Experienced investors picked up retail, residential, logistics and office assets in the busiest seven days for transaction data for some time.
AEW, AXA IM Alts, CBRE IM, Pontegadea, Savills IM, Ivanhoe Cambridge and specialists like LeadCrest and Eurofund have been active buyers.
In the retail sector, long-income investors Realty Income Corp and LeadCrest Capital Partners bought UK retail parks and Italian retail warehouses.
AEW acquired a big piece of rue de Passy in Paris 16th, paying €130 mln for Passy Plaza.
Opportunistic shopping centre buyer Eurofund with Signal Capital has clinched a lengthy negotiation to buy the massive Mulheim mall which was formerly owned by Morgan Stanley’s MSREI and before that, by Blackstone.
CBRE IM and Savills IM continued a focus on building up residential portfolios, buying new developments in expanding residential districts in Stockholm, Valencia and UK regional towns.
One of the biggest transactions in the Nordics this year was inked as Norwegian logistics developer Fabritius sold two prime warehouses in the growing Moss Naeringspark, south of Oslo, to AXA IM Alts.
There continues to be a healthy pipeline of assets coming up for sale, especially in the UK where Nuveen and Savills IM each put London office buildings up for sale.
The standout loan written this week was by Ares. Its European Real Estate Debt fund provided a €300 mln bilateral refinancing for a pair of London trophy assets. The borrower was not disclosed but the assets were recently owned by the Cola family’s Cola Holdings.
One fund closed: Round Hill Capital secured a final, €90 mln tranche from a French investment fund and an Asian public pension fund for European Residential Income Fund II. They join nine existing institutional investors with a total €440 mln raised.
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