Tag Archives: Real estate

Ardian Real Estate and Prelios SGR set-up the first Italian multi-compartment and externally managed Real Estate SICAF, authorized by Bank of Italy

Ardian

The new SICAF is fully operative and has already acquired an office building in Milan from Sator Immobiliare SGR

Milan, August 1st, 2019 – Ardian, a world-leading private investment house, together with Prelios SGR, announce that they have set-up a new multi-compartment and externally managed fixed-capital investment company (“SICAF”), the first one authorized by Bank of Italy. The new SICAF is entirely owned by an investment fund managed by Ardian and managed by Prelios SGR S.p.A.

The SICAF has already acquired from Sator Immobiliare SGR an office building located in via Roncaglia 12 – 14, in the south-west central part of Milan.

Built in the 1960s, the property covers around 9,300 sqm of gross area. The building is in a sought-after district in close proximity to the new CityLife business district, with excellent public transport links to the city centre. The building will be completely renovated, delivering to the market a Grade A product in line to the latest international construction, health and energy standards.

Rodolfo Petrosino, Managing Director at Ardian Real Estate, said: “The launch of this second real estate SICAF is the result of a partnership with a major operator such as Prelios with whom we are working in synergy. It is a new investment tool that we are the first to offer our investors and thanks to which we can continue to select the best opportunities in the core plus-value added segment on the market, as demonstrated by the recent acquisition of the real estate property of via Roncaglia 12 – 14. This construction project is an ideal addition to our existing portfolio in Italy. Given the property’s proximity to the new business district CityLife, and excellent transport links to the city centre, we expect demand for office space in this area to continue to grow. With its thriving and diverse corporate landscape, Milan is a key market for Ardian Real Estate as we continue to acquire and develop attractive properties in core European cities.”

“The new SICAF is the second one set up by Ardian and managed by Prelios SGR, and the first externally managed multi-sector real estate SICAF in Italy” adds Andrea Cornetti, General Manager of Prelios SGR. “This initiative strengthens the relationship with Ardian, one of the main players in the European market. With this transaction, Prelios SGR confirms its pioneering role in the range of investment products managed, and its leadership in the management of innovative products dedicated to leading institutional investors”.

The investment was completed with the support of GVA Redilco as commercial advisor, Gattai, Minoli, Agostinelli, Partners for the administrative due diligence and REAAS for the technical and environmental due diligence. Chiomenti, with a multi-disciplinary team coordinated by its partner Umberto Borzi, assisted Ardian in the process of authorising and setting up of the SICAF, as well as Prelios SGR in the first investment.

With this acquisition Ardian Real Estate’s owns seven properties in Italy and two in Milan, following its sale of two buildings in Via Giorgio Washington 70 and Corso Italia 13 in October 2018.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 610 employees working from fifteen 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 and Seoul). It manages funds on behalf of around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT PRELIOS SGR

Prelios SGR is the management company of the Prelios Group. Among the main Italian real estate SGRs, it is active in the promotion and management of investment funds and separate accounts, in advisory services to support the main national and international investors in defining and implementing the best investment and management strategies in the real estate sector throughout Italy. In December 2018, the company managed assets of approximately Euro 4.4 billion for 34 funds, including two multi-sector compartment funds, a SICAF and four separate accounts.
www.prelios.com

PRESS CONTACT

ARDIAN
HEADLAND CONSULTANCY
Victoria Nelmes
vnelmes@headlandconsultancy.com
Tel: +44 20 3435 7478

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KKR Acquires Salesforce Tower in Atlanta

KKR

New Investment Underscores Commitment to Sunbelt Growth

NEW YORK–(BUSINESS WIRE)–Aug. 1, 2019– KKR, a leading global investment firm, today announced that it has acquired Salesforce Tower in Atlanta. KKR made the acquisition together with Banyan Street Capital in a joint venture valued at $205 million.

Salesforce Tower is a 631,808 square foot, 34 story, Class A office tower located in Atlanta’s Buckhead submarket, one of the Southeast’s strongest and most desirable office submarkets. Salesforce Tower recently underwent $14 million of upgrades and renovations. Major tenants include the regional hub for Salesforce.com and the corporate headquarters for RentPath and Rubicon Global. Salesforce Tower offers immediate public transportation accessibility as it sits directly on the MARTA line and interstate system.

