Industry News

Savills Investment Management (Savills IM), the international real estate investment manager, has acquired a supermarket portfolio comprising four strategically located properties in Portugal for its European food retail strategy. The purchase price was around €39 million. With this purchase, equity commitments for the strategy grow to a volume of €470 million – with properties in the Netherlands, Ireland, Denmark, the UK, Germany and now Portugal. The four established supermarkets in Portugal are located in Gulpilhares, Olhão, Castelo Branco and Nazaré...

Nordic private equity firm NREP has stepped into the Norwegian office market with the acquisition of two properties from Entra for SEK 1.5 bn (€130 mln). The firm has bought Akersgata 51 and Tordenskiolds gate 6 in the centre of Oslo and plans to invest in the assets to raise their sustainability credentials. CBRE brokered the deal. Arctic Securities and Realkapital Investor advised NREP. Source: https://propertyeu.info/Nieuws/NREP-enters-Norwegian-office-market-with-130m-deal/fb850ea0-dd29-4a31-a701-e017a975634e , on 25 May 2023

French fund manager Amundi has reportedly hired agent JLL to market a €2.5 bn European office portfolio. According to news reports by Costar and ReactNews, the so-called Project Blue sale consists of 10 assets across Europe and includes the New Atrium in Amsterdam. The French fund manager is said to be aiming to continue to manage the assets. Amundi announced in 2021 that it was switching from a ‘single strategy’ office investment model and targeting new sectors including healthcare and...

Catella European Residential (CER), the German public openended real estate fund, has acquired a 14,000 m2 waterfront development of 137 senior living apartments distributed across four buildings on Lake Zwenkau on the southern edge of Leipzig for €50 mln. The seller is SEEBAD Erholungsraum GmbH. The four buildings in the development have a total of 10,800 m2 of living space, of which 88 apartments are designated for assisted living and 49 for care. The buildings are aligned with the KfW...

Adventum Group, which focuses on CEE real estate investments, have completed the fifth acquisition through its Adventum Penta Fund SCA SICAV-RAIF. As of today, close to 250 million EUR has been raised and onboarded on the Adventum PENTA platform, overwhelmingly from blue chip institutional investors. Adventum has managed to attract institutional capital from Hungary, Germany, the UK and further European countries based on Adventum’s strong track record, remarkable pipeline and ESG compliant green fund offering. Adventum targets high yielding core...

Global investment firm KKR has agreed to acquire a highquality portfolio of thirty residential properties in Finland from Kruunuasunnot for an undisclosed amount. The portfolio comprises over 1,200 residential units with two thirds of the portfolio located in the country’s three largest cities of Helsinki, Turku and Tampere. This transaction is KKR’s first in the Nordic region through its European Core Plus Real Estate strategy, which invests in high-quality, substantially stabilised assets with medium-term value growth potential. Source: https://propertyeu.info/Nieuws/KKR-picks-up-major-Finnish-resi-portfolio/14147d87-c1a3-4c84-aecb-0a823c45f9f6...

Global real estate investment manager AEW has acquired a prime retail asset in the centre of Cannes, France. Financial details were not disclosed. The asset was acquired on behalf of Fondis, its fund focused on acquiring and managing retail assets across France. The 375 m2 asset is situated on rue d'Antibes, the main shopping area in Cannes city centre with more than 200 stores. This lively area attracts significant footfall, supported by a number of restaurants in the adjacent streets...

VGP, the Dutch logistics and industrial property company, is selling 11 assets in Spain, the Netherlands and Italy to VGP European Logistics 2, a pre-existing JV with PIMCO Prime Real Estate, which is investing on behalf of several Allianz group companies. The portfolio includes five buildings in four new VGP parks and another six newly completed logistic buildings which were developed in parks and were already transferred to the joint venture in a prior closing, the parties said. Gross proceeds...

JLL has promoted Dan O’Connor to head of hotels & living - Ireland. In his newly expanded role, O’Connor will provide leadership and strategic support for the Ireland Residential team and continue to lead JLL Ireland’s successful hotel business. With over 15 years of experience, most recently as head of Ireland hotels for the firm, JLL said that O’Connor had played a major role in establishing the firm as the market leader in hotel transaction services, achieving number one market...