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KKR acquires Finish residential portfolio from Kruunuasunnot

Finland - KKR has agreed to acquire a high-quality portfolio of thirty residential properties in Finland from Kruunuasunnot. The portfolio comprises over 1,200 residential units with two thirds of the portfolio located in the country’s three largest cities of Helsinki, Turku and Tampere.
Friday, 26. May 2023

Garbe buys conversion site in Gera

Germany - Garbe Industrial Real Estate GmbH has acquired a conversion site of around 48,000 square metres in Gera, a town located in the east of Thuringia. The plan is to build a logistics and commercial property with a total area of 28,000 square metres there. Construction is scheduled to begin in April 2024.
Friday, 26. May 2023

Office property market pbbIX still on the slide

Germany - The German economy is moving sideways. Following a decrease of 0.5% in the third quarter of 2022, real gross domestic product remained unchanged during the first quarter of 2023, and investors are adopting a distinctly wary approach both on the market for office space and on the investment market despite a cautiously optimist...
Friday, 26. May 2023

pbb pays dividend of € 0.95 per share

Germany - Shareholders of Deutsche Pfandbriefbank AG (pbb) followed the proposals of the Management Board and Supervisory Board in all respects at the virtual Annual General Meeting on Thursday. Thus, the Annual General Meeting approved the distribution of a dividend of € 0.95 per no-par value share entitled to dividend, i.e. a total o...
Friday, 26. May 2023

Czech industrial real estate market reaches 11m sqm mark

Czech Republic - During the first three months of 2023, the Czech industrial real estate market passed the 11 million m2 mark. The market grew by 10% year-on-year, which is 1.5 percentage points higher than the five-year average. The total volume of newly completed industrial space amounted to 217,900 sqm in the first quarter of this year.
Friday, 26. May 2023

Hyatt to open 181-room luxury hotel in Frankfurt

Germany - Hyatt has entered into a franchise agreement with SIC Hospitality GmbH for Kennedy 89, a luxury hotel currently under development. Set to open within The Unbound Collection by Hyatt brand later this year, the 181-room luxury hotel will be tailored for discerning travellers who appreciate sophistication, comfort, and a sense o...
Friday, 26. May 2023

UKCM sells Wembley logistics asset to the LDS Church for £74m

UK - UK Commercial Property REIT Limited has sold its 186,455 sq ft Wembley180 logistics asset in London to Covent Garden IP Limited (CG), a registered charitable company. UKCM will get a consideration of £74 million, which reflects a net initial yield of 3.49% and is broadly in line with the 31 March 2023 valuation.
Friday, 26. May 2023

Central cities are ripe for reinvention in the aftermath of the pandemic

Global News - Cities globally are at an inflection point, navigating structural changes to how people live and work due to the pandemic. JLL’s new The Future of the Central Business District report explores how cities are adapting to these changes and how the public and private sector can collaborate to help central districts remain releva...
Friday, 26. May 2023

Peach Property General Meeting approves all agenda items

Switzerland - The shareholders of Peach Property Group AG approved all of the agenda items at today’s Ordinary General Meeting with a clear majority. A total of approximately 44 percent of the share capital, respectively 72 percent of the registered voting rights were represented at this year’s General Meeting in Zurich. After an interrupt...
Thursday, 25. May 2023

BayernLB set to open office in Amsterdam

The Netherlands - BayernLB is expanding its real estate business in the Netherlands and will be opening its own sales office this year in Amsterdam on 1 July. Focus of the Bank will be commercial real estate customers from the Netherlands.
Thursday, 25. May 2023

French CDC invests in Munich at the start of Germany

France - CDC Investissement Immobilier, on behalf of French Caisse des Dépôts, and FOM Real Estate have recently signed, in a joint venture (CDC 90% / FOM Real Estate 10%), the acquisition of an office building located in the centre of Munich. The closing is expected before summer.
Thursday, 25. May 2023

AC Hotels announces opening of its first hotel in Malta

Italy - AC Hotels by Marriott, part of Marriott Bonvoy’s portfolio of 30 brands, has expanded its European footprint with the opening of its first property in Malta. AC Hotel by Marriott St. Julian’s brings The Perfectly Precise Hotel experience to the vibrant coastal town of St. Julian’s. Owned and managed by The Ona Hospitality Ltd...
Wednesday, 24. May 2023