CapMan Real Estate’s Red Warehouse is completed, welcoming BCG Denmark into their new distinctive office space


CapMan Real Estate’s Red Warehouse is completed, welcoming BCG Denmark into their new distinctive office space

CapMan Real Estate has finalised the rebuild of Red Warehouse, transforming the 140-year-old building from warehouse and workshop to modern distinctive office space. The buildings sole tenant, Boston Consulting Group Denmark (BCG), who has been a vital partner throughout the rebuild, started their move-in process on 1st September.

The finalized space plays homage to the building’s history, showcasing state-of-the-art interior design which successfully combines the qualities of the original building from 1883 and merges them with new design solutions that ensure a unique design. The office space covers 6,000 sqm over three floors in addition to a basement space of 4,600 sqm which was converted to hold a gym as well as well as a large TED-like audience presentation room. The building is topped off by a 700m2 rooftop terrace and bar with space to do outside sport with views across the city.

The project has been in progress since 2019, and all details of the house are exclusively designed, featuring numerous artistic elements such as the central staircase. The house, in general, has been completed with a high level of fit-out.

”From the start, we knew this project was going to be a special. Performing such a comprehensive renovation in a historical building like this, holds huge opportunities but also its challenges. The results we see today are a direct result of a tight collaboration between professionals who all played an important part in this. I especially want to thank Steen Niebling from SN Consult, Mikkel Westfall, Natasja Cornelius and team at Act Architects, Ulrik Larsen from REVCO, and SWECO, and BCG for working with us on this memorable project”, says Peter Gill, Partner, Head of CapMan Real Estate Denmark.

“We are thrilled to move into our new premises. The results speak for themselves. Our objective was to establish a unique domicile for our valued employees to give them the best circumstances to excel. Throughout this project, in collaboration with CapMan, SN Consult, Act Architects, BRIQ, REVCO, and SWECO, we have devised solutions that we firmly believe will significantly enhance and elevate the office experience for our employees. The Red Warehouse stands as our new inspiring office that fosters a vibrant community where we solve the biggest problems,” shares Ulrik Sanders, Managing Director & Senior Partner at BCG.

CapMan Nordic Real Estate II fund acquired Red Warehouse in 2019. In 2022 the fund signed BCG on a long-term lease for the refurbished office and sold the asset to German family-owned THI Investments in a forward purchase, where construction was agreed to continue with takeover later in 2023.

CapMan Real Estate manages approximately €4.2 billion in real estate assets and the Real Estate Team comprises over 65 real estate professionals located in Helsinki, Stockholm, Copenhagen, Oslo and London.

For more information, please contact:

Peter Gill, Partner, Head of CapMan Real Estate Denmark, +45 20 43 55 63

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With 5.1 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have set greenhouse gas reduction targets under the Science Based Targets initiative in line with the 1.5°C scenario. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business consists of procurement services. Altogether, CapMan employs approximately 180 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at

Categories: News


Vornado Realty Trust, Hudson Pacific, Blackstone, and New York City Economic Development Corporation to Create Public-Private Partnership and First Purpose-Built Studio Campus in Manhattan at Pier 94

  • Approximately $350 million investment expected to create more than 1,300 jobs during construction period, 400 permanent jobs and contribute $6.4 billion to the local economy over the next 30 years
  • Project to add several public amenities, including new public restrooms for Hudson River Park, an 1,850 square foot community amenity space, 25,000 square feet of waterfront open space and pier access, and safety improvements to the bikeway

New York & Los Angeles – August 29, 2023 – Today, Vornado Realty Trust (NYSE: VNO), Hudson Pacific Properties (NYSE: HPP), Blackstone (NYSE: BX), the City of New York, and New York City Economic Development Corporation (NYCEDC) announced they have entered into Manhattan’s first public-private partnership venture to build a purpose-built studio campus at Pier 94. Vornado, who contributed its long-term leasehold for Pier 94 to the venture, will own 49.9%; Hudson Pacific will own 25.6%; and Blackstone’s institutional Core+ Real Estate strategy will own 24.5%. Vornado will be responsible for development and Hudson Pacific will provide design oversight and manage the facility’s leasing and operations.

