Tag Archives: Real estate

CapMan Nordic Property Income Fund (non-UCITS) acquires a mixed-use industrial property in Copenhagen

CapMan Nordic Property Income Fund (non-UCITS), has acquired Stamholmen 70, a light production and office property, in a sale and lease back transaction.

The approx. 14,000 sqm property is situated in Avedøre Holme, a mixed industrial and commuter suburb to Copenhagen. The property is fully let with a long lease agreement to the seller Intermail A/S, a Danish publicly listed communications company. The property is located close to the E20 highway, which provides easy access to Kastrup Airport and Copenhagen city centre.

“The Danish market provides many opportunities in line with CapMan Nordic Property Income fund’s cash flow focused investment strategy. We are very pleased with this acquisition and the continued co-operation with Intermail. The flexible layout of the property combined with its logistics capabilities are attractive for potential future tenants. The excellent location and good income outlook make it a perfect fit for the CapMan Nordic Property Income fund,” says Sampsa Apajalahti, Investment Director and Fund Director of CapMan Nordic Property Income Fund.

CapMan Nordic Property Income Fund (non-UCITS) is an open-ended special investment fund which accepts new subscriptions on a quarterly basis. The Fund focuses on stable income generating properties in the largest and most liquid Nordic cities with solid long-term growth fundamentals. CMNPI fund targets mainly offices and necessity-driven retail assets. In addition, the fund will also invest in other real estate sectors providing stable and predictable income. The acquisition of Stamholmen 70 is the fund’s fifth transaction and its second in Denmark.

CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over EUR 1.7 billion of assets under management deploying four different investment strategies.

For further information, please contact:
Sampsa Apajalahti, Investment Director, Fund Director, CapMan Real Estate, tel. +358 40 575 2363
Peter Gill, Investment Director, CapMan Real Estate, tel. +45 20 43 55 63

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 30 years. CapMan employs today approximately 120 private equity professionals and has approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Buyout, Growth, Real Estate, Infra, Credit and Russia. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services. www.capman.com

Categories: News

Tags:

Gaw Capital Partners and Consortium Partners Win Bid to Acquire 12 Shopping Centers in Hong Kong

Gaw Capital

December 12, 2018, Hong Kong – Gaw Capital Partners today announced that the firm, through a fund under its management, and consortium partners, including Goldman Sachs, have won a bid to acquire a retail portfolio comprising 12 shopping centers in Hong Kong from Link Asset Management Limited at HK$ 12.01 billion and an average price of around HK$7,839 per sq. ft. excluding parking.

The portfolio is comprised of a number of strategically-located properties across Hong Kong Island, Kowloon and the New Territories that sit in the heart of densely-populated communities. The GFA of the portfolio totals 1.1 million sq. ft. of prime retail space and comes with over 4,700 parking spaces that are connected to highly-convenient transport links. Their excellent accessibility and holistic shopping environments have made them attractive destinations for retailers and hubs of community life for residents.

The shopping centers included in the portfolio are: Retail and Car Park within Ap Lei Chau Estate, Chun Shek Shopping Centre, Fortune Shopping Centre, King Lam Shopping Centre, Lei Tung Commercial Centre, Ming Tak Shopping Centre, Shan King Commercial Centre, Siu Hei Commercial Centre, Retail and Car Park within Tai Ping Estate, Wah Ming Shopping Centre, Wah Sum Shopping Centre, Wang Tau Hom (Wang Fai Centre).

Goodwin Gaw, Chairman and Managing Principal of Gaw Capital Partners, said, “We and our partners are confident about Hong Kong’s future, and believe these malls will continue to serve important functions in the community. Followed by the bid we won together with our consortium partners to acquire 17 shopping malls in 2017, we will further leverage our experience to evolve these malls into refreshed and renewed centers of local life and collaborate with the local NGOs and existing tenants to build a better neighborhood for themselves.”

Kenneth Gaw, President and Managing Principal of Gaw Capital Partners, commented, “We worked closely with the community over the past 12 months and implemented a series of initiatives to better make use of these malls for the community. We look forward to applying our expertise in repositioning commercial property to add significant strategic value to this additional portfolio.”

Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai; Pacific Century Place in Beijing, a 170,000 sqm (1.8 million sq. ft.) renovated mixed-use commercial property with two office towers and two serviced apartment blocks on a retail podium; Cross Tower in Shanghai, a 22-storey office with a two-storey retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 28,000 sqm (302,000 sq. ft.) retail mall; Plaza 353 in Shanghai, a 40,000 sqm (430,000 sq. ft.) renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 92,400 sqm (994,000 sq. ft.) retail mall connected to the Guangzhou East Railway Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 88,800 sqm (956,000 sq. ft.) mall located above two subway lines.

Categories: News

Tags:

TMG Partners and KKR Acquire 1221 City Center in Downtown Oakland

KKR

TMG and KKR partner on second Oakland-based transaction in 2018

SAN FRANCISCO/OAKLAND, Calif. & NEW YORK–(BUSINESS WIRE)–Dec. 3, 2018– TMG Partners, one of the Bay Area’s largest mixed-use property developers, and KKR, a leading global investment firm, announced today the purchase of 1221 City Center in Downtown Oakland, California. The purchase is the second transaction by TMG and KKR in Oakland this year, following the purchase of 1330 Broadway in Oakland in July.

This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20181203005485/en/

1221 City Center (Photo courtesy of TMG Partners)1221 City Center (Photo courtesy of TMG Partners)

The project is a 24-story, 522,000-square-foot office building and is located at the intersection of Broadway and 12th Street. The building is one of three in the Bay Area that enjoys access to BART via a direct entrance to the 12thStreet Station through the building lobby.

“We expect that the Oakland office market will continue its positive trajectory because of strong tenant demand and extremely limited supply,” said TMG’s Director of Development David Cropper. “We look forward to broadening our partnership with KKR in the future.”

“We are excited to partner with TMG for our second Oakland-based transaction this year, which will be KKR’s third investment in Oakland since 2017. We believe Oakland has attractive long-term secular growth trends driven by its accessibility to transit, a growing retail amenity base, and a meaningful amount of residential development,” said Justin Pattner, Head of Real Estate Equity in the Americas at KKR. “1221 City Center is an iconic property in the Oaklandskyline, and we look forward to the next phase of its business plan.”

KKR is making the investment through its Real Estate Partners Americas II Fund.

1221 City Center is 99% leased. Existing tenants include Clorox, Union Bank, Stanford Health Care, Wells Fargo Bank and Parsons Brinkerhoff.

The building has previously achieved a LEED Platinum rating by the US Green Building Council and features panoramic Oakland skyline and Bay views, onsite retail amenities and ample parking, as well as bike lockers and showers.

TMG, which recently celebrated its 33 1/3 anniversary, has been increasingly active in the Oakland office market. The purchase of 1221 City Center represents TMG’s fourth transaction in Oakland. 1330 Broadway was TMG’s first Oaklandredevelopment. Last year, the firm also acquired 2201 Broadway, an eight-story 198,000-square-foot office building in Uptown Oakland. Currently, the firm is also entitling an approximately 750,000-square-foot office and retail tower at the intersection of Grand Avenue and Telegraph Avenue.

About TMG Partners

TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including San Francisco, San Jose, Oakland, Palo Alto, San Bruno, Emeryville, and Marin City. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit www.tmgpartners.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

MEDIA:
TMG Partners: Julie Chase
jchase@jchasepr.com
415.710.7108

KKR: Kristi Huller or Samantha Norquist
Phone: 212-750-8300
media@kkr.com

 

Categories: News

Tags:

H.I.G. Capital Invests in Wellness Hotel in Germany

HIG Capital

LONDON – November 30, 2018 – H.I.G. Capital, LLC (“H.I.G.”), a leading global private equity investment firm with over €26 billion of equity capital under management, announced today that one of its affiliates has recently completed an investment in BollAnts Spa im Park, a 105-room wellness hotel & resort in Bad Sobernheim, Germany. BollAnts Spa im Park is one of the leading wellness resorts in Germany and has earned many awards including, most recently, the prestigious Tatler award for one of the best spas in the world (2018). Terms were not disclosed.

