Major office sales are still being completed, as our Deals summary 1 February shows with a substantial sale in Denmark. We also highlight deals involving industrial units in London, logistics in Warsaw and retail outlets in the Netherlands.
Denmark office sale completes scheme
Location and details: This 15,000sqm office scheme marks the completion of Frederiks Plads property project in Aarhus, Denmark, which includes housing, office and commercial premises.
Price: SEK 800 million
Quote: Marius Møller, Director of Real Estate at PensionDanmark, says, “The acquisition of this new Company House in Aarhus has secured a property with strong tenants and a premium location. This concept with flexible and sustainable office spaces is in high demand, and the acquisition brings the total number of Company Houses owned by PensionDanmark to six.”
Five London industrial units bought
Location and details: The Greater London units bought in separate transactions are 105,000 sq ft single unit in Weybridge, a 17,000 sq ft small-bay multi-let estate, an 18,000 sq ft single-let low site cover warehouse in Canning Town, a 40,000 sq ft single distribution unit in Sunbury and a 10,000 sq ft single-let unit in Park Royal.
Buyer: Valor Real Estate Partners
Price: £50 million
Quote: Jeremy Achkar, UK transactions lead at Valor, says, “This flurry of deals demonstrates not only our continued ability to source and execute transactions in a competitive investment environment, but also our willingness to deploy capital across the risk spectrum in different Greater London submarkets.”
New logistics unit bought off-market in Warsaw
Location and details: Western edge of Warsaw. It includes around 26,000 sqm of grade A, BREEAM-certified space in two buildings, an outdoor gym and leisure space for employees.
Quote: Lars-Henning Pylla, Fund Manager at AEW, says, “We are very pleased to have secured this state-of-the-art logistics facility which is directly in line with our mandate, given its resilient income characteristics, as well as the positive fundamentals underpinning both the prime logistics sector and Polish economy, which we believe should enjoy a strong post pandemic recovery. Sourcing and securing an asset of this quality through an off market transaction demonstrates our abilities in the logistics sector.”
Netherlands retail space sold
Location and details: Woonboulevard Westpoort in Amsterdam consists of 26,000 sqm of retail space let to a variety of homeware and DIY tenants. It is the final asset in the Cromwell Netherlands Diversified Partnership (CNDP).
Buyer: Lenferink Groep Zwolle
Seller: Real estate investor and manager, Cromwell Property Group and York Capital Management
Quote: Wouter Zwetsloot, Cromwell’s Head of Real Estate, Europe says, “CNDP has provided outstanding returns since its launch in 2014 and its success is a testament to the ability of our local investment team to source the right opportunities and work alongside our property team to increase the value of assets through active asset management initiatives.”
If you found the deals summary for 1 February useful, see our other deals round-up from 13 January.