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WP Carey to shed office assets through sales and new REIT

WP Carey is to exit the office sector by spinning-off 59 office properties into a new publicly traded REIT and by selling 87 other office properties.
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Debt still compelling although equity performance is on its tail

Experience in timber makes difference for new advisory firm

Asset selection centre stage as the slow correction continues

EIB backs CTP’s solar panel roll out with €200m finance deal

Axa starts development of Munich hybrid timber offices

Investors seek poor performers for sustainability upgrades: KF

Redos and Shell add charging infrastructure to retail parks

Threestones Capital acquires German retirement homes

Cromwell’s Janki shopping centre gets €66m green loan

Quintain’s Wembley refinance one of largest UK deals of 2023

Greystar acquires Veld/Freo office-to-resi Paris project

Union Investment makes third investment in Irish resi market

UK’s EPIC resolves to sell entire portfolio of retail warehouses

Orion buys Nexity Portugal resi arm: projected worth €450m

Multi Corporation plans hi-spec office and resi in Amsterdam

KKR and Ikea retailer give grid-scale battery backup a boost

Serbian supermarket chain signs half of CTP Belgrade park

Capital & Regional REIT buys Edinburgh mall for £40m

BGO provides €115m debt to refinance Dutch retail portfolio

Praxis/Veld JV pays £125m for Birmingham’s Brindleyplace

P3 expands French portfolio into Lyon and Rhône markets

Principal manage-to-core fund pays €10m for two data centres

P3 Logistics boosts Germany portfolio with Bavarian assets

Union sentiment survey reveals European CRE mood sombre

CPI Property Group arranges new €635m bridge facility

Europe’s debt funding gap reaches 20-year record high

Urban Partners fund raising increases Nrep fund to €1.85bn

Logistics asset prices could stabilise by Q3 or Q4: Garbe

Verdion starts spec phase of €100m Berlin logistics project

New LondonMetric PV arrays cut tenants’ grid power needs

Bank rate takes toll on UK property investment totals

Surplus renewables to cut gas use in Vonovia apartments

Patrizia’s Nordic JV buys Swedish urban logistics assets

Summer break

M&G taps into Spain’s demand with €98m Bilbao BTR project

Future-proofed Dublin project awarded WiredScore accolade

Nordic Nrep acquires majority stake in Polish logistics firm 7R

Slate AM to acquire X-Bricks’ €1bn food retail portfolio

Hines planning 2 million sq ft office-led London project

Coima/QIA Milan sale marks Union’s Italian office debut

More science space needed for UK’s depleted ‘golden triangle’

