CBRE buys Malaysian stake
CBRE is buying a 49% interest in a Malaysian real estate services provider. CH Williams Talhar & Wong, WTW Real Estate and WTW Property Services will rebrand as CBRE WTW. It will be led by the current leaders of WTW.
Prime logistics rents rise
Global demand for e-commerce fulfillment centres fuelled a 2.8% year-on-year increase in prime logistics rents globally, according to CBRE’s Global Prime Logistics Rents report. Six of the top 10 markets with the highest growth were in the US, led by Oakland, California, with a gain of nearly 30%.
Virgin Active eyes Asia
Virgin Active is planning to add up to 30 health clubs in Singapore and Thailand over the next six years. It will invest £100m in as many as 20 clubs in Thailand, and £50m in eight to 10 clubs in Singapore. The company also plans to expand into Hong Kong and the Philippines.
Boston buys $500m office block
Boston Properties will pay around $500m (£343m) to acquire a 50% stake in the Colorado Center in Santa Monica from Blackstone Group. The six-building campus is in Silicon Beach, a stretch of oceanfront communities popular with tech companies. The acquisition is Boston’s first in southern California.
AXA buys €24m Italian shed
AXA Investment Managers – Real Assets, has bought a shed in Gorgonzola, Italy, from asset management company Polis Fondi Immobiliari for around €24m (£18.5m), on behalf of Columbus Real Estate Euro Fund.
