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PIE - Property Investor Europe

Monday, 27 April 2015

French Vinci Park talks to buy Portugal's Empark said pitched at ¤900m

Paris-based car parks group Vinci Park has confirmed it is in exclusive negotiations to buy Portuguese parking firm Empark, reportedly for around ¤900m. The deal would make it Europe's leading car park manager.

NYSE's Gramercy closes first deal in ¤700m Europe net-lease strategy

Gramercy Property Europe, a fund sponsored by NYSE-listed Gramercy Property Trust, has closed its first deal in Europe in a single-tenant net-lease and sale-leaseback strategy, buying a warehouse in Germany for ¤21m. The firm plans spend of ¤500m-¤700m annually.

China's Kangde nears ¤50m Bareclo hotel purchase in Spain's Tenerife

Chinese property group Chongqing Kangde is close to buying the Hotel Barceló Santiago in Tenerife, Canary Islands, from Spain's restructuring Barceló group for a reported ¤50m. The deal would be Kangde's first in Europe, and follows a visit by a delegation led by Kangde Chairman Lu Chaokang last year.

AXA RE pays ¤308m in S-L purchase of Spain Santander assets

Paris-based investment manager AXA Real Estate has further expanded its Spanish portfolio with a ¤308m sale-leaseback purchase of assets let to banking group Santander for two institutional clients. Vendor is the REIT/SOCOMI URO in which Santander holds a large minority.

Fortress’ Eurocastle sells ¤114m German office, turns to Italy

In its strategy to divest in Germany and focus on Italy instead, listed firm Eurocastle, controlled by New York private equity group Fortress Investment, has sold its Wave portfolio of German offices, valued at close to ¤114m.

Italy's Sorgente expected to target ¤500m as it launches REIT IPO

Sorgente, one of Italy's longest-established property managers which owns trophy buildings in New York and other international cities, has applied to launch a long-awaited IPO for a real estate investment trust. No financial details were given but it is expected to target ¤500m-¤600m.

Logistics among strongest potential sectors in Italy - Scenari/Brookfield

Logistics in Italy is among sectors with strongest potential in part due to rapid growth of e-commerce, says a study by research group Scenari Immobiliari and UK-based IDI Gazeley-Brookfield Logistics Properties.

Francaise Forum, Aberdeen buy ¤80m German retail from DAWM

A joint venture fund between Franco-British La Française Forum Real Estate Partners and UK-based Aberdeen Asset Management has paid ¤80m to acquire two German retail assets from Deutsche Asset & Wealth Management, part of the Deutsche Bank group.

Credit Suisse said preparing ¤700m German portfolio sale

In a further sale of assets from its liquidating CS Euroreal German open-ended property fund, Credit Suisse Asset Management, a unit of the Swiss bank, is reported readying a portfolio sale of 20 German commercial buildings valued at around ¤700m. CSAM has made no comment.

Corestate to delist Youniq student housing firm - Winter

Swiss private equity group Corestate Capital is planning to delist German student housing firm Youniq and then recapitalise it, Corestate Founder Ralph Winter told PIE in an exclusive interview. The firm has been boosting holdings in Youniq since last year, and now holds 92.2% of equity.

For more Property Investor Europe news, click thru to our News archive.

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