Blackstone homes in on NY
Blackstone and Ivanhoe Cambridge are in talks to buy the 11,200-home Stuyvesant Town and Peter Cooper Village in east Manhattan, New York, for $5.3bn (£3.4bn). The 56-acre red-brick estate was bought by a Tishman Speyer-led consortium in 2006 for $5.4bn, but was subsequently taken over by creditors led by CWCapital Asset Management in 2010.
KIA backs Gaw in Hong Kong
The Korea Investment Corporation has emerged as the backer of Gaw Capital Partners’ $940m (£607m) purchase of the five-star InterContinental Hong Kong hotel. The deal cements a new sovereign wealth fund relationship for Gaw, which has a track record of investing with Korean pension funds and Chinese insurer Ping An.
AXA goes shopping in Milan
AXA Investment Managers – Real Assets has bought the Via Battistotti Sassi, 11, office complex in Milan for €33.5m (£24.6m) on behalf of its AXA REIM SGR fund. The two office buildings total more than 180,000 sq ft of lettable area, which is currently 96% let to 12 tenants.
CBRE GI buys sheds portfolio
CBRE Global Investment Partners has completed the purchase of a €350m (£256.8m) sheds portfolio including seven properties in France, Germany, Holland and Spain. The logistics properties span 6.5m sq ft and were acquired from a client of TH Real Estate, which will continue to manage the assets.
HRS checks into Bay Hotels
Hispania Real Socimi has bought an 80.5% stake in Bay Hotels & Leisure for €123m (£90.2m). The company’s portfolio comprises 11 hotels in Spain. The deal is the first for a joint venture between Hispania and operator Grupo Barcelo.
jack.sidders@estatesgazette.com
