Blackstone buys in Berlin
Blackstone Real Estate Partners has bought Treptowers 3 in Berlin, Germany, from Alstria Office REIT AG for €230m (£192m) for its BREP Europe IV fund.
The 960,000 sq ft building is fully let to insurance giant Allianz, which pays €13.9m pa and will leave at the end of its lease in mid-2019.
The deal allows Alstria to lower its net LTV from 49% to 44.9%.
Kwok appeal date set for 2017
The ex-chairman of Sun Hung Kai Properties has been freed from prison on a HK$10m (£972,000) bail.
Thomas Kwok is appealing to Hong Kong’s highest court over his 2014 conviction for corrupting a local official and subsequent five-year prison sentence.
A hearing is set for 9 May 2017.
Serviced offices for Shanghai
WeWork has opened its first Asian centre in Shanghai in a test of demand for co-working.
The serviced office firm opened on 1 July on the second and third floors of a renovated commercial building in the downtown Jing An district.
Dutch loan refi for Hansteen
Hansteen has refinanced two loans on its Dutch light industrial property portfolio with ING and AXA REIM.
It has borrowed a single loan of €145m (£121m) replacing two loans totalling €137.8m provided by ING and FGH.
Tishman debuts in Shenzhen
Tishman Speyer and Beijing-based Lenovo are to develop a 9bn yuan (£1bn) project in the Chinese city of Shenzhen.
It is the US developer’s first foray into the region. The scheme comprises 1.4m sq ft of offices and 780,000 sq ft of shops.
Lenovo will take around 40% of the office space.
