Advisor JLL has been mandated to sell Project Summit, consisting of four Fusion Group PBSA assets, with the potential for a longer strategic relationship.
The portfolio, valued at €538 mln, comprises four prime assets located in Birmingham (622 beds), Loughborough (541 beds), Glasgow (619 beds), and Cardiff (706 beds).
In Hungary, Austrian developer CA Immo has reportedly launched the sale of the Millennium Towers, a 70,700 m2 complex consisting of four buildings (Towers I, II, III, and Building H of the K&H headquarters).
Other smaller assets are being marketed in London and Barcelona.
In the recently completed deals section, well over €3 bn of assets changed hands this week, with institutional investors seeing value in retail and living properties.
Top deals included Strategic Value Partners’ acquisition of the Blanchardstown Centre in Dublin for just under €600 mln as well as the purchase by Globe Trade Center and Luxembourg Finance House of 5,200 apartments in Germany. In Amsterdam, Union Investment took delivery of the €400 mln Pulse mixed-use complex. Also, two more shopping centres sold in Palermo, Italy and Tallinn, Estonia.
Two massive financing deals feature in the recently completed loans section this week. CTP won a €1.3 bn sustainability-linked, five-year loan for its logistics portfolio and landlords Ivanhoé Cambridge and BPCE secured a €456 mln financing for Tour Duo from lenders BayernLB, First Abu Dhabi Bank, Berlin Hyp, Deutsche Hypo-NORD/LB Real Estate Finance, and DekaBank.
In the new funds section, French asset manager Praemia teamed up with Italian institution CDP and operator Camplus to launch a new investment platform in the student housing sector in Italy.
'We’re excited about opportunities in this space and will soon unveil some significant investments in student housing in Italy,' Praemia’s chairman Laurent Fléchet recently told PropertyEU.
