Grainger sells German homes
Grainger has sold its German property portfolio to Heitman for £94m.
The sale includes 1,600 rented homes in the Frankfurt Rhine-Main region and £52m of debt.
Heitman will pay £42m when the deal completes next month.
Grainger said the move would reduce its overheads by 10%.
Tokyo megatower planned
Kohn Pedersen Fox and Leslie Robertson Associates have unveiled plans for a mile-high skyscraper in Tokyo Bay, Japan.
The proposed Sky Mile Tower would reach 5,577 ft, more than double the height of the world’s current tallest building, the Burj Khalifa in Dubai.
Sky Mile Tower forms part of the Next Tokyo development, which is slated for completion in 2045.
Al Jazeera ends NYC lease
Qatari broadcaster Al Jazeera has agreed to pay $45m (£31m) to terminate its 85,000 sq ft lease at Boston Properties’ 250 West 55th Street development in Midtown, New York city.
Al Jazeera America launched in August 2013 and signed the 20-year lease in 2014 but the company announced last month that it would shut down its US operation.
Ares buys French outlet malls
Ares Management has bought a pair of designer outlet centres in France from Resolution Property for €200m (£155m).
The McArthurGlen-managed properties are in the Troyes and Roubaix regions and span 500,000 sq ft in total.
QIC grabs Forest Realty Trust
Australia’s Queensland Investment Corporation has bought a 51% stake in Forest City Realty Trust, the owner of a shopping centre in New York state, for around $750m (£519m).
The deal – QIC’s 11th in the US – includes development rights around the existing centre.
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