Thursday property deal roundup
GLOBAL - Quantum Immobilien, Highstreet, ING Real Estate Investment Management, Aberdeen Asset Management, Treveria, Columbus Capital Management, Chester Properties, Crédit Agricole Assurances, Foncière des Murs, Louvre Hôtels, Rockspring Property Investment Managers, Exton Estates, ECE, Vivico
Hamburg-based investment company Quantum Immobilien has acquired three department stores in Germany for approximately €250m in total.
Quantum bought the assets from seller Highstreet for its newly launched Prime Retail Deutschland fund.
ING Real Estate Investment Management has acquired prime shopping centre in Sweden for €44.7m.
The Baronen shopping centre in Kalmar was bought from Gustaf De Geer and will be added to the ING Real Estate Nordic Property fund, expanding the portfolio to 149 properties worth approximately €1bn.
Aberdeen Asset Management has acquired a fully leased high street retail property in the centre of German city Gelsenkirchen.
The asset was sold by Treveria and will be added to the Aberdeen European Balanced Property fund.
Columbus UK Real Estate fund, advised by Columbus Capital Management, has acquired the Clyde Retail Park in Glasgow in a joint venture with Chester Properties.
The Scottish retail asset was sold by the UBS Triton Fund for £19.1m and will be expanded further following a refurbishment in 2008.
A portfolio of 32 hotels in France has been acquired by a joint venture between insurance subsidiaries of Crédit Agricole Assurances and Foncière des Murs for approximately €170m.
The hotels were sold by the Louvre Hôtels group, which will continue to manage them under the Campanile brand.
Rockspring Property Investment Managers has made a number of transactions in regional UK retail markets for more than £20m on behalf of its Retail Plus fund.
Kirkgate Retail Parade in Leeds and Princess House in Shrewsbury were bought for a total of £17.8m, while a high street retail unit in Chippenham was sold for £1.73m.
Rockspring has also been given planning permission for the speculative development of an office complex in Weybridge, Surrey.
Together with developer Exton Estates, the 103,600 square foot development scheme has been designed as two independent, self-contained buildings arranged over five floors.
The site was acquired for £4.25m from Mercedes Benz in January on behalf of the Rockspring UK Value fund.
German retail developer ECE Projektmanagement has started construction of the Skyline Plaza shopping and leisure centre in Frankfurt's European quarter.
The scheme is being funded to the tune of €360m through a joint venture between ECE and Vivico.