Business Immo, the real estate website

Tanya Barnes

Managing Director

Kenneth Caplan

Senior Managing Director - Global Co-Head of Real Estate

Jonathan Gray

President - Chief Operating Officer

Tyler Henritze

Senior Managing Director

Tony James

Executive Vice Chairman

Andrew Lax

Managing Director

Kathleen Mccarthy

Global Co-Head of Real Estate

Stephen Schwarzman

Chairman, CEO and Co-Founder

Byron Wien

Vice Chairman - Private Wealth Solutions Group

Hospitality

ActivumSG appoints Spanish hotels’ head to grow €500m portfolio

Jersey-based ActivumSG has named Luis Miguel Martín as MD charged with growing its Spanish hotel portfolio beyond its five initial investments valued at around €500m. ASG funds (...)

Finance

LaSalle IM makes €200m mezz loans to Blackstone for Euro logistics portfolios

LaSalle IM is providing three mezzanine loans of over €200m to Blackstone funds to refinance three portfolios of logistics assets Germany, the Netherlands, France and Denmark. The (...)

Logistics

Germany's Patrizia completes €260m French logistics portfolio sale to Blackstone

German listed investment manager Patrizia has completed the sale of a French logistics portfolio to US manager Blackstone for a total price of €260m in an (...)

Office

Blackstone said paying €100m for Barcelona’s Tarragona Tower

US fund Blackstone is reported to have paid around €100m to acquire the 18,000 sqm Tarragona Tower office skyscraper in Spain's Barcelona from UBS Asset Management. Blackstone (...)

Logistics

Blackstone launches European last-mile logistics property firm Mileway

US investment giant Blackstone has launched a pan-European last-mile logistics property firm, Mileway combining some 1,000 assets, 9m sqm of space already acquired by its funds. The portfolio, predominantly (...)

Hospitality

Blackstone enters Greek hospitality, acquiring five hotels for €179m

US giant Blackstone is entering Greek hospitality with the acquisition of five hotels on the Greek Islands from Cyprus-based Louis Group for an enterprise value of (...)

Listed

Germany's Vonovia pays €1.14bn for majority in Sweden's Hembla, intends takeover

Germany's giant residential group Vonovia is acquiring a majority stake in Swedish housing firm Hembla from Blackstone for SEK12.23bn (€1.14bn), its second takeover in the nation. In a move that comes (...)

Listed

Recent M&A activity seen unlikely to signal a wave of take-private deals

Despite European listed real estate trading predominantly at discounts to NAV, recent renewed M&A activity is unlikely to signal a wave of take-private deals, analysts say. They (...)

Office

Korean-led group said near €990m purchase of The Squaire at Frankfurt Airport

The Squaire, the 140,000 sqm office and retail complex at Frankfurt Airport, is close to being sold to a Korean-led consortium for around €990m, according to South (...)

Listed

Euro M&A surges as Blackstone pays €4.2bn for Canada's Germany-focused Dream Global

In a major surge in European real estate M&A, US-based Blackstone is acquiring the Germany-focused Canadian REIT Dream Global for C$6.2bn (€4.2bn) in a recommended takeover. In (...)

Hospitality

Spain's Azora, Palladium form 75/25 resort hotel JV, eyeing €500m investments

Madrid investment manager Azora is partnering with Palladium Hotels in a €500m JV in Mediterranean resort hotels, starting with €115m purchase of three assets, plus €110m (...)

Logistics

US-based retail specialist Thor Equities launches logistics division with ThorLogis

US investment firm Thor Equities, traditionally focused solely on retail real estate, is launching ThorLogis, a division specialising in the logistics sector. In a statement it said that (...)

Housing

Berlin tops 2018 resi investment at €3.11bn, then Copenhagen, Paris, London - JLL

German capital Berlin attracted most multifamily investment last year, at €3.11bn, says JLL's European Multifamily Investment Report - followed by Copenhagen, Paris and London. The third annual (...)

Office

Paris's Lumière office complex said bought by Primonial, Korea's Samsung for €1.2bn

Likely to be France's deal of the year, Paris's largest office complex, Lumière, has been acquired by fund manager Primonial and Korea's Samsung SRA for around €1.2bn. According (...)

Logistics

At €480m, Blackstone, Prologis said leading bid for Colonial's Spanish logistics

US firms Blackstone and Prologis are reportedly leading the bid for the Spanish logistics portfolio being sold by listed group Colonial, with bids running as high (...)

