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Friday, 09 October 2015
UK-based Standard Life Investments has bought a portfolio of seven office assets across Germany for ¤325m from two Luxembourg property funds, and will split the properties between four of its separate funds.
US private equity firm TPG, which has deployed huge amounts in real estate including leading the acquisition of both DTZ and Cushman & Wakefield, has raised over $2bn for its second global real estate fund - signalling more office, logistics and distressed asset deals across Europe.
Canada Pension Plan Investment Board and the Netherlands-based APG are the latest large pension fund managers to target European logistics, creating a £1bn British joint venture with Australian developer Goodman.
US-based private equity firm Northwood Investors, in the process of taking over Paris office REIT/SIIC Cegereal, has announced an additional acquisition of an 87,000 sq.m. French office and industrial portfolio for ¤164m.
Paris-based real estate investment and asset manager L’Etoile Properties is looking to double annual acquisitions in France, Germany, Spain and the Netherlands to ¤1bn in the next two years, its chairman says.
Attractive office pricing and rental growth potential in Dutch capital Amsterdam prompted UK investment manager Rockspring to acquire the Zuidpark building close to Schiphol airport for ¤32m for a separate account client.
Amsterdam-based listed mall specialist Eurocommercial Properties has extended its ownership in the Bergvik mall in Karlstad, Sweden, with the purchase of an adjoining gallery for SEK600m (¤64.6m) at a net initial yield of 5.3%.
In a fresh sign of a property recovery in Spain, state workout agency Sareb is offering more than 150 plots of over 1.5m sq.m. for building homes, offices, shops, hotels and warehouses, saying demand is strong.
Spain’s fourth largest lender Banco Popular is to take advantage of the recovery by offloading ¤5bn of its ¤16bn property assets into a 'bad bank' and place a clear dividing line between its financial business and its debt.
The French government is setting up a ¤500m hotel real estate company as part of a plan to boost tourism, and is inviting institutions to contribute equity to the unit which will be run by state financing body Caisse des Dépôts.
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