Consorto® brings you this week’s pick of commercial real estate sales across Europe.
Neue Balan Haus 27
Location: Munich, Germany
Sector: Office
Buyer: Union Investment
Seller: Allgemeine SÜDBODEN Grundbesitz AG
Price: Over €100m
Quote: Alejandro Obermeyer, head of Investment Management DACH at Union Investment Real Estate, says, “The Neue Balan campus is a compelling work-life balance concept offering a high degree of flexibility. This type of development is rare in Munich. The space caters to the latest requirements of many national and international SMEs and start-ups.”
Source: https://realestate.union-investment.com/en/media-centre/press-releases/2020/2020_10_21_neue_balan_haus_27.html
Landskrona Örja 1:20
Location: Landskrona, Sweden
Sector: Logistics and offices
Buyer: Blackstone
Seller: Logistea AB
Price: SEK 841 million (subject to shareholder approval)
Quote: Savills advised Logistea. Niklas Zuckerman, Head of Investment, Savills Sweden, says, “Appetite for Swedish logistics among Swedish and international buyers remains at an all-time high. SEK 15bn (€1.4bn) was invested in this asset class between January and September 2020, making it the fourth largest sector by volume with a market share of 11%. Given the strong fundamentals, we expect a number of further logistics transactions to complete in the next few months.”
Source: http://www.logistea.se/investor-relations/nyheter/logistea-har-tecknat-villkorat-avtal-om-forsaljning-av-konce-80030
Electra Park, London, UK
Location: Canning Town
Sector: Industrial
Buyer: SEGRO
Seller: Schroders
Price: £133 million
Quote: Alan Holland, Business Unit Director for SEGRO’s Greater London portfolio, says, “This acquisition is an exciting opportunity for SEGRO to consolidate its leading London footprint and is a strong fit with its well established prime urban warehouse portfolio.”
Source: https://www.segro.com/media/press-releases/2020/21-10-2020-2?sc_lang=en
Terminal M Shopping Centre
Location: Eindhoven, Netherlands
Sector: Retail
Buyer: KGAL Investment Management
Seller: Propertize
Price: Undisclosed
Quote: André Zücker Managing Director of KGAL Investment Management with responsibility for commercial real estate, says, “Eindhoven is a hub for tech businesses in The Netherlands and its population has been growing for several years. This was an opportunity to acquire a popular shopping centre in the Meerhoven district of the city.”
Source: https://www.kgal.de/en/newsdesk/pressnews/detail/kgal-buys-terminal-m-shopping-centre-in-eindhoven/
Two logistics assets
Location: Veghel, The Netherlands
Sector: Industrial and warehousing
Buyer: PATRIZIA
Seller: Next Level Real Estate
Price: c€65m
Quote: Alexander van Gastel of the PATRIZIA transactions team in The Netherlands, says, “This is an exciting, brand new asset that meets the growing demand for high-quality logistics space in the region. Logistics has recently proven to be one of the most resilient real estate sectors. Covid-19 has accelerated existing e-commerce trends and so we are confident this asset will deliver long term secure income to our investors.”
Source: https://www.patrizia.ag/en/detail/press-releases/patrizia-buys-two-unit-dutch-logistics-scheme-for-around-eur-65-million/
