Redevco buys in Luxembourg…
Redevco has bought the Hydrion retail park in Arlon, in Luxembourg, for €60m (£51m), a sub-6% yield, from TH Real Estate, on behalf of a client. CBRE advised TH Real Estate.
… and in Amsterdam
Redevco has bought the Reading Museum on Amsterdam’s Rokin Street from PVH Corp, paying €15m (£12.7m) for the 18,000 sq ft, five-storey building. Redevco was advised by Bouman Visscher van Limbeek; Appelhoven Real Estate Advisors advised PVH Corp.
AXA buys Milan offices
AXA Investment Managers – Real Assets has bought five office blocks across three buildings in Via Monterosa, 91 Milan, for €220m (£187m), representing a 6% yield. The 920,000 sq ft Renzo Piano-designed buildings were sold by Italian real estate fund MPO and bought on behalf of AXA Selectiv’ Immo and AXA CoRE Europe funds.
Madison sells Oslo complex
Madison International Realty has sold a 721,000 sq ft Statoil office complex in Oslo, Norway, for €419m (£356m), a 5.4% yield, to a club of local investors. It is let to Statoil until 2027. Madison was advised by JLL.
Rockspring to develop in Spain
Rockspring Property is to develop a logistics facility in Sant Esteve Sesrovires, near Barcelona. Goodman will provide 300,000 sq ft of warehouse space and 14,000 sq ft of offices. The scheme is to complete in March 2017.
