Patrizia Immobilien Kapitalanlagegesellschaft mbH is purchasing 508 apartment units with a total floor space approaching 50,000 sqm for its special funds investing in Germany. The overall investment volume comes to somewhat over EUR 125 million. The real estate purchased comprises existing apartments, residential properties under construction and project developments in Düsseldorf, Munich and Stuttgart.

“We have invested this sum in several transactions in residential properties for the German Real Estate Fund I and Urbanitas,” says Michael Vogt, managing director of Patrizia. “This very clearly underlines Patrizia’s purchasing policy. We are also only acquiring residential real estate for our special funds in locations featuring rising demand for a limited supply of property. The capitals of North Rhine-Westphalia, Baden-Württemberg and Bavaria belong to this category of so-called bottleneck cities.”

According to the results of Patrizia Research, an average of some 5,000 apartments would need to be built annually in both Stuttgart and Düsseldorf in order to meet demand. However, only a mere 1,000 apartments are being created at present. As a result, demand will dominate the market with corresponding effects on the development of rents and purchase prices. This can already be observed today in Munich, where according to the rent index last year alone rents rose by 6.3%.

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PIK Group and Storm Properties inform of the change in Storm Properties’ shareholder structure. Michael Belton, the founder of Storm Properties, in cooperation with the company’s management acquired from PIK Group a controlling stake in Storm Properties (51%).

Upon the agreement between the parties, Michael Belton and the management of Storm Properties receive control over the 51% stake in Storm Properties, which in turn owns a share in the commercial real estate project K2 Business Park, located in the Moscow region. In return, PIK Group receives a share in the commercial real estate project Pulkovo, located in Saint-Petersburg, which was previously held by Storm Properties.

Pavel Poselenov, CEO of PIK Group comments:
“This transaction upon Storm Properties reflects PIK Group’s strategy of focusing on its core mass-housing market segment in Moscow Metropolitan Area.”

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Matrix has refinanced the £120m development of a former Royal Navy site in Plymouth known as Mount Wise through the purchase of an existing loan at a discount. Matrix will now provide further finance to the developer, Mount Wise (Guernsey) Ltd, in order that 1st phase construction works can begin.

Mount Wise is a 28 acre, waterfront located site within a mature landscape only half a mile from Plymouth city centre. It has planning permission for 469 homes, a 21 bed hotel, 32,000 sq ft of office space, a 4,500 sq convenience store, 5,000 sq ft of A3/4/5 use, a cricket pavilion and a 50,000 sq ft Data Storage centre.

Galion, the company tasked with advising on the delivery of the project stated: “We’re delighted to be able to start developing this exceptional regeneration project.”

Mount Wise (Guernsey) Ltd was advised by Robin Lawson & Company and Real Estate Finance Partners Ltd. Pinsent Masons acted for Matrix and Clarke Willmott for Mount Wise.

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Biotech company, Biocontrol Ltd, which is working to develop the biological answer to antibiotic resistance, has moved in at Colworth Science Park, re-locating its research facility from Nottingham. The company has taken suite 130 in Colworth House Annexe, comprising 2,660 sq ft of labs and office space, in order to cater for its expanding business following successful clinical trials of its lead product BioPhage-PA.

Colworth Science Park is situated between Cambridge and Oxford in the village of Sharnbrook, near Bedford. It sits in 120 acres of natural parkland providing an outstanding research environment. Joint developers Goodman and Unilever refurbished parts of the building after it was vacated by Unilever, as the property is ideal to meet demand for smaller flexible business space from start up companies.

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Planning permission has been granted for one of the North West’s most prominent development sites at S:Park Stockport – a joint development between Helical Bar and Chancerygate.

Work has already started on this high profile 15 acre brownfield site adjacent to junction 27 of the M60 and fronting Portwood roundabout, Stockport.

Sales are also off to a flying start, with S:Park having already secured two substantial transactions:

· Infiniti Nissan, has acquired a two acre plot at the entrance of the estate for only its’ second car showroom in the UK, and

· Big Yellow, the UK’s leading self storage brand, has purchased a one acre site for a new 22,500 sq ft facility, which will undoubtedly become a new landmark with its direct frontage to the motorway.

