Nearly €3 bn of real estate assets changed hands in Europe this week, with investors focusing on opportunities in the Nordics and Poland.

Retail accounted for just over €1 bn of transactions in a sign of renewed confidence in the sector. In Katowice, Poland, NEPI Rockcastle acquired Silesia City Center for a total of €405 mln finding the purchase with cash reserves from a recent October 2024 equity raise.

Rüdiger Dany, CEO, remarked: ‘This high-quality shopping centre has a commanding market position in Katowice, one of Poland’s largest and wealthiest cities, and we look forward bringing our asset management expertise to bear in the execution of long-term value growth initiatives in this latest investment.’

In the UK, Redevco completed the £518 mln (€630 mln) acquisition of a portfolio of 16 retail parks across the UK from Oxford Properties Group.

Neil Slater, CEO of Redevco, commented: ‘This acquisition is a welcome addition to our pan-European platform, demonstrating our confidence in this sector. Retail parks combine cash-flow resilience and adaptability, making them a compelling investment. Having focused on this sector internationally for years, we’re delighted to supplement our holdings at a fascinating time for the UK market.’

Transactional activity this week concentrated on the Nordics as well as Poland. Brinova Fastigheter, a Swedish real estate company, is forking out nearly €1 bn in new shares to pay for the Region Syd portfolio, which comprises properties in Skåne, Småland, and Denmark.

A local pension fund bought the Yrket 4 office scheme in Solna, Sweden, from developer NCC in a SEK 3600 mln (€312 mln) deal while in Poland Skanska has sold the P180 office building in Warsaw for some €100 mln.

In the recently completed loans section, a string of lenders and alternative financiers were busy arranging big ticket loans.

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (mln) Key facts
Region Syd portfolio living Sweden, Denmark Brinova Fastigheter K-Fastigheter NA SEK 10076 (€935) The purchase price will be paid with newly issued shares in Brinova.
UK retail park portfolio retail UK Redevco Oxford Properties 16 assets £518 (€629) Oxford Properties assembled the portfolio via the M7 Real Estate specialist platform, which it acquired in 2021.
Silesia City Center retail Katowice, Poland NEPI Rockcastle Allianz Finance VII Luxembourg, Kamsa Luxco 2, and Cura Beteiligungsgesellschaft International 88,400 m2 €405 The purchase is funded by cash reserves from a recent October 2024 equity raise.
Yrket 4 office Solna, Sweden KPA Tjänstepensionsförsäkring AB NCC 52,000 m2 SEK 3600 (€312) NCC intends to disassemble and re-purpose parts of the existing office building.
600 BTR apartments living UK LRC Invesco 600 apartments £120 (€146) All five schemes were converted from office to residential use in 2017.
Development portfolio living Madrid region Aedas Habitat 2,800 homes €129 Plans are to build 2,800 homes on the site.
Conrad Algarve hotel hotel Faro, Portugal Quinta Do Lago ECS fund 154 suites €100 The deal is one of the largest single-asset acquisitions ever signed in Portugal.
Moncada, Valencia logistics Valencia Barings Grupo Bertolín 123,000 m2 €100 The development is planned in three phases, starting in the first half of 2025.
P180 office building office Warsaw Investika Real Estate Fund and Bud Holdings Skanska 32,000 m2 €100 P180 is a Class A office building with 15 floors, and full occupancy.
18 assets mixed Sweden Sagax NA 85,000 m2 SEK 750 (€65) The assets have a 96% occupancy rate, with an average lease term of 6.8 years.
Logistics facility logistics Paris MEAG Mousquetaires Group 40,000 m2 NA The Mousquetaires Group has taken a 12-year lease on the entire facility, with occupancy slated for early 2027.
The Cloud One Hotel hotel Gdansk, Poland Invesco Real Estate Granaria Development Gdansk 327 rooms NA The hotel will be managed and operated by Motel One Group GmbH under a secured 25-year lease agreement.
Three logistics assets logistics Spain, The Netherlands Fidelity International NA 118,000 m2 NA The deal is the inaugural purchase for the Fidelity Real Estate Logistics Impact Climate Solutions Fund.
Logistics facility logistics Hochheim am Main, Germany Pictet Alternative Advisors and Scantum DW Branicks Group 20,000 m2 NA The property is currently fully let.
Logistics facility logistics Lyon CBRE Investment Management Altarea Logistique 56,225 m2 NA Delivered in November 2024, the project is fully let to Samse, a distributor of construction tools and materials.
Atout-Box self storage platform alternative France Ardian Atout-Box 40,000 m2 NA The acquisition is part of Ardian’s strategy of creating a property platform dedicated to self-storage.

 

 

Assets on the market       
Asset Asset type Location Vendor Size Price (mln) Broker Key facts
Clever2 multi-let asset in Gennevilliers office Grand Paris Blackrock 22,000 m2 €40 NA Blackrock bought the asset from Carval in 2023.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (mln) Key facts
Apollo Canary Wharf Group 1.2 million ft retail portfolio £610 (€740) The proceeds will be used to repay CWG’s bonds due in April 2025 and April 2026.
Aareal Bank Redevco 16 retail parks £290 (€351) The financing marks Aareal Bank’s first engagement with Redevco.
Aareal Bank McArthurGlen and Nuveen Real Estate Designer Outlet Neumünster €214 Aareal Bank acted as sole underwriting for this transaction which marks the beginning of a new relationship with McArthurGlen.
M&G The Jersey Homes Trust Social housing portfolio £60 (€73) The funding will allow JHT to refinance existing debt on more favourable terms, including access to long-term funding.
Maslow Capital RedOak Property 184-bed PBSA scheme in Bristol £31.3 (€38) The development finance facility will enable RedOak to refinance previous planning costs and fully fund the ongoing development of the site.

 

Funds on the market   
Firm Fund Strategy Details
Blue Sgr Andora Mare Redevelopment of a beach area in Andora, Italy. The fund has acquired the 10,000 m2 Ex Ariston complex which will be redeveloped into apartments.
Slättö Slättö Value Add III Focusing on residential and light industrial properties. The fund raised SEK 2.5 bn (€220 mln) at the first close.

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