ULI Europe selects six finalists for the Awards for Excellence

Price and valuation divergence stand out in Sweden and NL

Investors seek different routes as uncertainty persists: Colliers

Macquarie core/core+ logistics fund final close hits €260m

Aareal Bank refinances London PBSA portfolio for Chapter JV

Cadillac Fairview/Boreal JV buys Italian logistics portfolio

German H1 resi portfolio sales lowest since 2011: NAI Apollo

Acquisitions put AEW among Spain’s largest retail buyers

Segro sale heralds P3 Logistic Parks’ move into UK market

£100m debt secured for UK’s largest modular BTR scheme

European investment lowest since 2010 – no sector spared

Via Agora sells Madrid BTR project to Aviva resi platform

€45m Tristan loan backs Elfi office-to-BTR conversion in NL

Listed London office landmark to be reborn as life science hub

Cromwell/Bain JV targets Tuscany for logistics project

Holes in expertise challenge property’s enthusiasm for ESG

Schroders Capital wins consent for the City’s third tallest office

Deka Immobilien and VGP in €1.1 bn logistics joint venture

Investors should avoid certain German cities says new report

CapMan’s €400m finance deal opens Finnish network growth

Fabege’s €290m Stockholm office sale aids NREP strategy

KGAL wind and solar energy fund invests €1.3bn in Europe

Canary Wharf life science development gets green light

SWF provides Azora vehicle with €500m dry powder

Hines’s HEVF 3 expects to exceed €1.5bn equity target

La Francaise buys Marseille hotel project from BNP Paribas

Power restrictions hinder some markets’ data centre growth

SpaceGenie targets Germany’s lack of self storage facilities

UK faces warehouse supply crisis as 60% likely obsolete

ECE Work & Live developing €65m of luxury resi in Rome

Mandarin Oriental checks in to Bankside scheme in London

Reform over-complex UK planning system say REITs

Commerz Real sells AEW hotel at Charles de Gaulle Airport

Coima refinances Milan’s Corsa Como Place with €137m facility

Twin tower shuffle: S Immo buys Vienna towers for €116m

NREP bags a majority stake in resi firm Klovern in €500m deal

‘Meaningful discounts’ for rents on Cheyne’s Manchester BTR

Patrizia rooftop power plant joins Europe’s race to net zero

Berlin Hyp’s social loan targets affordable housing supply

GLP’s Netherlands rooftop PV project one of largest in Europe

Cambridgeshire barracks sale heralds start of 6,500 homes

Green roof requirements could make 76% of offices redundant

Sonae and Signal to develop Lisbon mixed-use project

£500 draw prize up for grabs for logistics census participants

£1.5bn Manchester project adapts to office demand shift

Valesco buys Accor Paris HQ in record-breaking €460m deal

Patrizia bags €70m portfolio of Nordic social infrastructure

Round Hill ready to pounce as European resi fund closes

Goodman creating one of Germany’s largest PV schemes

Manchester’s One Angel Square on market for £165m

‘Milestone’ consent for £160m Manchester mixed resi project

Encouraging signs for property despite third negative quarter

CBRE IM in deal to develop resi space in new Utrecht district

Price correction heralds return to logistics assets for DWS

Property ‘not out of woods’ warns M&G in new report

European office occupancy is largely back to normal: Colliers

Commerz Real buys out Signa interest in Berlin office tower

Development now part of wider role for P3’s Spencer

Spec phase launched at GLP’s Magna Park in East Mids, UK

Working group offers solutions to help fit SFDR to real estate

Nordic logistics targeted in Panattoni and Cromwell deals

56% of global corporates pick hybrid office policy: KF/Cresa

Redevco acquires Life Europe and launches residential arm

Axa IM Alts’ deal to gain from growing need for studio space

Tristan fund lends €80m for hotel’s switch to urban campus

NREP pays €420m for Swedish social infrastructure portfolio

Advisory council to boost BL’s science and innovation effort

ICG launches last mile platform with €500m assets in the bag

Sentiment among German lenders finding ‘a stable basis’

