Business Immo, the real estate website
Office

Tristan, Investa pay €147m for eight German offices from Frankfurt's Cording

London's Tristan Capital Partners, together with Germany's Investa Real Estate, has paid €147m for a portfolio of eight German office buildings from Frankfurt's Cording Real (...)

Logistics

AXA IM-RA acquires 275,000 sqm European logistics portfolio from AEW

Paris-based manager AXA IM-RA has completed the acquisition of a pan-European logistics portfolio of some 275,000 sqm from counterpart AEW on behalf of one (...)

Finance

Sweden's Sagax invests €45m in French BMG's convertible bonds

Swedish listed property firm Sagax has invested €45.3m in convertible bonds in the private French family real estate company BMG which invests in provincial industrial and (...)

Retail

Germany's Union, Italy's Generali acquire Zaragoza Puerto Venecia for €475m

Germany's Union Investment and Italy's Generali Real Estate are paying €475m in a 50/50 joint venture to acquire the Puerto Venecia shopping resort in Zaragoza, Spain. The (...)

Housing

Greater Paris existing home sales slip 3% to 43,560 in August-October

Sales of existing housing stock in the Greater Paris region slipped by 3%yy in the three months to October to 43,560, but remain at (...)

Office

Covéa leases entire 38 av. Kléber in Paris as new HSBC France HQ

France's Covéa Immobilier has finalised the lease of the entire 38 avenue Kléber in Paris' 16th quarter to HSBC France, which will set up its head (...)

Listed

Spain's Bankinter, Portugal's Sonae launch REIT/SIGI, mirroring Spanish success

Spain's Bankinter and Portugal-headquartered Sonae Sierra are to launch one of Portugal's first REIT/SIGIs, mirroring their cooperation with a similar vehicle in Spain in recent years. "Extending (...)

Office

Patrizia pays €190m for Brussels package including iconic Louise Tower

German listed investment manager Patrizia has paid €190m to acquire the iconic Louise Tower in Brussels as part of a 65,000 sqm portfolio of (...)

Finance

France's Palladio, Fabrique de la Cité, Inst. Montaigne launch new urban forum

France's Palladio Foundation, together with La Fabrique de la Cité and Institut Montaigne, are launching the University of the City of Tomorrow forum, with (...)

Office

Warsaw 2019 office investment to hit record €3.6bn as take-up booms

Warsaw's office market is likely to hit a record €3.6bn of investment this year as take-up booms, reaching levels that outstrip even developed European (...)

Health / Senior

Icade's healthcare unit completes €315m acquisitions in France, Germany, Italy

The healthcare unit of French REIT/SIIC Icade has completed acquisitions in its home market, and in Germany and Italy worth a total €315m to (...)

Office

Romania-based Globalworth adds Polish Kraków office complex for €134m

Romania-headquartered Globalworth has added a further asset in Poland, the Podium Park office complex in Kraków for which it will pay a maximum €134m, (...)

Finance

French Primonial reorganises capital to boost internationalisation, expansion

French investment manager Primonial, one of the nation's biggest real estate investors, has reorganised its capital to accelerate internationalisation and the expansion of its product range.  Long-time shareholders Bridgepoint (...)

Retail

Tristan's Amsterdam retail sales takes Dutch 2019 disposals over €120m

London-based Tristan Capital has sold two convenience shopping centres in Amsterdam to domestic institution Altera Vastgoed, taking total Dutch disposals this year to just over (...)

Office

Stockholm's Genesta sells prime office in central Copenhagen for €190m

Stockholm private real estate investment manager Genesta has sold a prime office property in central Copenhagen for DKK1.42bn (€190m) to Swedish listed Klövern. The asset, located at Kalvebod Brygge (...)

Housing

German listed Corestate, US Bain agree €500m Polish student housing partnership

German listed Corestate Capital has agreed a €500m financing and coinvestment partnership in Polish Micro-Living with Bain Capital aimed at converting properties into student housing. Bain Capital (...)