Finance

Eastdil splits from Wells Fargo in MBO backed by Singapore's Temasek, Guggenheim

New York-headquartered Eastdil Secured, adviser on some of the largest global real estate deals, is splitting from lender Wells Fargo in an MBO backed by Singapore's Temasek and US based-Guggenheim. The (...)

Logistics

Blackstone said planning new firm for €6bn European logistics

Two years after Blackstone sold logistics firm Logicor for €12bn, the US wealth manager is reportedly planning to pool €6bn smaller or last-mile European properties into a new (...)

Finance

2018 global property AUM up 12% to €2.8tr; Blackstone first to exceed €200bn

Global real estate assets under management last year rose by 12% to €2.8tr, with Blackstone becoming the first manager to exceed €200bn, say non-listed groups INREV, ANREV and NCREIF. The (...)

Hospitality

Ten mths after selling Hispania, Spain's Azora re-enters resort hotels

Ten months after selling its Hispania resort hotel REIT/SOCIMI to Blackstone, Spanish real estate investment manager Azora is back in the hotel business. The Madrid-based group said Thursday (...)

Finance

CBRE GI wins €350m refinancing for Dutch Office Fund from PGIM, UK's Rothesay

CBRE Global Investors has completed a €350m refinancing for its Dutch Office Fund, provided jointly by US-based PGIM Real Estate and UK insurer Rothesay Life. The loan is secured (...)

Office

Blackstone eyes €220m selling Spanish REIT office assets separately

US fund giant Blackstone is to sell all five office assets in its Spanish REIT/SOCIMI Corona, reportedly aiming to generate €220m through individual disposals. Local Spanish media say (...)

Logistics

McCarthy's Arrow Capital enters Spain with €200m 'last-mile' target

Arrow Capital Partners, founded by former Valad CEO Martyn McCarthy, is entering Spain and initially targeting €200m investment in last-mile logistics as well as office assets. The (...)

Logistics

US Clarion takes majority stake in logistics S-L specialist Gramercy Europe

US-based Clarion Partners has taken a majority stake in industrial real estate sale-leaseback specialist Gramercy Europe, which only six months ago was MBO'd from its former parent. Giving no (...)

Housing

Blackstone said preparing wave of Spanish disposals focused on housing

US-based investment giant Blackstone, which holds real estate in Spain worth some €20bn, is reported to be preparing a wave of disposals, including much of its (...)

Finance

No sector for old cowboys

A maturity is entering real estate. Recognition that it is not for old cowboys but a sector where success is tied directly to user well-being. That (...)

Finance

Brookfield to take 62% of Oaktree for $4.7bn, creating $475bn alternatives giant

In a deal worth $4.7bn, Canadian investment manager Brookfield is to take a 62% stake in California’s Oaktree Capital, creating a $475bn alternatives giant highly active (...)

Listed

Paris REIT Cegereal net slides to €33m on valuations, but cash-flow stable

Paris office REIT/SIIC Cegereal posted a sharp drop in net income last year to €33.1m after €62.4m in 2017 mainly due to the high portfolio uplift last year, (...)

Finance

Real estate investors in 2019 face risks from five main sources - MSCI

Real estate investors in 2019 will need to adjust to rapid changes deriving from five main sources: environmental, governance, geopolitical, transparency and tech-related, says index provider (...)

Finance

Spanish yields to hold stable after foreign capital surge in 2018 - CBRE

Spanish property yields should remain stable this year, predicts international adviser CBRE, after foreign capital made up €11.8bn of the record €20bn invested in 2018. "Spain will (...)

Finance

For real estate investors, 2019 may mean adjusting to rapid changes - MSCI

For real estate investors, 2019 may be a year of adjusting to rapid changes from many sources including environmental, social and governance risks, geopolitical uncertainty and (...)

Logistics

KKR, Round Hill said bidding €170m for Spain's El Corte Inglés logistics

US investment funds KKR and Round Hill Capital are reported to be leading the bid, at up to €170m, for a 500,000 sqm logistics portfolio put (...)

Office

Zurich Insurance adds €163m Madrid office from Blackstone/Hispania

Swiss insurer Zurich, in one of its first visible deals in Spain, has paid €163.5m for five office assets in Madrid, part of the package being (...)