Sunset Pier 94 Studios will be a first-of-its-kind space, home to both state-of-the-art film and production technology that will make New York City even more competitive with other comparable markets, as well as impressive amenities for all New Yorkers including new public restrooms for Hudson River Park, an 1,850-square-foot community amenity space, 25,000 square feet of waterfront open space and pier access, and safety improvements to the bikeway. There will also be a program to support workforce development and training programs to connect local residents to opportunities in film, television, commercial and other media production.

The project represents a total investment of approximately $350 million from Vornado, Hudson Pacific and Blackstone, and is expected to create more than 1,300 construction jobs, 400 permanent jobs and contribute $6.4 billion to the local economy over the next 30 years. Construction will begin in third quarter 2023, utilizing $183 million in construction financing led by RBC, and delivery of the project is expected by year-end 2025.

“Our partnership with Blackstone, Hudson Pacific, and the City of New York will solidify New York as a leading market for content production and studio space, create jobs, drive economic momentum, and deliver a host of amenities to the surrounding community,” said Michael Franco, President and Chief Financial Officer at Vornado Realty Trust. “Together we’ll raise the bar for one of New York City’s signature industries and breathe new life into a key waterfront site.”

“We are thrilled to partner with the City of New York, Vornado, and Blackstone to bring this unparalleled, ideally located production experience to New York. The city has an extensive, well-established production infrastructure yet is highly supply constrained in terms of stages,” said Victor Coleman, Chairman and CEO of Hudson Pacific. “Once again we are leveraging our industry relationships and unique expertise in building and operating premier facilities for leading content creators in the highest-barrier-to-entry global media markets to create long-term value for our shareholders.”

“Content creation is one of our key global investment themes, and we are thrilled to be part of this one-of-a-kind, public-private partnership that delivers for our investors while aiming to create more than 1,300 construction jobs and 400 permanent jobs, and contribute $6.4 billion over the next 30 years to the local New York City economy. I want to thank the City of New York, Mayor Eric Adams, and the New York City Economic Development Corporation for helping make this project possible,” said Nadeem Meghji, Blackstone’s Head of Real Estate Americas.

“With our administration’s leadership, New York City is back – we have recovered 99 percent of the jobs lost during the pandemic, and visitors from across the world are returning to Broadway and Times Square,” said New York City Mayor Eric Adams. “At the same time, from Willets Points in Queens to Kips Bay in Manhattan to Kingsbridge Heights in the Bronx, we are advancing bold economic development projects across the entire city that will create tens of thousands of family-sustaining jobs in our communities, and the activation of Pier 94 will produce the same kinds of economic opportunities on the West Side of Manhattan. This project will bring critical, long-awaited investment to this public asset, turn an underutilized space into an economic driver, and improve public space and quality of life for New Yorkers.”

“Transforming Pier 94 into a world-class film and television production studio delivers multiple goals that are key to our continued recovery: economic development, local job creation, and public realm improvements,” said Deputy Mayor for Housing, Economic Development and Workforce Maria Torres-Springer. “This partnership between NYCEDC, Vornado, Hudson Pacific, and Blackstone will quickly revitalize this key waterfront asset and fortify our position as the capital of film and media.”

“Sunset Pier 94 Studios demonstrates a monumental public-private partnership that will have a lasting impact on our city by creating 400 film and TV jobs, over 1,300 construction jobs, along with an estimated economic impact of $6.4 billion over the next 30 years,” said New York City Economic Development Corporation (NYCEDC) President & CEO Andrew Kimball. “NYCEDC and our partners in this project look forward to the development and completion of the pier space – including significant improvements to the public realm and waterfront access on the west side of Manhattan that all New Yorkers will be able to enjoy. This project further advances NYCEDC’s mission of transforming New York City into a great place to live, work, do business, and play.”