Housing

Elements in place for German home price rises to continue in 2020 - Europace

Further German house price increases are likely in 2020 since all elements boosting values remain in place, according to home price index provider and (...)

Office

German Union Investment adds 4th Helsinki asset for €148m

German Union Investment has extended its portfolio in Finland, adding an 8,300 sqm retail and office property in Helsinki city centre, its 4th asset in (...)

Finance

Cushman & Wakefield to acquire France's Réponse to complement business lines

Adviser Cushman & Wakefield's is to acquire Réponse, one of France's leading design & build firms, aiming to combine integrated design and building services in (...)

Listed

Aroundtown, TLG launch second giant merger in German listed real estate in days

Days after launch of a giant three-way merger in German listed property, another has started: Aroundtown has won clearance to tender for counterpart TLG (...)

Finance

German Proptech Architrave names Smallwood as COO, board member

The German PropTech group Architrave has appointed English national Ashley Smallwood as new Chief Operating Officer, and member of the Executive Board. Before joining Architrave, Smallwood was (...)

Housing

France's Réalités enters talks with Cap'Études operator of student residences

France's Réalités Group has entered exclusive negotiations with the shareholder and founding partner of Cap'Études, an operator of student residences, with the intention to (...)

Logistics

Germany's Union applies to acquire €800m logistics fund from Garbe

Germany's Union Investment has applied for clearance to acquire Logistrial Real Estate, an €800m logistics fund currently owned and managed by Hamburg's Garbe group. A note in (...)

Finance

AXA IMRA appoints Lavergne as Global AM head, Rauly at head of fund mgt

Paris-based AXA IMRA has appointed Laurent Lavergne as Global Head of Asset Management & Development, naming Timothé Rauly as sole Head of Fund Management. The changes result largely from the (...)

Office

N A S Invest adds first German project, 99 West in Frankfurt, for €265m

Investment manager N A S Invest has acquired its first development project in Germany, 99 West in Frankfurt from BNP Paribas Real Estate Property (...)

Housing

2020 Spanish house prices to rise most strongly outside major city centres

Residential prices in Spain should rise moderately during 2020, with those in major city centres gaining no more than 2% and increases elsewhere stronger, (...)

Health / Senior

European healthcare real estate seen especially attractive for mid/late cycle

European healthcare real estate investment was second strongest in alternative property last year, up 40%yy to €7.7bn, and its fundamentals make it especially attractive, (...)

Logistics

European ports grow in logistics importance as China expands New Silk Road

The expansion of the China-backed New Silk Road Initiative means European port locations offer interesting investment opportunities in logistics real estate, says a new (...)

Office

BlackRock makes first French investment with EFV - Tour Voltaire in La Défense

US wealth management giant BlackRock has made its first investment in France from its Europe Property Fund V raised in summer - the 36,000 (...)

Office

LBO France adds 16,800 sqm Paris Saint-Denis Grande Angle office block

French private equity group LBO France has acquired the 16,800 sqm five-storey Grande Angle corner office block in Paris Saint-Denis from UK manager Tristan Capital (...)

Housing

France's in'li launches developer aiming at 80,000 housing units in 10 years

In'li, the French intermediate housing subsidiary of the Action Logement group, is launching a development firm to meet its ambition to produce 80,000 housing (...)

Logistics

French BNP Paribas REIM adds €85m assets for Eurozone Logistics Fund

French manager BNP Paribas REIM, acting on behalf of its Eurozone Logistics Fund, has closed two additional grade A logistics transactions in France and (...)

Office

US PGIM, after selling Berlin portfolio in JV, adds office tower project Stream

Just a week after selling a Berlin office package in a JV, US manager PGIM has added to holdings there, acquiring the office tower project Stream (...)

Listed

Engwall's Nyfosa adds another €400m in Swedish office, logistics portfolio

Jens Engwall's latest Swedish company Nyfosa, founded just over a year ago, is adding assets fast, signing on a SEK4.17bn (€400m) portfolio of 79 properties, part financed (...)

Housing

Catella adds €120m residential assets in German, Dutch, Danish deals

The Swedish Catella group has made six acquisitions for its main housing fund, Catella Wohnen Europa, for some €120m, taking its assets under management (...)

