Industry News

CBRE Investment Management has acquired a new affordable residential asset in Spain’s capital on behalf of a fund. The manager has invested an undisclosed amount to buy the 12,174 square metres asset located in San Sebastián de los Reyes in Madrid. The fully-leased asset, completed in 2009, comprises two adjacent buildings with 82 homes, 123 parking spaces and 82 storage units. CBRE IM said the acquisition was made in partnership with Elix and is in line with the recently signed...

Global investment manager AEW has agreed to acquire Grand Slam, a multi-let office complex in the centre of Cologne, Germany. The asset was acquired on behalf of one of AEW’s funds from Swiss Life Asset Managers. Financial details were not disclosed. Grand Slam, which comprises 8,000 square metres over two buildings, was extensively refurbished in 2022 whilst retaining the building’s listed façade and staircase, and is DGNB Gold pre-certified. The refurbishment included the installation of building control technology, along with...

For the first time ever Commerz Real is investing in Swedish solar parks for its Klimavest impact fund. The five photovoltaic projects are already in an advanced stage of development and will have an installed capacity of 246 megawatts-peak. The developer is the Swedish company Helios Nordic Energy, which is currently developing some 70 projects in Scandinavia and the Baltics with a volume of approx. 2.3 gigawatts. As recently as May of this year Commerz Real acquired two photovoltaic projects...

Union Investment has acquired the Nürtinger Tor development project via a forward funding deal. The building in the heart of Nürtingen dates back to 1971. Currently known as the Nanz Center, it is being converted into a mixed-use shopping and amenity center. Completion is scheduled for the second half of 2023. The acquisition is being made for open-ended real estate fund immofonds 1, which is marketed solely in Austria. The vendor, the Geiger Group, is also handling the extensive development...

Hines, the global real estate investment, development, and property manager, has advised its Hines European Core Fund (HECF) on the acquisition of six fully occupied logistics assets in the Randstad area in Aalsmeer, Honselersdijk and Rijnsburg in The Netherlands. The business parks, on which the assets are located, are majority owned and managed by Royal FloraHolland (RFH), the world’s largest floricultural marketplace and a major contributor to The Netherlands’ world-renowned role within the flower industry. In 2021, the value of...

Union Investment has acquired an office development in one of France’s most sought-after and dynamic business districts – Lyon Part-Dieu. The project is a joint development between ICADE Promotion and Sogeprom and expected to be completed in Q1 2025. The acquisition will be added to the holdings of institutional open-ended real estate fund UniInstitutional European Real Estate. The parties have agreed not to disclose the purchase price. “We have seized the opportunity to acquire a next-generation office building from two...

Madrid - Generali Real Estate has completed the acquisition of Portal del Angel, 40 building, a historical office and high-street asset in Barcelona, on behalf of the pan-European fund “Generali Core High Street Retail Fund” (GCHSR), managed by Generali Real Estate S.p.A Società di gestione del risparmio and reserved for professional investors. The seller of the asset is a subsidiary of the de Andres Puyol family, Medcap Real Estate. The acquisition is fully in line with Generali Real Estate’s strategy...

Milan and Frankfurt - Generali Real Estate strengthens its presence in the Frankfurt real estate market, with the completion of the acquisitions of two important office and commercial assets, both on behalf of the pan-European fund “Generali Europe Income Holding” (GEIH), managed by Generali Real Estate S.p.A Società di gestione del risparmio and reserved for professional investors: the k26 building, in Frankfurt’s banking district, and the 10tral building, in the heart of the city center. These acquisitions are fully in...

HIH Invest Real Estate just acquired the MILESTONE 5c office development in a central location of Freiburg. It involves a six-storey office building with an additional recessed storey and a single-storey underground car park that will be constructed on Heinrich-von-Stephan-Strasse in direct proximity to the central railway station of Freiburg. The property, under development by STRABAG Real Estate, is scheduled to be completed by the second quarter of 2023. Its gross lettable area will add up to 7.711 sqm. The...