Real Estate Updates – Page 33
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Asset Manager News
AXA Investment Managers - Real Assets completes forward purchase of 919-unit affordable housing rental portfolio in Madrid for €150 million
AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed, on behalf of clients, the forward purchase of a 919-unit affordable housing for rent portfolio in the Madrid region of Spain for €150 million. The portfolio’s vendors are Tectum Real Estate, a dedicated build to rent company, and Locare Real Estate, a development company with extended expertise in affordable housing.
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Asset Manager News
PATRIZIA sells German DIY portfolio for EUR 96 million
Portfolio comprising 71,000 sq m of retail space across seven assets
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Asset Manager News
IPUT announces largest green Revolving Credit Facility in the Irish real estate market
Upsized €300m RCF incorporates a €200m green component Green facility will finance 600,000 sq. ft. office development at Wilton Park Builds on IPUT’s commitment to UN Principles for Responsible Investment IPUT also raises €200m through inaugural US private placement
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Asset Manager News
Hines, Invesco Real Estate and Microsoft Corp. Announce Full-Building Lease at Atlantic Yards
The Fortune 25 Company Will Create 1,500 New Jobs in Burgeoning West Midtown Office Market
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Asset Manager News
TTB acquires minority stake in M7 amid continued Asian appetite for European real estate
TTB Partners, a Hong Kong based investment and advisory firm, today announced the acquisition of a minority stake in M7 Real Estate. The investment is the latest step in a wider collaboration between the two companies, as they seek to capitalize on the continued appetite from Asian investors for European real estate. TTB will utilize its own network of contacts in the region to access new capital pools looking to invest in UK and pan-European real estate, either through joint ventures or through investment funds.
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Asset Manager News
Orchard Street completes first letting at iconic Radio House Cambridge following major refurbishment
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed its first letting at Radio House office scheme in Cambridge to Sentec, a globally leading supplier of smart home technology and consultancy services.
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Asset Manager News
M7 sells Dutch light industrial portfolio for c. €140 million
M7 Real Estate (“M7”), the pan-European investor and asset manager, announces that it has sold a light industrial portfolio in the Netherlands to the Canadian real estate investor, Dream Industrial REIT, on behalf of M7 European Real Estate Investment Partners IV (“M7 EREIP IV” or the “Fund”), for circa €140 million. M7 will be retained as advisor for the portfolio.
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Asset Manager News
PATRIZIA sells 8,600 sqm office building in Berlin
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has completed the sale of a multi-let office building in Berlin, Germany, to LaSalle Investment Management.
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Asset Manager News
Sl Green, National Pension Service Of Korea And Hines Form Joint Venture Partnership At One Madison Avenue
Manhattan’s largest office landlord, today announced that it has sold a 49.5% interest in One Madison Avenue to the National Pension Service of Korea (“NPS”) and Hines Interest LP (“Hines”). NPS and Hines have committed aggregate equity to the project totaling no less than $492.2 million. SL Green Realty Corp. and Hines will co-develop the $2.3 billion project, which will span 1.4 million rentable square feet upon completion.
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Asset Manager News
Generali Global Infrastructure Q2 newsletter
This quarter, we asked Jacques Delpla, a well-known French economist, to share his views about the current crisis. Jacques Delpla’s views are not put forward as recommendations, recognising that other views exist but the analysis clearly shows the severity of the shock and the potential implications in terms of contraction of GDP and increase in public deficits.
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Asset Manager News
Invesco Real Estate Completes Atlanta Office Investment
Invesco Ltd. today announced that Invesco Real Estate, the company’s global real estate investment business, has acquired “Edison Windward” a newly-built office project in the desirable Atlanta real estate submarket of Alpharetta for an undisclosed sum on behalf of one of its separate account clients.
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Asset Manager News
Hines Completes Acquisition Of 150,000-Square-Meter “Ex Trotto” Area In Milan’s San Siro District
City of Milan to gain new spaces: a large green area open to the public featuring a residential offering with a significant share of affordable rentals
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Asset Manager News
Well Living Lab, Delos, Cushman & Wakefield And Hines Align To Advance Return-To-Workplace Guidelines In Response To The Covid-19 Pandemic
Well Living Lab to evaluate methods and establish guidelines to reduce air and surface viral transmission, strengthen physical-distancing measures and enhance employee performance as organizations contemplate their return to offices
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Asset Manager News
PATRIZIA buys large office building in Luxembourg city centre
PATRIZIA AG, the global partner for pan-European real estate investment, announces the acquisition of the AIRE office building in Luxembourg City on behalf of its institutional clients. The acquisition increases the number of properties PATRIZIA manages in Luxembourg to 13, comprising total space of around 87,000 sqm, with a total value of approximately EUR 800 million.
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Asset Manager News
PAMERA buys 14,500 sq m multi-let property in southern Düsseldorf from M7 Real Estate
PAMERA Real Estate Partners (“PAMERA”), acting for a family office managed by the company, has acquired a 14,500 sq m office property with storage/production space at Reisholzer Werftstrasse 38-42, in the south of Düsseldorf. The vendor is M7 EREIP IV, an M7 Real Estate (“M7”) fund, for which M7 is the asset manager.
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Asset Manager News
Hines, Urban Atlantic, Triden Development Group, And Bridge Investment Group Close On Land To Develop Luxury Apartments At The Parks At Walter Reed
Hines, Urban Atlantic, and Triden Development Group along with joint venture partner, Bridge Investment Group, announced today they have closed on one and a half acres at The Parks at Walter Reed to develop The Hartley, a 323-unit luxury, multifamily property, anchored by natural and organic grocer Whole Foods Market. Santander Bank N.A. and EagleBank are providing the construction financing.
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Asset Manager News
Orchard Street completes disposal of West Yorkshire logistics asset for £13 million
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, announces that it has completed the sale of an NHS logistics unit operated by Unipart in Normanton, West Yorkshire, to Urban Logistics REIT for £12.9 million. The sale price reflects a net initial yield of 5.24%.
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Asset Manager News
PATRIZIA buys BTR development in Amsterdam
PATRIZIA AG, the global partner for pan-European real estate investment, announces the acquisition on behalf of its clients of a 114-unit turnkey residential development in Amsterdam, the Netherlands, from Biesterbos Groep, a Dutch real estate investor and conceptual developer. This transaction increases PATRIZIA’s total assets under management in The Netherlands to EUR 2.1 billion.
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Asset Manager News
Hines Completes Sale of Stuttgart Office Asset
The 14,822-square-meter office complex has been sold to investment management company Arminius, acting on behalf of German institutional investors, for an undisclosed price, after a competitive sales process managed by Colliers International.
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Asset Manager News
PATRIZIA sells residential portfolio in the Netherlands on behalf of clients
PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of a large, mainly residential portfolio for EUR 375 million. The portfolio comprises 2,023 residential and 60 other, mainly commercial units, located in 29 cities in the Netherlands. Sixty percent of the properties are situated in the so-called Randstad megalopolis, the urban area in and around Amsterdam and Rotterdam with strong macro-economic growth prospects. The buyer is the Swedish residential real estate company, Heimstaden.