Finance

France's major commercial property fair Simi attracts 26,000 despite strike wave

France's major commercial property trade fair Simi attracted welcomed nearly 26,000 visitors last week in Paris despite disruptions linked to strike activity. Organisers said that the (...)

Hospitality

Paris-based Accor sells Polish Orbis hotels to AccorInvest for €1bn

Paris-based global hotel operating giant Accor has completed the sale of the Polish group Orbis to its AccorInvest associate for €1.06bn, retaining only the (...)

Listed

France's Foncière Atland closes oversubscribed €42m capital increase

French REIT/SIIC Foncière Atland has closed a €41.6m capital increase, aiming to deploy proceeds to develop the business and finance several construction projects. The gross proceeds of (...)

Hospitality

US Hilton signs first French Tapestry Collection franchise hotel in Paris

The US-based Hilton hotel group has signed a franchise agreement with Dokhan Luxury Hotels to open its first Tapestry Collection hotel, the 46-room Le Belgrand Hôtel Paris Champs-Élysées.  Located (...)

Finance

Transition in German Union Investment management as Kutscher hands over to Stobbe

After more than 20 years in the management team at Union Investment Real Estate, including the last 12 as chairman, Dr. Reinhard Kutscher is (...)

Listed

Covivio's Beaudemoulin named new CEO of Germany's ADO Properties

The complex merger transaction between ADO Properties and Adler Real Estate has brought deep changes in the boards of ADO, with Covivio executive Thierry Beaudemoulin named new CEO. Five (...)

Listed

Merger of Germany's ADO, Adler, Consus said transformational for participants

The merger of Germany's ADO Properties and Adler Real Estate, including control of Consus Real Estate, will be transformational, with a compelling growth profile, the companies (...)

Finance

AEW wins €150m French core mandate from Germany's RVK pension

Paris and London-based AEW has won a new €150m separate account mandate from German public pension fund RVK for a core strategy focused on French office (...)

Housing

Commerz Real adds Frankfurt student residence eyeing €227m redevelopment

Commerz Real is adding a student residence to its portfolio from the Frankfurt School of Finance and Management, with plans to redevelop the site (...)

Listed

German ADO, Adler merger includes Consus to create €8.6bn residential listed giant

Germany is to get a new listed housing giant after Berlin's ADO Properties launched an agreed €708m bid for Adler Real Estate, also including Consus, to (...)

Office

UK's Cain, Germany's Freo add two more Spanish offices

The UK-based Cain International, just a week after purchasing a 26-asset Spanish office portfolio in a JV with Germany's Freo Group, has added two (...)

Housing

France calls for 25yr maximum maturities for banks' home mortgages

France's High Financial Stability Committee has called for banks to limit their residential home mortgage issuance to a maximum maturity of 25 Years. Including the (...)

Logistics

Singapore's GIC, in one of Europe's largest logistics deals, pays €950m for Maximus portfolio

In one of the largest European logistics property deals of the year, Singapore sovereign fund GIC is purchasing the Maximus portfolio from US manager Apollo for (...)

Logistics

Singapore's Keppel DC REIT pays €82m for 2nd data centre in Germany

Singapore's Keppel DC REIT is acquiring a purpose-built data centre in Kelsterbach near Frankfurt for €81.8m, its second facility in Germany and eighth in Europe. Vendor is local developer Maena KG, (...)

Finance

Germany, at €77bn, to top European real estate investment for first time

The 10-year-long positive development in German real estate investment will take it to €77bn in volume in 2019, replacing UK for the first time (...)

Office

Amundi, Crédit Agricole acquire 38-asset mixed portfolio on Lyon Presqu'île

Live from Simi (Paris) - Amundi Immobilier and Crédit Agricole Centre-Est have acquired a mixed portfolio of 38 real estate assets located on Lyon's Presqu'île for (...)

Health / Senior

France's Korian adds 42% of Italy's Over to develop elderly residences

France's Korian nursing homes group, present in Italy since 2007, is acquiring a 42% stake in that nation's Over to develop a residential out-of-home offering for (...)

