Brookfield buys City office
Brookfield Property Partners has bought Moorgate Exchange, EC2, from BlackRock’s Europe Property Fund III and CarVal Investors for £211m. The 217,465 sq ft building, developed in conjunction with Quadrant Estates, is partially let. Strutt & Parker advised Brookfield; the vendors were not advised.
Benson bites into Wolves mall
Benson Elliot has bought the Mander Centre in Wolverhampton from Mander Investments for £59m – a 6.5% yield. The 620,000 sq ft shopping centre includes 103 shops, 55,000 sq ft of offices and a 530-space car park. Jackson Criss advised Benson Elliot; Cushman & Wakefield acted for Mander Investments.
TH Real Estate swallows pubs
TIAA Henderson Real Estate has bought eight Spirit pubs from Cerberus Capital Management, for £54m. CBRE and Christie & Co acted for the vendor; JLL and Davis Coffer Lyons acted for TH Real Estate.
Madison makes City debut
Madison International Realty has bought a 50% stake in the Houndsditch Estate, EC3, from TIAA Henderson Real Estate. The stake in the 326,000 sq ft estate is valued at £200m. DTZ advised TH Real Estate; BNP PRE acted for Madison.
Schroder to fund Dept W
Schroder Real Estate Investment Management has agreed a joint venture to fund the next phase of the £50m redevelopment of the Dept W media hub at 69-89 Mile End Road, E1. Resolution bought the 100,000 sq ft block last year and now plans to extend it by 25,000 sq ft. Allsop advised Resolution Property; Hatton Real Estate advised Schroders.
IDI Gazeley in £95m sheds deal
IDI Gazeley has bought a portfolio of logistics assets from CarVal Investors for around £95m. The 2.4m sq ft portfolio comprises 11 buildings in France and two in Hungary.
