In brief

YONIQ seeds German fund

Corestate Capital-owned German student housing developer YONIQ has sold four projects worth €63m into a new closed-end fund launched by MPC Münchmeyer Petersen Capital. MPC will market the fund to investors in the third quarter  of this year, while YONIQ will develop and manage assets for a series of student housing funds the partnership aims to roll out by the end of 2013. The assets that seed the initial fund include units in Greifswald; Karlsruhe; Munich Schleissheimer Strasse; and a Frankfurt development.

AXA picks up hotels portfolio

AXA Real Estate has agreed to buy six Accor hotels from Foncière des Murs for €133m in cash on behalf of a club of three clients. They are: an AXA Group investment vehicle, Caisse des Dépôts and Sogecap. Four of the hotels are in Paris while the others are in Brussels and Gent.

LaSalle IM acquires Aussie firm

LaSalle Investment Management is expanding in Australia through an agreement to buy Brisbane-based investment manager Trinity Funds Management. TFM manages four funds with A$650m (£432.3m) of assets, which will be rebranded. Trinity CEO Steve Leigh will become head of LaSalle’s Australian operation. LaSalle is also in talks to take over JER Partners’ European business.

AIFM feedback deadline nears

Fund managers have until 13 September to submit feedback on the European Commission’s Alternative Investment Fund Manager (AIFM) directive. A 438-page consultation paper was published by the European Securities and Markets Authority this month.