Aussie mega-landowner sold
Australian cattle company S Kidman & Co, which owns more than 1% of the country’s landmass, 38,610 sq miles, has been sold for A$370.7m (£200m). An 80% stake is sold to a consortium led by Chinese entity Shanghai Pengxin Group. The remaining 20% was bought by ASX-listed Australian Rural Capital.
Rockspring buys French sheds
Rockspring has purchased a portfolio of four French logistics assets for €101m (£80m) from Foncière des Régions. The warehouses in Dunkirk, Salon-de Provence, Bollene and Chalon-sur-Saône cover 2.3m sq ft and are 100% let to tenants including DHL and Amazon. The facilities were bought on behalf of the TransEuropean VI fund.
UBS appoints Lai
UBS Asset Management’s Global Real Estate business has appointed Derek Lai as senior portfolio manager in China. Lai will be based in Hong Kong and lead GRE’s greater China team. He joins from Macquarie Capital, where he was co-chief officer of real estate for China.
Immofinanz eyes merger
Austrian firms Immofinanz and CA Immo are in merger talks to create a central and eastern European property company. Immofinanz has agreed to buy a 26% stake in CA Immo for €604m (£477m) from Russian firm O1 Group for €23.50 per share, a 35% premium.
BBVA offers Spanish logistics
BBVA has put up for sale the Detroit portfolio, made up of 441 logistics properties in Spain comprising 5.4m sq ft. BNP Paribas Real Estate has been appointed to sell the portfolio.