Pier 94 will cement New York City as one of the preeminent places for the film and television industry to film while also contributing to the needs of the local community. Plans for the 266,000-square-foot Sunset Pier 94 Studios include six purpose-built soundstages with production control room facilities and 145,000 square feet of production support space and offices, with stunning Hudson River views and ample on-site parking. Several stages will have technological infrastructure for adaptation to virtual production. The facility’s location, design, size and technological capabilities will provide world-class convenience and flexibility for episodic television, live audience television and feature films. In alignment with the broader Sunset Studios portfolio, Sunset Pier 94 Studios will prioritize sustainability, targeting LEED Gold and Fitwel certification, with plans for operations to be powered by 100% renewable energy.

The new facility will be the first New York location for Hudson Pacific and Blackstone’s growing studio platform and synergistic with its existing Los Angeles operations. With the addition of Sunset Pier 94 Studios, Sunset Studios will comprise 69 existing and planned stages globally across six purpose-built facilities, all in top-tier locations within the well-established and supply constrained production epicenters of Los Angeles, London and New York. Hudson Pacific’s Quixote brand operates an additional 26 stages in Los Angeles and New Orleans and services productions in Los Angeles, New York, Atlanta, New Orleans and Albuquerque.

About Vornado Realty Trust
Vornado is a fully integrated real estate investment trust (“REIT”) with a portfolio of premier New York City office and retail assets and the developer of the new PENN DISTRICT. While concentrated in New York, Vornado also owns the premier assets in both Chicago and San Francisco. Vornado is a real estate industry leader in sustainability, with over 27 million square feet of LEED-certified buildings and over 23 million square feet at LEED Gold or Platinum.

About Hudson Pacific Properties
Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific’s unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. For more information visit

About Blackstone Real Estate
Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $333 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Our opportunistic funds seek to acquire undermanaged, well-located assets across the world. Blackstone’s Core+ business invests in substantially stabilized real estate assets globally, through both institutional strategies and strategies tailored for income-focused individual investors including Blackstone Real Estate Income Trust, Inc. (BREIT), a U.S. non-listed REIT, and Blackstone’s European yield-oriented strategy. Blackstone Real Estate also operates one of the leading global real estate debt businesses, providing comprehensive financing solutions across the capital structure and risk spectrum, including management of Blackstone Mortgage Trust (NYSE: BXMT).

About New York City Economic Development Corporation
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.

Forward-Looking Statements for Vornado Realty Trust
Certain statements contained herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not guarantees of performance. They represent Vornado’s intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Vornado’s future results, financial condition and business may differ materially from those expressed in these forward-looking statements. You can find many of these statements by looking for words such as “approximates,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “would,” “may” or other similar expressions in this press release. For a discussion of factors that could materially affect the outcome of our forward-looking statements and Vornado’s future results and financial condition, see “Risk Factors” in Part I, Item 1A, of its Annual Report on Form 10-K for the year ended December 31, 2022. Currently, some of the factors are the increase in interest rates and inflation and the continuing effect of the COVID-19 pandemic on our business, financial condition, results of operations, cash flows, operating performance and the effect that these factors have had and may continue to have on Vornado’s tenants, the global, national, regional and local economies and financial markets and the real estate market in general.

Forward-Looking Statements for Hudson Pacific Properties
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” or “potential” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond Hudson Pacific’s control, which may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect Hudson Pacific’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, Hudson Pacific disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause Hudson Pacific’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in Hudson Pacific’s Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, and other risks described in documents subsequently filed by Hudson Pacific from time to time with the SEC.


Tom Sanelli
(212) 894-7433

Hudson Pacific Properties
Investor Contact: Laura Campbell
(310) 622-1702

Media Contact: Laura Murray
(310) 622-1702

Jillian Kary
(212) 583-5379

Categories: News


GIC and Barzel Properties Complete R$1.2 Billion Acquisition of Nine Carrefour Brazil Group Assets


SAO PAULO, August 17, 2023 – GIC, a global institutional investor, in partnership with Barzel Properties, a leading real estate management and development firm, has completed the acquisition of five distribution centers and four retail stores through a sale-leaseback contract with Carrefour Brazil Group in a transaction valued at approximately R$1.2 billion.

