Real Estate

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deVere Mothballs Property Division Citing UK Mortgage Crisis

deVere Group, which has US $12bn under advisement, has announced the temporary closure of its UK property investment division as inflation fears suggest the Bank of England will need to hike interest rates more aggressively to combat rising prices. James Green, deVere Group Investment Director, explains: “We are concerned about the availability of credit and,…

News

Savills IM Acquires Logistics Properties for Pan-European Logistics Fund  

International real estate investment manager Savills Investment Management (Savills IM) has acquired three logistics properties in France for a total €72 million on behalf of its European Logistics Fund 3 (ELF 3). The ELF 3 portfolio now comprises 15 properties in five countries.  In Dijon, an inner-city cross dock facility to serve the last mile…

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F3GROUP Announces New CEO

UK real estate developer F3GROUP has appointed Jon Dixon as its new CEO, with current CEO Gavin Gleave taking up a new role within the company as Executive Chairman. A qualified chartered surveyor, Dixon brings with him a wealth of experience in the real estate investment and development industry across Europe and the Middle East.…

FM Magazine

UK Real Estate Sector Reacts to BoE Interest Rates Rise

FM Magazine sounded out Paresh Raja, CEO of Market Financial Solutions (MFS) and Shojun CEO, Jatin Ondhia, on the 50 basis point hike in interest rates announced today by the Bank of England.  Paresh Raja, CEO, MFS, says: “The property market is being pulled strongly in two different directions. Today’s interest rate hike is significant, impacting…

News

Wells Fargo Strengthens Airport Industrial Property Unit Trust’s Property Programme with Flexible Debt Finance

abrdn plc’s Airport Industrial Property Unit Trust (AIPUT) has secured £350m of new debt financing from Wells Fargo to deliver a transformational investment programme for its prime industrial real estate portfolio in the United Kingdom. The new Facility which consists of a split-term loan and revolving credit facility structure with an initial committed term of…

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CREFC Announces Chair Elect and Changes to Leadership Board

CREFC Europe, a trade association for real estate lenders and the European real estate finance market,  has announced its new Chair Elect at its Annual General Meeting. Nassar Hussain of Brookland, already a member of the CREFC Europe Board, has stepped into the Chair Elect role.  Chris Bennett of DekaBank takes over as Chair from…

News

DRC Savills IM Announces Senior Asia Pacific Appointment

European investment fund manager and real estate debt business DRC Savills Investment Management has appointed Steve Willingham as Head of Asia. Based in Hong Kong, Willingham will report to Dale Lattanzio, managing partner of DRC Savills IM when he officially joins the firm in November. The appointment underlines the investmentr management firm’s commitment to strengthening…

News

Super-prime Chelsea Contractor Goes Into Administration

Alex Cadwallader and Neil Bennett of Leonard Curtis have been appointed as Joint Administrators of renowned prime contractor, Cheevers Poole Limited, which entered into administration on 8th September. The Chelsea-based business – established in 2013 –  has operated in the super-prime property sector, offering a wide range of bespoke solutions for global clients on more…

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Cushman & Wakefield and Greystone Poach Veteran Capital Markets Team from CBRE

Cushman & Wakefield and commercial real estate finance company Greystone Servicing Company LLC have recruited a team led by former CBRE Capital Markets Executive Vice President, Craig Branton, to their multifamily equity, debt and structured financing (EDSF) operation in Denver, Colorado. Branton, who joins Cushman & wakefield as Vice Chairman, brings his extensive background in…

News

Siemens Energy Selects EMCOR to Deliver Multi-country FM Contract

EMCOR Facilities Services, Inc. (EFS), a division of EMCOR Building Services, and EMCOR Group (UK) plc (EMCOR UK) have been awarded a five-year contract with Siemens Energy.The contract spans 49 sites across the United States and Canada in North America and 30 sites across 10 countries in Europe, including 15 sites in the UK. In…

News

Boutique Lender Agrees Loan for Iconic Central London PBSA Acquisition in 11 Days