Office

Paris record office production contrasts with London declines - Deloitte Crane Survey

Live from Simi (Paris) - After three years of stability in Greater Paris office production, this rose 13%yy to a record 2,275,000 sqm in (...)

Office

New Korean name in Europe, Eugene, acquires Warsaw's FENIKS office building

A new Korean name has become active in European real estate: Eugene Investment & Securities, which has acquired the FENIKS office building in Warsaw from Germany's (...)

Listed

Germany's Demire adds two assets for €118m, taking portfolio to €1.5bn

German listed property group Demire has expanded its portfolio to about €1.5bn by adding two properties for €118m - the Roomers hotel in Frankfurt and a (...)

Office

France's Groupama sells Paris 9th arrond. Soco building to UK's Aviva

Live from Simi (Paris) - France's Groupama Immobilier has signed with UK-based Aviva Investors to sell the 5,500 sqm SoCo building in the 9th quarter of (...)

Finance

Real Capital Analytics property data group acquires Sweden's Datscha

In one of the largest European PropTech transactions of 2019, US-based property data provider Real Capital Analytics has acquired Swedish real estate technology firm Datscha. The transaction combines Datscha’s technological (...)

Retail

French ImocomPartners add Paris suburb retail park for €28m

Live from Simi (Paris) - French retail park specialist ImocomPartners is acquiring from Klépierre an 18,500 sqm retail park in Pontault-Combault for a total of €28m.  Thanks to this (...)

Listed

French REIT Atland boosts investments 60% to €800m in 2019

Live from Simi (Paris) - French REIT/SIIC Foncière Atland and its subsidiaries have invested some €800m in 2019, a 60% increase in one year, the company (...)

Office

Icawood makes first investment, in low-carbon project in Paris

Icawood, the investment fund created in 2019 by France's Icamap and Canada's Ivanhoe Cambridge, has made its first investment - in a 31,500 sqm low-carbon project (...)

Office

BNP Paribas REIM acquires Square d’Orléans, 51-53 Blvd Haussmann in Paris

Live from Simi (Paris) - BNP Paribas REIM has announced the acquisition of two standing assets in Paris: Square d’Orléans, located at 80 rue Taitbout, (...)

Finance

France's iread adds datasiic.com REIT/SIICs tracker website

Live from Simi (Paris) - French real estate data provider iread, a sister company of Business Immo, has acquired the datasiic.com website, a tracking service (...)

Office

Allianz pays €416m for two joint venture Paris office developments

Germany-based Allianz Real Estate has acquired two manage-to-core office developments in Saint-Ouen, Paris, with a total value of €415.6m on behalf of several group (...)

Hospitality

Innovative hotel styles, combining co-working, grows in popularity in Europe

Innovative styles of hotels are growing in popularity in Europe, with customers expecting accommodation plus co-working and other services linked by digital platforms, says (...)

Office

Blackstone sells Spanish offices to French Tikehau, Singapore's IREIT for €130m

Giant US wealth manager Blackstone has sold four Spanish office assets to French private group Tikehau plus the Singapore-based IREIT Global for a reported €130.5m. The US (...)

Housing

French Gecina to spin off €3bn residential to allow unit to open capital

Giant French REIT/SIIC Gecina is to spin off of its 6,000-unit residential portfolio worth €3bn to allow, at the appropriate moment, this subsidiary to (...)

Listed

German Vonovia wins 95% of Sweden's Hembla, to extend bid to 8 January

German housing giant Vonovia is to make a last extension to 8 January of its takeover offer for Sweden's Hemblaafter the latest expired with 95.3% of shareholders (...)

Logistics

Dubai's Rasmala sells German logistics assets for $155m

Dubai-based Rasmala Investment Bank has disposed of two Amazon logistics assets in Dortmund, Germany for $155m, saying it generated a return of 30% over two (...)

