Real Estate Updates – Page 36
-
Asset Manager News
Orchard Street completes acquisition of prime Greater London industrial estate for £40 million
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed the acquisition of a prime industrial estate in Chessington, Greater London for £40.25 million. The asset was acquired from Aberdeen Standard Investments on behalf of St James’s Place UK Plc.
-
Asset Manager News
Deka Immobilien acquires office tower in Australia
Deka Immobilien has exchanged contracts to secure the purchase of an office building for around EUR 230 million in Brisbane, the capital of the state of Queensland, in the north-east of Australia. The seller is a joint venture 50% owned by the Lendlease managed Australian Prime Property Fund Commercial. The property will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
-
Asset Manager News
Invesco Real Estate Sells Distribution Centres On Behalf Of Invesco’s Strategic Opportunities Investment Programme
Invesco Real Estate (Invesco), the global real estate investment manager, has sold two build- to-suit distribution centres in Poland totalling 105,000 sqm to the Chinese Investment Company, CGL Investment Holdings Corporation. The sale was made on behalf of Invesco’s strategic opportunities investment programme and the corporate transaction has set new records for the market with assets valued based on a record yield for the Polish logistics market of 4.25%.
-
Asset Manager News
Meyer Homes & Invesco Real Estate Completes £107M Build-To-Rent Hounslow Scheme
Today, 15th January, residential developer Meyer Homes, have completed their fourth major development project in London, and their first build-to-rent collaboration with Invesco Real Estate, the global real estate investment manager, delivering 293 new homes (14 houses and 279 apartments), in the London Borough of Hounslow, West London. The 25-month project, which was completed ahead of schedule, has seen the delivery of 38 affordable homes to Clarion, 255 homes to Invesco Real Estate for its growing UK build-to-rent (BtR) strategy, and 10,000 sq. ft of commercial space.
-
Asset Manager News
PATRIZIA adds residential property to HafenCity
The architecture firms selected to help PATRIZIA develop two prime sites in the Hamburg HafenCity project have been announced.
-
Asset Manager News
DLA Piper Signs New Lease At Texas Tower
Hines and Ivanhoé Cambridge announced today that law firm DLA Piper has signed a more than 14-year lease for over 31,000 square feet at Texas Tower, the 47-story, one-million-square-foot office tower under development in Houston. The law firm will relocate to the building in January 2022 and will occupy the 38th floor.
-
Asset Manager News
Hines—In Partnership With USAA Real Estate And Philena Properties—To Build West Edge, A Mixed-Use Project In Los Angeles
Hines, the international real estate firm, along with investor USAA Real Estate and Philena Properties announced construction of West Edge, a transformative, transit-oriented, mixed-use development situated within the creative heart of West Los Angeles. Featuring eight stories of creative office space, 600 luxury rental apartments, a full-service natural grocer, eight restaurants, in addition to cafes, boutique retail, and studio fitness options, West Edge will contribute to the vibrant local community and transform the West LA neighborhood.
-
Asset Manager News
Invesco Real Estate Acquires Bravern Office Commons in Bellevue Leased to Microsoft
Invesco Real Estate, a global real estate investment manager, today announces that it has acquired two Class A office buildings within the broader Bravern mixed-use development in the CBD of Bellevue, Washington for an undisclosed amount. The office buildings have been acquired from Principal Real Estate and PNC Realty on behalf of one of Invesco Real Estate’s institutional separate account clients. The offices are 100% leased to the Microsoft Corporation.
-
Asset Manager News
Greystar acquires MB275 in The Hague developed by UrbanTTP
Greystar Real Estate Partners, LLC (“Greystar”), the global leader in rental housing, on behalf of its affiliates, today announces the acquisition of MB275 through one of its managed funds. MB275 is based in The Hague and is sold by UrbanTTP BV, a developer specialised in the development of rental apartment buildings and hotels in the Netherlands.
-
Asset Manager News
Orchard 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.
-
Asset Manager News
PGIM 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.
-
Asset Manager News
M7 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.
-
Asset Manager News
Union 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
-
Asset Manager News
CORESTATE 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 ...
-
Asset Manager News
PATRIZIA 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.
-
Asset Manager News
Deka 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.
-
Asset Manager News
M7 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.
-
Asset Manager News
PATRIZIA 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.
-
Asset Manager News
Hines 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.
-
Asset Manager News
PGIM 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.