Listed

TLG shareholder drops EGM request aimed to change supervisory board

The largest shareholder of Berlin's listed TLG, Ouram Holding, has withdrawn a request for an extraordinary shareholder meeting, aimed to make deep changes to the supervisory board. By (...)

Office

KPMG extends, expands lease at The Squaire at Frankfurt Airport

Global financial and audit group KPMG has extended and expanded its lease at the giant Squaire complex at Frankfurt Airport, laying to rest market rumours that it may (...)

Housing

Spain facing shortage of 2m homes, needs €300bn to finance them - report

Spain will need another 2m homes over the next 15 years to meet accelerating demand and to build them must attract around €300bn in private and (...)

Logistics

Spain's Azora, CBRE said launching €250m last-mile logistics firm

Azora, the Madrid property manager which developed and then sold one of Spain' largest REITs, has launched a firm with CBRE to invest €250m in last-mile (...)

Logistics

Spain's Neinver finalises €300m logistics portfolio sale to Blackstone

In Spain's largest logistics deal this year, Madrid-based outlet specialist Neinver has, for around €300m, completed a previously reported sale to Blackstone of 55 logistics assets.  Comprising (...)

Finance

Allianz's European debt fund passes €1bn deployed, to open to third party investors

Allianz Real Estate’s pan-European debt fund has surpassed €1bn in deployed capital in its first five months, with deals in UK, Italy, Ireland, Spain and Sweden, (...)

Logistics

M7, Starwood agree €486m MStar sale price to Blackstone's Onyx

UK-based M7 Real Estate has reached agreement with JV partner Starwood to sell their light industrial and logistics unit MStar Europe for €486m. The buyer is the firm (...)

Retail

Blackstone said in €290m Spanish mall purchase from Neinver

US wealth management giant Blackstone is reported to be finalising acquisition of 37 logistics centres in Spain for €290m owned by outlet firm Neinver and Colony Capital. The Expansión newspaper said (...)

Logistics

UK's Marcol seeks more French warehouses after €500m sale to Blackstone

London-based private investment firm Marcol is back in buying mode for industrial assets in France after its portfolio sale in July to giant US fund manager (...)

Finance

Spain's Azora moves into alternative financing with first €300m fund

Madrid-based real estate manager Azora has created a partnership with Oquendo Capital to promote closed-end alternative finance funds aimed at projects or firms in Spain and (...)

Housing

Blackstone wins green light in Spain for €1.33bn Testa resi takeover

US investment giant Blackstone has won the green light from the Spanish regulator to take control of listed housing firm Testa, acquiring the stakes of BBVA, (...)

Housing

Blackstone, Caixa, Sabadell are Spain's largest rental housing landlords

As real estate investment capital continues to pour into Spain, US investment giant Blackstone has become the nation's largest residential landlord with 32,000 homes, followed by (...)

Housing

France's CDC, backed by Germany's Vonovia, said winner of SNCF housing at €1.4bn

With a near €1.4bn bid, France's CDC Habitat, backed by two state pension funds and Germany's Vonovia, has won the 4,000-unit housing portfolio sold by rail (...)

Finance

Santander said in €3bn bid for own Madrid HQ; Blackstone stays out

Spain's Banco Santander has bid over €3bn to buy back its own HQ near Madrid in an off-market auction conducted by liquidators of the present owner, (...)

Listed

After delays, Portugal cites January 2019 as start date for REITs

After several delays, Portugal is planning to introduce REIT legislation in January for all real estate asset classes and will finalise details before year end, says a senior (...)

Finance

Blackstone, Centerbridge said in €3bn bid for Santander’s Madrid HQ

In one of the biggest real estate deals this year in Spain, a consortium led by US funds Blackstone and Centerbridge is reportedly offering over €3bn to acquire (...)

Housing

Blackstone takes control of Spain's Testa less than 2mths after flotation

US-based Blackstone has taken control of Spanish listed housing firm Testa less than two months after flotation, buying 50.01% in an offer for Merlin Properties' 17% (...)

Logistics

Blackstone to acquire 49-unit logistics portfolio from Starwood, M7

US investment management giant Blackstone has agreed to acquire a logistics portfolio comprising 49 assets held in the MStar Europe joint venture between US fund Starwood (...)

