MAPFRE has acquired an office building in Luxembourg, currently home to the law firm Clifford Chance. Office space makes up 82 per cent of the 5,195-square-meter property, which is located in the heart of the city’s financial district and holds BREEAM sustainability certification.
UK house prices have risen again in the latest ONS house price index for August, showing that growth is picking up steam as 2020 progresses, despite the effects of the pandemic.
Immofinanz has appointed international real estate adviser Savills as sole property manager for its portfolio of seven office buildings in Prague, Czech Republic, with effect from January 2021. The total floor area of the assets is approximately 123,000 sq m.
A joint venture between Benson Elliot, a London-based private equity real estate manager, Générale Continentale Investissements (GCI), a Paris real estate investment group, Canadian institution Alberta Investment Management Corporation (AIMCo) and 21st Capital, has pre-let the entirety of its Latitude office building to Sopra Steria.
Real estate assets to fall by up to 10 per cent or more in value, but will bounce back by 2021, says Duff & Phelps
Duff & Phelps, a provider of governance, risk and transparency solutions, has published a survey revealing that nearly four in 10 investors (39 per cent) expect commercial real estate assets to fall between 5-10 per cent in value in 2020, whilst nearly a third (31 per cent) predict a fall of 10 per cent or more as a result of the pandemic.
Private equity real estate investment manager Meyer Bergman has completed the sale of Montblanc House, Hamburg to Values Real Estate, formerly DC Values, for an undisclosed sum.
In response to the devastating explosion in the Port of Beirut in August, Miller Homes has partnered with Habitat for Humanity Great Britain to help rebuild the Lebanese capital.
Real estate investor and manager Cromwell Property Group (Cromwell) has acquired a 1,500 sq m office building located at 7 rue de la Baume in the 8th arrondissement of Paris on behalf of a foreign investor. Acquired off-market, the asset is fully let with a nine-year firm lease.
Purchase prices per square meter for residential real estate in major German cities have almost doubled since 2012.
Fixed income investment manager PIMCO has officially assumed the leadership and oversight of Allianz Real Estate – a global commercial real estate investment business.