This week’s transaction activity focused on Europe’s core countries of the UK, France and Germany with around a dozen assets changing hands in these markets and virtually no deals recorded in other regions.
In the UK, Meadow Partners partnered with the Affordable Housing & Healthcare Group (AHH) on a £500 mln (€600 mln) senior living portfolio while Song Capital invested £370 mln to take over a portfolio of ground rents from Morrisons, the UK supermarket chain.
In Germany, BC Partners took over 30 Ibis hotels in a €130 mln deal financed by Societe Generale, while Munich saw the sale of a majority stake in the Pasing Arcaden shopping centre for some €200 mln and France witnessed the sale of the Reverso logistics portfolio for €150 mln.
In the new assets on the market section, Nuveen Real Estate took the bold step of re-launching the sale of 70 St Mary Axe at a 20% discount compared to the price it was marketed in 2022. The sale of the property is being handled by real estate firms Newmark and Cushman & Wakefield.
Meanwhile, two new funds launched this week focusing on the sought-after sectors of living and logistics. Panattoni is looking to raise €300 mln for an investment vehicle focused on stabilised logistics assets and forward purchasing pre-let developments while Kingstone is targeting a volume of €500 mln for a fund which will invest in energy-efficient new-build housing construction in Germany.
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