Industry News

Union Investment is expanding its partnership with Staycity. The Irish aparthotel operator is set to create long-stay residential units in the YVIE mixed-use project currently under construction by Union Investment in the fast-growing district of Overhoeks, North Amsterdam. From May 2024, Staycity will operate 120 rooms across a total of some 7,000 square meteres on floors 3–10 of the 31-storey residential tower, one of the two buildings that make up the YVIE ensemble. The other floors of the residential tower...

Hines, a global real estate investment, development, and property manager, in response to continued demand from global occupiers, continues to grow its logistics development presence in the UK and Europe via the expansion of its joint venture with Clowes, the UK property investor and developer, to develop a total of 1.15 million square feet (107,000 square metres) of modern, leading-edge logistics space across the East Midlands in England. The expanded joint venture will fund the development of state-of-the-art warehousing across...

AM alpha, a global real-estate investment family firm, is to convert the iconic Rylands building on the corner of Market Street and High Street in Manchester into a mixed-use development comprising retail, leisure and office space. The Grade II listed building in Manchester city centre, which formerly housed the Debenhams department store, will undergo extensive modernisation. The complete refurbishment will include fully redeveloping the existing building, converting the upper floors into high-quality office space and creating a shopping arcade on...

Schroders Capital has set up an impact investment vehicle to invest in real estate projects in deprived areas in the UK. The manager said the newly launched UK Real Estate Impact Fund, is a “place-based impact investment strategy focused on delivering positive social impact outcomes” across the UK. “The fund will predominantly invest to bring forward affordable homes, workplaces and mixed-use town centre re-purposing projects with the specific objective to address social deprivation and inequality as well as delivering a...

A European logistics fund managed by Savills Investment Management has added a newly constructed asset in Germany to its portfolio. Savills IM said the European Logistics Fund 3 (ELF 3) fund has acquired the fully-let logistics complex in Verden, Lower Saxony from Panattoni for an undisclosed amount. The asset comprises 59,000 square meters of warehouse space, 3,700 square meters offices and 4,000 square meters of mezzanine spaces. The international real estate investment manager said ELF 3’s portfolio now comprises 16...

Generali Real Estate has completed the acquisition of an historic office and residential building in Berlin, Französische Strasse 53-55, on behalf of a real estate fund managed by Generali Real Estate S.p.A Società di gestione del risparmio. The seller of the asset is Real I.S. on behalf of the special real estate AIF "Real I.S. BGV V". The asset is a fully let historic building in the prestigious Französische Straße, in the middle of Berlin's central business district around Friedrichstraße...

Macquarie Asset Management has acquired an office building in central Milan for approximately €119 million through an Italian real estate fund. The investment was on behalf of a managed account. The historic property in the Porta Romana district spans 20,600 square meters and was previously owned by All Star, a fund managed by Kryalos SGR and sponsored by funds managed by Blackstone. Built in the early 1900s it was fully renovated in 2020 to incorporate modern design and sustainability standards...

Optimum Asset Management has added a 1,636 square meters office to its fourth German real estate fund’s portfolio. The specialist real estate investment manager has invested an undisclosed sum on behalf of its German Real Estate Fund IV (GREF IV) fund to the commercial building in Düsseldorf. Built in 1986, the building consists of eight stories, including a ground floor. Alberto Matta, chairman and founder at Optimum Asset Management, said: “As we build out our portfolio, we look to invest...

Oxford Properties Group (“Oxford”), a leading global real estate investor, asset manager and business builder, and Novaxia, a premier French urban developer, (“the Partnership”) has completed the acquisition of the Biocitech life sciences campus in Paris, France. The deal marks the first acquisition of the Partnership, announced in May this year, to invest approximately €1 billion to acquire and develop life sciences buildings across France. Biocitech, located in the Romainville submarket of Paris, comprises 21,000 square metres of lab, office...