The transaction is supported by a 20-year renewable lease contract with Carrefour Brazil Group, a leading Brazilian retail and private employer. Under this contract, Barzel Properties will ensure a stable, long-term revenue stream through a rental agreement, adjusted annually for inflation.

“We are thrilled to complete the acquisition of nine of Carrefour Brazil Group’s assets alongside our strategic partner, Barzel Properties,” said Lee Kok Sun, Chief Investment Officer of Real Estate, GIC. “GIC is confident in the portfolio’s long-term potential in Brazil, which is underscored by the stores’ strong operational performance and warehouses’ strategic locations in major logistics markets.”

“Despite uncertainties in the global macroeconomic environment, this transaction serves as a testament to GIC’s confidence in top-tier assets backed by robust companies with good credit ratings,” said Adam Gallistel, Head of Americas Real Estate, GIC. “In Brazil, we have been continuously exploring sale-leaseback opportunities underpinned by long-term contracts and companies with solid and growing operations, such as Carrefour Brazil Group.”

“We are immensely pleased to strengthen our partnership with GIC through this exceptionally promising transaction,” said Nessim Daniel Sarfati, CEO of Barzel Properties. “The strategic locations of these assets combined with Carrefour Brazil Group’s robust operational track record and the 20-year lease contract will provide a stable and reliable rent income stream. We have high confidence in the future potential of the acquired assets.”

Categories: News


EQT Exeter Real Estate Income Trust Launches


EQT Exeter Real Estate Income Trust, Inc. Initial Public Offering Declared Effective by the U.S. Securities and Exchange Commission

EQT Exeter Real Estate Income Trust, Inc. (“EQRT”) today announced its Registration Statement on Form S-11 in connection with its initial public offering of common stock has been declared effective by the U.S. Securities and Exchange Commission. EQRT is offering on a continuous basis up to $5,000,000,000 in shares of its Class S, Class T, Class D, and Class I common stock, consisting of up to $4,000,000,000 in shares in the primary offering and up to $1,000,000,000 in shares pursuant to a distribution reinvestment plan. EQRT is externally managed by Exeter Property Group, LLC (“EQT Exeter”), an affiliate of EQT AB.

EQRT is a newly organized corporation formed to invest primarily in stabilized, income-oriented commercial real estate in the United States, with an emphasis on properties that can leverage EQT Exeter’s scale and long-standing direct leasing relationships with Fortune 1000 companies. EQRT will generally seek to invest approximately 80% in properties with business tenants, such as industrial or life science properties, and approximately 20% in real estate assets with consumer users, such as multifamily or self-storage properties.

Until the release of proceeds from escrow, the per share purchase price for shares of common stock in the offering will be $10.00 per share plus applicable upfront selling commissions and dealer manager fees. Thereafter, the purchase price per share for each class of common stock will vary and will generally equal the prior month’s net asset value (“NAV”) per share, as determined monthly, plus applicable upfront selling commissions and dealer manager fees.

EQTE Brokerage, LLC, member FINRA and SIPC, is acting as the dealer manager for the offering on a best-efforts basis and will engage selected broker-dealers to participate in the distribution of shares to individual investors.

Written copies of the prospectus may be obtained from EQTE Brokerage, LLC, Attn: Jake Sauerteig, Five Radnor Corporate Center, 100 Matsonford Road, Suite 250, Radnor, PA 19087.

For all other inquiries contact

These statements are based upon EQRT’s current expectations and speak only as of the date hereof. EQRT’s actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties including those relating to future economic, competitive and market conditions and future business decisions by EQRT. EQRT undertakes no obligation to revise or update publicly any forward-looking statements for any reason.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. An offering is made only by the prospectus. This press release must be read in conjunction with the prospectus in order to fully understand all of the implications and risks of the offering of securities to which the prospectus relates. A copy of the prospectus must be made available to you in connection with any offering. No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the U.S. Securities and Exchange Commission, the Attorney General of the State of New York nor any other state securities regulator has approved or disapproved EQRT’s common stock, determined if the prospectus is truthful or complete or passed on or endorsed the merits of the offering. Any representation to the contrary is a criminal offense.

