Altaréa to buy Cap3000
French investor Altaréa is in exclusivity to buy the Cap3000 mall in France. The 40,000 m2 Côte d’Azur mall, worth between €300m and €350m, first went on sale in November last year, with Jones Lang LaSalle and HSBC co-mandated. French retail real estate company Aldeta had the asset valued at €341.9m in June last year.
Italian REIT eyes stake
Italian REIT Immobiliare Grande Distribuzione has agreed to sell a 20% stake in Porta Medicea, controlled by its 100%-owned subsidiary Larice, to local construction firm CMB for €13.1m. Porta Medicea is the owner of a mixed-use scheme to be developed on Livorno’s waterfront for more than €200m.
Vesteda issues bonds
Dutch residential property investment fund Vesteda has issued €350m AAA-rated notes from its Vesteda Residential Funding II BV programme. The deal represents the first European CMBS deal of 2010.
Debut deal for PropertyMatch
CBRE’s PropertyMatch platform has carried out the first online auction for an unlisted real estate fund. The transaction involved the sale of 112,400 units of the Blackrock UK Property Unit Trust. Around 50 interested parties logged on, said CBRE. Bidding started at March net asset value of £32.88 for all the units and closed at £34.20. CBRE launched PropertyMatch last September.
Robinson to advise Blackstone
Private-equity giant Blackstone has brought in former Lloyds Banking Group property boss Nick Robinson as an adviser.
