Areim and VGP’s €509m deal was the largest of a string of major logistics portfolio acquisitions completed this week as operators continue to boost their platforms.

Areim and VGP’s 50:50 joint venture has taken control of 18 assets, representing 424,000sqm of space across Spain, Italy, Portugal, Germany, Austria, the Czech Republic and Slovakia.

Meanwhile, CTP entered the Italian market with the €241m acquisition of VLD, a development company holding a landbank of 1.7m sqm, previously controlled by FBH Group. The firm had been looking at opportunities in the country for the past year.

Maarten Otte, head of investor relations and capital markets tells IPE Real Assets: “The Italian market is relatively undersupplied with around 0.5sqm of logistics space per capita, compared to over 1sqm per capita in most other Western European markets.

“Secondly, Italy has a very strong manufacturing industry and we have a lot of expertise in these sorts of assets. We see opportunities on the industrial side, to carry out brownfield developments similar to what we are doing in Germany.”

CTP plans to invest €1bn in Italy over the next five years.

In the Netherlands, P3 Logistic Parks has acquired a 156,000sqm portfolio of five logistics assets and one redevelopment site from funds managed by Blackstone, while in France, AEW agreed to forward-fund the development of a new Grade A logistics platform in Cavaillon, on behalf of a mandate for the French public service additional pension scheme ERAFP. The acquisition from Faubourg Promotion involves 21,700sqm of space.

Sweden saw the bulk of activity. SLP bought a portfolio of four assets from DSV, while Brookfield took control of a portfolio of 33 Swedish light industrial assets from EQT Real Estate II Fund.

Olivier Astruc, managing director at EQT Real Estate, said: “The performance of these Swedish logistics real estate assets has been underpinned by continued growth in strategically targeted cities located in proximity to logistics and industrial sub-markets.

“Over the years, we have aggregated a high-quality portfolio, enhanced its performance by prioritising occupiers’ needs, and we are pleased to have found the right owner to continue its growth.”  

