Industry News

Global real estate giant Tishman Speyer has inked a deal for two logistics sites in Düsseldorf, Germany. The properties have been acquired from May & Co in an off-market deal. The sites sit at the heart of the RhineRuhr region, which includes Germany’s fourth largest airport. The properties are located in Düsseldorf Heerdt and Ratingen within the Düsseldorf region and have a total plot area of 60,000 m2. Both sites are approximately five minutes away from the nearest motorway. As...

UK financial services company Legal & General has sold its UK house builder, Cala Group, to a consortium led by Sixth Street Partners and Patron Capital for £1.35 bn (€1.6 bn). Legal & General will receive £1.16 bn (€1.37 bn) in cash from the sale, with half of that amount payable upfront and the remainder spread out over five years. Previously, Legal & General and Patron Capital were joint owners of Cala. Legal & General acquired the 52% in Cala...

EQT Exeter has acquired a portfolio of logistics assets in Spain from GLP Capital Partners' European development fund. Financial details were kept confidential. The three fully-let Grade A Spanish logistics assets are located in Valls, Illescas and Guadalajara and provide 113,000 m2 of space. Source: PropertyEU 19 Sep 2024

Invesco Real Estate, the global real estate investment business of Invesco, has acquired a prime, modern complex of 34 terraced houses on a 5,000 m2 residential area in Marbella, Southern Spain. The seller was Dazeo, the residential joint venture created by Dazia Capital and Eurazeo Patrimoine. The recently redeveloped Bahia residential complex of Les Roches, fully refurbished and upgraded in early 2023, sits in a wealthy area of Marbella. It is fully let on a long-term lease to the hospitality...

European logistics property developer Panattoni has closed a £625 million (€743 million) development loan facility, which will support its strategic growth in the UK. The facility will enable Panattoni to put into production a new wave of speculative warehousing, where it is targeting areas of undersupply. In 2024, Panattoni acquired several new sites, adding a further 2 million square feet of industrial space to its current speculative-build programme of 3 million ft2. The facility was arranged by JP Morgan with...

Hines has acquired a Booker Cash & Carry warehouse from Leopard Capital for £6.45m. Leopard acquired the 41,802 square foot warehouse, which is located at Salfords Industrial Estate in Redhill, for £5.05m in 2019. The asset is let to Booker for a further 2.4 years to earliest expiry at a rent of £9.48/ square foot. Source: BE News 19 Sep 2024

Global real estate investor PGIM Real Estate and pan European investor M7 Real Estate have created a €100 million joint venture focused on industrial and logistics properties in Germany. The venture aims to acquire assets in prime locations and enhance their value through redevelopment and leasing. Two properties, totalling over €40 million, have already been secured. The first asset is located in Mulheim and is currently leased to two tenants, occupying 75% of the space. There is potential to increase...

Aviva Investors, the global asset management business of Aviva, has acquired a new development site in Spain as it continues to grow its multifamily build-to-rent platform alongside Spanish developer Layetana Living. The asset marks the fourth scheme acquired by the platform and, when complete, is expected to provide 331 homes through a mix of one-, two- and three-bedroom properties, making it Aviva Investors’ largest investment to date through its partnership with Layetana. Source: PropertyEU 19 Sep 2024

Union Investment has fully refurbished a historic office building in central Paris and repositioned it as an ultra-modern Grade A property. The building at 60B Avenue d’Iéna will become the headquarters of French  ready-to-wear brand Zadig & Voltaire in January 2025. The property is located in the most prestigious part of central Paris, close to Place Charles de Gaulle and the Arc de Triomphe. The lease covers around 2,680 square metres and runs for nine years. Union Investment acquired the...