Alternative property lender Cohort Capital has funded a £70 million facility for the acquisition of Lillian Penson Hall, a 100,000 sq ft purpose-built student accommodation (PBSA) development in the heart of London. The buyer is LPH Paddington Ltd, a company majority owned by Union Property Developments Ltd. The 313-unit, eight storey building on the historic…

News

Wealthcap Tackles Energy Crisis with New MeteoViva Building Sustainability as a Service Model

Leading German real asset and investment manager Wealthcap is using MeteoViva’s predictive building control system to reduce energy use and CO2 emissions in a commercial location at Ganghoferstrasse 27-29 in Munich. To finance the transformation in how it monitors and controls energy usage, Wealthcap is utilising a new Sustainable Buildings as a Service model introduced…

News

Start Living Chooses MRI Residential Property Management Solution

Start Living, a single-family build-to-rent joint venture between TPG Real Estate Partners and Gatehouse Bank PLC, is implementing the MRI Living suite of solutions to drive operational efficiencies for their property management portfolio. Start Living offers two-, three- and four-bedroom homes in areas that provide family-focused amenities such as schools and leisure facilities, typically as…

News

Accelerating the Race to Net Zero

Johnson Controls has announced a collaboration with 3Degrees which helps organisations around the world achieve renewable energy and decarbonisation goals. The new collaboration aims to accelerate building owners’ and operators’ progress toward net zero by leveraging 3Degrees’ large-scale environmental commodity solutions, including Renewable Energy Certificate (REC) transactions, long-term renewable energy procurement, carbon credit portfolio management, transportation…

News

Survey Uncovers Inadequate Succession Planning by Smaller Professional Landlords in the UK

Handelsbanken Wealth and Asset Management is urging professional landlords in the United Kingdom to plan for the future following a survey finding that 52 per cent of owners of small portfolios of four or more properties have no succession planning. The survey findings by the local relationship bank also suggest a worrying lack of succession…

News

EMAAR and Dubai Holding Agree Dubai Creek Harbour Equity Swap

Emaar Properties has announced it will acquire Dubai Holding’s stake in its joint-venture Dubai Creek Harbour development with Dubai Holdings in a cash and shares deal that will make Sheikh Mohammed bin Rashid al-Maktoum’s personal investment portfolio the second largest shareholder in the Emirati developer in a deal worth AED 7.5 billion (USD 2.04 billion).…

News

Leading Multifamily Sales Team Joins Cushman & Wakefield in Seattle

Cushman & Wakefield has welcomed a six-member multifamily brokerage team with over 225 recorded sales across almost 10,000 residential units and transactions exceeding US $1.5 billion to its office in Seattle. The distinguished team which is led by Tim McKay, Sam Wayne, Dan Chhan and Matt Kemper, has negotiated several, significant tansactions during the past…

News

Philadelphia Eagles and The Bellwether District Redevelopment in Multi-Year Deal

The Philadelphia Eagles have announced a multi-year partnership with The Bellwether District, the 1,300-acre sustainable development in Southwest Philly being reinvigorated into an economic engine and welcoming space for all of Philadelphia. Hilco Redevelopment Partners (HRP), the developer behind The Bellwether District, specializes in transforming complex properties across the United States with their uniquely holistic…

News

Real Assets Publication of the Year: Aviva Investors Sustainability Media Awards

Aviva Investors is extending the deadline to enter the Aviva Investors Sustainability Media Awards 2022. The new deadline will be Friday, 12th August 2022. The Awards, which recognises excellence in reporting across sustainability-linked topics in the UK media, aim to celebrate the consistently high standards achieved by publications in the national press, institutional and wholesale…

News

Almost Half of Smaller UK Landlords Planning to Expand Portfolios

According to the latest survey from Handelsbanken, 49 per cent of small and mid-sized professional landlords with a minimum of four properties in the UK are planning to increase their portfolios in the year ahead, as optimism about residential and commercial property builds despite fears of an economic downturn and the cost of living crisis.…

