Real Estate Updates – Page 41
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Asset Manager NewsPATRIZIA acquires build-to-rent development in Dublin, Ireland for EUR 93 million
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has agreed to forward purchase a 166-unit build-to-rent development in Harold’s Cross, Dublin 6, Ireland, for EUR 93 million from Marlet Property Group on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group. The transaction increases PATRIZIA’s portfolio in Ireland to EUR 650 million.
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Asset Manager News
Barings Expands Italian Portfolio With Logistics Acquisition In Veneto Region
Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of a portfolio of six logistics assets comprising c. 95,000 square meters. This acquisition also includes the forward funding of two pre-let developments, in Veneto region, North East of Italy, on behalf of one of its managed accounts.
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Asset Manager NewsKGAL establishes a fourth asset class
KGAL GmbH & Co. KG has founded a new subsidiary. Based in Frankfurt, KGAL Equity Partners GmbH & Co. KG offers institutional customers investments in private equity transactions involving companies associated with real estate and infrastructure. With this move, KGAL Group continues to pursue consistent growth.
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Asset Manager News
M7 sells Aerozone Logistics Park in Hungary
M7 Real Estate (“M7”), the pan-European investor and asset manager, announces the sale of Aerozone Logistics Park in Budapest, Hungary, to a South African investor, JTRoss Group on behalf of M7 Central European Real Estate Fund I (“M7 CEREF I” or the “Fund”).
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Asset Manager News
Barings Acquires Fully Let Grade A Logistics Asset with Development Opportunity in Toulouse, France
Barings, one of the world’s largest diversified real estate investment managers, announces the off-market acquisition of a new Grade A logistics asset in Muret, Greater Toulouse, from developer, Vectura, on behalf of institutional clients for a core investment strategy. Barings has also entered into a binding agreement to forward fund the development of a 23,000 square meter extension of the property.
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Asset Manager NewsPATRIZIA acquires Holiday Inn Express Hotel in Düsseldorf, Germany
PATRIZIA AG, the global partner for pan-European real estate investment, announces that it has acquired a fully let hotel in Düsseldorf, Germany, from DERECO.
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Asset Manager News
Barings Acquires Rea Farms Retail Property
Lincoln Harris, one of the Southeast’s preeminent commercial real estate development, investment and property management companies, announced today the sale of the retail portion of Rea Farms (the “Property”) to Barings, one of the world’s largest diversified real estate investment managers. The Property is located in Charlotte, North Carolina, and was purchased by Barings on behalf of an institutional investor.
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Asset Manager NewsOrchard Street completes Aberdeen office letting, taking Westpoint Business Park to full occupancy
Orchard Street Investment Management (‘Orchard Street’), the specialist commercial property investment manager, has completed a ten-year lease at Westpoint Business Park in Aberdeen with Borr Drilling Ltd, the international offshore drilling contractor, via its wholly owned subsidiary Paragon Offshore (Land Support) Ltd], who has agreed to take 15,023 sq ft of office space. This latest letting takes the business park to 100% occupancy.
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Asset Manager NewsPATRIZIA sells 18 Dutch residential complexes to Heimstaden
PATRIZIA AG, the global partner for pan-European real estate investment, has sold a portfolio of 18 residential complexes on behalf of a client to Heimstaden AB, the Swedish listed real estate investment company. The agreed sales price is EUR 97.4m.
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Asset Manager News
Allianz & Barings Provide USD319m in Debt Financing to Support the Acquisition of 650 Townsend in San Francisco
Allianz Real Estate, ranked as the world’s largest real estate investor, and Barings, one of the world’s leading financial services firms, on behalf of an institutional investor, announced today that they have co-committed in total USD319.1 million (EUR282 million) in debt financing under a co-lending agreement to fund the acquisition of 650 Townsend, a premier creative office building in San Francisco. The asset is being acquired through a sale-leaseback arrangement with the major tenant. Barings will be the lead lender and administrative agent for the transaction, with Allianz co-investing on a pari passu basis.
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Asset Manager NewsDekaBank arranges financing in Birmingham
DekaBank has acted as Sole Arranger and Underwriter on a £90.48m five-year term loan secured on Priory Court and The Lewis Building, Birmingham. The loan is being made available to a Property Unit Trust managed by Gulf Islamic investments (“GII”).
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Asset Manager News
Invesco Real Estate Forward-Funds Cluster Office In Paris
Invesco Real Estate forward-funds 17,600 sqm office building in Saint-Denis, North of Paris
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Asset Manager News
Invesco Real Estate To Acquire Strategic Prime Frankfurt Office Complex For €620M
Invesco Real Estate acquiring 80,500 sqm office building complex Die Welle
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Asset Manager News
Invesco Real Estate Enters Portuguese Hotel Market With Acquisition Of Three Hotels In Lisbon For €313m
Invesco Real Estate acquires its first hotels in Lisbon in a €313m deal with Minor International and NH Hotels, marking the largest ever hotel real estate transaction in Portugal.
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Asset Manager NewsLeaders in closed aircraft funds
Closed aircraft funds managed by investment and asset manager KGAL were rated very highly in an analysis published by investor magazine FONDS professionell, in which they accounted for 10 of the 15 best-rated aircraft funds. The company was named in positions 1–8, 10 and 11, with a surplus per annum of up to 11.88%.
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Asset Manager News
M7 Real Estate identified in London Stock Exchange Group’s ‘1000 Companies to Inspire Britain’ 2019 report
M7 Real Estate recognised in sixth edition of London Stock Exchange Group’s 1000 Companies to Inspire Britain report
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Asset Manager NewsPATRIZIA acquires 54,100 sqm German supermarket portfolio
PATRIZIA AG, the global partner for pan-European real estate investment, has acquired a portfolio of 19 food anchored retail assets in northern Germany on behalf of one of its pan-European funds from a private Irish vendor.
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Asset Manager News
UBS Asset Management completes disposal of Collgar Wind Farm, Western Australia
UBS Asset Management’s (UBS-AM) Real Estate & Private Markets (REPM) Infrastructure business announces that it has completed the disposal of its 60% interest in the Collgar Wind Farm, a renewable power project that generates and delivers wind electricity in Western Australia.
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Asset Manager NewsSagittarius Business House in Wrocław BREEAM Certified as “Excellent”
Hamburg / Wrocław, 20 June 2019 – The Sagittarius Business House just received its BREEAM International New Construction certificate, scoring an “Excellent” rating. The BREEAM audit was carried out by WSP Polska Sp. Z oo. Definitive for the rating were the transport and waste concept as well as the building’s energy and water consumption.
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Asset Manager NewsPATRIZIA sells mixed use portfolio in Copenhagen for EUR 50 million
PATRIZIA AG, the global partner for pan-European real estate investment, announces the sale of four mixed use office and residential properties in Copenhagen, Denmark, for €50 million (DKK 372 million) on behalf of its PATRIZIA Nordics Cities Fund. The portfolio has been sold to Jeudan, Denmark’s largest listed real estate company.
