Starwood to open in Cuba
Starwood Hotels & Resorts is to become the first US-based hospitality company to open a branch in Cuba in nearly 60 years. The group has received authorisation from the US Treasury to operate three hotels in the country: Hotel Inglaterra, Hotel Quinta Avenida and Hotel Santa Isabel.
Invesco buys Spanish retail
Topland and Spanish retailer Eroski have sold 11 assets comprising large supermarkets and shopping centres in Spain’s Basque and Navarra regions to Invesco Real Estate for €358m (£280m). The properties were 50% owned by Topland Group and 45% owned by operator Grupo Eroski, with a private investor owning the remaining 5%. Cushman & Wakefield and BBVA advised the joint venture.
Carter Jonas in Dutch link-up
Carter Jonas has formed a strategic alliance with Dutch property agency Van Gool Elburg as part of a drive to boost its European business. Van Gool Elburg advises public and private sector clients including Credit Suisse Asset Management, Gazprom and KPMG.
Venn launches resi lender
Venn Partners has launched a Dutch residential mortgage lender in the Netherlands and plans to raise €2bn (£1.5bn) annually by the end of 2018. Venn Hypotheken will be based in Breda and will finance its loans through a range of long-term financing strategies, including residential mortgage-backed securities, fund products and direct investment.
Correction: Kajima Corporation
The UK Cities Investor Guide (12 March, p17) stated that Kajima Corporation is Singapore-based. The company is based in Japan. We apologise for any confusion caused.
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