Chinese giants team up
Two of China’s biggest real estate developers, Dalian Wanda and China Vanke, have signed a “strategic co-operation framework” to collaborate on projects in China and globally, which will focus on the joint acquisition of land and co-operation on developments.
Google takes riverside space
Google is set to expand its Manhattan presence after signing a letter of intent to take around 250,000 sq ft at Pier 57 on the Hudson River at West 15th Street. The tech giant has signed up for the majority of the hangar-like building.
Thor readies platform launch
New York-based Thor Equities is set to launch a new crowdfunding platform to finance its development projects. The real estate-focused private equity investor is currently developing a new platform, which will be called Invest Thor, according to chief financial officer Michael Schurer.
Patrizia buys Scandinavian fund
Listed German property investor Patrizia Immobilien has bought a Scandinavian fund for €900m (£648m). The fund was jointly owned by Norwegian Boligutleie Holding III AS and the Swedish Hyresfastigheter Holding III Gul AB and comprises 13,500 flats in Germany and 500 in Sweden.
CPPIB takes real estate stake
Canada Pension Plan Investment Board has bought a 46.1% stake in Unibail-Rodamco’s German real estate platform mfi for €394m (£383.5m). The parties will form a strategic joint venture to grow the business.
Joint loan for Immofinanz
Bank Austria and Deutsche Pfandbriefbank have jointly provided a €300m (£216m) senior loan to Austrian listed firm Immofinanz Group. The proceeds are being used to refinance 38 office and residential buildings, mostly in Vienna, which total 2.3m sq ft.
