Manager News – Page 39
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Asset Manager News
PATRIZIA expands into North American PropTech VC market
PATRIZIA AG, a leading partner for global real assets, has entered into a strategic partnership with the North American PropTech venture capital firm, Camber Creek, by participating in the final close of its Camber Creek Fund III. Camber Creek’s latest PropTech fund was oversubscribed and closed with USD 155 million (circa EUR 131 million). Its focus is on PropTech companies across the real estate value chain including construction, development, asset management and leasing.
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Asset Manager News
Timbercreek Announces Rebranding of Business Units
Timbercreek today announced the rebranding of Timbercreek Equities Corp. as Hazelview Investments. As part of the previously announced reorganization of the Timbercreek group, Timbercreek Equities Corp. has assumed ownership of the direct real estate and public securities investment management business, and effective today will operate as Hazelview.
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Asset Manager News
M7 Real Estate secures c. 34,000 sq m logistics letting in Leinefelde-Worbis, Germany, to POCO
M7 Real Estate (“M7”), the pan-European investor and asset manager specialising in multi-tenanted real estate, has let c. 34,000 sq m of logistics vacancy in Leinefelde-Worbis, in the federal state of Thuringia to POCO Einrichtungsmärkte GmbH (“POCO”), the German furniture brand.
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Asset Manager News
Residential Tower ‘Norra Tornen’ in Stockholm wins the International Highrise Award 2020
The final of the International Highrise Award (IHP) 2020 has been decided: The winner of the competition for the world’s most innovative high-rise is the ‘Norra Tornen’ twin towers project in Stockholm/Sweden designed by the Office for Metropolitan Architecture (OMA) in Rotterdam. The prize comes with 50,000 euros and a statuette created by internationally renowned artist Thomas Demand.
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Asset Manager News
PGIM Real Estate Acquires New Jersey Industrial Portfolio For $275M
On behalf of its U.S. core real estate strategy, PGIM Real Estate has acquired a four-building 2.2-million-square-foot industrial portfolio for $275 million from Bridge Development Partners. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.4 trillion global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
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Asset Manager News
PGIM Real Estate Sells Toyobo Building In Osaka, Japan
PGIM Real Estate has sold Toyobo Building, a 12-story high-rise office building located in Osaka, Japan, on behalf of its investors. PGIM Real Estate is of PGIM, the US$1.4 trillion global investment management business of U.S.-headquartered Prudential Financial, Inc. (NYSE: PRU).
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Asset Manager News
PATRIZIA acquires residential development in Sweden for EUR 100m
PATRIZIA AG, a leading partner for global real assets, has acquired a residential development project in Malmö, Sweden, in the attractive suburb of Hyllie from Slättö, a real estate fund manager specialising in the Swedish market, for approx. EUR 100 million.
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Asset Manager News
PATRIZIA buys two-unit Dutch logistics scheme for around EUR 65 million
PATRIZIA AG, a leading partner for global real assets, has acquired a two-asset logistics scheme in Veghel, The Netherlands, on behalf of its institutional clients for around EUR 65 million from Next Level Real Estate; a renowned logistics developer in the Netherlands.
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Asset Manager News
SLP Announces 335,000 SQM of Strategic Land Bank Acquisitions in Vietnam for Development of Modern Logistic Assets
Venture will initially focus on two largest markets, Greater Hanoi and Greater Ho Chi Minh City and surrounding provinces, and marks GLP’s entrance into Southeast Asia
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Asset Manager News
Orchard Street secures planning for carbon neutral South East industrial distribution hub
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, announces that it has received planning permission from Surrey Heath Borough Council to re-develop a site within the Albany Park Industrial Estate into a 48,406 sq ft purpose-built and operationally carbon-neutral industrial and warehouse scheme.
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Asset Manager News
PGIM Real Estate Acquires An Italian Logistics Portfolio
PGIM Real Estate has acquired a logistics portfolio in Italy, on behalf of an institutional investor as part of their European Core/Core Plus investment program; the portfolio consists of three warehouse properties located in greater Rome and Northern Italy.
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Asset Manager News
Hines Launches Willowick Residential, A Best-In-Class Multifamily Property Management Firm
Hines, the international real estate firm, today announced the launch of Willowick Residential, a multifamily property management firm. Willowick Residential will work in partnership with the firm’s rapidly growing multifamily portfolio of 63 projects across 38 U.S. cities, including luxury towers, urban mid-rises and traditional garden-style apartments.
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Asset Manager News
Die Zentrale - Ready-to-Let Refurbished Office in Munich
Barings has developed a unique, forward-looking office property with the goal of helping companies attract and retain top talent. With the major refurbishment now complete, the building comprises over 12,000 sqm from the ground to the sixth floor—with standard floor plates of 1,300 sqm that are readily divisible and can accommodate a range of office concepts. An underground car park offers over 150 parking spaces and ample space for bikes.
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Asset Manager News
PGIM Real Estate Makes First UK Acquisition For European Core Strategy
PGIM Real Estate has made its first acquisition in the UK on behalf of the investors in its European core strategy. PGIM Real Estate is the real estate investment and financing business of PGIM, the US $1.3 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU). The residential property that has been acquired, known as “Centre Square”, consists of 123 multifamily rental units, situated on a central site in High Wycombe, Buckinghamshire.
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Asset Manager News
PATRIZIA buys 4 Madrid logistics assets under development for EUR 50m
PATRIZIA AG, a leading partner for global real assets, has forward purchased the development of four logistic warehouses on behalf of its institutional investors for EUR 50 million at a logistics park located in Valdemoro, within the greater Madrid area. The construction of the 65,800 sq m development is expected to be completed by 2022.
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Asset Manager News
M7 sells €11 million of assets across the Netherlands for EREIP IV
M7 Real Estate (“M7”), the pan European investor and asset manager, announces the sale of five office buildings and one retail property in the Netherlands, on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), in four separate transactions for a total of €11 million.
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Asset Manager News
M7 announces its intention to float The Mailbox
M7 Real Estate (“M7”) has announced its intention to float (“ITF”) The Mailbox, a prime office-led mixed-use property in Birmingham independently valued at £179 million, on the International Property Securities Exchange (“IPSX”).
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Asset Manager News
Deka Immobilien acquires office tower in Australia
Deka Immobilien has exchanged contracts to secure a high quality office property in Melbourne, Australia, for a purchase price of around EUR 280 million. Dexus, a leading Australian real estate groups, is the seller of the real estate. The building will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
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Asset Manager News
Construction Underway At The Whit Wooster Square Mixed-Use Community In New Haven, Ct
Hines Grows Northeast Multifamily Portfolio with 230 Rental Homes and 5,600 Square Feet of Retail Across Two Buildings in Wooster Square Neighborhood
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Asset Manager News
GLP Europe Raises €1.1 billion for First Close of GLP Europe Income Partners II
Fund seeded with 1.9 million sqm of prime European logistics real estate assets