Categories: News


Cromwell Property Group and Bain Capital Special Situations to develop two LEED Gold logistics warehouses in Tuscany, in the Florence macro-area


FLORENCE, Italy – 25th July 2023 – Real estate investor and fund manager Cromwell Property Group and Bain Capital Special Situations, a leading global special situations investor with experience supporting differentiated real estate platforms, have acquired a new plot of land for development of two modern grade A logistics warehouses in the greater Florence area, adding to their growing portfolio in Italy.

Part of a series of planned developments by the two firms, this latest acquisition confirms their conviction in the Italian logistics market and their intention to continue taking advantage of the shortage in supply of logistics assets across Italy.

Designed to meet all modern grade A logistics standards, and with the flexibility to accommodate up to four occupiers, the two assets will be developed on a 155,000 square-meter plot of land in Lari, an industrial and logistics cluster strategically located along the motorway connecting Livorno commercial harbour and Florence (just 35 mins from the A1 tollgate). The area is an established logistics hub that is home to many well-known logistics operators, including Amazon, SDA Express Courier, Fercam, Ceva Logistics, STEF, Arco Spedizioni, DB Schenker, as well as international giants DSV, LIDL, DS Smith, Gucci, Fendi and Piaggio.

The site is a three-minute drive from a major junction with the Fi-Pi-Li motorway, a fast route crossing Tuscany that connects Florence, Livorno and Pisa, the main cities in the region. The catchment area is home to one million people within a 20-minute drive, increasing to two million within a 60-minute drive.

Cromwell has already received preliminary interest to lease more than three times the expected gross lettable area and expects to have most of the assets let by the start of construction in September 2023.

All future assets in the strategy will be developed to grade A logistics standards incorporating modern technical specifications and will target the LEED Gold certification. Innovative and alternative construction techniques and materials will be considered in order to lessen the environmental impact of construction and enable ongoing energy efficiency, carbon and cost savings.

Lorenzo Caroleo, Cromwell’s Head of Italy said:

“This acquisition not only highlights our commitment to the logistics sector in Italy, but also demonstrates our commitment to ESG and willingness to invest across the country in locations where the assets and local submarkets align with our investment strategy. So far, we’ve acquired assets in northern, southern and now central Italy.

“With construction due to start in September, these warehouses will be ready to accept tenants in 2024 and we are already in discussions with several potential occupiers, keen to take advantage of the modern, efficient and flexible warehouse space we are providing.

“This is our second such acquisition in a few months, despite the macro uncertainty and challenging financing conditions, with more to come as we press ahead with our pipeline of opportunities and additional land plots to be developed in the near future.”

Rafael Coste Campos, a Managing Director at Bain Capital Special Situations added:

“We like to invest in hard-to-access real estate sectors, underpinned by enduring secular trends that drive long-term demand. By partnering with Cromwell, with its experienced on-the-ground Italian team and in-house development capabilities, we have identified a deep dislocation between the supply of modern logistics facilities and the demand from occupiers across the region. We look forward to working with them on this mandate.”

Categories: News


Ardian completes first residential real estate investment with the acquisition of a historic property in Milan’s Magenta district

No Comments

This redevelopment project is Ardian’s first investment in the residential sector and will see the building refurbished to the highest design and sustainability standards.

Via Giuseppe Revere 3

Ardian, a world-leading private investment house, announces that it has completed the acquisition of 4000 square meters property located in Milan at Via Giuseppe Revere 3.

The building was acquired by Ardian through an investment vehicle that will be managed by Investire SGR, a leading independent asset management company which specializes in bringing value to real estate portfolios.

The historic property has a gross floor area of approximately 4,000 square meters and dates back to 1898. It is located in the Magenta district, one of the most beautiful and elegant areas of Milan, and is on the doorstep of Sempione Park, a haven of green space at the heart of Milan’s historic city centre. The property is surrounded by landmark buildings including the 15th-century imposing Sforzesco Castle and museums, the Arena Civica, the Arco della Pace and the Triennale di Milano.