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
portfolio of 18 assets logistics Spain, Italy, Portugal, Germany, Austria, the Czech Republic and Slovakia Areim and VGP VGP 424,000m2 €509 The joint venture, focusing on investments in prime logistics in Europe, is targeting €1.5bn in gross asset value.
Holiday Inn London - Kensington High Street hotel London Copthorne Hotel Holdings Cola Holdings 706-room £280 (€319) The hotel has consistently performed well achieving almost full occupancy for the nine months to September 2025.
102 Petty France office London Arora Landsec 353,000sqft £245 (€279) The deal was first announced over the summer.
VLD S.r.l. logistics platform logistics Italy CTP FBH Group 8.7m m2 €241 There are multiple projects under construction with 200,000m2 scheduled for completion in 2026.
The Burlian mixed London Allwyn Entertainments Hines 41,000sqft £200 (€228) The deal reflects a 3.75% net initial yield.
five logistics assets and one redevelopment logistics The Netherlands P3 Blackstone 156,000m2 €200 The properties are situated in Roosendaal, Eindhoven, Oss, Tiel, Vianen, and Dordrecht.
nursing home portfolio living Belgium Care Property Invest Clariane 9assets €143 The 9 assets are operated by Korian Belgium under twenty-year lease agreements.
Port7 office Prague AFI Skanska 36,000m2 €130 The fully leased office and retail spaces are home to companies from a wide range of industries.
Espace la Rochefoucauld, 24 rue de Surene, high street package mixed Paris Hestia IM NA NA €110 The three properties are for residential, office and retail use.
portfolio of four assets logistics Sweden SLP DSV 66,000m2 €101 (SEK1111) The properties, which are terminals, are fully leased with an average rental duration of just over 7.5 years.
Campus Science Park office Brno, Czech Republic SPM Corebridge 50,000m2 €95 Campus Science Park comprises five high‑standard buildings offering flexible layouts suitable for high‑tech research, development, and office use.
two newly developed residential properties in Knivsta living Sweden Ontario Teachers’ Pension Plan and Gordion Genova and Redito 25,000m2 €77 The properties were acquired in 2017 for an underlying value of SEK 38m and since then a total of 284 apartments were developed on the site.
five Rewe supermarkets retail Germany Captiva Zehentner und Seidel Immobiliengesellschaft 21,500m2 €65 The assets are located in Mecklenburg-Western Pomerania, Saxony-Anhalt, and Saxony.
The Book office Amsterdam Molsbergen Development, Focus on Impact, CCAP Real I.S. 40,000m2 €65 The asset is leased to The Central Government Real Estate Agency.
four care homes living Scotland Target Healthcare NA NA £45 (€51.2) The portfolio consists of three operational assets, and one development due for completion next year.
logistics project logistics France AEW, ERAFP Faubourg Promotion 22,000m2 NA The pre-let logistics platform in Cavaillon is being acquired in a forward-funding deal.
33 industrial assets logistics Sweden Brookfield, Broadgate EQT 144,000m2 NA The portfolio includes warehouses, light-industrial properties and other last-mile assets.
Plot B at Dockside Canada Water development London Fusion, Cheyne Capital Art-Invest Real Estate 742beds NA The scheme forms part of the 1.5m sq ft Dockside Canada Water urban district.
two multifamily residential portfolios living Berlin MPC, Dunman Capital two Spanish multifamily investment companies 30,000m2 NA The initial Berlin seed portfolio represents €120m in deployed capital, with a target platform size of €500m.
Cinisello shopping centre retail Milan ITAY Properties Gruppo Filcasa 11,000m2 NA The three-level malls includes 600 parking malls.
four student housing residences living France Greystar Catella 1,090beds NA The portfolio comprises 1,091 beds across Evry, Bordeaux, Toulouse, and Labège.
Pfingstweidstrasse asset office Zurich Swiss Prime Site Private owner 19,000m2 NA The Swiss stock exchange operator SIX Group Services AG moved into the then newly constructed commercial property in 2016 and occupies the entire space as the sole tenant.
Donnafugata Golf Resort & Spa hotel Ragusa, Sicily Arrow Global NA 200 rooms NA The asset will be completely restructured.
Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
IBM Technology Campus mixed Stuttgart IBM Germany 56,000m2 NA NA IBM inaugurated the asset in November.
Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
Bond investors Grand City Unsecured €600 Investor demand reached over €2bn.
Bond investors LONDONMETRIC PROPERTY PLC Unsecured £500 (€572) The Bonds have a weighted average coupon of 4.69%, a weighted average maturity of 5.5 years.
Bond investors Praemia Healthcare Unsecured €500 The notes have a coupon of 3.875%.
Morgan Stanley Sigma Capital Group Single family home portfolio in the UK £268 (€305) The new facility has been established to refinance a newly-completed portfolio of 1,400 homes.
Natixis Pfandbriefbank Phoenix Spree German resi portfolio €255 The refinancing has a five-year term and an interest rate of 210 basis points above the three-month Euribor.
Nordea Bank and OP Corporate Bank Vantaan Valo Jumbo shopping centre in Finland €225 Located in Vantaa, Jumbo Shopping Centre is the largest shopping centre in Finland in terms of sales.
Aviva Investors The Arora Group 102 Petty France in St James’s, Central London £175 (€200) The three-year facility, provided by several funds managed by Aviva Investors, will be used to finance Arora’s acquisition of 102 Petty France in St James’s, Central London.
AIB Ballymore Housing portfolio €130 The five-year green loan facility will accelerate Ballymore’s housing pipeline.
Nordic Investment Bank Eiendomsspar Nordbygata 16-18 and Karl Johans gate 8 €36 The 7-year loan agreement is to finance the refurbishment of two central Oslo properties.
New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
M&G Real Estate, Asian pension fund UK multifamily JV Investing in UK multifamily assets M&G’s With Profits Fund and the unnamed pension fund have each contributed £300m in equity to create the venture.
      The vehicle plans to develop over 3,000 rental homes in London and regional cities creating a portfolio expected to exceed £1bn.
DFI and Evervest komvi Danish single-family rental platform JV The platform is targeting €500m in assets under management and has secured a cornerstone investment from Grosvenor’s Diversified Property Investments business (DPI), which represents Grosvenor’s first investment in Denmark.