Starbucks to open in Italy
Starbucks has announced plans to open its first Italian coffee shop in Milan in early 2017, and hopes to open more locations in the country. Starbucks will partner with Percassi Group, a Bergamo-based firm that will operate Starbucks’ Italian stores as a licensee of the brand.
Dalian Wanda secures Paris deal
Dalian Wanda has agreed a deal with France’s Immochan to help develop a €3bn (£2.4bn) leisure project on the outskirts of Paris. Dalian Wanda will co-fund EuropaCity, a leisure, retail and entertainment project due to be completed by 2024, with construction on the 80-acre site starting in 2019.
Actis exits Plateno Hotel Group
Actis has sold a stake in Chinese budget hotel chain Plateno Hotel Group to Shanghai JinJiang International Hotels Development. It paid RMB10 bn (£1.1bn) for the 81% stake in JinJiang. Following the deal, JinJiang Group will become one of the top five hotel operators in the world, with more than 6,000 hotels in 55 countries.
Shutterstock expands Empire
Digital image company Shutterstock has expanded its office space at the Empire State Building in Manhattan. It has taken an additional 25,300 sq ft on a new floor, taking its total space at the tower to more than 100,000 sq ft. Newmark Grubb Knight Frank represented Shutterstock; the landlord was unrepresented.
Final close for CBREGI fund
CBRE Global Investors has made an $840m (£605m) final close on a European co-invest fund. Investments will focus on single-asset and portfolio deals using joint venture and co-investment. It has already invested $231m across three deals, including a 4.8m sq ft logistics portfolio and two Madrid high street retail assets.