H.I.G. Realty continues to add to its sizeable holdings of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small/midcap opportunities.

Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners in London, commented: “The German real estate market represents a key part of our European value-add strategy and we continue to actively look at opportunities in the small/midcap sector across the capital structure”.

Sanjoy Chattopadhyay, Managing Director at H.I.G. Europe Realty Partners in London, added: “The transaction demonstrates our ability to leverage our strong network and track record to acquire high-quality assets with significant value-add potential. The fundamentals of the German wellness industry are attractive, and we look forward to pursuing further similar investments”.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €26 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach:

  1. H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

Categories: News

Tags:

Gaw Capital Partners and Consortium Partners Acquire Ocean Towers in Shanghai

Gaw Capital

 

November 29, 2018, Shanghai – Real estate private equity firm Gaw Capital Partners announced that the firm, through a fund under its management together with consortium partners including QuadReal Property Group, have acquired Ocean Towers, a 25-storey Grade A office building strategically located in People’s Square, Shanghai, the heart of the city and its political and cultural center.

With 50,219 sqm (540,552 sq. ft.) of above-ground titled GFA and 185 car parking spaces, Ocean Towers enjoys strong exposure to customer traffic and excellent accessibility. Located at 550 East Yan’An Road, Ocean Towers is in the heart of Huangpu District. It is next to Nanjing East Road, Shanghai’s most popular pedestrian street and traditional commercial center, where tenants can enjoy easy access to the existing comprehensive transportation system and road infrastructure. Its prime position also offers excellent access to Shanghai’s busiest commercial and entertainment districts. It is within a five-minute drive to Nanjing West Road CBD, Xintiandi, Lujiazui and the Bund as well as being in close proximity to well-established commercial amenities such as Raffles City, Shimao Bailian, JW Marriot Tomorrow Square, Westin and Nanjing East Road Pedestrian Street.

The property is well-served by public transport as both People’s Square Station (Metro Lines 1, 2 and 8) and Dashijie Station (Metro Line 8 and the future Metro Line 14 to be completed by 2020) can be reached by foot in five to eight minutes. The property also enjoys spectacular, unobstructed views of the Bund and Little Lujiazui from its top floors which allows the possibility of better rental returns.

By leveraging its prime location and its views of the Huangpu River, Lujiazui and other major CBDs in Puxi, Gaw Capital believes there is great potential for Ocean Towers to further enhance its occupancy rate and advertisement income.

Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners said: “Gaw Capital and our partners are confident about Shanghai’s property market, which has continued on an upward trajectory despite the uncertain external economic environment. Shanghai’s economic development has surpassed all other cities in China with 6.9% growth in GDP. Shanghai remains China’s top gateway city for both multinational corporations and domestic companies, with Shanghai’s CBD Grade A offices continuing to demonstrate a strong leasing momentum. Ocean Towers is ideal for tenants looking for high quality Grade A office space in the Huangpu District in Shanghai.”

He added, “We hope to leverage our experience in redesign and re-positioning to enhance asset value and attract new tenants. In addition, we will reposition and upgrade the tenant mix to add significant, strategic value to the Grade A building.”

Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park; Pacific Century Place in Beijing, a 170,000 sqm (1.8 million sq.ft) renovated mixed-use commercial property with two office towers and two serviced apartment blocks on a retail podium; Cross Tower in Shanghai, a 22-storey office with a two-storey retail podium; Ciro’s Plaza in Shanghai, a mixed-use property with a 39-storey office building and a 28,000 sqm (302,000 sq.ft.) retail mall; Plaza 353 in Shanghai, a 40,000 sqm (430,000 sq.ft.) renovated mall with historical heritage status; Popark Plaza in Guangzhou, a 92,400 sqm (994,000 sf.ft.) retail mall connected to the Guangzhou East Rail Station, with high-speed trains to Shenzhen and Hong Kong, and access to two major subway lines; and Metropolitan Plaza in Guangzhou, a 88,800 sqm (956,000 sq.ft.) mall above on two subway lines.
About Gaw Capital Partners 

Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.

Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.

Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally.

Gaw Capital has raised equity of USD$ 9.8 billion since 2005 and commands assets of USD$ 18.3 billion under management as of Q2 2018.

About QuadReal Property Group (www.quadreal.com)
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s CAD $24.5 billion portfolio spans 23 global cities across 17 countries. Owned by bcIMC, one of Canada’s largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves.

Categories: News

Tags:

Announcing our investment in Nested

Northzone

Nested, the startup that simplifies selling your home, has raised £120m in funds as they continue to disrupt estate agency in the UK. The round consists of £100m in debt financing from an institutional investor, and £20m in equity from leading European VCs Northzone and Balderton Capital, bringing total funding for the growing business to £165m.

Launched in 2016, Nested is the first estate agent to make home sellers chain-free. The company
provide a cash advance on the value of the property enabling customers to become cash buyers,
speeding up the process of moving home. Since launching, Nested has experienced rapid growth, helping over 400 homeowners during a period of market uncertainty with home sales falling 12% over the last year and 61% of homes for sale in London withdrawing from the market without selling, an effect of a slowing market in anticipation of Brexit.

Nested is driven by a mission to fix the broken housing market, bringing honesty to a traditionally opaque industry. In addition to the unique cash advance, Nested have built a strong reputation with customers for transparent and data-driven valuations, offering vastly improved accuracy compared to high-street estate agents. To back-up it’s ability to value homes accurately, Nested make their valuation performance public.

Matt Robinson, CEO of Nested, said: “We’re excited to receive the backing from some of Europe’s top VCs who share our vision for fixing the age-old problem of buying and selling homes. We are building an incredible team to offer an unassailable service with the most progressive technology in the property industry. This investment will allow us to continue solving the problems that prevent people from moving home with ease.”

Jeppe Zink, Partner at Northzone, said: “Selling a home is the biggest and most important transaction most people undertake. Yet the sales process remains opaque, with the resulting never-ending property chains becoming the bane of the industry. I was immediately convinced by Matt’s vision for Nested to fix this, giving home-sellers an accurate view, backed by an advance, of the price they can achieve for their property. This means they can have peace of mind and the freedom to focus on securing their new dream home. I truly believe that Nested can be a fundamental game-changer and we are incredibly excited to be part of the journey.”

1 12% decrease in Residential Property Transactions from Sept 2017 to Sept 2018: HMRC Property Transactions
2 61% of homes listed for sale in London withdraw from the market: Dataloft & Reapit
3 Nested sell for an average of 1.5% more than the average valuation: Nested Performance

About Nested: Fixing home selling in the UK
Nested is an estate agent with a difference. It provides home sellers with up to 95% of their homes value when they need it and the rest when it sells, helping them to secure their dream home and providing certainty in an uncertain market. The innovative start-up was founded by established entrepreneurs, Matt Robinson (former GoCardless co-founder and current Board member) Phil Cowans (former Songkick CTO) and trained architect, James Turford.

Nested does all the work of a traditional estate agent, but unlike other agents it provides additional
value-add services including; experts at every step of the process including a dedicated progression
team, data-driven, transparent valuations, and an advance of up to 95% of the market value. If the home sells above this amount the seller will receive that too (minus their fees) and if it sells for less, Nested will take the loss.

  

Categories: News

Tags:

Apleona to sell leading UK real estate advisor GVA to Avison Young

eqt

  • Represents an important step in Apleona’s continued transformation into a leading European real estate management services provider
  • GVA will be combined with Avison Young’s existing UK operations and will continue its growth strategy under Avison Young’s ownership

Apleona Limited (“Apleona”), an EQT VII portfolio company, today announced that it has entered into a definitive agreement with Avison Young (Canada) Inc. (“Avison Young”), a Canada-based commercial real estate firm, under which Avison Young will acquire Apleona’s subsidiary, GVA.

