Real I.S. AG has upgraded real estate funds with a total value of around €8.4 billion, i.e. about 75% of the total portfolio, to Article 8 classification under the EU Disclosure Regulation (Sustainable Finance Disclosure Regulation – SFDR). This complements the company's existing Article 8 product range, which is thus expanded to a total of twelve special funds as well as the open-ended real estate fund REALISINVEST EUROPA. The estimated investment for investors remains manageable at approximately 0.1% of annual...

André Spehr has been appointed head of BNP Paribas Real Estate's International Investment Group (IIG) team in Germany, as of 1 October. In his new position, Spehr is responsible for IIG's activities in Germany and will coordinate and sustainably expand cross-border transactions and collaboration with national and international teams. The IIG is headed by Argie Taylor and includes 30 advisors operating across Europe, with three dedicated teams in Dubai, Hong Kong and Singapore. The IIG works closely with sovereign wealth...

UK student housing specialist Unite Students said on Friday that CEO Richard Smith has decided to step down after 13 years with the company. Smith, who will step down from 31 December 2023, will remain as an advisor to the business until the end of September 2024 to ensure a smooth handover of responsibilities and to provide advisory support. Richard steps down after 13 years with Unite, having been chief executive from 2016. During this time, the Company has grown...

Advisor JLL has announced the appointment of Patrick Saade as head of the JLL Hotels & Hospitality group Global Hotels Desk. Saade joins the global Hotels & Hospitality leadership team that includes William Duffey in EMEA, Nihat Ercan in Asia Pacific and Kevin Davis in the Americas. The Global Hotels Desk specialises in coordinating international capital by connecting interested investors with Hotels & Hospitality assets and portfolios for sale. This dedicated team serves as a liaison between offshore investors and...

International real estate investment manager Savills Investment Management has appointed Daniel Hohenthanner and Evert Castelein as co-heads for Savills IM’s European Industrial & Logistics business. In their newly created roles, they will oversee all of Savills IM’s European Industrial and Logistics strategies, totalling €6 billion in assets under management, and support the platform’s growth. This will include focusing on Savills IM’s new pooled European urban logistics and industrial strategy, which aims to deliver attractive, long-term total returns by exploiting rental...