European hotel deals rise
Investment in European hotels totalled €3.7bn (£2.9bn) in Q1, the second-largest volume recorded in any first quarter over the past decade, despite transaction volumes dropping by 30% on Q1 2015. According to CBRE Hotels, the asset class expanded its share of total European real estate investment to 8%, cementing its position as a mainstream sector.
Poland set for record year
Investment volumes in Poland are expected to exceed €4bn (£3bn) this year, according to Savills. Around 20 transactions valued at a combined €504m were closed in Poland in the first quarter of this year.
Round Hill buys Dutch resi
Round Hill Capital has bought a residential portfolio in the Netherlands for €110m (£84m). It comprises 980 homes and was acquired from a number of private investors, including Grouwels Vastgoed. Grouwels Vastgoed was advised by Van Dijk & Cate Real Estate Agents.
Zurich looks at 4 WTC move
Swiss insurance giant Zurich’s US subsidiary is in talks to take 70,000 sq ft at Silverstein Properties’ 4 World Trade Center in New York. Zurich North America is consolidating from 170,000 sq ft at Brookfield Property Partners’ 1 Liberty Plaza, where its lease expires in May 2017. Staff will also be decanted to New Jersey.
CBRE GI snaps up Milan park
CBRE Global Investors has bought a logistics park in Milan for €24m (£18.8m) on behalf of its CBRE European Industrial Fund from AKNO Business Parks. The 380,000 sq ft park is fully occupied by national and international logistics firms.
