German open-ended fund manager Union Investment Real Estate has acquired Euragone Asset Management, its longstanding French asset management partner, with effect from 1 January 2011. The new Paris-based subsidiary - Union Investment Real Estate France SAS - has a team of 12 staff and is responsible for Union Investment’s EUR 2.7 bn property portfolio in France.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
