M7 launches retail fund
M7 Real Estate has launched a fund focusing on the German retail sector. It wants to grow the fund to €100m (£70m) of assets under management. Its first purchase is a portfolio of four supermarkets, three retail warehouses and a retail park totalling 380,000 sq ft for €46m – an 8.7% yield.
Shed seven for CBRE GI
CBRE Global Investment Partners has acquired a portfolio of seven European logistics properties for €346m (£244m) from TH Real Estate. The seven properties are in France, the Netherlands, Spain and Germany and are being sold on behalf of Warburg HIH and TIAA-CREF.
Spanish skyscraper up for sale
The Torre Espacio, the 650,000 sq ft skyscraper in the Cuartro Torres business district in Madrid, has been put up for sale and is expected to fetch more than €650m (£461m). Current owner Villa Mir Group has appointed Aguirre Newman to market the building. The tower is 85% let.
90 North buys Siemens HQ
90 North has acquired a newly built headquarters in Zoeterwoude, near Amsterdam, for €27m (£19m). Bought from developer VolkerWessels, the 100,778 sq ft building is fully let to Siemens Netherlands and occupied by NEM Energy subsidiary, on a remaining term of 11 years.
Goldman jv grabs Oz portfolio
Goldman Sachs, Grosvenor Group, and investment manager Property Link have bought a nine-property Australian portfolio for A$303.3m (£148m). The portfolio includes a 322,800 sq ft office at 320 Pitt Street, Sydney, for A$200m, which is fully occupied by Telstra. They also acquired eight industrial assets across Sydney, Melbourne, Perth and Brisbane with an average lease expiry of 3.3 years.
