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Ampère Gestion raises €900M for French fund; CBRE collects £250M for UK fund

* French asset manager Ampère Gestion amassed €900 million at the first close of its new FLI 2 intermediate housing fund, making it Europe's largest fundraising for a residential investment vehicle in 2018, Property Investor Europe reported.

The company expects total equity committed to the fund to reach €1.2 billion at a second closing in 2019, giving it an investment capacity of €2 billion, the report added.

* CBRE Global Investors Inc. raised approximately £250 million from 13 U.K. institutional investors at the initial close of its open-ended CBRE UK Affordable Housing Fund. The fund will invest in social and affordable rented housing, shared-ownership properties, homeless hostels and housing for key workers.

UK and Ireland

* Britain's Pension Insurance Corp. PLC invested a further £125 million in University Partnerships Programme to finance the development and operation of a 1,182-room student housing development for the University of Exeter in Exeter, U.K. The pension fund had initially committed £37 million to the program in 2018 to help deliver a 382-bed property for the university.

* London & Quadrant Housing Trust Ltd. signed a £62 million deal with residential developer HUB and Bridges Fund Management to deliver 172 affordable homes in Croydon, south London. The development is part of HUB's wider Taberner House project, plans for which include a total of 513 new homes across four blocks, according to a release.

* Stenprop Ltd. entered a deal to sell the 112,597-square-foot Euston House office building in London to Erel 4 SARL for an initial consideration of £44.3 million, valuing the property at £95 million. The deal completed Stenprop's sales program of more than £216.6 million of Central London offices, according to company CEO Paul Arenson.

* Retail giant Inc. is in negotiations to lease the 574,000-square-foot Altitude distribution center at logistics developer Gazeley's Magna Park in Milton Keynes, U.K., Property Week reported. The company plans to expand the asset to more than 1 million square feet by adding mezzanine floors, according to the report.

* Sir Robert McAlpine was awarded a contract by the Honourable Society of the Inner Temple to redevelop and revamp the institution's Treasury Building close to the Victoria Embankment in central London, Construction Enquirer reported. Project Pegasus will upgrade the building to offer modern purpose-built educational facilities, with completion expected in 2021.

* New York-based NorthStar Realty Europe Corp. closed its $40 million sale of three properties in the U.K. in December 2018. The properties have a combined leasable area of 7,135 square meters.

* Commercial property investments in Ireland rose to €3.6 billion in 2018 from €2.2 billion in 2017 due to several large-sized deals, The Irish Times reported, citing JLL. The total volume for 2019 is estimated to reach €3 billion, the report added.


* Spanish asset manager Azora Altus SL and CBRE Group Inc. partnered to launch a vehicle that will invest €250 million to transform city-center properties into last-mile logistics locations. The fund will initially focus in Madrid and Barcelona to look for furniture stores, car parks, dealerships, idle workshops or shopping centers and other properties suitable for the planned project.


* Industrial holding company Signa Real Estate Group picked up a mixed-use development site in Hamburg from MEAG MUNICH ERGO AssetMgmt GmbH for €120 million. Signa plans to build a prime office, residential and retail complex on the site.

* NorthStar Realty Europe also intends to divest three properties in Germany for a sum of $45 million, including the Uhlandstrasse in Frankfurt, which is being sold for $41 million. The deals are expected to be completed in the first quarter.

Sweden and Norway

* The Teacher Retirement System of Texas will commit €100 million to Sweden-based EQT Real Estate's EQT Real Estate II fund. The pension fund will also provide an additional €150 million in co-investment capital for the investment vehicle.

* Madison International Realty is acquiring 38,000 square meters of ground-level commercial assets in the six-stage Bjørvika urban development in Norway, IPE Real Assets reported.

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