Industry News

European real estate investment manager Tristan Capital Partners has completed the capital raising for its latest value add/opportunistic fund series, with equity commitments from investors totalling around €2 billion. European Property Investors Special Opportunities 6 (Episo 6) was fully subscribed with a total of more than 20 investors including both existing and new clients. Clients are predominantly from the pensions, family office and foundations, insurance, and sovereign funds sectors. Around 55% of Episo 6 clients are from Europe, Asia, and...

Ivanhoé Cambridge has announced the acquisition of its first last-mile logistics facility in Munich, Germany, with his partner URBZ Capital, an investment and asset management boutique. Located in Karlsfeld, in the immediate vicinity of Munich, this prime last-mile logistics asset comprises a total surface area of 12.570 sqm, with approximately 4.500 sqm of extension potential, located on a freehold site area of 23.800 sqm. The property benefits from a strategic location nearby the city center of Munich. Post renovation, the...

Patron Capital, the pan-European institutional investor focused on property-backed investments, together with Bluestone, the Milan-based real estate developer and Freo Group, has acquired a development site in the south east of Milan, with plans to deliver an 18,000 sqm complex of 200 apartments. Located in Via Salomone 77, the project is on the site of an abandoned building that was formerly occupied by the Ricordi publishing company and has a gross development value of €75 million. It will include garages...

Global real estate investor Quadreal has acquired an interest in real estate development lending platform Précis Capital Partners, inking a commitment to deploy up to €1.1 billion into its development loans. TowerBrook, Précis Capital’s founding institutional shareholder, retains a significant shareholding. Précis Capital is concurrently rebranding as Precede Capital Partners. Since its launch in March 2021, Precede Capital (then Précis Capital) has originated and arranged loans totalling £1.5 billion to finance the construction of residential properties in the UK. This...

Manuel Hein has been appointed associate director, head of sustainable asset strategy at the German real estate fund manager. He was previously senior technical asset manager in the company’s investment and asset management division. In the newly created position, Hein is responsible for the operational implementation of the sustainability optimisation measures at the property level. Source: realassets.ipe.com on the 15th of December 2022 https://realassets.ipe.com/news/people-moves-cromwell-property-appoints-head-of-esg/10063948.article

The real estate fund manager has appointed Lara Young as head of ESG. Young is currently the chair of the Carbon Champion Review Panel, which is convened by the Institution of Civil Engineers. She also worked as the climate change director at Costain where she helped establish and implement its climate change action plan. Source: realassets.ipe.com on the 15th of December 2022 https://realassets.ipe.com/news/people-moves-cromwell-property-appoints-head-of-esg/10063948.article

Thomas Laakso, Investment Director at CapMan Real Estate, has been promoted Partner. Simultaneously, he takes over leadership of the CapMan Hotels II fund from Pirjo Ojanperä, who transitioned to a Senior Advisor role in December after a long career at CapMan. CapMan Hotels II fund is one of the largest owners of hotel properties in the Nordics. Mr. Laakso, who has extensive experience from hotel operations, development, consulting and asset management across Europe, the Middle East, Africa and the USA...

London-based investment company Icona Capital has acquired a 40% minority stake in global real estate player Stoneweg. Financial details were not disclosed. The transaction creates a combined €8 billion platform, which both companies claim exploits their capital sourcing, deal flow origination and asset distribution capabilities. Max-Hervé George, founder and CEO of Icona Capital, said: 'We see tremendous growth potential utilising the extensive synergies our firms can reap from tapping into our unified vision, entrepreneurial spirit and creativity. 'Building on Stoneweg...

The portfolio consists of properties situated in Gothenburg, Jönköping, Malmö, Stockholm and Västerås. The total lettable area amounts to around 357 t square metres. which are mainly premises for warehouse and logistics. The economic occupancy rate is 94%. The underlying property value is around 5,350 SEK million, which is in line with the book value. For Corem, the estimated result effect of the transaction amounts to around -360 SEK million, after deduction for deferred tax, transaction costs and agreed price...