M&G buys Madrid office
M&G Real Estate has bought a 375,000 sq ft office in Madrid’s central business district for €175m (£125m) from NZ Patrimonio SLU, which is being liquidated. The fund manager plans to refurbish the building on Calle Ríos Rosas, which it bought as part of its core European property strategy.
Uber hails San Francisco HQ
App-based taxi company Uber has unveiled plans for a new 423,000 sq ft headquarters in San Francisco’s Mission Bay. The SHoP Architects and Studio O+A-designed 11-storey complex at 1455 Third Street will house 3,000 workers.
AXA shops in Germany
AXA Real Estate Investment Managers has bought a 35% stake in Ruhr Park shopping centre in Bochum, Germany, for €231m (£164.9m). The stake was bought from Perella Weinberg Real Estate Fund I, which previously owned 50% of the centre in a joint venture with Unibail-Rodamco. Unibail, which will retain management of the centre, acquired the remaining 15% of PWREF’s stake as part of the deal, taking its holding to 65%.
CIC grows Australia portfolio
Morgan Stanley Real Estate Investing has sold a real estate portfolio managed by its Australian subsidiary Investa Property Group to China Investment Corporation for A$2.5bn (£1.2bn). The portfolio includes stakes in nine offices across Sydney, Melbourne and Brisbane. The acquisition makes CIC one of the largest commercial landlords in Australia.
Pears to drop NZ shops
Pears Group has appointed Colliers International and JLL to sell its portfolio of 19 New Zealand shopping centres for NZ$300 (£127.7m). The portfolio is leased to Progressive Enterprises, which operates 18 of the centres as supermarket brand Countdown and one as FirstChoice.