S:Park Stockport is located at an important gateway to Stockport and offers opportunities for purpose built facilities. In addition to the two deals above, the scheme has planning approval for a 73,000 sq ft trade use, as well as light industrial / distribution and offices, with design and build opportunities available from 10,000 sq ft – 150,000 sq ft. Plots of land up to 6.85 acres are also available for sale.

Duncan Walker, Senior Development Executive at Helical Bar plc, commented “ Helical Bar is delighted to finally be starting on site at a time when very few other developments are commencing. The investment into the infrastructure works demonstrate our commitment to the development of a thriving business park which we believe will contribute jobs and investment into Stockport”

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CB Richard Ellis (CBRE) has today secured new offices in the West End of London pending the expiry of their current lease at Kingsley House, Wimpole Street W1 in May 2011. CBRE has entered into an Agreement for Lease to take Henrietta House, Henrietta Place, W1 which is being vacated by Diageo.

The landlord, Lazari Investments, is taking a surrender of the residue of Diageo's lease in order to completely refurbish the building in readiness for CBRE's occupation.

Following an innovative approach to the transaction CBRE will deliver the scheme on behalf of Lazari. CBRE will take an over-riding 15-year lease on the entire building, totalling approximately 98,000 sq ft. This will allow CBRE to manage the property for its own and the landlord's benefit.

Martin Samworth, Managing Director, CB Richard Ellis UK, said: “The building offers an excellent opportunity for the firm to move to a bigger, more modern facility with a higher profile following the expiry of the lease at Kingsley House. Henrietta House will enable us to further grow our London West End presence with long term security and controlled costs."

John Kent, Senior Director in CB Richard Ellis’ Lease Consultancy division, who structured the deal direct with Lazari Investments over a period of nine months, said: “The deal worked perfectly from our perspective as the lease at Kingsley House was drawing to a close and the building requires renovation. Therefore, staying in occupation would not have been possible and with the availability of Henrietta House in close proximity to Kingsley House and with the time to refurbish to our specification this was an opportunity too good to miss."

Christos Lazari, Lazari Investments, commented: "We are delighted to welcome CBRE as a tenant to this flagship West End Building and to having achieved this letting prior to the expiry of the current lease mitigating any void. We feel that having secured a tenant of this quality together with our refurbishing the building will enhance this asset further in keeping with our objective of upgrading the quality and longer-term income stream within our portfolio."

CB Richard Ellis will move to Henrietta House in the spring of 2011.

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CB Richard Ellis has bolstered its Building Consultancy team by appointing Matt Wilderspin as Senior Director. Matt joins from BNP Paribas Real Estate where he was National Head of Building Consultancy.

Matt’s primary area of expertise involves the provision of strategic and executive project management, working for a wide range of industrial, office and data centre clients.

David Hitchcock, Head of Building Consultancy at CB Richard Ellis commented: “I am very pleased to confirm Matt Wilderspin’s appointment as Senior Director. Matt’s decision to join CB Richard Ellis will augment our senior management team as market conditions continue to improve. He brings with him a wide range of skills and knowledge that will help the Building Consultancy team accelerate our plans for growth throughout the UK and increasingly mainland Europe.”

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Jones Lang LaSalle has advised Akron Group on the investment sale of Bakhrushin House business-centre to UFG Real Estate.

Bakhrushin House is a business centre located at 32-1 Bakhrushin Street, across the Garden Ring from Paveletskaya Railway Station, a prominent central business district in Moscow. The Class A building, with a gross area of 5,078 sqm, was constructed in 2002 and has institutional Western and Russian tenants including but not limited to BBC Russia, VTB 24, Megafon and Russia Consulting, a German consulting company.

Thomas Devonshire-Griffin, National Director, Head of Capital Markets, Jones Lang LaSalle: “We are delighted to have help advise Akron Group on the first institutional office investment transaction this year. The market has been somewhat dominated by owner occupiers over the last 18 months, and therefore the significance of this transaction is more than being the first this year – it is the first transaction where an institutional investor UFG Real Estate, acquired the asset from a foreign seller Akron Group since the beginning of the economic turmoil. Whilst Russian equity is still in the majority, and UFG are longstanding in the market, this transaction is an indicator of a return of stability and increased foreign capital flows into Moscow.”

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