Industry News

CBRE Investment Management has acquired two new logistics assets in Madrid, Spain, owned by DWS, with a total gross lettable area of 67,859 square metres. The first asset, located in Meco, was completed in Q2 2020 and offers 51,969 square metres of gross lettable space with a LEED Silver rating. The second, in Torrejon, was completed in Q4 2019 and provides 15,890 square metres of gross lettable space with a LEED Gold rating. Both properties are already leased under triple...

Hines, a global real estate investment, development, and property manager, acting on behalf of the South Korean investor, Hana Securities represented by Vestas Investment Management, has acquired the 13,610 square metres, La Distillerie, an Art Deco building formerly a mint alcohol distillery, located in Saint-Ouen in the northern suburbs of Paris. Under a VEFA agreement, with the sale pending future completion, the development will be completely rebuilt and is due to complete construction in the summer of 2024. The Eiffage...

Garbe Industrial Real Estate GmbH has secured a conversion area of around 76,000 square metres in Thuringia. The site is the final large plot in the Eisenach Kindel industrial estate in the municipality of Hörselberg-Hainich (Wartburgkreis). A new production and logistics property is to be constructed there for the tenant BCUBE Logistik GmbH by September 2023. Garbe Industrial Real Estate is investing around €40 million in the project. A state-of-the-art production and logistics property with a total area of around...

Hines, a global real estate investment, development, and property manager, in a joint venture with five German pension funds, have acquired land to develop a high-quality mixed-use scheme combining both office and residential units spanning 60,000 square metres in Berlin-Schöneberg. The off-market transaction, located on Gotenstrasse and Ella-Barowsky-Strasse, is scheduled for completion in 2026. The parties have agreed not to disclose the purchase price. The project is in the direct vicinity of the already completed and fully leased city quarter...

Invesco Real Estate has acquired an office complex in Milan from Coima Res for €40 million, as established in the preliminary agreement signed in July. The complex in Via Deruta 19 consists of two buildings, seven and eight floors above ground respectively, with around 13,000 square metres of commercial area. The property previously housed the offices of BNL BNP-Paribas Group with about 900 employees. Built in 2007, the two buildings will undergo a total redevelopment in line with the highest...

HIH Invest Real Estate (“HIH Invest”) just acquired a health centre located in Michendorf near Potsdam from the GP Günter Papenburg AG conglomerate for its open-ended special AIF, “Vita Invest.” It represents a property development that is part of “Neue Ortsmitte,” a new residential block under construction in a central location. The investment consist of two separate four-storey buildings directly next to the entranceway to the new quarter: One will be used as health centre, the other being as office...

Tristan Capital Partners and Bricks Group have added a £110 million asset to their UK student housing investment partnership. Tristan Capital, investing on behalf of the core-plus CCP 5 Fund, said the partnership has acquired a 999-bed purpose-built student accommodation (PBSA) asset in Liverpool from Aura Investors. The latest deal expands the joint venture’s PBSA portfolio to over 2,100 beds located in Birmingham, Manchester/Salford, Glasgow, and now Liverpool – all managed by Bricks Group’s True Student platform. Kristian Smyth, managing...

Generali Real Estate has completed the acquisition of the Cortile della Seta mixed-use historical building in Milan’s Brera district. The deal was completed on behalf of the pan-European fund Generali Europe Income Holding (GEIH) subscribed by Generali Group companies, and a real estate fund for Poste Vita, both managed by Generali Real Estate. Each of the two co-investors has a 50% stake. The Sericon Investment Fund owns Cortile della Seta, which has 19,000 square metres of office space, 2,000 square...

Prologis, Inc., the global leader in logistics real estate, announced today that it has acquired a diverse portfolio of 128 logistics facilities and six new developments from leading last-mile operator Crossbay, adding a total of 1.14 million square metres of urban space to its European portfolio. The €1.585 billion transaction, on behalf of Prologis European Logistics Fund (PELF), is in line with the fund’s investment strategy of increasing its urban infill real estate portfolio, which will be approximately 54% post-acquisition...