Three major portfolios changed hands this week, including a record-breaking transaction in the Polish residential sector.

Investors Echo Investment and Griffin Capital Partners have announced the sale of over 5,000 units from their Resi4Rent living platform to Vantage Development, part of Germany’s TAG Immobilien Group for as much as €565m.

The portfolio represents around half of Resi4Rent development assets in the Polish cities of Warsaw, Cracow, Gdansk, Wroclaw, Lodz and Poznan. Following closing of the deal, the Resi4Rent portfolio will include 1,700 operating units, 2,200 units under construction and more than 600 planned units in the pipeline.

“We are divesting selected mature assets in the living segment while continuing to focus on new projects and the interests of our stakeholders. Importantly, we remain fully committed to growing our accommodation rental business and developing the remaining Resi4Rent portfolio of approximately 4,500 units,” says Rafał Mazurczak, COO of Echo Investment.

Meanwhile French investor Frey has set up a €650m retail investment joint venture with Cale Street and already signed the purchase of three outlet malls in Italy – the largest outlet market in Continental Europe. The properties – Valdichiana, Franciacorta and Palmanova – were bought from Blackstone for €410m. In addition to the acquisitions, Frey is taking over Land of Fashion, the Italian platform that manages the assets.

Antoine Frey, chairman and CEO of Frey, says: “Frey has become one of the top three outlet operators in Europe. With these transactions, Frey is strengthening its European footprint and further accelerating its growth profile while consolidating its sustainable retail model.”

In Germany, Starwood signed the purchase of the so-called Helix logistics portfolio from Palmira and Nuveen for a price said to be around €350m.

In the new assets on the market section, landlords are taking advantage of investors’ renewed interest in London offices by putting two major schemes up for sale. In the largest process, Derwent London reportedly mandated CBRE and Knight Frank to divest the Brunel building for £300m (€347m).

 

Recently completed deals       
Asset Asset type Location Buyer Vendor Size Price (m) Key facts
Soho House hotel Worldwide MCR Hotels Shareholders 46 hotels $2700 (€2300) The company’s hotel portfolio includes properties in the UK, Denmark, France, Germany, Greece, Italy, The Netherlands, Spain and Sweden.
18 projects living Poland Vantage Development Echo Investment, Griffin Capital Partners 5,322 units €565 (PLN2405) The projects are in the Polish cities of Warsaw, Cracow, Gdansk, Wroclaw, Lodz and Poznan.
three outlet centres retail Italy Frey, Cale Street Blackstone 90,000m2 €410 The assets are Franciacorta (Lombardy region), Valdichiana (Tuscany) and Palmanova (Trieste.
Helix portfolio logistics Germany Starwood Palmira and Nuveen 331,000m2 €350 The portfolio includes 12 properties generating rents of €20.5m a year.
MoJ’s London office office London Arora Group Landsec NA £245 (€284) The new owner plans to turn the asset into a hotel.
seven UK hospitals healthcare UK APG HICL NA £225 (€260) The two largest assets in the portfolio sale are the Southmead Hospital and the Pinderfields and Pontefract Hospitals.
Mekanikken living Copenhagen DWS CCP 5 LL 215 apartments €80 The acquisition was made for an institutional real estate fund.
Infinity shopping centre retail Valencia General de Galerías Comerciales AQ Acentor 113,000m2 €60 The asset is the largest shopping centre currently under development in Spain.
Varley Park living Brighton, UK UOL University of Brighton 771 beds £43.5 (€50) This investment will be the group’s first foray into the student accommodation market.
Fabryka Park retail park retail Katowice, Poland Newgate Investment TDJ Estate 8,800m2 NA Fabryka Park is home to tenants including Action, TEDi, Jysk, Dealz, Maxi Zoo, Rossmann, Pepco, Media Expert, and Woolworth.
Georgsplatz 1 office Hanover GETEC Immobilien NA 20,000m2 NA NORD/LB is the current occupier of the asset.
Federated Hermes Property Unit Trust corporate UK L&G Managed Property Fund Unitholders NA NA A “substantial portion” of FHPUT unitholders’ holdings will be transferred to MPF, while the rest are being paid out to leave the fund.
Equalizer building office Berlin Local pension fund Dieag 13,000m2 NA The building is due for completion next year.
Quartermile One office Edinburgh BauMont Real Estate Capital Epic UK 123,000sqft NA The Foster + Partners designed building has recently been refurbished.

 

Assets on the market       
Asset Asset type Location Vendor Size Price (m) Broker Key facts
Brunel building office London Derwent London 243,000sqft £300 (€348) CBRE; Knight Frank Tenants include Sony Pictures Entertainment, Paymentsense and private equity firm Hellman & Friedman.
The Burlian mixed London Hines 41,746sqft £200 (€232) NA The sale would represent a yield of 3.75%.

 

Recently completed loans    
Lender(s) Borrower(s) Asset(s) Loan Size (m) Key facts
Erste Prime Kapital Arges Mall in Romania €85 The 150-store shopping centre was completed last year.
Aexx Capital Xojay Management XO Jonquet project in Palma de Mallorca €55 The landlord plans a waterfront project with 57 luxury residential units.

 

New mandates/JVs and funds on the market   
Firm Fund/mandate/JV Strategy Details
Ethos Capital Ethos Light Industrial Opportunities I Ky Investing in light industrial properties in the Finnish growth centres. Ethos Capital aims to make investments worth €60m by the end of 2026.

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