GVA was acquired by EQT as part of Apleona in September 2016. UK-based GVA is a multi-disciplinary business offering clients advisory services that span the entire property life cycle from strategy and planning through to delivery. The firm has 1,500 employees in 15 offices in the UK, Ireland and Poland.

Mark Rose, Chair and CEO of Avison Young, comments: “We couldn’t be more excited to welcome GVA to Avison Young. This is a transformational event that underpins our ambition and intent to significantly expand our footprint in Europe and beyond. Avison Young and GVA have complementary businesses in the UK, and this combination of expertise and talent will better equip us to serve global clients.”

Gerry Hughes, CEO of GVA, comments: “To say I am delighted by this deal is an understatement. We could not have asked for a better outcome for the GVA business, our clients and our staff. We now enter a new era as a key component of a global real estate advisory platform which will allow us to further flourish and better serve global clients. I look forward to joining the Avison Young partnership and working with Mark, and I want to thank EQT for the support and opportunities it has given to GVA over the last few years.”

Andreas Aschenbrenner, Partner at EQT Partners, Investment Advisor to EQT, adds: “We are thrilled to have found the perfect long-term home for GVA in Avison Young, which is committed to continuing the growth strategy that GVA embarked on under EQT ownership. I am confident that GVA and Avison Young together will flourish, and I am excited to see GVA and Avison Young grow further to become one of the leading real estate advisors worldwide. The sale also marks another important step in transforming Apleona into the leading European provider of real estate management services.”

The transaction is expected to close during the first quarter of 2019, subject to the satisfaction of customary approvals from governmental and regulatory bodies.

EQT was advised by BofA Merrill Lynch (M&A) and Milbank, Tweed, Hadley & McCloy LLP (Legal).

Contacts

Dr. Andreas Aschenbrenner, Partner at EQT Partners, Investment Advisor to EQT, +49 89 2554 9943

EQT Press Contact, +46 8 506 55 334

About EQT

EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About GVA

GVA is a leading real estate advisory business with 15 offices and 1,500 staff in the UK, Ireland and Poland. With its in-depth understanding of the market, supported by a leading research capability, GVA advises private businesses and the public sector on the whole real estate lifecycle. GVA is an independent group under the ownership of EQT Partners.

More info: www.gva.co.uk.

About Avison Young

Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its principals. Founded in 1978, the company comprises 2,700 real estate professionals in  85 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

More info: www.avisonyoung.com

About Apleona

Apleona is a leading European real-estate services provider based in Neu-Isenburg near Frankfurt. Approximately 20,000 employees in more than 30 countries operate, manage, expand and equip real estate in all asset classes, operate and maintain plant and assist customers in a whole host of industries with production and secondary processes. The Group’s range of services extends from integrated facility management, building technology and interior fittings to real-estate management with all commercial services, letting, leasing and marketing of real estate. All services are provided on a modular basis or in an integrated package. In a regional or supra-regional account structure according to customer requirements, country-specific and service-specific operating companies ensure optimum performance and a uniformly high standard of quality across national borders. Apleona’s customers include leading industrial companies, investment funds, insurance companies, banks, the public sector, developers, owners and users.

More info: www.apleona.com

 

Categories: News

Tags:

CapMan Nordic Real Estate II leases large retail area in central Oslo to Power

CapMan Nordic Real Estate II fund has let approx. 1,800 sqm of retail space at Lille Grensen 5 to Power, the large and well-known pan Nordic electrical retailer.

Power has leased the entire basement, ground and first floor retail space for a period of 11 years. The property is a 4,700 sqm mixed retail and office building located on Lille Grensen, a well-known pedestrianised street in the heart of Oslo city centre which connects with both Karl Johans gate, the premier retail street in Oslo, and Grensen.

“We are very excited to sign a long-term agreement with Power, who we think is an ideal tenant for this property. Leasing to an exciting brand such as Power within six months of our previous tenant vacating clearly demonstrates the attractiveness of our property both in terms of quality and location. Lille Grensen 5 is CapMan Real Estate’s second investment in Oslo and we are pleased to intensify our co-operation with both tenants and property professionals in the Norwegian market,” comments Ed Williams, Managing Partner at CapMan Real Estate.

