Here is our selection of commercial real estate sales across Europe this week:
Bergi LC in Riga
Location: Riga, Latvia
Sector: Logistics
Buyer: EfTEN Capital
Seller: Lords LB Baltic Fund III
Price: Not disclosed, but is the largest logistics deal in Latvia since 2018.
Quote: EfTEN Capital Latvia, CEO Viktors Savins, says, “Logistics segment currently provides for one of the most interesting return stories. Bergi LC suits our institutional portfolio well, due to its strategic and rapidly developing micro-location in Riga city, quality tenants and acquisition yield. In the post-Covid world, the logistics is the growing trend.”
Source: https://eften.ee/en/eften-real-estate-fund-4-news/eften-capital-signs-an-agreement-to-acquire-bergi-lc-in-riga-from-lords-lb-baltic-fund-iii-in-a-record-deal/
Sainsbury’s retail store
Location: Heaton, Newcastle, UK
Sector: Retail
Buyer: SUPR Supermarket Income REIT
Seller: National Farmers Union
Price: £53.1 million
Quote: Ben Green, Director at Atrato Capital, says, “This omnichannel Sainsbury’s store is an excellent addition to our growing portfolio. The property has strong underlying fundamentals with an attractive inflation-linked lease in excess of 20 years and provides asset management opportunities.”
Source: https://www.supermarketincomereit.com/post/supr-acquires-newcastle-sainsbury-s
11 office buildings in Poland
Location: Kraków and Wrocław
Sector: Office
Buyer: Partners Group
Seller: BUMA Group
Price: More than €200 million
Quote: Marco Denari, Member of the Management Board of Private Real Estate Europe from Partners Group, says, “We value the Polish residential, office and logistics market very highly, so we plan to further expand our presence here, looking for portfolios generating cash with short- and medium-term value-building potential”
Source: https://reinocapital.pl/fundusze-partners-group-przejma-aktywa-grupy-buma-reino-partners-bedzie-nimi-zarzadzac/
Fleet Place House
Location: London, UK
Sector: Offices
Buyer: M&G Real Estate
Seller: SHOKAI UK
Price: £111.7 million
Quote: TeckLeong Kee, Fund Manager, M&G Real Estate Asia, says, “The last six months have accelerated many ongoing trends in the office sector, accentuating the importance of top quality, future-proofed workplaces to attract and retain talent, provide space for collaboration and define organisational culture.”
Source: http://www.commercialnewsmedia.com/archives/105693
The Fleet Place House image is © Nigel Cox (cc-by-sa/2.0)
