The London Borough of Hounslow has granted AIPUT (Airport Industrial Property Unit Trust) planning permission for a 67,000 sq ft Gross External Area high-spec industrial warehouse building at its Radius Park industrial campus at Heathrow Airport. The new ‘RP6’ warehouse will be a consolidation of two previous warehouse buildings at AIPUT’s 16-acre Radius Park campus. …
REIT
Valpre Capital, a London-based private equity real estate investment firm, Revelate Capital, an Irish based real estate investment and development business and Aventicum Real Estate, a pan-European value-add real estate platform owned by UBS, have announced a strategic partnership for the development of 10 Newmarket Square, a contemporary residential Build-to-Rent scheme in the heart of Dublin’s City…
Savills Investment Management (Savills IM) has sold a logistics warehouse portfolio consisting of three freehold assets in Borås, Ljungby, and Halmstad in Southern Sweden, on behalf of its Nordic Logistics Fund. Niam acquired the portfolio, establishing their new Nordic Logistics Portfolio. The assets are fully let to well-known logistics operators and publicly financed tenants, situated…
The Welcome Building, a new type of workspace for Bristol which is being delivered by a joint venture between Tristan Capital Partners fund EPISO 5 and Candour has achieved an important construction milestone. With the building reaching its highest point celebrated at a topping out ceremony, Main contractor Wates is scheduled to complete the project…
Pan-European real estate fund manager PineBridge Benson Elliot has secured £300 million of new debt facilities to finance the acquisition of 34 sites, or around 2,600 units, as part of its UK single family rental aggregation strategy. The strategy is targeting in excess of 5,000 units, through Sigma Capital Group, a provider of build-to-rent housing…
The RO Group has sold the Travelodge located on the Riverside Retail Park, Hankridge Farm in Taunton to The Independent Order of Oddfellows Manchester Unity Friendly Society’s Unity United (Property) Investment Fund. A sale price of £3.9 million reflecs a net initial yield of 6.375 per cent. The RO have owned the hotel which is…
Savills Investment Management has acquired a light industrial park in Essen for its European Urban Logistics & Industrial Fund (EULIF). The seller is a joint venture of the Adolf Weber Real Estate and Project Development Company, which realised the inner-city business park in the last two years. Savills IM’s group logistics AuM now totals €6…
Savills Investment Management has appointed Kevin Aitchison to the new role of Managing Director – Equity Investments UK & Europe. Aitchison will join Savills IM at the end of 2023, and report to Alex Jeffrey, Chief Executive. He joins from Knight Frank Investment Management (KFIM), where he has held the position of Chief Executive for over…
Savills Investment Management has appointed Apwinder Foster to the new role of Global Head of Strategy and Client Capital. In this new role, Apwinder will play a key role in driving a globally coordinated approach to Savills IM’s client-facing activities as well as product strategy. She will take up the newly created role with immediate…
Prologis UK, the British arm of the San Francisco headquartered industrial REIT specialising in the logistics sector, has promoted James Straw as a director of its UK Capital Deployment and Leasing team. Straw joined Prologis UK in May 2016 and began working in the Investment Services team, where he gained a deep understanding of the…
AIPUT (Airport Industrial Property Unit Trust) has let the newly completed ‘Black Arrow’ warehouse at its Blackthorne Point logistics campus which is part of the fund’s Poyle Trading Estate development to the west of Heathrow’s Terminal 5. The site is the first UK logistics base for international freight forwarder, EFL Global, who are in growth mode. …
Savills Investment Management has completed the acquisition of two newly built residential properties in Valencia for its European Living Platform for a total purchase price of around €66 million. The seller of the properties, Neinor Homes, is a leading Spanish developer of residential assets for Build to Suit (BTS) and Build to Rent (BTR) with…
Global satellite company Terran Orbital Corporation and net lease REIT W. P. Carey have broken ground on a 94,000 sq. ft satellite manufacturing facility at 4 Goodyear in Irvine, California. In partnership with Terran Orbital, W. P. Carey – one of the largest net lease REITs with an enterprise value of approximately US $25 billion…
Equity Residential has announced the death of founder and Chairman Samuel Zell, an early exponent of real estate investment trusts (REIT). A real estate investor since the 1960s, Zell helping revolutionize publicly traded real estate companies when he popularized the REIT structure in the 1990s, also pushing for their ownership structure to reflect an increasingly…
Savills Investment Management (Savills IM) has entered into an agreement to acquire six fully let residential assets in Sweden for c. €100 million for its European Living platform. The seller of the assets was the Swedish listed developer and property company K2A Knaust & Andersson Fastigheter AB, and the deal was sourced off market. The…
Ana Lai, Senior Director Real Estate, S&P Global Ratings, says the office real estate market in the United States is deteriorating, pressured by longer-term secular headwinds from remote working and near-term cyclical risks from a slowing economy and weaker job growth, and explains recent rating actions following a portfolio review of office REITs. We expect…
Ana Lai, Real Estate Senior Director at S&P Global Ratings, comments on the impact of 12 months of mortgage rate increases on rental housing affordability following a low interest ‘home-buying boom’ in the residential REIT and social housing markets. Mortgage costs have nearly doubled, forcing more consumers to rent or to continue renting for longer. S&P…
Apex Group has been appointment by Capital Prudential Manager Pty Ltd to support the Capital Prudential Real Estate Master Trust. Capital Prudential is a leading non-bank financial institution, offering attractive returns from pooled investment in diversified property developments delivered entirely as regular predictable income streams. Apex Group has been appointed to provide Fund Administration, Loan…
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…