The UK dominated investment activity this week, accounting for all the major transactions closed.
In the logistics sector, Axa snapped up a 1.9 mln sq ft portfolio for £391 mln (€470 mln) and Cain International completed the acquisition of a 22-property strong portfolio for £550 mln.
The retail sector also saw a major deal with LaSalle Investment Management acquiring two prime outlet centres, McArthurGlen Designer Outlet Cheshire Oaks and McArthurGlen Designer Outlet Swindon, for £600 mln.
Cain topped our loans section for the week, having secured a £420 mln facility from US asset management giant Blackstone for the portfolio it just bought.
The five-year senior loan will be used to refinance the deal as well as to fund the development of the portfolio with the aim to double the size over time. ‘This deal marks Cain’s entry into the logistics sector and reflects our strong belief in the long-term attractiveness of this market,’ Daniel Harris, senior managing director and head of European investment for Cain International, told PropertyEU in an interview.
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