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Persimmon's revenue increases in FY'18; AXA Investment raises €643M for new fund

* Total group revenues of British homebuilder Persimmon PLC rose 4% year over year to £3.74 billion in full-year 2018 from £3.60 billion in 2017. New housing revenues also increased 4% to £3.55 billion in the reporting period from £3.42 billion.

* Axa Investment Managers - Real Assets amassed €643 million for its second Pan-European Value-Added Venture, exceeding the original €500 million target and giving the investment vehicle a total investment capacity of approximately €1.3 billion. The fund will invest in refurbishing and repositioning underperforming assets, with inherently core qualities, and lease and re-lease properties to improve income streams.


* Aberdeen Standard Investments' Aberdeen Standard Pan-European Residential Property Fund is investing £60 million to forward fund a build-to-rent project in Birmingham, IPE Real Assets reported. A 10-story post office building on the site is set to be transformed into a 14-story, 259-apartment private rental building, with completion slated in the summer of 2021, according to the report.

* Abstract Securities Ltd. sold The Florence Building in Basingstoke to LGIM Real Assets for about £29 million and simultaneously leased the property to Sovereign Housing Association. The 61,415-square-foot building was bought on behalf of the LPI (Limited Price Inflation) Income Property Fund.

* A joint venture between British Airways Pension Trust and General Projects Inc. purchased a 999-year leasehold interest in the commercial part of the Keybridge House mixed-use project in Vauxhall, Property Week reported. The deal involves 98,000 square feet of commercial space across the basement, ground and first floors of the building that will also contain 595 residential units, the report added

* Total take-up for big box logistics in the U.K. reached nearly 31.50 million square feet in 2018, surpassing both 2017 and 2016 levels of 17.4 million square feet and 29.3 million square feet, respectively, PW reported, citing data from CBRE.

France and the Netherlands

* Ampère Gestion and Swiss Life Asset Managers, Real Estate France, raised €650 million for French housing venture Fonciere Vesta and completed the purchase of a 128-building portfolio with roughly 4,000 housing units in the process. The funding consists mortgage debt of €360 million and €290 million in unsecured lending, with an average maturity profile of more than 12 years.

* Europa Capital wrapped up its €28.3 million purchase of a 51,502-square-meter logistics warehouse in the Dutch city of Oss from a private seller. The deal boosts the value of the property investment manager's core diversified income strategy to upwards of €180 million.


* German property investor VIB Vermögen AG is spending €100 million on the construction of its largest logistics property at the Interpark site close to Ingolstadt. The property will span around 115,000 square meters upon its expected completion by 2020-end, according to a release.

* According to CBRE, warehouse and logistics investment in Germany fell 22% year over year to €6.8 billion in 2018 due to a continued decline in portfolio deals, Property Investor Europe reported.


* The Tristan Capital Partners LLP-advised EPISO 4 opportunity fund partnered with White Star Real Estate to purchase a five-property warehouse portfolio in Poland for about €86 million. An affiliate of Oz Real Estate divested the assets, which collectively offer 161,689 square meters of gross leaseable area.

Middle East

* Multinational professional services firm Ernst & Young agreed to lease 120,000 square feet at the ICD Brookfield Place development in Dubai from the third quarter, Arabian Business reported. ICD Brookfield, a 50/50 joint venture between the Investment Corp. of Dubai and Brookfield Property Partners LP, is developing the 53-story, 1.1 million-square-foot tower, which topped out in January, the report added.

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Joyce Guevarra contributed to this report.