Power wishes to strengthen its position in Oslo and will, through this store, create a future-oriented retail outlet that takes into account the role and impact of e-commerce. Power expects to launch its store of the future during March 2019.

Malling & Co and CLP acted for CapMan in the transaction.

CapMan Nordic Real Estate II is a €425 million fund raised in August 2017. The focus of the fund is to acquire mainly office, retail and residential properties located in established submarkets of major Nordic cities.

CapMan Real Estate has a team consisting of over 30 real estate professionals in Helsinki, Stockholm and Copenhagen. CapMan Real Estate was established in 2005 and it currently has over €1.7 billion of assets under management.

For further information, please contact:
Ed Williams, Managing Partner, CapMan Real Estate, tel. +46 76 506 20 71

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value-creation in its target companies and assets. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers we have developed hundreds of companies and real estate and created substantial value in these businesses and assets over the last 30 years. CapMan employs today approximately 120 private equity professionals and has approximately €2.8 billion in assets under management. We mainly manage the assets of our customers, the investors, but also make investments from our own balance sheet. Our objective is to provide attractive returns and innovative solutions to investors. Our current investment strategies cover Real Estate, Buyout, Russia, Credit, Growth Equity and Infra. We also have a growing service business that currently includes procurement services (CaPS), fundraising advisory (Scala Fund Advisory), and fund management services. www.capman.com
twitter.com/CapManPE

Categories: News

Tags:

KKR and Regal London Acquire Strategic New Site In London’s SW9

No Comments

KKR

London, 17 October 2018 – Leading developer Regal London, and joint venture partner KKR, a leading global investment firm, have acquired a strategic new site at 340a Clapham Road, SW9, situated between Stockwell and Clapham North. The site represents Regal London’s and KKR’s first development through their joint venture. Upon completion, the total GDV of the scheme is expected to be in the region of £50million.

The brownfield site (formerly a tool hire depot), will become a vibrant mixed use, residential-led development, set to total 94,740 sq ft (GIA). It will deliver 62 one, two and three bedroom apartments – 12 of which will be available for Shared Ownership – spread over nine floors. The ground and lower ground floors will comprise approximately 18,250 ft² (GIA) of flexible B1/A1 commercial space. Planning permission was granted in June 2017 following a collaborative working relationship with the London Borough of Lambeth.

With a high quality and contemporary design, both of which are hallmarks of every Regal London scheme, the development will complement the surrounding streetscape of new build and period properties. Every apartment will benefit from a private balcony, while residents will also have access to communal gardens and a roof terrace.

An established network of transport links is within easy reach of the development, with Stockwell Underground Station just 0.2miles away, as well as Clapham North Underground Station and Clapham High Street Overground Station both within a short walk.

A thriving social and leisure scene is also nearby, led by the bars, pubs, restaurants and cafes, as well as a selection of amenities, in situ along the lively Clapham High Street and its surrounds.

Simon De Friend, CEO, Regal London, comments:

“Ensuring that our sites are attached to wider areas of investment and regeneration is fundamental to our development strategy. 340a Clapham Road has the necessary infrastructure to support a thriving community. With the character and amenities of both Clapham High Street and Stockwell just a stone’s throw away, it is set to be a sought-after proposition for first time buyers and young professionals alike.”

Guillaume Cassou, Member and Head of European Real Estate at KKR, adds:

“We are excited about our first transaction with Regal London, which comes at a time when London continues to require attractive and affordable housing, and builds on our strong track record of working with leading developers in markets around Europe.”

Christopher Shaw, CEO, Shaw Corporation Limited, comments:

“Shaw Corporation Limited acting for the landowner, David Pearl’s Totsbridge Limited, secured planning permission for the redevelopment of this strategic site in June 2017 having worked collaboratively with the London Borough of Lambeth to achieve agreement on the mixed use proposals.  We are delighted that Regal London and its joint venture partner, KKR, will take this development forward and deliver our collective vision that completes the regeneration of this part of Clapham Road, providing new high quality homes, including much needed affordable homes, and flexible workspace.”

