This week, our CRE deal summary for 10 December includes 13 logistical units in Italy, offices in the UK and Germany and a luxury hotel in Corsica, France.
13 Italian logistical units
Location: Northern Italy, including Greater Milan, Turin and Padua
Sector: Logistics
Buyer: AXA IM – Real Assets
Seller: Carlyle Group
Price: Around €270 million
Quote: Anssi Halonen, Managing Director on the Carlyle Europe Realty advisory team, says, “This transaction exemplifies our strategy of investing in well-located, high-quality assets through successful asset acquisition and active asset management, supported by a strong market environment that has benefited from rapid growth in e-commerce. We are proud of what we have achieved with this platform and remain active in the Italian market.”
Source: https://www.carlyle.com/media-room/news-release-archive/carlyle-group-sells-northern-italian-logistics-platform-%E2%82%AC270
Offices in UK and Germany
Location: Radius House, Clarendon Road, Watford, and Kaiserin-Augusta-Allee 112 & 113 (‘Goldstuck’) Berlin
Sector: Offices
Buyer: CLS Holdings
Seller: M&G Real estate (Radius House) and Deutsche Investment KVG (Goldstuck)
Price: £55.9 million excluding costs
Quote: Fredrik Widlund, Chief Executive Officer of CLS, says, “These acquisitions provide a combination of long-term, secure income and an opportunity to capture significant reversion through our active asset management approach.”
Source: https://www.clsholdings.com/~/media/Files/C/CLS-Holdings/documents/press-releases/2020/Acquisitions%20in%20Berlin%20and%20Watford%2007-12-2020.pdf
Nursing home portfolio
Location: Five nursing homes and living assisted units in Germany
Sector: Healthcare
Buyer: BNP Paribas REIM Germany’s Healthcare Property Fund
Seller: AG Real Estate and Cardif Lux Vie partnership vehicle
Price: Undisclosed
Quote: Isabella Chacón Troidl, Chief Investment Officer of BNP Paribas REIM Germany, says, “The European healthcare sector is characterized by above-average growth opportunities and considerable stability. This well-positioned portfolio will give the fund access to the particularly interesting German healthcare market.”
Source: https://reim.bnpparibas.com/en/bnp-paribas-reim-acquires-nursing-home-portfolio-for-newly-launched-healthcare-property-fund-europe
Hotel U Palazzu Serenu
Location: Corsica, France
Sector: Hotel
Buyer: Limestone Capital
Seller: Private owner
Price: Undisclosed
Quote: Benjamin Habbel, Managing Partner of Limestone Capital says, “We
continue to see excellent opportunities in the boutique hotel sector across
Europe with double-digit return potential. With recent major steps towards the
full reopening of the international hospitality sector, we are confident that
recovery following COVID-19 will be swift for premium assets in sought-after
destinations.”
Source: https://www.limestone-capital.com/news/2020/12/8/limestone-announces-corsica
Rijnplein shopping center
Location: Alphen aan den Rijn, South Holland, Netherlands
Sector: Retail
Buyer: Partnership of private investors represented by JansenDeJong
Seller: Altera Vastgoed NV
Price: Undisclosed
Quote: Erwin Wessels, CIO of Altera, says, “With this sale, we are continuing our investment strategy, which is aimed at creating a portfolio consisting of supermarkets and neighbourhood shopping centers.”
Source: https://www.alteravastgoed.nl/en/nieuws/altera-sells-rijnplein-shopping-centre-in-alphen-aan-den-rijn/
If you have found our CRE deal summary for 10 December useful, take a look at last week’s round-up of European property deals.
