Manager News – Page 45
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Asset Manager News€103m of transactions bring M7’s EREIP V to full investment
M7 Real Estate (“M7”) the pan-European investor and asset manager, announces that it has fully invested its fifth value add European investment fund, M7 European Real Estate Investment Partners V (“M7 EREIP V” or the “Fund”) having raised a total of €125 million of investor capital following a final close in June 2019.
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Asset Manager NewsOrchard Street completes 63,000 sq ft of Leeds warehouse lettings, taking Gildersome Spur to full occupancy
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed two new lettings totalling 63,000 sq ft at Gildersome Spur industrial estate in Leeds, taking the prime warehouse facility to full occupancy. Gildersome Spur is managed by Orchard Street on behalf of St. James’s Place UK Plc.
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Asset Manager NewsPGIM Real Estate buys office building in Berlin City West for European value-add strategy
PGIM Real Estate has acquired an office building in Berlin from PPF Group, as part of a share deal for its European valueadd strategy. The property is located in the central business district of Berlin City West and has a total lettable area of around 24,500 square metres spread over nine floors, with two underground floors containing 410 parking spaces.
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Asset Manager NewsM7 acquires 25-unit multi let industrial estate in Dublin for €6.75 million
M7 Real Estate (“M7”) the pan-European investor and asset manager, announces that it has acquired Primeside Park in Ballycoolin, Dublin 15 for €6.75 million, on behalf of M7 European Real Estate Investment Partners V (“M7 EREIP V” or the “Fund”), from a private investor in an off-market transaction. The price reflects an initial yield of close to 7% and a capital value of €95 per sq ft.
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Asset Manager NewsM7 Real Estate acquires The Mailbox, Birmingham’s premier mixed-use asset
M7 Real Estate (“M7”), the pan European asset and investment manager, has acquired The Mailbox in Birmingham from a joint venture between a Brockton Capital-advised fund and Milligan Retail.
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Asset Manager NewsUnion Investment and Generali Real Estate signed the agreement to acquire the Puerto Venecia shopping resort in Zaragoza
Shopping centre and retail park with combined rental area of 120,000 m2 and 19 million visitors a year
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Asset Manager NewsCORESTATE expands its institutional housing funds: New building project “Quartier Kreuzstraße” purchased in Leipzig-Mitte
Institutional fund with at least 4% yield distribution/year Three revitalization properties and two new buildings in a popular central location in Leipzig Energy-efficient building meets high KfW criteria and corresponds to CORESTATE’s ESG strategy Total investment volume of over EUR 57 million Undiminished demand for residential investments among institutional ...
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Asset Manager NewsPATRIZIA buys iconic Louise Tower in Brussels in landmark portfolio deal
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has acquired the iconic Louise Tower in Brussels as part of a portfolio of six office buildings and one retail asset, by purchasing Athora Real Estate Investments B.V., from Athora Belgium S.A., for EUR 190 million.
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Asset Manager NewsDeka Immobilien acquires first property for a new open-ended real estate fund in London
Deka Immobilien has acquired the “51 Moorgate” office property in London for around GBP 62 million. The seller was a Skanska Project Development Limited company. The property was revitalised to high quality new construction condition with completion in October 2019. It offers around 4,300 m² of leasable space and is fully let under a long-term lease to Skanska UK plc., a wholly owned subsidiary of the Swedish construction company Skanska AB. It is located near the Bank of England in the London City office submarket and offers excellent access to local public transport. The property has received British BREEAM “Excellent” certification for sustainable construction.
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Asset Manager NewsM7 Real Estate buys three properties for EREIP V Fund
M7 Real Estate (M7), the pan-European investor and asset manager, has acquired three commercial properties in Germany for its fifth European value add property fund, M7 EREIP V for EUR 17.7 million, in three separate transactions.
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Asset Manager NewsHines Acquires Inwood Trade Center
Hines, the international real estate firm, announced today that it has acquired Inwood Trade Center, a 14-building, 738,198-square-foot infill business park located on 38 acres within the urban core of the North Trinity submarket in Dallas.
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Asset Manager NewsPATRIZIA acquires healthcare property development in Dresden
PATRIZIA AG, the global partner for pan-European real estate investment, announces the acquisition of a healthcare property development in the city of Dresden, in Eastern Germany, on behalf of PATRIZIA Social Care Fund III.
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Asset Manager NewsPATRIZIA sells a 283-unit residential portfolio in Denmark
PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a residential portfolio totalling 283 units in Copenhagen and North of Copenhagen, Denmark, to “Lægernes Pension”, the Danish pension fund for doctors.
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Asset Manager NewsHines to Develop First Multifamily Project in Oklahoma City
Hines, the international real estate firm, announced it will partner with Humphreys Capital to develop The Residences at Classen Curve in the Nichols Hills submarket of Oklahoma City.
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Asset Manager NewsHines Global Income Trust Acquires Royal Mail Sorting Warehouse, Edinburgh
Hines, the international real estate firm, is pleased to announce that Hines Global Income Trust, Inc. (“Hines Global”) has acquired the Royal Mail sorting warehouse in Edinburgh from RPMI RailPen for around £25m.
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Asset Manager NewsPGIM Real Estate buys Berlin office tower STREAM from SIGNA
PGIM Real Estate has acquired Berlin office tower STREAM, from SIGNA, as part of a forward deal on behalf of German and Swiss institutional investors. The modern office building, currently under construction, is located at the Mercedes-Benz Arena.
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Asset Manager NewsWhole Foods Market To Anchor Retail At The Parks At Walter Reed
Whole Foods Market has signed a 40,000-square-foot lease to anchor the Hartley at the Parks at Walter Reed, a 3.1 million-square-foot master-planned community from Hines, Urban Atlantic, and Triden Development Group. The leading natural and organic grocer is among the latest signature additions to the dynamic transformation of the former Walter Reed medical campus, the largest site under development in Northwest Washington, D.C.
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Asset Manager NewsSignature Capital and PGIM Real Estate acquire Berlin Arrow Portfolio
A partnership between Signature Capital and PGIM Real Estate has acquired the Arrow Portfolio in Berlin from Patrizia AG as a share deal. The portfolio comprises four office properties in Berlin’s Central districts of Mitte and Kreuzberg, with a total area of c 32,000m sq, as well as an additional fully permitted development of c 8,500m sq.
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Asset Manager NewsBridge Development Partners and PGIM Real Estate form $150 million joint venture to acquire and develop cold storage properties across the US
Bridge Development Partners LLC and PGIM Real Estate, the global real estate investment management business of Prudential Financial, Inc., have announced the launch of a $150 million national cold storage investment program, targeting $400 million in assets. This programmatic joint venture will seek value-add returns through the development of Class A cold storage facilities, as well as the acquisition and repositioning of Class A/Class B cold storage developments across the country.
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Asset Manager NewsHines Announces Stabilization Of Phase I Of Boulevard Oaks Business Park And Start Of Second Phase
Hines, the international real estate firm, today announced the completion and stabilization of the 450,000-square-foot first phase of Boulevard Oaks Business Park, and the start of construction on the second phase—which will be comprised of six additional buildings totaling approximately 1.15 million square feet. At buildout, Boulevard Oaks Business Park will consist of 10 Class A industrial buildings totaling approximately 1.6 million square feet of floor area on 120 acres of land.