The Arena Civica is a large amphitheatre born by the will of Napoleon in the early 19th century and today one of the city’s main multi-purpose sports facilities; the near Arco della Pace is a triumphal arch and one of the most important symbols of neoclassicism in Milan; in front of the park is the Triennale di Milano, an international cultural institution which hosts exhibitions, conferences and events.

The eight-story building consists of seven floors above ground and one basement floor, with two urban villas also overlooking the inner courtyard. After being acquired by Ardian, the building will be refurbished to the highest design and sustainability standards. It will use renewable power sources such as geothermal energy, energy-saving luminaires, automated management systems and high thermal performance of the building envelope. The refurbishment will be completed in partnership with the De Amicis Architetti studio, specialists in modern luxury design and preserving historic architectural features. New, high-quality finishes and large terraces overlooking the park for use by residents will complete the refurbishment project.

Ardian continues to invest in Italy with a “Build-to-Green+” strategy to fill the scarce supply of sustainable buildings across the office market. After acquiring a Milan office building on Amerigo Vespucci 2 street in December 2022, Ardian is refurbishing the building to achieve net-zero energy standards. Ardian will replicate that strategy in the residential market with the acquisition of this historic building on Revere 3, which will become a best in class building for energy performance.

“We see interesting and attractive investment opportunities in Europe’s residential property market. Italy, for example, has a scarce supply of quality buildings that meet the market’s highest sustainability standards. To put that into perspective, about 80 per cent of residential properties in Italy were built before the 1980s. Milan is also experiencing growing demand for different types of accommodation particularly in student housing, where need far exceeds supply thanks to a growing young population and increasing number of international students. There are many opportunities for value creation in multifunctional urban regeneration projects including a mix of residential, office and commercial use. This is especially the case for projects focused on reaching new sustainability goals, for example around improved energy consumption and social impact.” Rodolfo Petrosino, Head of Real Estate Southern Europe, Ardian

“We have always invested in redevelopment projects and focused on improving the sustainability credentials of these buildings. We will continue to follow this strategy in the office market, in addition to replicating our approach in the residential sector. Despite the current macroeconomic backdrop, the demand for new residential units of the best quality and with the highest sustainability standards continues to grow. This is due to the scarcity of quality housing and a polarization in the market, with ESG regulation driving demand towards low-carbon properties. Milan is a hotspot for sustainable urban transformation according to the smart city model, attracting significant property investors and managers. It is a blueprint for a new type of residential market which can be replicated in other cities.” Matteo Minardi, Head of Real Estate Italy, Ardian

“We are proud to launch this new investment vehicle with Ardian, which has chosen Investire SGR as partner for its first residential transformation project. Thanks to our proven track record and consolidated experience in redevelopment projects and urban regeneration, we further consolidate our leadership in the residential segment as a reference partner for international investors.” Alessandro Polenta, Managing Director, Investire SGR

List of participants

  • Participants

    • Legal, administrative and structuring Advisor: Gattai, Minoli, Partners
    • Environmental and Technical Due Diligence: Yard Reaas
    • Tax Advisor: Fivelex Studio Legale e TributarioNotary: Dario Cortucci
    • Notary: Dario Cortucci
    • Seller’s Advisor: Dils


Ardian is a world-leading private investment house, managing or advising $150bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is part-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

Press contact


Categories: News


GIC Invests in Aichi Logistics Facility Developed by Daiwa House Industry


Singapore/Tokyo, 20 July 2023 – GIC, a leading global investment firm, announces that it will acquire a logistics facility in Yatomi city, part of the Greater Nagoya metropolitan area. The asset is well‐located in a logistics hub near a major expressway and provides convenient access to the Nagoya central business district and other surrounding regions.

The warehouse was developed and completed in 2022 by Daiwa House Industry, a top class Japanese real estate developer engaged in various asset classes including logistics, residential, office, and retail. As a young and modern asset, the facility is attractive to a wide range of tenants serving both the regional local and regional areas.


