Thor hammers out Paris deal
New York-based Thor Equities has paid around €70m (£51.4m) to secure 102 Avenue des Champs-Elysées in Paris.
The 7,500 sq ft block includes the Le Queen nightclub as well as offices and shops.
It is the firm’s second purchase on the famous French street, after it paid €330m for numbers 65-67 in 2013.
Chinese house prices fall again
House prices fell further in 66 of 70 Chinese cities watched by the National Bureau of Statistics in February.
Prices rose in just two cities and stayed the same in the remaining two.
Rabsky on song for Broadway
Rabsky Group has lodged plans to build a 777-flat development on New York’s Broadway Triangle.
Sitting between the fashionable Williamsburg, Bushwick and Bedford-Stuyvesant districts, the site is currently occupied by industrial buildings and vacant lots.
The project’s eight buildings would rise to 10 storeys and include 30,000 sq ft of shops.
MStar in European shed spree
A joint venture between M7 and Starwood Capital Group has acquired 17 Dutch and German light industrial properties for €74.5m (£54.1m).
MStar Europe bought nine sheds in Germany, with two more pending completion, and six in Holland, covering 1.9m sq ft, from multiple owners.
M7 will manage the assets.
African growth moves out of oil
Non-commodities markets such as manufacturing, agriculture and construction are driving growth in Africa, according to Knight Frank’s latest Africa Report.
Current growth markets Nigeria and Kenya are expected to slow in 2015 as oil prices decline, with non-commodity-driven economies, such as Ethiopia, capitalising.
