Berlin-based Catella Residential Investment Management’s (CRIM) Catella European residential (CER) III fund has secured €125 mln from two new institutional investors. The pledges include €100 mln from a large Dutch pension fund and €25 mln from a leading German fund manager, bringing its total capital commitments to €235 mln. Michael...
Property organisations ask UK government for radical support for landlords
Landlord and retailer bodies have requested that the UK government set up a ‘furloughed space’ scheme to pay rent and service charges owed by tenants. The British Property Federation and British Retail Consortium, supported by other UK property lobby groups, have written to the UK Chancellor, Rishi Sunak, making the...
Metrika completes record Russian office deal
Russian investment firm Metrika Investments has purchased the office part of Renaissance Development's flagship IFC Neva Towers scheme, in what is considered the largest Russian commercial real estate deal of 2019. Financial details were not disclosed for the transaction, which was agreed in December 2019. The asset, which comprises 56,158...
Henderson Park clinches Berlin office deal during crisis
Henderson Park, the pan-European private equity real estate platform, has completed the acquisition of four Grade A office properties in Berlin from Caleus Capital Partners at the height of the Covid-19 crisis. Financial details were not disclosed. The deal, which closed on 17 April, comprises four predominantly office assets covering...
Singapore’s Elite announces first close of European logistics fund
Singapore-based alternative asset management firm Elite Partners Capital has announced the first close of its pure-play Elite Logistics Fund, which has a target size of €150 mln. Initially launched in January, the vehicle seeks investment opportunities across Europe’s logistics markets.Elite Partners did not mention the amount raised in the first...
Kungsleden appoints new finance chief
Swedish property group Kungsleden has announced the appointment of Ylva Sarby Westman as new chief financial officer. Sarby Westman will also remain the Group’s Deputy CEO, with overall responsibility for Kungsleden’s Transaction function, Valuation, HR, Sustainability and IT. ‘With 25 years in the industry, 11 of which in various senior...
Record investment volumes in Europe for Q1, ‘significant’ impact from Covid-19 expected for Q2
Total real estate investment in Europe reached €85.5 bn in Q1 2020, representing a 52% increase on the same period last year, according to the latest data from global real estate advisor, CBRE. This was a record Q1 performance for European CRE, surpassing the previous high seen in Q1 2015....
Amundi enters Poland with mixed-use asset buy amid coronavirus
Amundi Real Estate, on behalf of its managed funds, has completed the acquisition of the Nowogrodzka Square office and retail building in the heart of Warsaw, from Polish property developer Yareal. The deal, which was signed on Wednesday, involves a 11,529 m2 complex over six floors and an underground carpark...
Patrizia buys large office building in Luxembourg city centre
German property firm Patrizia has acquired the Aire office building in Luxembourg City on behalf of its institutional clients for a price thought to be in the region of €70-75 mln. The acquisition increases the number of properties Patrizia manages in Luxembourg to 13, comprising total space of around 87,000...
L&G gets green light for €247m UK retirement community project
Legal & General has received planning permission from the Reigate and Banstead Borough Council for the development of one of the UK’s largest retirement communities on the site of its former head office, Legal & General House in Kingswood, Surrey. The scheme, which will be delivered by L&G’s later living...