Work is set to begin on site at 340a Clapham Road in H1 2019. Completions are expected to be from late 2021.

KKR’s investment is being made through its Real Estate Partners Europe fund.

Media contacts

For Regal London:
Tahlie Cooper
Edelman
Email: tahlie.cooper@edelman.com
Tel: 020 3047 4158

For KKR:
Alastair Elwen
Finsbury
Email: Alastair.elwen@finsbury.com
Tel: 0207 251 3801

About Regal London
Regal London is a privately held property development firm which has been delivering outstanding mixed used developments in the London market since 1998. The company has over 475,000 sq ft of high quality commercial space completed and underway, as well as 3,250 residential units, ranging from eight-bedroom luxury houses to chic city apartments, all of which have Regal London’s hallmark of quality, with superior specifications and customer service.

About KKR
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Categories: News

Tags:

ARDIAN and PRELIOS SGR complete the sale of two office buildings in central Milan

Ardian
Milan, 15 October 2018 – Ardian, a world-leading private investment house, together with Prelios SGR S.p.A. today announces the sale of two office buildings in central Milan to a foreign institutional investor.
AREEF 1 – SICAF S.p.A., a company managed by Prelios SGR S.p.A. and fully subscribed by Ardian Real Estate European Fund SCS (AREEF I) managed by Ardian, sold the two core buildings located in Via Giorgio Washington 70 and Corso Italia 13, with a total rental area of ca. 23.500 square meters.The assets were part of the Mirò transaction executed in March 2017. This was followed by an intensive value creation program to renovate the buildings and reduce vacancy in line with Ardian Real Estate’s strategy.
For this transaction, Ardian and Prelios SGR were advised by GVA Redilco (real estate advisor) and Chiomenti (Legal advisor).

Andrea Cornetti, General Manager at Prelios SGR, said: “The transaction is in line with Prelios SGR’s strategy and delivers excellent returns. We want to emphasize the success of the value creation strategy which vastly improved the two building’s rental profile and quality. The sale confirms the continued interest of international investors in the Italian property market and recognizes Prelios SGR as a trusted manager of property funds and alternative vehicles like SICAFs.”

Rodolfo Petrosino, Managing Director for Southern Europe at Ardian Real Estate, added: “This is a great achievement and confirms the strength of our investment approach for Ardian’s first Real Estate fund. We believe commercial real estate in Italy offers strong growth opportunities for our investors and we intend to continue our focus on core plus-value added asset class primarily in Milan and Rome, two of the most interesting cities for real estate investment in Europe.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$72bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.

Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 530 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 750 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT PRELIOS SGR

Prelios SGR is part of the Prelios Group. With assets under management for 4.1 billion Euro and 32 funds (as of December 31, 2017), Prelios SGR is one of Italy’s leading real estate asset managers. It operates primarily in setting up and managing real estate funds alongside more than 180 Italian and international institutional professional investors.

The Prelios Group is the gateway to Italy’s asset management, credit servicing and integrated real estate services market. The Chair of the Prelios Group is Fabrizio Palenzona. The CEO is Riccardo Serrini.

The Prelios Group moved to its new HQ in Via Valtellina, Milan, in May 2018, and employs around 450 people in Italy and Europe – of whom more than 300 in its Milanese offices. It is one of the leading Italian and European players in alternative asset management and specialized property services, with assets under management for a total of more than 30 billion Euro.

Follow Prelios on Twitter @Prelios and on Linkedin linkedin.com/company/prelios-spa/

www.prelios.com
PRESS CONTACTS
ARDIAN
Headland
Carl Leijonhufvud
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827
PRELIOS GROUP PRESS OFFICE
+39 02 6281.4176/4826/33628 – pressoffice@prelios.com
Community Strategic Communications Advisers
+39 02 89404231 – prelios@communitygroup.it

Categories: News

Tags: