Logistics jv targets Korea
CPPIB has joined forces with Dutch asset manager APG and Chinese logistics firm e-Shang to form its first South Korean logistics venture. The jv will develop and own institutional-grade logistics warehouses across Korea, with each partner putting in a minimum of $500m (£330m) of equity.
Deka banks on Amsterdam
German open-ended fund manager Deka Immobilien has bought The Bank building in Amsterdam for €275m (£193m) from a Dutch family office. The 280,000 sq ft office building has is fully let to tenants including Booking.com and BNP Paribas.
China Life shops in Hong Kong
China Life has bought an office-led tower development in Hong Kong’s Kowloon district for HK$5.86bn (£796m) from Wheelock & Co. The deal comprises the 357,000 sq ft office tower and a 36,000 sq ft two-storey retail block at One Harbour Gate, Hung Luen Road, Hung Hom. It is expected to complete in 2016. Savills advised Wheelock
Dalian Wanda goes down under
Dalian Wanda has bought two properties in Sydney harbour in its plans for a $1bn (£660m) mixed-use development. It bought Gold Fields House office block for A$415m (£216m) from Blackstone and paid AXF and Ever Bright $A73m (£38m) for adjacent Fairfax House. Wanda expects to begin development in 2017.
JV to buy German portfolio
Pramerica Real Estate Investors and Qatar investment bank QInvest have formed a joint venture to buy 16 retail properties across Germany. The portfolio, totalling more than 1.5m sq ft, is anchored by major supermarkets and homeware outlets. US-based Pramerica, the property investment management and advisory business of Prudential Financial, will act as the portfolio and asset manager of the properties.