KKR and Banyan Street Capital are planning an additional $5 million in capital improvements which will address enhancements to the fitness center, retail concourse, outdoor plaza and tenant elevator landings and corridors.

“We’re long term believers in the Atlanta growth story,” said Roger Morales, KKR Member and Head of Commercial Real Estate Acquisitions in the Americas. “We believe Atlanta’s young and educated workforce and affordable cost of doing business will lead to continued outsized performance, particularly in infill, highly amenitized, increasingly 24-hour submarkets like Buckhead.”

Salesforce Tower is positioned to benefit from nearly 1,500 new urban, upscale residential units in Buckhead as well as a new six-acre park and Nobu Hotel. Buckhead continues to draw big-name tech tenants including Amazon and Fleetcor Technologies, which recently announced the relocation of its headquarters into the submarket.

KKR’s partner on the transaction, Banyan Street Capital, was already invested in the asset with a prior partner. “We are delighted to partner with KKR in the next chapter of this iconic tower’s history,” said Rudy Touzet, Founder and CEO of Banyan Street Capital. “We continue to believe in Atlanta’s momentum and the dynamic ecosystem of the Buckhead office market. Ongoing improvements to the tower will further solidify its position as a top tier destination for talent in Buckhead and across Atlanta.”

A CBRE team of Chris Port, Nicole Goldsmith and Kyle Kenyon have been retained to lease the tower. Banyan Street Capital will manage the property directly.

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

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.

About Banyan Street Capital

Banyan Street Capital is a premier owner and operator of office buildings in the eastern United States. As a full-service, vertically-integrated real estate investment firm, Banyan Street Capital always seeks to add value and deliver attractive risk-adjusted returns to its investors. With its headquarters in Miami, Florida, and regional offices in New York, Atlanta, Boston and Jacksonville, Florida, as of June 30, 2019, Banyan Street Capital owned and managed a portfolio of over 13 million square feet, with an estimated value of over $3 billion.

Source: KKR

Kristi Huller or Cara Major
212-750-8300
media@kkr.com

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EQT Real Estate acquires 21-asset urban logistics portfolio in Sweden

eqt

  • EQT Real Estate acquires a 21-asset portfolio of urban logistics properties in Stockholm and surrounding university cities in an off-market process
  • The 85,000 sqm portfolio is well diversified and offers value creation potential through lease re-gears, light CAPEX and energy optimization programs
  • This investment will be EQT Real Estate’s 12th to date and fourth in Sweden

EQT Real Estate continues to invest in the dynamic urban logistics sector via the proprietary acquisition of 21 properties with a lettable area of 85,000 sqm. The seller is Kvalitena AB (publ), which will retain a minority stake, will continue to asset manage the properties and will look to grow the portfolio together with EQT.

The properties are located in established industrial zones close to the city centers of Stockholm and six university cities in central Sweden with attractive demographic and economic growth prospects. The Fund’s target is to continue acquiring assets with the same potential of rent reversion and conversion to modern, flexible space.

Henrik Orrbeck, Managing Director at EQT Partners and Investment Advisor to EQT Real Estate, says: “The portfolio very well accentuates the focus of EQT Real Estate – buying and building real estate portfolios around selective investment themes and transforming them to high-quality platforms offering long-term risk-adjusted returns to institutional investors. EQT has a detailed plan for each property and looks forward to launching these initiatives together with Kvalitena”.

Robert Rackind, Partner and Head of Real Estate at EQT Partners, Investment Advisor to EQT Real Estate, continues: “This off-market transaction represents a rare opportunity to build a platform around the supply-constraint urban logistics sector with an experienced partner. The acquisition is in line with EQT Real Estate’s strategy to future-proof cities by providing flexible warehouse space to expansive e-commerce, distribution and exportation-driven industrial firms.”

The transaction closed on 5 July 2019.

EQT Real Estate was advised on the acquisition by Linklaters, Wigge & Partners, ÅF Consulting, Svalner and Amblin.

Contact
Henrik Orrbeck, Managing Director at EQT Partners, Investment Advisor to EQT Real Estate, +46 8 506 553 27
Robert Rackind, Partner and Head of Real Estate at EQT Partners, Investment Advisor to EQT Real Estate, +44 207 430 5550
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

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AnaCap makes credit investments in two prime Italian real estate opportunities

Anacap

AnaCap Financial Partners (“AnaCap”), a leading specialist European financial services private equity firm and active investor in the Italian market, today announces the recent completion of credit investments in two prime real estate opportunities located in Rome.

