Each week, Consorto provides a round-up of European commercial real estate deals. This week is led by the Espace Lumière office in Paris, France.
Espace Lumière
Location: Boulogne Billancourt, Paris, France
Sector: Office
Buyer: Tishman Speyer and the Public Sector Pension Investment Board
Seller: Invesco Real Estate
Price: Not disclosed.
Quote: Philippe Joland, Senior Managing Director and President of Tishman Speyer France, says, “We are delighted with this acquisition in such a special context. With the planned departure of Canal+ in 2022, we will be keen to reposition this magnificent building at the entrance to the city of Paris.”
Source: https://www.investpsp.com/en/news/tishman-speyer-and-psp-investments-acquire-espace-lumiere-in-boulogne-billancourt/?ref=/en/news/
27-property supermarket portfolio
Location: Northern Spain and the Balearic Islands
Sector: Retail – off-market sale-leaseback
Buyer: WP Carey
Seller: Undisclosed
Price: $102 million (€87 million)
Quote: Christopher Mertlitz, Executive Director, Investments, W. P. Carey says, “Due to our longstanding commitment to building strong tenant partnerships, we were able to secure this off-market transaction with an existing tenant to acquire a portfolio of high-quality supermarket assets.”
Source: https://ir.wpcarey.com/investor-relations/press-releases/press-release/2020/W.-P.-Carey-Announces-102-Million-87-Million-Investment-in-Supermarket-Portfolio/default.aspx
The image, by Tira Monto, is from Wikipedia and is reproduced under CreativeCommons.
10 industrial and office assets
Location: Portugal
Sector: Industrial and office
Buyer: Portuguese Investment Fund, M7
Seller: Undisclosed
Price: €41 million
David Ebbrell, Chief Executive of M7 Real Estate, says, “The initial portfolio we have assembled for PIF presents an attractive opportunity to add value through intensive asset management, which will be led by our local team on the ground in Lisbon.”
Source: https://www.m7re.eu/news/m7-private-equity-partner-commence-new-portugese-industrial-office-joint-venture-with-e41-million-acquisition/
Cross-dock logistics facility
Location: Glasgow, Scotland UK
Sector: Logistics
Buyer: Blackbrook Capital
Seller: Undisclosed
Price: Undisclosed
Arvi A. I. Luoma, Co-Founder & CEO of Blackbrook, says, “This facility reflects our strategy well with an established long-term tenant operating in a defensive sector, together with a quality logistics asset that forms a key component of their regional distribution network. We look forward to building our portfolio in the UK as an important component of our pan-European platform.” https://blackbrookcapital.com/blackbrook-announces-acquisition-of-sainsburys-logistics-facility/
The image of a Sainsbury’s lorry is by Graham Richardson. It is from Wikipedia and is reproduced through CreativeCommons.
Six industrial assets
Location: Netherlands – five are in the Randstad
Sector: Industrial
Buyer: Edmond de Rothschild REIM for JV Orange Industrial
Seller: Undisclosed
Price: Undisclosed
Onno Scheij, Managing Director, Head of Benelux, Edmond de Rothschild REIM, says, “With the acquisition of this seed portfolio we have acquired a great value-add product in line with the investment strategy to acquire existing and to-be-developed industrial and distribution assets throughout the Netherlands. We look forward to adding further assets to this portfolio with AIG Global Real Estate.” https://www.reim-edr.com/en/news/view/edmond-de-rothschild-reim-acquires-six-industrial-assets-on-behalf-of-new-partnership-with-global-real-estate-investment-organisation
See more CRE property sales round-ups on Consorto.