Office

Schroder adds Frankfurt Pollux office tower for reported €230m

London-based Schroder Real Estate has acquired, on behalf of a joint venture, the 35,000 sqm Pollux office tower near Frankfurt's trade fair ground for a price (...)

Housing

CBRE GIP, Madison invest €870m in 6.5k Spanish resi package

CBRE Global Investment Partners and Madison International Realty are jointly acquiring a 6,458-unit Spanish residential portfolio valued at €870m from Madrid's Azora group, which will retain (...)

Logistics

China reported to order divestment of Logicor stakes

China is reported to have ordered some investors in Blackstone's former European industrial property firm Logicor, saying the stakes violate regulations on overseas holdings. The report, by Bloomberg (...)

Hospitality

Spain's Azora eyes more hotel investments after Hispania sale to Blackstone

Azora, the Madrid-based investment manager that built and then sold Spanish REIT Hispania to Blackstone, aims to invest further in resort hotels but is not yet (...)

Hospitality

Airbnb more threat to rented residential than hotel sector - EPRA panel

Airbnb and other similar internet-based lodging platforms pose no real threat to the hotel industry but more to rented housing in the major cities, the EPRA (...)

Finance

European 1H RE investment slows to €110bn; should pick up in 2H - RCA

European real estate investment slowed 19%yy in the first half to €109.8bn as high prices led institutions to scale back, says New York-based research group Real (...)

Hospitality

Hong Kong-Shanghai's Gaw Capital enters Spanish hotels. Expect fireworks.

Spain, Portugal, Italy, Greece and France. Those are the markets where Hong Kong and Shanghai-based Gaw Capital aims to expand Spain’s Hospes hotels with its new (...)

Listed

Blackstone €2bn bid for Spanish REIT Hispania succeeds at 74%

US investment management giant Blackstone has succeeded in its €2bn bid for Spanish REIT/SOCIMI Hispania, winning acceptances for 74.02% of equity, well over its minimum 50% (...)

Retail

Spain's Merlin expands in Portugal paying €407m for Lisbon Almada mall

Spain's largest REIT/SOCIMI Merlin Properties has paid €406.7m to acquire from Blackstone the Forum Almada mall in Portugal across the Tagus River across from capital Lisbon. The (...)

Logistics

Spain's Lar sells logistics portfolio to Blackstone for €120m, 83% profit

Spanish REIT/SOCIMI Lar Espana has finalised sale of a logistics portfolio to US investment giant Blackstone. Reported by local media in negotiation for over €90m, the final price was (...)

Office

German Real I.S. Hamburg Sumatrakontor buy said at €180m

Munich-based Real I.S., the fund manager of the BayernLB group, paid around €180m to acquire the Sumatrakontor office block in Hamburg’s HafenCity, according to German media. Real I.S. announced (...)

Logistics

Blackstone adds French logistics via Gramercy, one day after buying in Germany

Just one day after adding five logistics properties in Germany, US giant Blackstone is adding seven in France for €175m via Gramercy Europe, part of US REIT Gramercy Property (...)

Logistics

Blackstone confirms purchase of five German logistics assets

US investment management giant Blackstone has confirmed that it was the buyer of a five-asset German logistics portfolio reported by the seller Prologis, totalling 157,645 sqm. A spokesman for the (...)

Listed

Spanish REIT Hispania’s board approves increased Blackstone takeover bid

Spain's hotels-focused REIT/SOCIMI Hispania said its board has approved the takeover bid made by US wealth giant Blackstone after the latter raised its offer to €18.25 per share from €17.45, (...)

Finance

Aided by consolidation, global property fund AUM rises 22% to average €16.7bn

Primarily due to rapid growth of big managers, aided by a trend to consolidation, average assets managed by global property funds last year rose 22% to (...)

Logistics

Blackstone said in final stage of buying €90m logistics assets from Spain's Lar

US investment management giant Blackstone, in the middle of a takeover bid for Spain's Hispania, is finalising acquisition of a Spanish logistics portfolio owned by another REIT/SOCIMI, Lar España, (...)

Listed

Blackstone's Hispania approval moves Spanish tax income offshore - El Confidencial

The Spanish financial regulator CNMV has approved the takeover bid by Blackstone for hotels REIT Hispania. If successful, the firm will be taken private and all profits will move offshore, the (...)

Hospitality

Amid Spain's hotel boom, Blackstone will do what it takes to buy Hispania

With Spanish tourism booming and no fewer than 173 new hotel openings forecast in the next four years, US giant Blackstone will likely do what it takes to (...)