Elithis fund buys Le Harvre energy-positive resi tower

Mormon church buys London logistics investment for £74m

German American Realty US resi fund final close at $90m

Oversubscribed Urban Partners fund raises €3.65bn

France and US sales bring URW disposal targets closer

Caution on German offices while economy ‘on slide’: PBB

Frankfurt business school launches property institute

S&P stress test indicates office backed CMBS are resilient

PV power plants move Finnish office investor toward net zero

UK commercial real estate chalks up 7% of UK GVA: BPF

London office refurbs hit high in race to avoid obsolescence

Four Portuguese supermarkets boost Savills IM’s food strategy

European resi deals to resume with consensus on lower prices

UK logistics owner occupiers boost supply by sub letting

Handover to SLC completes Glasgow wharf transformation

New MoU plots Edinburgh’s £2bn west-side resi story

Only London and Paris ahead of Warsaw in office demand

ESG ‘a must’ but logistics tenants may need convincing
Real FDI - May June 2023

New FDI publication featured in the latest Real Asset Insight

Business model changes make for rapid shifts in shed demand

Segro commits £2bn to UK’s West Mids industrial strategy

Logistics sector sees first hints of rise in business confidence

Colliers’ sets up new unit as Poland’s power bill up 350%

P3 buys a let investment in Germany’s deep water port

UK healthcare bed supply falls but demand growth continues

Abrdn’s Slater to succeed Vaughan as Redevco chief

Ingka’s €30m wind stake could meet 1/3 of Finnish power need

Despite 57% dip CEE more resilient than western Europe

Green light for Bloom/Angelo Gordon ultra-urban warehouse

Industrial space demand surge likely due to EV battery boom

Greystar finances Wembley PBSA with £130m LaSalle loan

CBRE IM sells Liverpool’s Royal Albert Dock to joint venture

Empira’s new Cologne resi quarter beats asbestos threat

CapMan Infra invests in data centres in northern Europe

New Nordic alliance to focus resources on urban challenges

Post-covid recovery suits outlets as visits increase

Hague offices have residential future following sale by Garbe

Education sector grabs London space at unprecedented levels

Swedish distillery’s conversion to conserve industrial heritage

€560m portfolio sale brings Vonovia near 2023 sales target

Union buys majority of MRP’s Mix resi project in Amsterdam

New €250m Azora fund to aid firms with carbon cutting skills

Tritax makes first acquisition for its new £500m mandate

Round Hill invests €32m in German senior living facility

BL to develop zero carbon logistics hub in central London

Patrizia picks former DWS chief for CEO as Egger steps aside

Aviva launches new LTAF fund seeded with £1.5bn portfolio

Trianon’s €115m resi sale raises resources and focuses assets

’80s London printworks will be culture venue in BL masterplan

Stoneweg Hospitality spends €83m on Spanish hotel duo

Pain in US office sector could be ‘at least as bad as 08-09’

Orion and 4 More repositioning boosts Wiesbaden retail centre

UK banks back L&G’s suburban BTR platform with £150m loan

Attention continues to focus on Warsaw’s Wola office district

UK logistics demand slips back to near pre-pandemic level: KF

Bouwinvest’s Canadian PRS debut – JV with Woodbourne

SHHA expands coverage opening membership to US

La Francaise buys last-mile logistics asset in NW Spain

Savills IM buys safe-as-houses Swedish resi in €100m deal

Patrizia plans community-friendly London office project

Empira buys second Miami site – aims to exploit lack of US resi

Persistence of remote working threat to Paris & London offices

Berlin resilient despite dip in Q1 demand for German offices

L&G backs Glenbrook BTR in Leeds’s biggest ever funding

Industrials REIT accepts £511m Blackstone acquisition bid

Panattoni secures funding for latest phase of Lublin project

CTP plans to double in size to exploit CEE logistics promise

Kering buys €600m central Paris project to house Gucci

Blackstone holds final close on record $30.4bn property fund

Automating resi rental process could cut manual work by half

La Francaise enters medical market with Paris clinic buy

Focus on interest rates and ESG as lenders revert to core

Happy holiday!

DWS and GIC defend REITs despite pressures on US offices

Tristan fund’s €52m loan from Berlin Hyp includes green slice

Cheyne lends £150m for office upgrade in City of London

Ingka to create mixed-use ‘urban meeting place’ in Paris

Australian pension giant Aware Super buys into UK BTR sector

Ingka buys Dublin distribution centre for Ikea UK & Irish arm

Plans for new Berlin quarter firmed up as concept selected

Second Newport Logistics Fund is targeting €100m

Resi will retain its attraction despite yield increase in 2023

Harrison St JV to fund £302m Birmingham BTR project

Maersk hires CBRE for property drive to smooth supply chains

Accurate data is essential for achieving sustainability goals

AIF Capital adds three German healthcare facilities to portfolio

Garbe plans €76m multi-let logistics scheme near Leipzig

Fund launch and partnership start Coima in social housing

PIC pays Schroders £267m for UK government Croydon space

76% of Europe’s offices may be obsolete as expectations rise

40% rent increases needed to restore German resi’s attraction

Mainz office campus improved and sold to Gold Tree Group

Trei quits Czech and Slovak markets with c€250m sale

New report looks at European bank charging characteristics

CBRE IM sells two Swedish shopping centres to NIAM

Crestbridge improves access to Europe with depositary licence

£52m East Mids buy signals Clarion’s return to UK market

Hines gets ‘disruptive’ with launch of new business unit

Catella fund buys affordable green PRS scheme in Berlin

S Immo sells Berlin portfolio as shifts to higher yield CEE assets

Rural-urban migration driving PRS demand and prices in CEE

Heitman buys Norwegian student housing platform

Eurazeo sustainable infra fund hits €420m and spreads reach

MIPIM: FDI expanding scope to encompass more real assets

Aggregate sells Portuguese unit to focus on Germany

Hines-Acciona Spanish BTR scheme a ‘cornerstone’ project

MIPIM: Cut carbon now using existing solutions says report

ULI: Landlords may need to ‘act soon to preserve rental income’

