ING Real Estate has bought its third asset from Gazeley’s Orbis portfolio for €20m.
Gazeley is still planning to sell the portfolio’s remaining nine assets after it failed to sell the whole portfolio at the end of last year.
Invesco was set to buy the portfolio, worth €170m, in November, but pulled out at the last minute.
ING had first refusal on the asset, just north of Paris, after buying two other assets, also in France, for €40m in January.
Of the portfolio’s remaining assets, five are in France, two in Germany, one in Belgium and one in Italy.
Meanwhile, LaSalle Investment Management’s Pyrenees portfolio could be split into two depending on which offer LIM accepts for the sale. The €200m portfolio has one large asset in France and three smaller ones in Spain. The split would be evenly distributed between the two countries.
LIM is expected to go into due diligence with one of the bidders this month and the sale is expected to close by the end of the quarter.