Office

Foncia Property Managment changes name to Esset

Foncia Institutional Property Management, a unit of France's Foncia Group, has changed its name to Esset Property Management as it moves into new headquarters in the CB16 tower (...)

Office

Germany's Deka adds office, commercial building 23 Opéra in Paris

Deka Immobilien, part of Germany's savings bank group, has acquired the office and commercial building 23 Opéra in the Paris central business district.  The seller (...)

Hospitality

Spain's Azora files fund aimed to target €1.3bn at S. Europe resort hotels

Spanish property investment manager Azora has filed its private equity fund with regulators, which targets investing around €1.3bn in resort hotels in southern Europe.  Called (...)

Finance

France's Acofi Gestion prepares 6th generation of real estate debt funds

French real asset debt fund manager Acofi Gestion is preparing a sixth generation of real estate debt funds for next spring following issuance of €1.3bn in (...)

Office

For third year running, French cities' attractiveness barometer topped by Lyon

For the third consecutive year, the French city of Lyon is at the top of the barometer of the attractiveness and dynamism of French (...)

Retail

Paris shopping centre attendance hit by strike wave

Parisian shopping centres have taken a 6% hit in attendance due to the national strikes that began on 5 December, according to the National (...)

Finance

Amsterdam's Y-Towers project set to start with €460m Union Investment financing

After a delay of nearly 18 months, construction is due to start in January on Y-Towers, one of Amsterdam’s most spectacular projects, in which (...)

Finance

Emerging Trends in Real Estate Europe: Paris is Europe’s most attractive city

Investments in real estate are expected to remain attractive in 2020, according to the 17th edition of Emerging Trends in Real Estate Europe, the (...)

Office

Belgian Cofinimmo signs to sell AXA building in Brussels for €50m

Belgian REIT/RREC Cofinimmo has signed to sell the Souverain/Vorst 23/25 office building in Brussels, widely known as the AXA building, for €50m.  The company gave no (...)

Housing

Dutch 2019 rental home sales rise 7.5% to €9.3bn, foreign interest strong

A record €9.3bn in Dutch rental homes were sold this year, up 7.5% against 2018, with interest from both domestic and international investors holding (...)

Logistics

Belgian AG Real Estate says French logistics sale done for €200m

Belgium's AG Real Estate said the sale of a large package of logistics properties in France to Allianz Real Estate and AEW was done (...)

Logistics

Allianz RE expands footprint in France to take total portfolio exposure to €6.6bn

Allianz Real Estate has expanded its logistics footprint in France, adding a core portfolio from Belgium's AG Real Estate alongside AEW, and taking its (...)

Office

Warsaw Financial Center sold to CEE investor CPI by Tristan fund, Allianz RE

A joint venture between a fund advised by Tristan Capital, and Allianz Real Estate, has sold the prestigious Warsaw Financial Center to CPI, a (...)

Logistics

Germany's Patrizia buys €1.2bn European logistics package from BentallGreenOak

German listed investment manager Patrizia has acquired a vast 42-unit pan-European portfolio of 42 logistics assets from BentallGreenOak, paying some €1.2bn for the package. The assets will be placed in (...)

Office

HIH acquires property management mandate from Commerz Real

Germany's HIH Property Management has won the contract for the eight commercial properties just acquired by Commerz Real in Berlin, Hamburg and Leipzig for (...)

Office

Germany's Union trims France to €2.8bn with Paris CityZen office sale

Germany's Union Investment has sold the 38,000 sqm CityZen office complex in the sub-market of Bois-Colombes, north-west of Paris, trimming French holdings to a value of €2.8bn. The (...)

Retail

Ireland's Greenman adds €112m Kaufland German food-anchored retail

Ireland's Greenman Investments, which is German food-anchored retail-focused, has added a €112m portfolio of Kaufland anchored retail centres in the nation. The five assets are (...)

Finance

M&G halts trading in £2.5bn London property fund

M&G on Wednesday halted trading in its £2.5bn London property fund after fears over Brexit and a retail downturn prompted investors to rush to withdraw (...)

