China cuts first-time deposit
China’s central bank has cut the minimum deposit requirement for first-time buyers from 30% to 25% in a bid to shore up the country’s ailing housing market. The announcement sent beleaguered Chinese property shares higher on the stock market.
Gazeley goes Dutch
IDI Gazeley has entered the property market in the Netherlands by acquiring 13 logistics warehouses in the country. The portfolio was purchased from Dutch fund Eurindustrial for around €110m (£80m). It covers a total of 2m sq ft across sites located in Amsterdam, Venlo and Venray.
Glacis-Galerie sold for €145m
CBRE GI has purchased the Glacis-Galerie shopping centre in Bavaria for €145m (£105m) for a separate account. The 294,259 sq ft asset in Neu-Ulm contains 90 shops let to tenants including Zara, Media Markt and C&A. The centre, which opened earlier this year, was developed by a joint venture between Procom and OFB.
Anbang buys Toronto offices
China’s Anbang Insurance has bought a Toronto office building from Brookfield Asset Management, paying around C$110m (£55.4m). The property, known as the HSBC Building, is located at 70 York Street in the city’s financial district and was built in the 1990s. It comprises 225,000 sq ft, arranged over 17 storeys.
Meyer Bergman does Oslo deal
Fund management firm Meyer Bergman has agreed a NKr5.3bn (£420m) deal to buy 11 properties in the centre of Oslo from Søylen Eiendom and Madison Realty International. The deal comes as Meyer Bergman nears completion of a €900m (£665m) fund raise for a new retail-focused investment vehicle.
