ARTICLES LABELLED WITH TAG fund

Hungary’s Indotek Group has agreed to acquire the majority ownership of local investor Diófa Asset Management. As one of the leading investment management and real estate development groups of Hungary, Indotek Group – as a professional long-term investor – intends to provide the ownership background Diófa Asset Management is in need of, in order to strengthen its market position and to develop its portfolio of services on the markets of property management and investment products.

Cromwell has completed the acquisition of all third party investor interests in the Cromwell Polish Retail Fund (CPRF). CPRF contains seven catchment-dominating shopping centres with a Gross Asset Value of approximately €600 million. The centres have an occupancy rate of 96.3% and a weighted average lease term (WALT) of 5.1 years.

OTP Real Estate Investment Fund has acquired the 26,000 sqm Roosevelt office building in central Budapest. The seller was Munich-based GLL Real Estate Partners (GLL).

Blackstone announced the final close of its latest global real estate fund, Blackstone Real Estate Partners IX. BREP IX has $20.5 billion of total capital commitments — the largest real estate fund ever raised. Blackstone is also currently investing two regional opportunistic funds, the €7.9 billion BREP Europe V and the $7.2 billion BREP Asia II.

At the end of September or in early October, the Accolade Fund will exceed the symbolic mark 500,000 sqm of fully occupied rental space for light industry, e-commerce and logistics. This will move the Fund closer to another magical mark: CZK 10 billion worth of properties under its management. If all pending transactions are taken into account, the Fund’s rental property portfolio will increase to 515,000 sqm, worth in total €351.5 million, which is more than CZK 9 billion.

KD Funds, one of the largest and oldest asset managers in South East Europe and Peakside Capital, an international real estate investor, announced the launch of the KD Adriatic Value Fund, Special Investment Fund, the first regulated real estate alternative investment fund (AIF) in Slovenia.

Patrizia Immobilien AG has acquired Rockspring Property Investment Managers LLP, providing it with a London-based fund management hub with a focus on discretionary capital for global clients. The acquisition further strengthens Patrizia’s global investor base and expands the Group’s network of pan-European offices, resources and capabilities.

M7 Real Estate, a pan-European investor and asset manager, has raised its first Central European fund. M7 Central European Real Estate Fund I (M7 CEREF I) has received investor commitments from a number of family office and high net worth individuals totalling over €35 million to be deployed in the region. Following this initial raise, M7 CEREF I has acquired Oregon House in Prague. 

Mitiska REIM, an investor specialised in European retail parks, has tannounced the successful second closing of its First Retail International 2 Fund (FRI 2) close to €190 million, significantly exceeding its original target of €120 to 150 million.  Allowing for gearing of 50%, the Fund’s gross investment capability is now close to €400 million.