Transactions | Aug 10, 2020 Real IS acquires logistics property in Germany by Released Real IS AG has acquired the Karlsruhe Sud logistics property in Durmersheim, Germany, for a group of institutional investors.
Transactions | Aug 10, 2020 LOGOS JV buys two distribution centers by Andrea Zander LOGOS and its partner TCorp, the New South Wales state government’s investment and financial management arm, has acquired two distribution centers in Kemps Creek, NSW and Berrinbal, Queensland, Australia, reported media outlets.
Research | Aug 10, 2020 Second quarter fundraising tops $40 billion by Larry Gray Well, the pandemic did not have any ill effects on the fundraising total registered during second quarter.
Research | Aug 10, 2020 Central London office leasing declines by 57 percent in Q2 2020 by Released According to proprietary research by DeVono Cresa (DC), the second quarter 2020 saw 1.2 million square feet of office space leased across central London, a drop of 57 percent on the previous quarter. With the market feeling the full effects of the COVID-19 lockdown, demand, availability and rents in central London all trended as predicted, but with the pace somewhat subdued.
Transactions | Aug 10, 2020 Skanska invests €65m in Budapest office complex by Released Skanska has invested €65 million ($76 million) in the first phase of the new office complex H2Offices located in Budapest, Hungary.
Research | Aug 10, 2020 Commercial real estate lending eases in Q2 2020 as underwriting turns conservative by Released Commercial real estate mortgage markets navigated a difficult period in the second quarter 2020 following the onset of COVID-19, as lenders were selective in their deal and property type choices, according to CBRE.
Fundraising | Aug 10, 2020 Harbert United States Real Estate Fund VII collects nearly $350m by Kali Persall IREI has learned that Harbert United States Real Estate Fund VII, a value-add real estate fund managed by Alabama-based Harbert Management Corp. (HMC), has secured $347 million in equity commitments, including a $50 million investment from Teachers’ Retirement System of Louisiana.
Transactions | Aug 10, 2020 Hillview Real Estate acquires U.K. office campus on behalf of latest property fund by Kali Persall United Kingdom–based Hillview Real Estate has acquired an office campus on the edge of Birmingham on behalf of its £300 million ($391 million) value-add Hillview Partners Property Fund III.
Research | Aug 7, 2020 Dodge Momentum Index climbs during month of July by Kali Persall The Dodge Momentum Index, a monthly measure of the initial report for nonresidential building projects in planning, issued by Dodge Data & Analytics, bumped up 3.4 percent in July from 124.7 from from the revised June reading of 120.5.
Research | Aug 7, 2020 U.S. hotel performance shows higher occupancy and room rates from previous week by Released U.S. hotel occupancy declined 34.5 percent year-over-year to 48.9 percent during the week of July 26 to Aug. 1. Average daily rate (ADR) fell 25.3 percent to $100.04 and revenue per available room (RevPAR) dropped 51.1 percent to $48.96.
Investors | Aug 7, 2020 Oklahoma Teachers puts noncore real estate manager search on hold by Kali Persall The Teachers’ Retirement System (TRS) of Oklahoma has decided to suspend its current selection of finalists for its open-end noncore real estate RFP until later in the year, according to a report from the system’s July 22 board meeting.
Transactions | Aug 7, 2020 Green light for $9b Can Gio Tourist City development in Vietnam by Andrea Zander The Vietnamese government has approved the $9.3 billion Can Gio Tourist City project, a residential and tourism development, located in the Can Gio Mangrove Biosphere Reserve, the country’s largest and most populous area, which is currently occupied by 13 million residents.
Research | Aug 7, 2020 Prime residential markets react to changes in lifestyles and economic conditions by Andrea Zander Prime residential city markets around the world tend to prove more resilient than the wider mainstream market, although much still depends on the economic situation, which is only now materializing in a lot of cities, according to Savills.
Investors | Aug 7, 2020 Illinois TRS executive director vacates position by Kali Persall The $51.2 billion Teachers’ Retirement System of the State of Illinois (ITRS) said on Aug. 6 that it unanimously voted to place executive director Richard Ingram on administrative leave due to performance issues covered by his employment contract.
Research | Aug 7, 2020 U.S. economy recovers 1.8 million jobs in July, slower than June gains by Loretta Clodfelter The economic recovery from the COVID-19 pandemic slowed in July.
Transactions | Aug 7, 2020 Hammerson sells 50% stake in VIA Outlets by Andrea Zander Dutch pensions manager APG said Thursday that it has agreed to purchase U.K. real estate company Hammerson’s remaining 50 percent stake in their joint venture investment fund VIA Outlets for €301 million ($356 million), giving APG a majority stake.
Transactions | Aug 7, 2020 Hines breaks ground on master-planned community in North Texas by Released Hines has announced the commencement of construction of Wildflower Ranch, a new residential community located north of Fort Worth.
Transactions | Aug 7, 2020 Shwe Taung Real Estate Co. forms JV to develop shopping malls in Myanmar by Released Shwe Taung Real Estate Co. has entered into a joint venture with Japan’s AEON MALL Co. to invest, develop, manage and operate large-scale shopping malls in Yangon, Myanmar.
Transactions | Aug 7, 2020 Kansas City Area Development Council approves $350m ecommerce center by Released The Kansas City Area Development Council (KCADC) and its partners have approved a $350 million ecommerce center for retailer Urban Outfitters.
Research | Aug 7, 2020 Q2 multifamily demand falls due to COVID-19 economic downturn by Andrea Zander Usually the strongest quarter of the year for multifamily demand, second quarter 2020 saw net absorption fall to just 21,100 units — the lowest second quarter level since 2009, reported CBRE.