Categories: News


KKR and Mirastar enter Sweden with prime last-mile logistics acquisition in Stockholm


Transaction is KKR’s second in the Nordics this year via its Core+ Real Estate strategy


Stockholm, 5 July 2023 – KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have acquired a high-quality last-mile logistics property in Stockholm. This off-market acquisition is the first in Sweden for KKR and Mirastar, and the second in the Nordics this year for KKR through its European Core+ Real Estate strategy, following the acquisition of a residential portfolio in Finland in May.


The c.12,500 sqm new build has been developed to modern functional specifications with strong ESG credentials, and will be acquired with a partial pre-let to Adelphos Healthcare AB, a developer and marketer of healthcare products. The building is situated in Botkyrka, a prime location in southwest Stockholm, benefiting from close access to the E4 and E20 highways with an approximately 30-minute drive to the city centre. The significant transport links make this a strong base for businesses supplying Stockholm, while also connecting Sweden’s capital city to the south of the country.


Anthony Butler, CIO and Co-Founder at Mirastar, said: “To buy a new build of this quality in such a sought-after and supply-constrained location is a rarity in Stockholm. We are delighted to be entering Sweden with an acquisition that aligns so closely with our regional strategy, and we look forward to building out our presence across the Nordic region.”


Alexander Thams, Director and Head of Nordics Real Estate at KKR, added: “Last mile logistics is a key sub-sector in KKR’s European real estate strategy. The rapid expansion of e-commerce continues to drive occupier demand, further enhanced by the re-shoring of supply chains becoming a higher priority for businesses. We will look to rapidly grow our industrial and logistics portfolio in the Nordics alongside Mirastar over the coming years, in line with our Europe-wide focus on this sector.”


Ian Williamson, Managing Director and Head of Core+ Real Estate in Europe at KKR, commented: “This acquisition in Sweden is a great fit for our pan-European Core+ platform in Europe, which focuses on investing in high quality, substantially stabilised assets with medium to long-term value growth potential. Logistics is a key theme within this strategy, as is investing in western and northern Europe including the Nordics where we are seeing sustained demand from operators for well-located grade-A logistics space.”


KKR has an established track record in the Nordic region, having invested over €6bn in equity since 2007 and strengthening its presence and growth ambitions in the region with the opening of a new office in Stockholm in June 2021. Recent investments in the region include Söderberg & Partners, Sector Alarm, Wolt, Nordic Bioscience, Caruna, Avida and a residential real estate joint venture in Denmark.


KKR and Mirastar were advised by JLL, CBRE, Roschier, Tjuren and Svalner.



About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises 35 senior real estate professionals and has offices in London, Madrid, Milan, Amsterdam and Stockholm. The team at Mirastar have collectively deployed over €16bn of capital across key European markets, built and constructed in excess of 3.0m sqm of logistics assets. (


About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.


Media Contacts

Fogel & Partners
Ludvig Gauffin
Tel: +46 (0) 70 222 60 30



FGS Global

Alastair Elwen / Sophia Johnston

Tel: +44 (0) 20 7251 3801

Categories: News


KKR and Mirastar Sell Gorsey Point UK Logistics Assets


LONDON – 3 July 2023 – KKR and Mirastar, KKR Real Estate’s industrial and logistics platform in Europe, have completed the sale of three modern logistics assets totalling approximately 708,000 square feet at the Gorsey Point logistics park in Widnes, UK to a commingled fund managed by Clarion Partners Europe.

The properties were acquired through forward-purchase agreements by KKR Real Estate Partners Europe II Fund and were constructed in two phases by Commercial Development Projects Ltd throughout 2022. The assets were developed with a strong environmental focus, resulting in BREEAM “Excellent” certification and EPC “A” ratings. All units benefit from LED lighting, EV charging and water saving initiatives.

