Knight Frank names Spain head
Humphrey White has been appointed managing director of Knight Frank in Spain. He will replace Alberto Prieto, who is leaving after five years in the role and 20 years at the company. Prieto will continue to work at the firm as a senior adviser. White’s appointment is effective 30 April.
Credit Suisse to sell portfolio
Eastdil has been appointed to sell assets from the CS Euroreal fund and the CS Property Dynamic fund. The funds have been told by regulators that they must sell all their assets by the end of 2017. The portfolio consists of 13 shopping centres in the Czech Republic, Poland, Italy and Germany.
Weak economy impacts Asia
According to CBRE’s Q1 2016 MarketView, total commercial property investment turnover in Asia Pacific in the first quarter of 2016 declined by 36% quarter-on-quarter due to stock market volatility and a weaker economic environment. Asian capital remained active across the region with the completion of three big-ticket transactions in Greater China by Chinese investors.
New York Sony building sold
Developer Joseph Chetrit has sold the Sony Building at 550 Madison Avenue, New York City, for $1.4bn (£952m) to the Olayan Group, which is controlled by a Saudi family. Chetrit had planned to turn the 37-storey office into flats. Olayan Group has said it will operate it as an office.
Benson Elliot shops in Italy
Benson Elliot has purchased the Centro Commerciale La Meridiana in Bologna, Italy. The fund bought the shopping centre from TMW Immobilien Weltfonds. The asset consists of a 376,000 sq ft shopping centre with 42 retail units and a nine-screen cinema.
