A development project that includes a Winter Olympic Village in Milan, Italy, heads Consorto’s weekly summary of European commercial real estate deals. This week’s selection features logistics, industrial, offices and mixed-use developments.
Italy Winter Olympic Village and other developments
Location: Porta Romana railway yard in Milan
Sector: Mixed Use development project
Buyer: Coima SGR, Covivio and Prada
Seller: FS Sistemi Urbani Srl and Rete Ferroviaria Italiana SpA
Price: €180 million
Quote: Manfredi Catella, Founder & CEO of COIMA, says, “Our investment strategy is based on urban regeneration on a neighbourhood scale, where we believe the best results can be achieved through integrating infrastructure, environment and community. The experience gained in the redevelopment and management of the Porta Nuova railway yard, now together with the Porta Romana project, is grafted onto the development of the future of cities in an era of innovation and extraordinary transformation.”
Source: https://www.coima.com/en/media/press-releases/coima-sgr-covivio-and-prada-holding-spa-win-the-tender-for-the-purchase-of-the-porta-romana-railway-yard-in-milan
Three London UK warehouses
Location: Dnata City, near Heathrow Airport
Sector: Industrial
Buyer: Hines Pan-European Core Fund
Seller: Aberdeen Standard Investments
Price: £80 million
Quote: Peter Epping, Senior Managing Director and HECF Fund Manager at Hines, says, “The Dnata City site offers excellent proximity to Heathrow. Given the heavily supply-constrained location, we see strong long-term prospects for this prime asset beside one of Europe’s busiest airports, which will be a critical part of the UK’s travel and logistics infrastructure beyond the pandemic.”
Source: https://www.hines.com/news/hines-pan-european-core-fund-acquires-three-logistics-warehouses-near-londons-heathrow-airport
Logistics facility in Sweden
Location: Kronan Logistics Park, Landskrona, in Skåne
Sector: Logistics
Buyer: Logicenters
Seller: New build
Price: Not disclosed
Quote: Matthias Kettelhoit, Head of Logicenters says, “Kronan Logistics Park has an unbeatable location for logistics, close to both Malmo and the rest of the Oresund region. We are looking forward to working with NA-KD and it will be exciting to follow its development in a rapidly growing eCommerce sector.”
Source: https://www.logicenters.com/logicenters-acquisition-expands-its-presence-in-skane/
Spanish 5 logistics units
Location: Barcelona and Seville areas
Sector: Logistics
Buyer: Clarion Partners Europe
Seller: Prologis Inc.
Price: Not disclosed
Quote: Alistair Calvert, CEO of Clarion Partners Europe, says, “This is a rare opportunity to acquire a high-quality portfolio of tenant critical warehouses in established logistics locations, adjacent to key transportation hubs and high-density conurbations.”
Source: https://www.clarionpartners.com/News/Pages/default.aspx
South Crystal Office
Location: South District, Brussels, Belgium
Sector: Office
Buyer: KanAm Grund Group
Seller: Ethias
Price: Not disclosed
Quote: KanAm Grund Group says, “The main tenant of the property is INFRABEL S.A., an almost 100% state-owned company, which builds, operates, and maintains the Belgian railway network.”
Source: https://www.kanam-grund-group.de/en/KanAm-Grund-Group-purchases-the-South-Crystal-office-building-in-Brussels-1279/