Gorsey Point has excellent connectivity to the regional motorway network, as well as the rail freight terminal at Widnes, Garston Docks, the Port of Liverpool and Liverpool John Lennon Airport. The properties were over 90% let prior to delivery to two high-quality tenants: Supply Chain Coordination Limited, manager of the NHS Supply Chain operations owned by the UK’s Secretary of State for Health and Social Care, and Kammac Limited, a 3PL operator.

Ekaterina Avdonina, CEO and co-founder at Mirastar, said: “The successful sale of Gorsey Point ahead of our business plan is testament to the strong relationship between Mirastar, KKR and Commercial Development Projects Ltd. These assets are located in an established logistics location and have been developed to excellent ESG credentials. This has enabled Mirastar to successfully achieve pre-lets on more than 90% of the space.”

Seb d’Avanzo, Managing Director and Head of Real Estate Acquisitions for KKR in Europe, said: “We are pleased to complete the sale of these three high-quality assets. This transaction is a great validation of our strategy with Mirastar to develop well-located logistics properties with state-of-the-art physical features that are in-demand across market environments. We maintain a strong conviction in the European logistics sector and will continue to actively seek value within it.”

KKR and Mirastar were advised by CBRE, DTRE, Clifford Chance and Osborne Clarke. Clarion Partners Europe was advised by Gerald Eve and Goodwin Proctor.

About Mirastar

Mirastar is a pan-European logistics developer, investor and asset manager, founded in 2019 by Ekaterina Avdonina, Chief Executive Officer, and Anthony Butler, Chief Investment Officer. The team currently comprises 35 senior real estate professionals and has offices in London, Madrid, Milan, Amsterdam and Stockholm. The team at Mirastar have collectively deployed over €16bn of capital across key European markets, built and constructed in excess of 3.0m sqm of logistics assets.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at and on Twitter @KKR_Co.

Media Contacts
FGS Global (for Mirastar and KKR)
Alastair Elwen / Sophia Johnston
Tel: +44 (0) 20 7251 3801

Categories: News


Centerbridge Partners and GIC Complete Acquisition of INDUS Realty Trust, Inc.


NEW YORK, NEW YORK (June 29, 2023) INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced today the completion of the previously announced merger whereby affiliates of Centerbridge Partners, L.P. (“Centerbridge”), a global private investment firm with deep experience in real estate, and GIC, a global institutional investor, have acquired all of the outstanding shares of INDUS’ common stock in an all-cash transaction valued at approximately $868 million. Additionally, a wholly owned subsidiary of the Abu Dhabi Investment Authority (“ADIA”) will act as a strategic investor alongside Centerbridge in the ownership of INDUS post-closing.

“We are excited to have closed this transaction and look forward to the Company’s next phase under Centerbridge, GIC and ADIA’s ownership,” said Michael Gamzon, President and CEO of INDUS.  “We are pleased to deliver significant value to our stockholders and are grateful for their support over the years. I would like to thank all of our employees for their commitment to our Company and efforts to build our high-quality portfolio and platform.  This transaction is an incredible validation of their efforts.”

“GIC is pleased to complete the acquisition of INDUS and support their continued growth with our multi-asset experience, long-term view, and global footprint alongside our strategic partner, Centerbridge. GIC upholds confidence in both the long-term stability of the US industrial sector and INDUS’ role as a strong asset in our growing portfolio,” said Adam Gallistel, Head of Americas Real Estate, GIC.

Commenting on the announced acquisition, Billy Rahm, Global Head of Real Estate at Centerbridge said, “We are excited to partner with ADIA and GIC to continue to grow the business both organically and through acquisitions. We remain confident in the long-term, secular thesis supporting investment in industrial real estate. The INDUS portfolio represents a compelling example of that thesis.”

Mohamed Al Qubaisi, Executive Director of the Real Estate Department at ADIA, said, “INDUS has built a portfolio of high-quality industrial assets and is well placed to capitalise on future opportunities. We look forward to supporting the company as it embarks on its next phase of growth.”

As a result of the completion of the transaction, INDUS’ common stock will no longer trade on Nasdaq and will be delisted.

Categories: News