Goodman lets European sheds
Goodman Group has let around 10m sq ft of logistics space in nine countries in continental Europe during the first half of its 2016 fiscal year. The company, which reported a 98% occupancy rate across its portfolio, also has more than 7.7m sq ft of shed space under construction.
Refi for AEW’s French portfolio
AEW Europe has agreed a €420m (£325m) refinancing of its French logistics platform, Logistis. Dutch bank ING provided the loan on a sole underwriter basis. The portfolio comprises 55 assets, including the Corridor portfolio, which AEW Europe purchased in December 2015 from GLL Real Estate Partners.
Blackstone to sell US hotels
Blackstone is to sell a US hotels business to Chinese insurer Anbang for $6.5bn (£4.5bn). The private equity firm is selling Strategic Hotels & Resorts, which owns 16 luxury hotels across the US, to Anbang three months after its take-private at a $450m profit. Blackstone had planned to break up the portfolio prior to Anbang’s approach.
Manhattan office lettings rise
Manhattan’s office leasing activity totalled 2.2m sq ft in February, 3% above its five-year monthly average, according to CBRE. In the city’s Midtown market, leasing activity totalled 1.4m sq ft during the month, 10% above its five-year monthly average of 1.3m sq ft.
LA top US investment choice
Los Angeles is the top US target market for international commercial property investment this year, ahead of New York and Dallas. A CBRE report predicts that the private rented sector will be the most attractive US market, replacing 2015 favourite the industrial sector. Retail will take third place, according to the report.
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