Investors are looking to offload shorter-leased offices and regional shopping centres, but relatively few prime assets are coming to the market.
Two more offices in Madrid sub-markets went up for sale this week, after Blackstone began looking for a buyer for another last week.
The largest new office opportunity is Winchester House in the City of London which Invesco Real Estate has now officially put up for sale for £275 mln on behalf of client China Investment Corporation. Tenant Deutsche Bank moves to a new HQ at 21 Moorfields next year.
After selling its 600,000 sq ft UK regional mall in Blackburn to a local company which paid £40 mln in cash, Capital & Regional is planning to sell another regional shopping centre, in Luton.
Retail specialist RivingtonHark bought Romford’s 790,000 sq ft The Liberty shopping centre, in outer London, saying it will be a long-term hold where the intention is to invest in the centre for the benefit of all stakeholders.
Invesco also launched its first European debt fund, seeking €1 bn of capital, following Nuveen’s first close last week for a European debt vehicle.
We also track the rest of the deals completed and the latest new financings.
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