Industry News

Swedish residential investor Heimstaden plans to sell 12,000 of its 13,500 rental homes in the Netherlands in response to the tough economic climate and government plans to further regulate rental prices. The company, which entered the Dutch market in 2018 and struck a €1.4 billion portfolio deal a year later, has confirmed local media reports that it is seeking to dispose of 2,500 homes over the next two years. Heimstaden said the move was aimed at keeping the company ‘financially...

Global real estate investment management firm Heitman has added Steinan Studentby to its Norwegian student housing platform. Heitman has invested an undisclosed sum to buy the business that owns 218 beds in 102 apartments across two buildings. The latest deal, which expands Heitman’s Norwegian student housing footprint, follows the purchase of student housing platform Bo Coliving in March 2023. Bo Coliving had over 1,400 beds in 52 properties across 13 Norwegian cities. Source: realassets.ipe.com on the 9th of October 2023...

German care home property specialist Cureus has announced the sale of a portfolio of three properties to a Patrizia fund in an asset deal. The parties agreed not to disclose the purchase price. The portfolio consists of 367 senior residences in Flensburg (SchleswigHolstein), Dinslaken (North Rhine-Westphalia) and Bardowick (Lower Saxony). The units are divided into 321 full inpatient care places, 25 day care places and 21 units for assisted living. The operator at all three locations is Insanto Seniorenresidenzen. Source...

Realterm announced today the latest expansion of its global transportation logistics real estate platform with the acquisition of 10 Dodwells Road, a 27,620 square metres low coverage, industrial outdoor storage (IOS)/cross-dock logistics facility located in Hinckley, UK. The property is fully leased by Tesco Distribution Limited, a subsidiary of Tesco plc. The property offers 55 loading positions, ample truck parking and immediate highway access. Recent improvements to the facility include refrigerated and ambient distribution areas, a new roof system, new...

La Française Real Estate Managers (REM) has acquired a fourstar hotel resort close to the centre of La Salle-les-Alpes, France, from Adim Lyon, a subsidiary dedicated to Vinci Construction's real estate development. Financial details were not disclosed. Located at the foot of the slopes of Serre-Chevalier, the resort is located between Grenoble and Turin. Designed by the architectural firm Studio Arch, the 4-star resort develops over 12,000 square metres spread over six floors. It includes 164 units with natural lighting...

M&G Real Estate has acquired two residential properties in Germany and Portugal on behalf of the €600 million M&G European Living Property Fund, launched in January this year with backing from Dutch pension fund manager MN. The fund has bought a residential building in Park am Gleisdreieck in central Berlin for €36.5 million in an off-market deal. The building has 67 private-rented apartments, 48 of which are available at open-market rent and 19 are subsidised apartments, which are fully let...

Logistics specialist GLP has announced the acquisition of a logistics building in Ploisy's new Plateau district, in France, in an off-market deal with AG Real Estate France. Financial details were not disclosed. Built by Quartus and delivered in 2020, the turnkey building will be fully leased to logistics provider Houtch, which is already GLP's tenant at the neighbouring facility. This acquisition further strengthens GLP's presence in the area, which now boasts two logistics facilities totalling almost 78,000 square metres. Source...

La Française Real Estate Managers (REM) has announced the acquisition of the Sentinel Square business park located at 221 rue Victor Hugo in La Sentinelle, in the Hauts de France, France, from vendor Boreale. Financial details were not disclosed. The park comprises four separate and divisible buildings, recently renovated or built. As a whole, the park offers a good level of service for the well being of occupants (refectory kitchen, rest areas, fitness room, etc.). It is also planned to...

Savills Investment Management is acquiring three UK student housing properties worth around £300 million from urban regeneration specialist Vita Group. The 1,340-bed transaction, which represents one of the largest UK purpose-built student accommodation (PBSA) deals this year, involves the Cannon Park asset in Warwick, the Iona Street property in Edinburgh and the Bruce Street asset in Belfast. Source: realassets.ipe.com on the 2nd of October 2023 https://realassets.ipe.com/news/savills-im-invests-300m-in-uk-student-housing-assets/10069232.article