Weekly data sheet: Life sciences buy is biggest of just a handful of deals as investment activity slows down

Brockton Everlast has sealed the largest transaction of the week and one of the largest deals in the life sciences sector this year with the acquisition of three buildings at Cambridge Science Park for around £200 mln (€231 mln).

The acquisition is one of just a handful of transactions as investment activity across Europe continues to slow down across all sectors.

Landlords do, however, continue to test investors' appetite with a healthy offering of new products. Goldman Sachs is putting a roughly £200 mln housing portfolio in the UK up for sale only a year after acquiring it. Also in the UK, Morrisons is kick-starting plans to sell off supermarkets in a £150 mln deal. Other minor sales processes were launched in London, Berlin, Milan, Edinburgh and Galway in Ireland.

In the funds category, TPG Real Estate closed its latest opportunistic real estate equity fund, TPG Real Estate Partners IV (TREP IV), securing more than $6.8 bn (€6.9 bn) of total commitments.

Meanwhile, German firm Quantum joined forces with Provincial Asset Management (ProAM) to launch a new impact fund focused on ESG-compliant office real estate in Germany. The vehicle, which will be targeting a volume of €750 mln, will invest in existing buildings that will be led into a new life cycle thanks to a manage-to-green approach. In addition, the fund will invest in new office buildings that are already ESG-compliant.

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