TPG takes on TriGranit portfolio
Private equity firm TPG has bought the portfolio of central and eastern European developer TriGranit for more than €500m (£352m). The deal includes the company’s development and asset management platforms and a portfolio of prime Polish assets. The management team of TriGranit, which specialises in retail and office assets, will remain in place.
AXA Real Estate opens in Seoul
AXA Real Estate Investment Managers is to open a new office in Seoul, South Korea, led by head of business development Cho Yun Seok. AXA Real Estate intends to use the office to penetrate the Asian market and develop separate-mandate initiatives in the region.
Amundi buys Aqua assets
French asset manager Amundi has bought the €1bn (£700m) Aqua portfolio from German fund manager Union Investment. Aqua comprises 17 offices covering 3m sq ft, which are 96.6% let. Three-quarters of the portfolio is in the UK, France and Germany, with additional assets in Austria the Netherlands and Finland. It generates €60m annually from 145 tenants.
TIAA-CREF raises farm fund
TIAA-CREF has raised $3bn (£1.9bn) for a second global farmland investment fund, exceeding its $2.5bn target. The fund will buy assets in North and South America and Australia. Institutional investors include the Greater Manchester Pension Fund and the New Mexico State Investment Council.
IPUT confirms Dublin deal
IPUT has confirmed its purchase of a 70.8% interest in Harcourt Life Assurance Company’s Riverside One, Sir John Rogerson’s Quay, in Dublin for €80.5m (£56.9m). The 110,000 sq ft block is let entirely to McCann Fitzgerald and generates €5.2m annually.
