Industry News

Aviva Investors, the global asset management business of insurer Aviva, has completed a €92.7 million investment in Cross Keys Homes, a social housing association based in Peterborough, the UK. The investment has been made on behalf of Aviva UK Life’s annuity business and means Aviva Investors has now invested almost £360 million in social housing providers across the UK in 2022. Cross Keys Homes will use the funding to support its ongoing growth and development plans, including the building of...

UK-focused investment manager Apache Capital has sold Cumberland Place to City Developments Limited, a Singaporebased investor and developer for over €35 million, representing an exit yield of 4.81% and exceeding the target sale price. Completed in 2018, the high quality student housing development is situated in the heart of Southampton and is Apache Capital's last purpose-built student accommodation scheme. The property, which is fully let and has achieved 100% occupancy year-on-year, comprises 206 direct-let student beds arranged over 12 storeys...

The ASR Dutch Core Residential Fund, managed by the property arm of insurer ASR, has secured a €250 million commitment from an unnamed Dutch pension fund. ASR said the new capital commitment would enable the €2.2 billion residential fund to continue to invest in the mid-priced rental segment in the Netherlands, where there is a huge shortage of stock. Launched in 2013, the ASR Dutch Core Residential Fund focuses on sustainable, high-quality apartments and single-family homes in the medium-priced rental...

Catella Real Estate has acquired a recently completed logistics warehouse in the southeastern Netherlands on behalf of its Catella Logistik Deutschland Plus (CLD+) Fund. The purchase is the fund’s 11th to date and marks the second acquisition in the Netherlands. Financial details were not disclosed. Located in the town of Haelen, near the city of Roermond in the province of Limburg and close to the German border, the 16.065 sqm property was acquired from Dutch fulfillment company Dimass Group in...

NREP, an urban investor with €18 billion of assets under management, has acquired the Eteläesplanadi 2 office building in Helsinki, Finland. Although financial details were not disclosed, the price is said to be around €115 million. The acquisition forms part of NREP’s strategy to grow its sustainable offices portfolio, focusing on high quality properties in strong locations. NREP’s strategy focuses on the Nordic markets, where the office sector has remained more resilient than many other European capitals. NREP invests in...

BC Partners Real Estate and Freo Group have announced the completion of their joint acquisition of the office building located at Gran Vía de les Corts Catalanes 764, in the city centre of Barcelona, for an undisclosed amount. This asset, which has been the Spanish headquarter of pharmaceutical company Novartis since the 70’s, is an iconic corner building in the city, located in the Eixample district close to the famous Sagrada Familia. BC Partners Real Estate and Freo have acquired...

Abrdn has acquired a mixed-use development project in Nanterre, France, from French listed group Icade's development arm Promotion. Financial details were kept confidential. The purchase, which is being made on behalf of one of abrdn's core eurozone balanced property funds, encompasses 16.000 sqm of living space to be developed on rue Henri Barbusse. The project comprises a residential section for the elderly and young workers managed by the Sergic Group totalling 298 rooms or 10.400 sqm; as well as a...

Its Western European value added vehicle, Aermont Capital Real Estate Fund V, held a final close at the end of July on €3.75 billion. The firm exceeded its €3 billion target and surpassed predecessor Fund IV which closed on €2 billion in 2018. Large investors in the new fund include New York State Teachers’ Retirement System, which committed €270 million. Source: https://propertyeu.info/Nieuws/Aermont-on-course-to-take-fundraising-honours/bf626af7-d47c-42d8-be89-036fe44ec0d9, on 6.12.2022

Global real estate investor Ivanhoé Cambridge has acquired its second logistics development project in Germany in partnership with developer and asset manager NVELOP. The two companies announced in September that they would invest in logistics real estate opportunities in Germany together, from development to core-plus and as part of that partnership, acquired a 72.000 sqm brownfield logistics project in the Frankfurt market. In the latest deal, Ivanhoé Cambridge has acquired a 48.000 sqm brownfield site in Velten, north-west Berlin, where...