Research: London & Paris top digitally visible European cities

Northern Horizon buys Danish aged care home portfolio

Life science and innovation heading for Canada Water

Europe can expect improving growth but risks remain: C&W

BentallGreenOak/Mission St JV targets science space shortage

Gerald Eve joins BH2 and HDH in US firm Newmark’s stable

Greenman fund acquires three Edeka stores in sale/leaseback

Mark obtains £381m financing for two London developments

Germany faces shortage of life science and tech space by 2025

ECE to convert Rome office space into €60m luxury hotel

La Francaise buys healthcare centre in Paris suburb St Ouen

Real Asset Media adds foreign direct investment to its brief

Manchester pension equity aids Heimstaden buy back

Apleona raises annual sales to €3.5 bn with Gegenbauer deal

Berlin maintains appeal for rented residential investors

Survey finds UK firms unaware of imminent energy measures

P3 expands Dutch portfolio with Amstelveen acquisition

Poland’s PRS only 1% of rental market even after 40% growth

Niam is to push ahead with Helsinki’s tallest office tower

NatWest backs Macquarie BTR unit’s Edinburgh community

Juli Living uses Spaceflow app to ‘elevate tenant experience’

P3’s Panattoni deal is fifth Sth Poland purchase in 12 months

Glenbrook gets green light for 600+ unit BTR project in Leeds

Germany’s office space and investment markets diverging

Cheyne backs €62m revamp of classic 5-star hotel in Helsinki

M&G European ‘living’ fund acquires Dublin PRS project

Housing fund draws more UK local council pension schemes

Sale & leaseback deal brings LIP an ESG-friendly asset

London office demand persists despite challenges: BNPPRE

Swedish Pandox pays Aprirose £53m for central Leeds hotel

Irish care sector jumps hurdles to post record 2022 volumes

Oxford boosts life science arm with $125m Boston acquisition

Amundi aims for €600m with second senior mortgage fund

‘Cautious optimism’ the mood at Iberian listed RE conference

Cheyne backs development of key OPDC site in west London

Green light for Panattoni UK’s South Yorkshire logistics giant

Occupiers embrace European offices – leasing up 15%: C&W

Asset management and ESG central to new strategy: PGIM

M7 loan aids UK south coast shopping centre acquisition

Accolade completes A-class shed space in Poland’s north

Values’ public sector fund buys the former RTL HQ in Cologne

Verdion set for further spec phase at Hannover Expo site

Investcorp boosts UK logistics portfolio with Eurocentral buy

Hines strengthens France offer with management unit launch

Aviva and Packaged Living plan BTR in UK’s Ipswich

Aedifica’s Hoivatilat lines up more care facilities in Finland

Puma backs new sustainable construction research centre

Funds chip in bringing Nuveen strategy over half way to target

CBRE IM acquires two Danish logistics assets and expands JV

Savills Germany: Monthly volume hits a 10-year low

HIH acquires future proofed pre-let Dutch logistics project

GIC and BA pension fund join London life science project

Eagle-eyed Tikehau spots Paris hotel repositioning opportunity

Credit Suisse and Trinity JV buys 1,000-room Florida hotel

First deals done in Immo’s bid to build £1bn UK resi portfolio

Dutch pension fund to invest €170m in housing fund

Axa grows APAC resi stake with €420m Japan portfolio deal

Europe’s logistics rents still defy economic headwinds

Trei sells entire Portugal retail holding to narrow its focus

€58m 1Box loan raises Tristan’s TIPS’ exposure to self-storage

Debt funding gap widens as ‘disruptive’ rate hikes take hold

Boreal/Cadillac logistics JV expands into France and Spain

Hong Kong buyer is set to pay Landsec £349.5m for City asset

Round Hill Capital secures Danish 324-unit resi portfolio

Log In logistics vehicle buys trio of Spanish and German assets

EU sustainability regs are poor fit for property assets: INREV

Spanish REIT Colonial sells off three Madrid offices for €300m

Samsung to exploit repricing with €375m AEW mandate

Investors reassess property returns as volumes dive: MSCI

Study reveals Europe’s growing potential for non-bank debt

pbb refinances Boreal-Cadillac JV logistics assets with €240m

Primonial CEO Juergen Fenk resigns – Fléchet takes reins

KGAL-Pfalzsolar JV to grab share of Greek solar boom

M7 sells Lisbon development after asset strategy completed

ESG beckons as Becken plans revamp of new Munich asset

Care Property Invest share offer raises €111m enabling growth

Investment in UK’s PBSA sector exceeds £7bn in 2022

Return to core as investors cut property allocations: INREV

Green light for Axa’s Madrid affordable housing project

Saarbrücken assisted living buy broadens spread for AIF fund

New Savills IM strategy steps up European logistics focus