Virna Asara

1 week ago | realassets.ipe.com | Virna Asara

Romanian developer Iulius and investor Atterbury Europe have secured the largest financing ever granted to a real estate development in Romania, having received a €400m loan for the Rivus Cluj-Napoca mixed-use urban redevelopment project. The green financing was provided by a consortium of Erste Bank, Banca Comercială Română, the EBRD and BRD Groupe Société Générale. The Rivus project plans to redevelop 14ha of a former industrial site into retail, office, culture and entertainment space.

2 weeks ago | realassets.ipe.com | Virna Asara

Global real estate manager Hines has inked the sale of a mixed retail and office complex in Italy to the family office of Japanese billionaire Tadashi Yanai, founder and chief executive of Uniqlo operator Fast Retailing. The sale of the Cordusio 2.0 asset for more than €300m is said to represent a record low yield for Milan prime offices of 3.5%. The historic building is in Milan’s central Piazza Cordusio, where Uniqlo’s flagship store has been since 2019.

3 weeks ago | realassets.ipe.com | Virna Asara

The deal – Gecina’s first large office investment in several years – sees the landlord take control of 32,200sqm of largely vacant office space at 19-23, rue de Vienne and 38-46, rue du Rocher, also known as Le Solstys. The complex was put on the market in 2023 by its owner, the Deka Immobilien Europa open-ended fund, which in turn had bought it in 2011 for €330m from developer and former tenant Nexity.

3 weeks ago | realassets.ipe.com | Virna Asara

European property values rose 0.8% in the first three months of the year in the third consecutive quarter of growth following nearly two years of consistent value declines, new data from Altus Group shows. As central banks cautiously begin to lower interest rates, property yields — which had been rising for the past two and a half years— have started to decline.

1 month ago | realassets.ipe.com | Virna Asara

Advisor CBRE has been mandated to test market appetite for the sale of the Nestar build-to-rent platform in Spain. The Nestar portfolio, which includes over 9,500 homes largely located in the Madrid municipality, could fetch up to €1.8bn for its owners, CBRE IM, Madison International Realty, NN Group and Azora Capital. First launched in 2004 by Azora, the platform saw the entry of CBRE IM as a majority investor back in 2018 and announced a major expansion programme in 2022.