The opportunities include the acquisition and refurbishment of an existing rented office building in semi-central Rome and a prime residential development located on the top of Monte Mario Hill, with panoramic views over the city. A severe lack of Grade A office space characterises semi-central Rome, with take up increasing since 2014 (74% of take up in H12018 was in Grade A buildings). Similarly, in the residential market, there is a lack of supply of more modern, higher grade properties. House prices for new versus older properties are diverging, with prices for new properties remaining at pre-crisis levels. The residential development is located in an area of Rome where there has been no new construction in the past decade and buildable plots of land are extremely rare.

AnaCap is partnering with Green Stone, a regulated Italian real estate company, for both projects. Green Stone and its founder have a combined local track record extending over 15 years encompassing more than 30 comparable projects, focused on the mid to high end residential, office and retail markets.

The Italian market has been core to AnaCap since 2012, completing investments in every year since, now extending to over €13bn face value across 18 separate transactions, including a wide range of performing and non-performing asset types.

Jacqueline Li, Investment Director at AnaCap Financial Partners LLP, commented: “The opportunity to partner with Green Stone in these prime developments in central parts of Rome exemplifies AnaCap’s ability to extend our long track record in Italy in primarily distressed non-performing loan portfolios, much of which is secured by real estate, to attractive transactions like these where funding remains constrained.”

The investment was made by AnaCap Credit Opportunities Fund III.

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Ardian Real Estate acquires office bulding “3 HÖFE WORK” in Berlin from LBBW

Ardian

Third investment in Berlin underscores importance of the German real estate market in Ardian Real Estate’s investment strategy

Frankfurt am Main/Berlin, May 23, 2019 – Ardian, a world-leading private investment house, has finalized an agreement with LBBW Immobilien Development GmbH to acquire the office project “3 Höfe work”, which is currently under construction, at Lützowstrasse 107-112 in central Berlin. Financial details of the transaction will not be disclosed.

Located in close proximity to Potsdamer Platz and the City Park at Gleisdreieck, the property will have around 18,000 sqm of rental space in one of Berlin’s most sought-after office locations. The property is the third investment by Ardian Real Estate in Berlin.

The office complex is expected to be completed in the third quarter of 2021. It will have seven stories and an underground car park with 52 parking spaces. The modern architecture offers attractive and flexible floor space options – allowing for a variety of room concepts – as well as high quality fixtures and fittings. The property is well-served by public transport and is within walking distance of Gleisdreieck underground station. With an area of 4,500 sqm, the property will comprise four development units with two main entrances and around 2,500 sqm of rental space per floor.

Bernd Haggenmüller, Managing Director, Ardian Real Estate, said: “The construction project “3 Höfe work” is an ideal addition to our existing property portfolio in Berlin. With the property at Lützowstrasse 105-106, we have just recently in December 2018 acquired a property in direct vicinity to our new investment, underscoring the attractiveness of the Gleisdreieck location. We anticipate continued high demand for office space in central Berlin and, combined with low vacancies, we expect further dynamic rental and value growth potential for modern and attractive properties. Berlin is known for its thriving and diverse corporate landscape and is therefore a core market for Ardian Real Estate, which acquires and develops attractive core-plus and value-add properties in key European cities.”

Other investments made so far by Ardian Real Estate in Germany include office complexes in Berlin (Spichernstrasse and Lützowstrasse), as well as the Konrad and Heinemann Bogen office complexes in Munich. Several months after acquiring the first two properties in Berlin, Ardian achieved considerable success with their subsequent leasing activity.

Acquired in September 2018, the office building on Spichernstrasse 2 in Berlin City-West – which possesses a rental space of 12,600 sqm – has now been fully leased following a quarter of leases in the area having expired at the end of 2018. The office complex at Lützowstrasse 105-106 is also experiencing high demand for rental space. The building has a rental space of approximately 30,000 sqm, and currently has an occupancy rate of more than 90 percent. With its proven rental expertise, Ardian will also look to promote “3 Höfe work”’s attractive office location.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$ 90bn 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 600 employees working from fifteen 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 and Seoul). It manages funds on behalf of around 880 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Ardian on Twitter @Ardian
www.ardian.com

COMPANIES INVOLVED IN THE TRANSACTION

On the buyer’s side, Herbert Smith Freehills, REC and taxess acted in an advisory capacity during the transaction. P+P Pöllath + Partners and BNP Paribas. The debt financing for the transaction was provided by pbb Deutsche Pfandbriefbank.

