Manager News – Page 49
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Asset Manager News
Orchard Street launches new ‘Fitted, Furnished and Ready to Go’ office space at Dunn’s Hat Factory, Camden
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed two new lettings at Dunn’s Hat Factory, Camden, alongside unveiling its new offering of ‘Fitted, Furnished and Ready to Go’ accommodation which serves the shorter-term commercial lettings market, a third of which is already under offer.
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Asset Manager News
Vibrant, Mixed-Use Redevelopment In Downtown Omaha To Be Known As “The Mercantile”
Hines, the international real estate firm, along with Conagra Brands today announced that the redevelopment of a portion of Conagra’s existing campus will be named The Mercantile. The Mercantile will be a vibrant mixed-use addition to Omaha’s downtown community.
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Asset Manager News
PATRIZIA makes key residential acquisition in Copenhagen
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has acquired a fully let, 127-unit residential asset in the Valby district of Copenhagen, Denmark, from Europa Capital and Keystone Investment Management A/S.
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Asset Manager News
Bouwinvest leases 550 sqm retail unit in De Promesse Lelystad
The Bouwinvest Retail Fund has leased circa 550 sqm of retail space in De Promesse shopping centre in Lelystad to drugstore Kruidvat on a long-term contract. The store was previously leased to the failed Dutch discount chain OP=OP and has since undergone a comprehensive refurbishment. Kruidvat will officially open its new store in Lelystad on Wednesday, 13 November.
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Asset Manager News
West Elm Opens Today In Hines’ Rookwood Commons
Hines, the international real estate firm, announced today that home furnishings store West Elm has opened at Rookwood Commons, a 340,059-square-foot lifestyle center. The 11,900-square-foot store will be West Elm’s only location in Cincinnati. Owned by Williams Sonoma, West Elm, has other stores in Ohio, including Columbus and Orange Village. With a commitment to supporting emerging creatives, West Elm will sell products created by local makers and offer pop-ups and workshops hosted by local artists and businesses.
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Asset Manager News
PGIM Real Estate acquires residential property in Frankfurt for Core European Strategy
PGIM Real Estate has acquired a residential building in Frankfurt’s Sachsenhausen South district on behalf of its recently launched European core open-ended real estate strategy.
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Asset Manager News
Greystar Announces $2 Billion Final Close for 10th U.S. Multifamily Value-Add Real Estate Fund
Greystar Real Estate Partners, LLC (“Greystar”), a global leader in the investment, development and management of high-quality rental housing properties, announced today, on behalf of its affiliates, the final close of Greystar Equity Partners X (“GEP X”) with aggregate equity commitments of $2 billion from a diverse group of global institutional investors from North America, Continental Europe and Asia-Pacific. GEP X represents the largest ever fundraise for a U.S. multifamily value-add fund. GEP X is the 10th in Greystar’s flagship series of funds focused on acquiring existing assets in top U.S. markets that exhibit favorable rental housing fundamentals.
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Asset Manager News
Deka Immobilien acquires part of the “Forum” in Rotterdam
Deka Immobilien has acquired a core-renovated historical office and retail property in the heart of Rotterdam for EUR 64 million. The building will be added to the property portfolio of the open-ended real estate fund WestInvest InterSelect. The property was sold by the Dutch developer and real estate manager Multi Corporation.
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Asset Manager News
Invesco Real Estate Forward-Funds Bryggens Bastion In Copenhagen
Residential asset is the firm’s second Danish residential transaction and reflects increasing demand from institutional investors for residential products
Off-market, forward-funded residential development in central Copenhagen further grows Invesco’s pan-European residential footprint
Building being developed by Bach Gruppen A/S and due for delivery in 2021 -
Asset Manager News
Hines And Cerberus Acquire 2.1 Million-Square-Foot Complex In Houston
Hines, the international real estate firm, and an affiliate of Cerberus Capital Management, L.P. (Cerberus), a global leader in alternative investing, have officially closed on 600 Travis Street (formerly JPMorgan Chase Tower) and the adjacent 601 Travis Street (formerly JPMorgan Chase Center), totaling 2.1 million square feet of office and retail space in downtown Houston.
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Asset Manager News
Bouwinvest Dutch Retail Fund best performing real estate fund in the Netherlands - MSCI
The Bouwinvest Retail Fund has been named the best performing specialist real estate fund in the Netherlands by market analysts MSCI. The Retail Fund achieved the highest total return compared with the MSCI Dutch sector benchmark over three years, up to and including December 2018.
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Asset Manager News
24th At Camelback I Achieves Leed Platinum Certification
Hines, the international real estate firm, announced today that 24th at Camelback I has been certified Platinum under the U.S. Green Building Council’s LEED® for Existing Buildings: Operations & Maintenance (EBOM) Rating System. The property, owned by NYL and managed by Hines, first achieved LEED Gold in 2010. Today, 24th at Camelback I joins 24th at Camelback II as one of only two LEED Platinum-EBOM Certified office properties in the state.
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Asset Manager News
24th at Camelback I Certified for Over 300,000 Square Feet of Connected Office Space
The certification signals the eight-story Class A office building can provide tenants with best-in-class connectivity
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Asset Manager News
Tribeca Investment Group, PGIM Real Estate and Meadow Partners Enter into New Ground Lease at the Textile Building in Manhattan
A newly-formed joint venture among Tribeca Investment Group and funds managed by PGIM Real Estate and Meadow Partners today announced they have entered into a new 99-year ground lease at 295 Fifth Avenue, a 17-floor, 700,000-square-foot property occupying the full block along Fifth Avenue between East 30th and East 31st streets in Midtown South. The joint venture plans to commence a nearly $300 million repositioning program that will transform the building into a Class A office tower, capitalizing on the strong demand for large floor plates in the area’s tight office market.
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Asset Manager News
Orchard Street completes repositioning of West London industrial assets, doubling rental income
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed 12 separate asset management initiatives across 150,000 sq ft of multi-let industrial accommodation at its 215,000 sq ft West Drayton, London estates. As a result, both the contracted rental income and average lease lengths have more than doubled over the last 18 months.
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Asset Manager News
One Museum Place Named Best Green Development
Hines, the international real estate firm, is pleased to announce that the recently completed One Museum Place—which is distinguishing itself in the Shanghai market with a combination of robust, innovative design and sustainability features—has been awarded the Best Green Development at the 2019 MIPIM Asia Awards. The project and development team will be honored at an awards ceremony in November.
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Asset Manager News
Workstation Awarded Prestigious Well Core & Shell Certification
Hines, the international real estate firm, announced today that it has been awarded WELL Core & Shell Certification at the Gold level for WorkStation by the International WELL Building Institute™ (IWBI™). The prestigious distinction was awarded through IWBI’s WELL Building Standard™ (WELL), which is the premier building standard to focus on enhancing people’s health and wellness through the buildings where we live, work and play.
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Asset Manager News
PATRIZIA strategically partners with WiredScore
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has made a strategic investment in WiredScore, the global rating scheme for digital connectivity across commercial and residential real estate.
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Asset Manager News
DekaBank refinances property in Stuttgart
DekaBank has arranged a loan on behalf of Hines Pan European Core Fund HECF to refinance the building “Caleido” in Stuttgart. DekaBank is the sole underwriter of the loan of EUR 41.5 million, which has a term of seven years.
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Asset Manager News
KGAL buys the Kontor II property in Leipzig
KGAL, a leading independent investment and asset manager, has acquired its third office complex in Leipzig. Kontor II is situated in the Graphisches Viertel. KGAL has purchased the complex for a special AIF for real estate, which is engaged Europe-wide.