Hospitality

NYSE's Park in €297m Berlin Hilton sale as Blackstone checks out too

NYSE-listed REIT Park Hotels & Resorts has closed the €297m sale of the 601-room Hilton Berlin. The move came as US wealth manager Blackstone also sold its last remaining 5.8% (...)

Listed

German Patrizia shares surge after 1Q income rises fourfold

Shares in German listed real estate group Patrizia surged by over 11% on Thursday following news that its first quarter operating income quadrupled to nearly €43m from 1Q17. In (...)

Office

Blackstone's Munich Arabella Bogen office buy said at €170m

US wealth management giant Blackstone and Frankfurt-based alternative investment manager Quincap have together acquired the 44,000 sqm Arabella Bogen office building in Munich for a price reported at (...)

Housing

Blackstone adds 2,500 Berlin residential units from local managers

US investment management Blackstone has added 2,500 residential units in central Berlin to its portfolio of over 100,000 units spanning Germany, Spain, Sweden and Denmark. Seller (...)

Listed

Spain's Hispania manager Azora, aiming at €8bn AUM, launches own IPO

Spanish real estate manager Azora Altus, which created and manages the REIT Hispania, is to issue 47m new shares to raise around €500m in its own IPO, valuing (...)

Finance

Euro CRE investment slows sharply in first quarter after record 4Q - RCA

Investment in European commercial real estate slowed sharply in the first three months of 2018 after a record fourth quarter as investors reassessed pricing and prospects, (...)

Listed

Spanish REIT Hispania to seek alternative buyer to Blackstone

Spanish REIT/SOCIMI Hispania said Monday it will to seek an alternative buyer to maximise value, and that a takeover bid by Blackstone subsidiary Alzette earlier this month following an 16.56% (...)

Finance

Japan capital entering euro real estate not for the cycle but the longer term

The entry of GPIF, Japan Post and other giant Tokyo institutions to European property is happening but may take longer if managers reject inital fee demands. Still, (...)

Finance

Spanish Hispania manager Azora announces IPO; €700m reported capital raise

Spain's Azora, the external manager of REIT/SOCIMI Hispania and other real estate firms, confirmed Wednesday that it is planning its own stock market flotation. Reports say it is aiming (...)

Hospitality

Spanish Hispania shares jump 7% on reports of Blackstone hotels bid

Shares in Spanish REIT/SOCIMI Hispania jumped by 7.3% yesterday on media reports that US wealth manager Blackstone plans a takeover bid once it executes plans to sell office holdings, aiming (...)

Finance

With cap rate compression ending, diversified RE portfolios are best - BNPP Wealth Mgt

The significant fall in real estate cap rates in recent years is coming to an end, coupled with the prospect of interest rate rises, and private (...)

Logistics

Logistics is main European investor target amid higher overall allocations - CBRE

Live from MIPIM (Cannes) - Logistics is now the most sought-after property class for European investors, overtaking office for the first time, according to CBRE’s annual EMEA Investor Intentions (...)

Office

German 2017 CRE investment hits record €57bn, 2018 to depend on rates, bonds - JLL

Investment in German commercial property last year hit €56.8 bn, shattering the prior record set in 2015 by €1.7 bn, and up 7% from 2016, says (...)

Logistics

Eight months after Logicor sale, Blackstone eyes 24 Goodman logistic assets

Just eight months after giant US wealth manager Blackstone agreed to sell its Logicor logistics unit for around €12bn to China's CIC, it is back in the market seeking more (...)

Listed

Post-IPO, Singapore's Cromwell European REIT eyes Italy, eschews Poland

With the Australian Cromwell Property Group as its 35.8% sponsor, Cromwell European REIT raised €866m in a second try at a Singapore float last week as (...)

Logistics

European logistics dots that lead to China, Jack Ma mean yields are headed lower

It doesn’t take much to join the dots in logistics real estate. When Alibabafounder Jack Ma sees it as crucial to globalisation and aims for a (...)

Hospitality

Gold in Spanish resort hotels (1): First mover Hispania tracked by Blackstone, Ruggieri

Gold has been discovered in Spanish resort hotels and REIT/SOCIMI Hispania is the first in the ‘rush’. But other fast movers are close behind. They include Blackstone, and France’s (...)