Industry News

US-based developer-investor Tishman Speyer confirmed this week that Rodrigo Cortés has joined the firm as a managing director and will lead the firm’s capital partner relationships across the UK, Ireland, the Netherlands, Southern Europe and Israel. The appointment, which was reported by PropertyEU in February, will see Cortés join the US group from Azora Capital where he was the head of Fundraising & Client Development. Prior to this he worked for 13 years at Goldman Sachs in London. There he...

Pan-European real estate investor Europa has appointed Ed Crockett to the newly created role of head of residential investment UK & Europe. Crockett will report to Rob Sim, managing partner and be responsible for leading Europa’s residential activity in the UK and Europe in line with the business’ strategy of seeking mispriced risk on behalf of its clients. Crockett will work closely with the fund management, transactions and asset management teams across Europa to oversee its existing residential portfolio, grow...

Business Parks investor and operator Sirius Real Estate has appointed Chris Bowman as chief financial officer (CFO). Bowman brings nearly 25 years’ accounting, finance and capital markets experience. Most recently he led the UK investment banking arm of Berenberg, a mid-market public company advisers. Prior to this, Bowman spent seven years in investment banking at Liberum, before which he worked in corporate finance at Canaccord and Credit Lyonnais. He qualified as a chartered accountant with KPMG in 2000. Bowman’s appointment...

UK multi-let warehouse specialist Industrials REIT has announced that it has agreed to a potential takeover by US giant Blackstone in the wake of lengthy negotiations. The Blackstone bid is understood to value the company at around £700 million (€800 million) including debt. Industrials' equity valuation stands at £498.7 million. Industrials, which holds some 1,270 industrial units across the UK, including Scotland and Wales, generates an annual gross rental income of £12 million. It said in a statement that it...

Pan-European logistics specialist CTP has acquired additional warehouse capacity in Ostrava, Czech Republic for an undisclosed sum. The deal with Bluehouse Capital concerns a 330,000 sqm plot of land, formerly used by chemical plants, in the city district of Ostrava - Hrušov. The latest acquisition will enable the expansion of the CTPark Ostrava Hrušov with an additional 76,000 sqm of industrial-logistics space. This is in addition to the existing first phase of 18,000 sqm, which is already leased to Prosperplast...

Belgian investment fund Mitiska REIM has acquired Polish shopping centre, Europa Centralnam situated in the town of Gliwice. Financial details were not disclosed. The shopping centre is one of the largest commercial buildings in Poland and celebrated its 10th anniversary on 1 March this year. Its 67,000 m2 of retail space includes a retail park and a shopping mall. Mitiska plans to reposition the existing property as a diversified mixed-use convenience facility, including a retail park with food and beverage...

Real estate investor and fund manager Cromwell Property Group has secured an anchor tenant for its 10,000 m2 sustainable office redevelopment in Milan. A major European multinational communications industry company will relocate to the vibrant neighbourhood of Scalo Porta Romana and will occupy 4,500 m2 of office space. Nervesa21 will offer 14 modern floors, modular flexible layout, premium amenities, 2 rooftop terraces and 4 panoramic elevators. The €25.7 million redevelopment has been designed by architect DEGW/Lombardini 22 and is set...

Pan-European real estate manager Aermont Capital and fund manager Kervis have teamed up on a major regeneration project in Milan worth €250 million. Two iconic Milanese buildings (Pirelli 10 and Innovazione 3) will be transformed into a new workplace spanning more than 50,000 sqm that will accommodate 5,000 people. This includes 43,300 sqm of office space, 3,400 sqm of retail space, 800 sqm of multifunctional Pavilion, and 6,000 sqm of green and garden space. The BiM project will be strategically...

German fund manager KGAL Investment Management has acquired the Treesquare office block in Brussels for its panEuropean real estate fund, KGAL Core 4 Real Estate. Financial details were not disclosed. The fully let property with approximately 6,500 sqm of leasable space is located in the centre of the European Quarter of the Belgian capital, in the immediate vicinity of the EU Parliament. The property, which was built in 2018, has a high-quality finish and achieved a BREEAM Excellent certification. The...