Industry News

Garbe Industrial Real Estate has acquired a former industrial site in Gera, in the German state of Thuringia, to build a 28,000 square metres logistics and commercial property. The 48,000 square metres conversion site is part of a former dairy farm, and the seller is FAB Grundbesitz, a group of companies with a strong focus on the real estate markets in central Germany. Construction is scheduled to begin in April 2024 and be completed in Q2 2025 at a cost...

Elkstone has launched a strategic partnership with Harrison Street to develop over 1,500 purpose-built student beds in Dublin, Limerick, Cork, and Galway by 2028. The partnership will complete its first development – Stoneybatter Place – this September, which will comprise 142 student beds and is situated on Manor Street in Dublin. The five-storey property is conveniently located closely to Technological University Dublin, and is a short distance from Trinity College, the Law Library and Kings Inn. In addition to quality...

Weinberg Capital Partners and Henderson Park have acquired an office building in Levallois-Perret in Île-de-France in a joint venture. Financial details were not disclosed. The asset aquired by the JV partners is 18,500 square metres. The building is located around 5 kilometres from central Paris at 49 Avenue Georges Pompidou, a strategic location just three minutes from the Metro, in the area of Levallois-Perret. Designed as a headquarters building, 49 Pompidou features 2,000 square metre floor plates, terraces on each...

Asset manager STAM, which is owned by Corestate Capital, has acquired a residential building in Paris on behalf of the Opera fund. Financial details were not disclosed. This asset is located near the place de la République in the 3rd arrondissement of Paris, and comprises two buildings arranged around a shared courtyard planted with trees. It has a total surface area of around 1,500 square metres acoss 18 units, divided into 1 retail unit and 17 apartments. Source: propertyeu.info on...

Commerz Real has acquired the 4-star hotel ‘Steigenberger Hotel de Saxe’ in Dresden with 185 rooms for its open-ended real estate fund Hausinvest. The total leasable area of the property is 13,500 square metres, with 12,300 square metres accounted for by the hotel. The areas are leased in the long term to the hotel chain Steigenberger Hotels & Resorts, which is part of the Deutsche Hospitality umbrella brand. Erected in 2006 and extensively refurbished in 2019, the hotel offers a...

NREP, has announced that its NREP NSF V Fund has completed the acquisition of a portfolio of 22 properties for approximatly €420 million across Sweden, for management by its social infrastructure platform Altura. The portfolio was acquired from Vectura and is comprised of 20 care homes and two pre-schools, and the deal represents Sweden’s largest ever transaction in this asset class. With a total leasable area of 99,500 square metres, the properties are located across 18 municipalities, in the Stockholm...

Clearbell Property Partners IV LP, a fund managed by Clearbell Capital LLP (Clearbell), has today announced the acquisition of six regional industrial assets from UK property investment firm Palace Capital plc for £34 million, reflecting a net initial yield of 6.2%. The portfolio comprises six industrial and logistics assets located throughout the UK: Coventry, Avonmouth, Newbury, Kettering, Burgess Hill and Verwood. The 312,000 square feet portfolio generates £2.2 million per annum and is 97% occupied by several businesses including e-commerce...

Union Investment is expanding its strategic exposure to the resort hotel sector by acquiring the main Grand Palais building of the Steigenberger Grandhotel & Spa tourist hotel complex in Seebad Heringsdorf on the island of Usedom in the Baltic Sea. The property is located in a prime position on the seafront promenade, just a few minutes’ walk from the pier and the 40 kilometers long sandy beach. The buildings Palais Wilhelm and Palais Bismarck stay in property of the seller...

Last week, Real estate investor Altera Vastgoed NV (hereinafter: Altera) took delivery of the final phase of ’t Groene Wold project from Vastbouw Vastgoedontwikkeling B.V. Residents will soon be moving into these homes. Altera has purchased a total of 174 properties in ’t Groene Wold project in Almere, all of which had been let fully by the time of their completion. The residential blocks consist of corner and mid-terrace houses of 80 m2, 90 m2 and 104 m2, respectively. The...