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» Chronological View: " Residential " «

Bonava sells two rental projects in Dresden and Leipzig

Bonava is selling two rental projects in Dresden and Leipzig to the property company Industria Wohnen. The transaction encompasses a total of 181 rental apartments. The total sales price amounts to approximately SEK 475 million (c. € 46,15). The project in Dresden encompasses 116 apartments while the Leipzig project includes ...
Wednesday, 2. January 2019

Lar Espana begins to deliver apartments at Lagasca 99

The Lagasca 99 project developed by Lar España Real Estate Socimi in a joint venture with the investor Pimco, is now moving into its final stage. The sales deeds of the first apartments to be sold are being signed at notary before Christmas, and the keys are being handed over to their new owners.
Wednesday, 2. January 2019

BVK acquires resi development „Stuttgart City Prag“ from Instone

Instone Real Estate and Bayerische Versorgungskammer (BVK), Germany’s largest public-law pension scheme, are pooling their residential construction capacities for a neighbourhood development in Stuttgart. Instone is raising the “Stuttgart City Prag – Wohnen im Theaterviertel” project in a central location close to downtown St...
Wednesday, 2. January 2019

Adler and Benson Elliot enter into a JV to dispose of 2,300 residential units

Following the announcement published on 18 April 2018, Adler has now successfully entered into a joint venture agreement with Benson Elliot Capital Management. The Joint Venture entity will focus on disposing of 2,318 units it acquired from Adler. The assets transferred into the JV have Gross Asset Value of €117.7m and were t...
Tuesday, 1. January 2019

Aedifica purchases a £450 million healthcare real estate portfolio

Aedifica SA has acquired a high quality portfolio of 93 healthcare properties around the UK from an affiliate of Lone Star Real Estate Fund IV, comprising more than 5,700 ensuite beds. All the properties are leased to a diversified range of 14 tenants on index-linked triple net leases with a weighted average remaining lease t...
Monday, 31. December 2018

CA Immo hands over residential and commercial building in Mainz to Aberdeen

Yesterday, CA Immo handed over a residential and commercial building on the Rheinallee III site in Zollhafen Mainz to the end investor, Aberdeen Standard Investments Deutschland AG. CA Immo constructed the property for a special property fund managed by Aberdeen Asset Management.
Thursday, 27. December 2018

Nordea Liv sells property in Oslo suburb

Nordea Liv has sold care homes and a business area in Sandvika, just outside Oslo, to UBS (CH) Property Fund Europe. The sale price for the two properties amounts to c. €43.4 million (NOK 430 million). The investment in Sandvika is the first move by the UBS fund in Norway. Newsec has acted as advisor to Nordea Liv.
Thursday, 20. December 2018

Bonava sells 567 apartments in Berlin and Hamburg

Bonava is selling a residential rental project in Berlin, which comprises 470 rental apartments, for c. €130 million (SEK 1.3 billion) to Industria Wohnen. The project is expected to be handed over to the customer and recognised in profit from the second quarter of 2021. In Hamburg, the company selling a rental project to Wer...
Thursday, 20. December 2018

Heijmans and Staedion sign The Hague Southwest restructuring agreement

Heijmans and Staedion have signed an agreement to develop an urban planning vision for The Hague Southwest together with the municipality of The Hague, to restructure and renovate the neighbourhoods Zichten, Dreven and De Gaarden. Earlier this year, the municipality of The Hague and Staedion announced their intention to give ...
Wednesday, 19. December 2018

YIT, HGR and their joint venture Regenero sell the Tietotie 6 property in Espoo

YIT, HGR Property Partners and their joint venture Regenero have sold the Tietotie 6 property they owned in Otaniemi, Espoo to Special Investment Fund eQ Care (AIF). The lettable area of the property is approximately 26,000 square metres. The parties have agreed not to disclose the purchase price.
Wednesday, 19. December 2018

Inland Homes acquires major resi development site in Dagenham

Inland Homes has exchanged contracts to acquire a major development site in Dagenham, East London, which has an anticipated gross development value of circa £95 million (c. €105.6 million). The four acre brownfield site, which was previously part of the former Ford manufacturing plant, lies within the London Riverside Opportu...
Wednesday, 19. December 2018

AviaRent acquires senior care residence for €8m

The Luxembourg fund manager AviaRent Capital Management S.à r.l has acquired the eighth object for the CareVision III fund. „With the purchase of the senior residence in Irmtraut, we were able to expand our care portfolio to around 5.500 places“, says Yenna Haack, Head of Acquisitions.
Wednesday, 19. December 2018

REM and Sellar celebrate Shard Place' “tooping out"

Real Estate Management (UK) Limited (“REM”) and Sellar celebrated Shard Place, the third phase of development at Shard Quarter, reaching its highest point with a traditional construction topping out event. The 26-storey residential building stands between The Shard, Western Europe’s tallest building, and The News Building in ...
Tuesday, 18. December 2018

CSD begins construction of 391-bed student housing development Howard Gardens

Crosslane Student Developments has commenced on its 391-bed purpose-built student accommodation (“PBSA”) development located at the northern end of Howard Gardens in Cardiff. This property represents the fifth development under Crosslane’s joint venture with Harrison Street Real Estate Capital LLC.
Tuesday, 18. December 2018

The German real estate market boom comes to an end

The boom in the German real estate market is coming to an end. However, the favourable market conditions will continue in 2019. That is the core thesis of global real estate services provider Savills in its “Outlook for the German real estate market”.
Tuesday, 18. December 2018

BNP Paribas REIM sells several properties in Cologne and Nuremberg

BNP Paribas REIM Germany recently sold further properties on behalf of an institutional investor from the insurance sector. The transactions were conducted within the context of the investor's strategic repositioning of its real estate portfolio and took advantage of the favourable market situation.
Tuesday, 18. December 2018

Grainger agrees to forward fund and acquire a 373 home

Grainger has agreed to forward fund and acquire a 373-home PRS development at Exchange Square in Birmingham for c. £77m (c. €85.6m). The developer is Nikal Limited. The scheme will form part of a new urban village at Exchange Square. The building will be a prestigious landmark for those arriving at the Birmingham HS2 Curzon S...
Tuesday, 18. December 2018

Adler sells 1,400 residential units of its non-core residential portfolio

Adler signed a binding sale and purchase agreement to dispose of c.1,400 residential units of its non-core portfolio. These assets are currently valued at €61.5m, have a 31% vacancy rate with an average rent of €4.52 sqm/month and are being sold at book value. Residential units are mainly located in NRW (40%), Saxony (22%), a...
Monday, 17. December 2018