PRESS CONTACT

CHARLES BARKER
Peter Steiner
peter.steiner@charlesbarker.de
Tel: +49 69 79409027
Jan P. Sefrin
Tel: +49 69 79409026

 

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KKR Grows Real Estate Industrial Portfolio with Acquisition of New Industrial Buildings

KKR

New Investments Increase Portfolio to More than Seven Million Square Feet

NEW YORK–(BUSINESS WIRE)–May 13, 2019– KKR, a leading global investment firm, today announced the acquisition of two Class A industrial distribution buildings totaling 928,270 square feet. The assets are part of KKR’s Alpha Industrial Properties portfolio, a seven million square foot portfolio across eight high-growth markets in the U.S.

The buildings are located in Inland Empire, California, and in Lakeland, Florida, important national distribution nodes for a variety of tenants serving two of the fastest growing regions in the U.S.: the Southeast and the West. The properties were both recently completed and acquired directly from their respective developers.

“We are excited to add these buildings to our growing industrial portfolio and to be making our second acquisition in both Inland Empire and Central Florida, two very attractive markets for us given strong industrial supply-demand fundamentals,” said Roger Morales, KKR Member and Head of Commercial Real Estate Acquisitions in the Americas.

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

Since launching a dedicated real estate platform in 2011, KKR has invested or committed over $7 billion in capital across approximately 200 real estate transactions in the U.S., Europe and Asia as of March 31, 2019. The global real estate team consists of over 70 dedicated investment professionals, spanning both the equity and credit businesses.

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 & Co. Inc.

Kristi Huller or Cara Major
212-750-8300
media@kkr.com

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Gaw Capital Partners Announces Equity Investment in Series C Financing for Tencent Trusted Doctors

Gaw Capital

April 29, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners announced today that a fund under its management has invested in the new round of financing for Tencent Trusted Doctors, a leading online-offline medical service provider in China combining online doctor-to-patient services with offline facilities.
Tencent Trusted Doctors currently connects 440,000 licensed physicians with 10 million patients on its platform. The online platform is supported by comprehensive brick-and-mortar facilities, with 50 physical clinics and outpatient surgery centers and over 1,000 health kiosks in operation. It aims to solve China’s healthcare pain points by providing an offline diagnosis and referral network, connecting online and offline medical services.
Gaw Capital Partners, having been a long-term strategic partner of Tencent Doctorwork prior to the merger, will continue to support Tencent Trusted Doctors’ expansion of its clinics and day surgery centers across Greater China by looking for suitable locations for leasing, introducing strategic partners, and setting up an asset-backed platform to acquire properties for specialists’ clinics or medical offices.
Tencent Trusted Doctors was founded after the merger between Tencent Doctorwork and Trusted Doctor in August 2018. Tencent Trusted Doctors seeks to provide one-stop solutions for patients via its offline and online platforms, creating China’s largest medical service platform that offers high-quality, personalized and affordable medical and healthcare services. The founders and the management team have a thorough understanding of the online medical service market and extensive experience in managing physical medical treatment facilities. The previous merger of Tencent Doctorwork and Trusted Doctors has created an important combination of knowledge and experience in scaling companies in China.
By 2021, Tencent Trusted Doctors plans to open over 500 clinics and day surgery centers. It is projected that one million practicing physicians will use the Tencent Trusted Doctors platform.
Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said, “Gaw Capital Partners is delighted to invest in this exceptional new economy investment opportunity by not only providing capital but also our integrated resources in sourcing suitable vacant spaces that meet the needs of Tencent Trusted Doctors’ medical business, and help set up health kiosks and health centers to support Tencent Trusted Doctors’ offline expansion plan.”
This latest investment follows the recent decision by the Chinese government to roll out and standardize a series of supportive policies for Internet-related medical care and social medical services in order to open up the healthcare market to the private sector. The policies aim to eliminate the imbalance in how medical resources are used, ease the heavy burden of public hospitals in China, and build a regional healthcare information platform that integrates medical data and resources.
Gaw Capital has over 13 years of experience investing in and 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, and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.