News

Real Estate Investment Platform Launches Israeli JV

FCA-regulated online real estate investment platform Shojin has partnered with innovative Israel-based investment platform, Realty Bundles, in a new joint-venture to lower barriers to entry for investors seeking to invest in institutional-grade real estate globally. The company has also announced it expects to announce additional initiatives in Australia and South Africa shortly. Shojin has offices…

News

Cushman & Wakefield Expands Healthcare Project Management Capabilities in California

Cushman & Wakefield has expanded its offering to the healthcare sector in the West Region of the United States with the addition of an eight-member project management team as well as the purchase of certain assets from Petra Integrated Construction Strategies, LLC, an end-to-end healthcare facility concept, planning, development, and project management services firm in…

News

S. Property Group in Swedish Smart Community Collaboration

Serendipity’s property company, the Stockholm-based S. Property Group, has confirmed the involvement of smart infrastructure providers Vattenfall and Three Sweden, Samsung Electronics and ABB (via an existing partnership with Samsung) in a new smart urban environment it is developing in Stockholm’s commuter belt. The developer expects implementation of the Brobyholm project which will be located…

News

Senior Tenant Representation Brokers Join Cushman & Wakefield from Savills

Cushman & Wakefield has welcomed several brokers from Savills to its Tenant Rep team in Silicon Valley in June. The new appointees bring extensive knowledge of the technology, life science and biotech, healthcare, finance and gaming sectors to their new roles – with companies they have served collectively including Alibaba, Boston Scientific, Softbank, Cohesity, Twilio,…

News

MRI Software Acquires NZ PropTech Platform

MRI Software has entered into an agreement to acquire New Zealand PropTech developer and cloud relationship management, media and marketing management, and transaction management platform for real estate agencies, PropertySuite. PropertySuite is used by more than 4,000 residential, commercial, rural and project marketing real estate professionals across Australasia to consolidate disparate systems, reduce duplicative efforts,…

News

JV Partnership Acquires Logistics Portfolio with Sitting Fortune 10 Global E-Commerce Tenant

Cushman & Wakefield has advised Gardner Batt on the disposal of an industrial portfolio of two newly constructed Class A industrial/logistics buildings let by a Fortune 10 global e-commerce company in Salt Lake City. The joint venture of Greenlaw Partners and Mirae Asset Global Investments acquired the 347,290-sf portfolio in Utah for a combined price…

News

Heylo Housing Selects MRI Solution for Property Part Ownership Programme

UK part buy-part rent housing provider heylo has installed the MRI LivingTM software suite to help manage its portfolio. The deployment of MRI Living allows the company to leverage a flexible set of tools that encompass property management, sales and lettings, and resident portals, as well as MRI’s fixed asset accounting and strategic planning solutions.…

News

Mixed Office and Retail Development Earmarked for LA Arts District

Plans have been unveiled for Above, a 350,000sf ground-up creative office project that will support the continuing regeneration of Los Angeles’ Arts District. Owned and entitled by LA-based The Legendary Group, the 17-story Class A project will consist primarily of 311,000 sf of office space on 12 floors plus 22,000 sf of ground floor production,…

News

Steve Avanzino Joins Cushman & Wakefield Land Advisory Group

Professional has transacted over 25,000 acres of land, including production agriculture and ranching properties, and has extensive knowledge of water rights

News

UK Apartment Association Announces New CEO

UK Apartment Association (UKAA), the trade organisation for the Build to Rent sector in the United Kingdom, has appointed Brendan Geraghty as Chief Executive Officer. Architect, design and development strategist Geraghty comes to the role with a deep understanding of the Build to Rent sector, having held roles with Centred Architecture, Optim and Geraghty Taylor…

News

DS Smith Appoints CBRE as Global Real Estate Advisor

CBRE has been appointed global real estate advisor to sustainable packaging business DS Smith. Under the terms of the agreement, CBRE will provide account management, real estate strategy, portfolio services and transactions and estates management services across DS Smith’s portfolio of around 500 properties across 34 countries with a total built footprint of 5.3 million…

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