This week, our CRE deal summary for 10 December includes 13 logistical units in Italy, offices in the UK and Germany and a luxury hotel in Corsica, France.

13 Italian logistical units

AXA IM – Real Assets has bought Italian warehouses
One of the Italian warehouses

Location: Northern Italy, including Greater Milan, Turin and Padua
Sector: Logistics
Buyer: AXA IM – Real Assets
Seller: Carlyle Group
Price: Around €270 million
Quote: Anssi Halonen, Managing Director on the Carlyle Europe Realty advisory team, says, “This transaction exemplifies our strategy of investing in well-located, high-quality assets through successful asset acquisition and active asset management, supported by a strong market environment that has benefited from rapid growth in e-commerce. We are proud of what we have achieved with this platform and remain active in the Italian market.”

Offices in UK and Germany

The Goldstuck offices in Berlin
The Berlin offices

Location: Radius House, Clarendon Road, Watford, and Kaiserin-Augusta-Allee 112 & 113 (‘Goldstuck’) Berlin
Sector: Offices
Buyer: CLS Holdings
Seller: M&G Real estate (Radius House) and Deutsche Investment KVG (Goldstuck)
Price: £55.9 million excluding costs
Quote: Fredrik Widlund, Chief Executive Officer of CLS, says, “These acquisitions provide a combination of long-term, secure income and an opportunity to capture significant reversion through our active asset management approach.”

Nursing home portfolio

BNP Paribas REIM has bought German nursing homes
One of the nursing homes

Location: Five nursing homes and living assisted units in Germany
Sector: Healthcare
Buyer: BNP Paribas REIM Germany’s Healthcare Property Fund
Seller: AG Real Estate and Cardif Lux Vie partnership vehicle
Price: Undisclosed
Quote: Isabella Chacón Troidl, Chief Investment Officer of BNP Paribas REIM Germany, says, “The European healthcare sector is characterized by above-average growth opportunities and considerable stability. This well-positioned portfolio will give the fund access to the particularly interesting German healthcare market.”

Hotel U Palazzu Serenu

Hotel U Palazzu Serenu  in Corsica
The Hotel U Palazzu Serenu

Location: Corsica, France
Sector: Hotel
Buyer: Limestone Capital
Seller: Private owner
Price: Undisclosed
Quote: Benjamin Habbel, Managing Partner of Limestone Capital says, “We continue to see excellent opportunities in the boutique hotel sector across Europe with double-digit return potential. With recent major steps towards the full reopening of the international hospitality sector, we are confident that recovery following COVID-19 will be swift for premium assets in sought-after destinations.”

Rijnplein shopping center

The shopping center

Location: Alphen aan den Rijn, South Holland, Netherlands
Sector: Retail
Buyer: Partnership of private investors represented by JansenDeJong
Seller: Altera Vastgoed NV
Price: Undisclosed
Quote: Erwin Wessels, CIO of Altera, says, “With this sale, we are continuing our investment strategy, which is aimed at creating a portfolio consisting of supermarkets and neighbourhood shopping centers.”

If you have found our CRE deal summary for 10 December useful, take a look at last week’s round-up of European property deals.

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