Hospitality

France's iconic Club Med to expand mountain sites, offering €450m an. revenue

France's iconic vacation group Club Med is to continue development of global mountain locations, adding three by end-2020 to the current 20, representing over (...)

Office

Swiss IWG, formerly Regus, boosts French presence in Bordeaux centre

The Swiss IWG group, encompassing its original flexible office arm Regus, is boosting its presence in the French city of Bordeaux, aiming to place all four (...)

Housing

Stiffened Berlin rental rules may hit home prices via mortgage limits

Stiffened Berlin rental cap rules may hit home prices if mortgage banks are obliged to mark down values originally used in the issuance of (...)

Housing

Corestate adds first Spain property for JOYN biz apartment brand, eyes 10

Corestate Capital Holdings, listed in Luxembourg, has acquired the first Spanish property for its JOYN brand business apartments in Madrid, and aims to have 10 operational (...)

Health / Senior

Germany, France said Europe's most attractive for healthcare RE investment

Germany and France are Europe's most attractive countries for healthcare property investment, says Luxembourg's AviaRent Invest, which runs a sector fund with France's Primonial. A report, (...)

Listed

Frankfurt's DIC signs €500m Cologne Stadthaus club deal buy from Korea's Mirae

Frankfurt listed DIC Asset has signed to lead a €500m club deal early next year to acquire the Stadthaus building in Cologne from Korea's Mirae Asset Global Investments. The (...)

Finance

Both buyer and seller in Spanish deal show property cycle far from finished

Cain International’s acquisition of a €225m Spanish office portfolio from Merlin Properties this week shows, quite separate from the deal itself, just how deep (...)

Office

Spain's largest REIT Merlin sells 26-unit office package for €225m

Spain's largest REIT/SOCIMI Merlin Properties has agreed with US-based Cain International and Germany's Freo to sell a 26-unit office portfolio for €225m. The deal represents a (...)

Housing

Top floor penthouse on Cannes' Croisette sells for €70,000 per sqm

The Finamas group, controlled by the Masliah family and specialising in luxury residential, has sold a top floor penthouse on the Croisette in Cannes for €70,000 per sqm. The (...)

Retail

Commerz Real acquires 20% stake in 10 German Kaufhof stores

Commerz Real, part of Germany's Commerzbank, has taken a 20% stake in 10 Kaufhof department stores, intending to develop them and boost value together (...)

Office

Gecina to sell Montrouge Park Azur complex to La Française for €185m

Gecina, one of France's largest REIT/SIICs, has signed a €185m agreement to sell the Park Azur building in the southern Paris suburb of Montrouge (...)

Office

Spanish Zara founder Ortega said eyeing €703m buy of London's Post Building

In a new sign of confidence in the UK capital, Pontegadea, the investment vehicle of Spanish Zara founder Amancio Ortega is about to pay (...)

Logistics

Europa Capital's core European vehicle adds five Dutch logistics

London-based Europa Capital is buying a portfolio of five logistics properties in the Netherlands from vendor Altera Vastgoed. It gave no financial details of the (...)

Finance

Swedish East Capital RE's fund restarts dividend after completing €200m investments

Latvia-based East Capital’s third real estate fund is to pay a special dividend as it starts to make regular income distributions since completing its (...)

Finance

Philippe Le Trung joins iread as senior advisor

Philippe Le Trung has joined iread as a senior advisor, responsible for developing Europe-wide expertise in the listed real estate sector. Philippe Le Trung, aged (...)

Office

L'Oréal's ambitious roadmap for 40m sqm of properties in 70 countries

Three years after joining France's global beauty products group L'Oréal, Frédéric Ciuntu has structured his real estate division as a property firm to ensure professional management (...)

Office

US WeWork to open fifth Paris co-working space in Gecina building

US co-working giant WeWork will on 12 December officially open its fifth Paris location at 198 avenue de France in the 13th quarter, especially utilising the larger floor (...)

Office

"Prime yields on offices in Paris CBD have reached a floor"

Live from Simi (Paris) –Prime yields on Paris central business district office investments have reached a floor, say Carine Dassé, vice-president of MSCI Real (...)