Annaly buys debt rival
Annaly Capital Management, the largest US REIT investing in mortgage debt, is to buy rival Hatteras Financial Corporation for $1.5bn (£1bn). The $15.85 per share offer represents a premium of 24% to the 60-day average price and comprises both cash and shares.
Chinese look to Australia
Chinese buyers dominate the Australian property market according to Australia’s Foreign Investment Review Board. Chinese investors spent A$24.3bn (£13bn) in the year to June 2015, almost double the A$12.3bn spent over the previous year.
AXA buys stake in LA office
AXA Investment Managers – Real Assets has bought a 49% stake in 5900 Wilshire Boulevard in Los Angeles, in a joint venture with Pramerica Real Estate Investors. AXA bought its stake in the 425,000 sq ft office building from Pramerica and the Ratkovich Company. JLL acted for the sellers.
CBRE GI grabs Spanish sheds
CBRE Global Investors has acquired a 2.7m sq ft portfolio of 16 Spanish logistics assets from Metrovacesa and Parques Intermodales Gran Europa. The properties are on the A-2 motorway between Madrid and Barcelona and are 94% occupied. Aguirre Newman advised CBRE GI; CBRE advised the vendors.
US industrial supply shrinks
The availability of US industrial space has declined over the past 24 consecutive quarters to 9.2%, the lowest level since 2001, according to research by CBRE. This shrinking supply has pushed rents up by 5.3% during 2015 to $5.74 (£4) per sq ft, the firm reported.