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Gaw Capital Partners and Beyond Ventures Announce Equity Investment in Series A Round Financing for Candao.com

Gaw Capital

April 18, 2019, Shanghai – Real estate private equity firm Gaw Capital Partners, through the private equity fund of its operation company, together with Hong Kong-based venture capital fund Beyond Ventures, today announced an equity investment in the Series A round fund-raising totalling RMB100 million (US$14.9 million) for Candao.com, a Chinese start-up specialising in food delivery management service. Chinese mobile internet-focused investment fund MFund also participated in this round of fund-raising.
Founded in April 2014, Candao.com is managed by Guangzhou Candao Information Technology Co Ltd. The company provides one-stop solutions for Chinese medium and large-sized chain restaurants, including SaaS delivery management systems, distribution systems, and business data analysis centers.
As of March 2019, Guangzhou–based Candao.com has served over 200 medium and large-sized chain restaurant brands, including Haagen-Dazs, Burger King, Papa Johns and Costa. The company currently provides services to nearly 30,000 offline restaurants across more than 300 cities in China, with over RMB1.4 billion (US$209 million) in monthly gross merchandise volume.
Proceeds of this fund-raising will be used to strengthen the research and development of the company’s systems and explore applications of technologies such as artificial intelligence (AI).
Humbert Pang, Managing Principal and Head of China for Gaw Capital Partners, said, “Gaw Capital continues to embrace and support the technology platforms that will enhance the operational efficiency, especially those operators related to real estate sector. The food delivery sector is booming in China and has become part of most people’s daily life. However, many F&B operators are still lagging behind on the resources to deal with the new technology ecosystem, which makes Candao an ideal easy one-stop platform for them.”
Beyond Ventures was founded in 2017 by Hony Capital, Hong Kong-based venture capital fund e-Garden Ventures in partnership with locally-grown serial entrepreneurs. It has invested a total of RMB240 million (US$35.88 million) in 13 companies including Chinese AI unicorn SenseTime, DNA Testing company Prenetics, CMOS chip maker SmartSens Tech, Hong Kong taxi-hailing app HKTaxi, and Hong Kong Online to Offline e-commerce platform YOHO.
Gaw Capital has over 13 years of experience investing in and/or turning around commercial properties in Greater China, including Hong Kong. The firm successfully transformed and repositioned properties such as 133 Wai Yip Street in Hong Kong, a former 12-storey industrial building turned creative office space; and Sky Bridge HQ, a mixed-use project located in the heart of Linkong Economic Park in Shanghai. In recent years, the firm also purchased 29 local Hong Kong shopping malls from Link REIT, which it intends to reposition and revitalize into attractive hubs of community life.
– End –
About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company that focusing on real estate markets in greater China and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with own in-house asset management operating platforms in retail, hospitality, property development and logistics. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, hospitality and logistics warehouses.
Gaw Capital has raised five commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in Vietnam and the US, a Pan-Asia hospitality fund, a European hospitality fund and also provides services for separate account direct investments globally.
Gaw Capital has raised equity of USD$ 11.4 billion since 2005 and commands assets of USD$ 18.2 billion under management as of Q4 2018.
Contacts:
Gaw Capital Partners
Camille Lam
Tel: +852 2583 7717/+852 9884 9198
Email: camillelam@gawcapital.com
www.gawcapital.com
Citigate Dewe Rogerson
Ryan Mellor
Tel: +852 3103 0130/+852 5315 2737
Email: ryan.mellor@citigatedewerogerson.com

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TPG Real Estate Partners and Contera Form a Strategic Venture

TPG Capital

Partnership  brings together complementary capabilities to pursue industrial real estate  investment opportunities and development projects in Central Europe

San  Francisco, London, and Prague – April 17, 2019 – TPG Real  Estate Partners (“TREP”), the dedicated real estate equity investment platform  of global alternative asset firm TPG, and Contera, an established developer and  operator of industrial parks in the Czech Republic, announced today they have formed  a strategic venture (the “Venture”). The Venture will seek to acquire and  develop industrial projects in Central Europe, primarily in the Czech Republic  and Slovakia. One of the Venture’s first projects is a 140,000 sqm industrial  zone directly adjacent to the D1 highway in Ostrava-Hrušov.

In connection with the formation of the Venture, TREP has acquired  certain assets from Contera, including the company’s industrial parks in  Teplice and Ostrava, in a transaction valued at more than 90 million EUR.  Contera will continue to operate and manage these assets, as well as the assets  acquired and developed through the Venture. Contera will also continue to  independently own and manage the remainder of its portfolio, which includes approximately  110,000 sqm of industrial property.

“In forming the Venture, we are partnering with a highly experienced  and proven local team to pursue opportunities in a region and sector that  continue to experience strong growth trends,” said Michiel Celis of TREP. “We  look forward to making this a successful, long-term partnership and hope to invest  significantly more capital as we source new projects and execute on an exciting  pipeline of opportunities.”

“After 10 years of growing  Contera independently, thanks to this partnership with a strong global  investor, we can start a new era in the development of our company,” said Tomáš  Jirků, Co-Founder and CEO of  Contera. Dušan Kastl, Co-Founder and Managing Director of Contera, added, “Our  partnership with TREP will allow us to expand significantly and reach strategic  scale in the Czech and Slovak markets.”

TREP has a history of developing strategic partnerships with  high-quality management teams and operators to capitalize on compelling market  opportunities. Select current and past investments include A&O Hotels and  Hostels, Arlington Business Parks, Evergreen Industrial Properties, Icon  Industrial, P3 Logistic Parks, and TriGranit.

Founded in 2009, Contera develops, owns, and operates industrial  business parks in prime locations in the Czech Republic. Contera’s full-service  business model provides clients with leasing options within its portfolio, as  well as customized, build-to-suit solutions. The company also specializes in  the redevelopment and revitalization of brownfield properties in well-connected  locations. This year, Contera celebrates its 10th anniversary.

Cushman & Wakefield served as an advisor to Contera for this  transaction.

About TPG  Real Estate
TPG Real Estate (“TPGRE”) is the real estate platform of  TPG, a leading global alternative asset firm with more than $104 billion of  assets under management and 17 offices around the world. TPGRE includes TPG  Real Estate Partners (“TREP”), its equity investment platform, and TPG Real Estate  Finance Trust (NYSE: “TRTX”), its debt origination and acquisition platform.  TREP focuses primarily on investments in real estate-rich companies, property  portfolios, and select single assets located in North America and Europe. TRTX  originates and acquires senior real estate loans across a broad spectrum of  asset classes in North America. TPGRE currently manages approximately $10.8  billion in assets across both platforms. For more information please visit www.tpg.com.

About  Contera
Founded in 2009 by experienced professionals in the field of  property development, project and construction management, Contera owns and  operates industrial parks in major locations in the Czech Republic. Most  buildings in these parks have been completed and leased to leading Czech and  international companies, mainly in the logistics and manufacturing sectors. For  more information www.contera.cz

Media Contacts
Contera
Erika Straškrabová
+420 732 915 226
erika.straskrabova@contera.cz

TPG
US
Luke Barrett
415-743-1550
media@tpg.com

Europe
Alex Jones
+44 207 952 2000
tpg@greenbrookpr.com

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HQ Capital Real Estate’s Investment and Sales Activity Nearly $1 Billion in 2018

HQ Capital

[New York, NY / Bad Homburg, 9 April 2019]. HQ Capital, a leading independent manager of alternative investments, announces $840 million of real estate activity in 2018. Over the past year, the firm invested in eight multifamily investments throughout the U.S. in Arizona, California, Colorado, Georgia, Massachusetts, Tennessee and Texas, representing nearly 1,800 units with total project costs of $410 million.

 

“We experienced strong rental apartment demand, driven by healthy job gains last year,” said Justin Sorem, Vice President of Real Estate Asset Management at HQ Capital. “In the coming year, we expect to see this absorption continue, which will position our projects for further successful sales to apartment buyers.”

Beyond its investments, HQ Capital sold 11 residential and commercial properties valued at approximately $430 million and representing more than 2,300 apartment units and 360,000 square feet of commercial space throughout the U.S. The properties, which were sold to various institutional and private investors, were located in Growth markets primarily in the Southern and Western regions of the U.S.

“In 2018, we continued to successfully invest in and sell U.S. multifamily properties,” said Jeremy Katz, Co-Head of Real Estate at HQ Capital. “We are benefiting from a highly active sales market in which institutional investors seeking nonvolatile current returns are attracted to the core product we are delivering.”

In addition to its investment and sales activity, HQ Capital added a 68,000-square foot office building in Washington, D.C. to its third-party asset management portfolio.

The company expects to continue its current level of business activity in 2019.

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