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» Chronological View: " Retail " «

Stockmann to sell Nevsky Centre in St. Petersburg for €171 million

Stockmann plc has signed an agreement to sell its Nevsky Centre shopping centre property in St. Petersburg to PPF Real Estate for a purchase price of €171 million. The value of the Nevsky Center property in the balance sheet on 1.1.2018 was €181 million. The transaction includes Stockmann’s fully-owned Russian subsidiary, OOO...
Tuesday, 16. October 2018

KD Funds and Peakside Capital acquire Arkadia shopping centre for €16.2 million

KD Adriatic Value fund, Special Investment Fund, in partnership with Peakside Capital, has completed the acquisition of the Arkadia shopping centre in Domžale for €16.2 million. The purchase will be the third acquisition undertaken by the fund following the purchase of the Tivoli Centre office building and the south wing of t...
Monday, 15. October 2018

Allianz and Hudson Pacific Properties form joint venture to acquire Ferry Building

Allianz has expanded its allocation to the US real estate sector with the acquisition of a leasehold interest in the historic Ferry Building in San Francisco through a joint venture with Hudson Pacific Properties for USD291 million (€249 million). The building is being acquired from Equity Office, an affiliate of The Blacksto...
Monday, 15. October 2018

Orchard Street acquires multi-let Fitzrovia freehold for £38.5 million

Orchard Street Investment Management has completed the acquisition of 27-35 Mortimer Street, a mixed-use office and retail building in London’s Fitzrovia, for £38.5 million (c. €43.7 million) from Great Portland Estates. The purchase price reflects a net initial yield of 3.90% and the acquisition was made on behalf of St. Jam...
Monday, 15. October 2018

Hugo to open first store outside London at Bullring

The Bullring Estate has announced that German fashion group Hugo Boss will launch its first Hugo standalone store outside of London, and second in the UK, in November 2018. The new 3,000 sq ft Menswear only store will carry the latest Hugo Autumn/Winter 2018 collection, with tailoring at its core and a strong casual influence...
Friday, 12. October 2018

Polestar chooses Norway to lease first global retail space

Polestar, the standalone electric performance brand from the Volvo Car Group, has agreed to lease its first global retail space at Ovre Slottsgate 7 in Oslo, Norway. Savills and local partner Malling & Co advised Polestar on the deal.
Friday, 12. October 2018

Major deals drive retail investment market

Of the approximately €8 billion allocated to the German retail investment market in the first three quarters, around €4.1 billion was attributable solely to the third quarter. The investment volume in the first three quarters nevertheless declined by 11 percent in comparison with the dynamic year-earlier period. This is the c...
Friday, 12. October 2018

Generali RE enters Nordics property market with Copenhagen acquisition

Generali Real Estate S.p.A. has completed, on behalf of Generali Group’s GEIH (Generali Europe Investments Holding) fund, the acquisition of a prime high-street retail asset in central Copenhagen. This transaction marks the first direct asset acquisition ever closed by the company in the Nordics real estate market.
Wednesday, 10. October 2018

KKR, IGIS and NPS to acquire prime real astate asset in Seoul

KKR and IGIS Asset Management have made an joint investment along with the National Pension Service of Korea (NPS) to acquire a mixed-use real estate project under development in the Gangnam Business District (GBD) in Seoul. The project, to be purchased from a consortium led by local engineering firm Daor E&C, is expected to ...
Wednesday, 10. October 2018

UKCM lets retail unit to Dreams at St George’s Retail Park in Leicester

UK Commercial Property REIT Limited (UKCM) has let a 5,000 sq ft retail unit at St George’s Retail Park in Leicester to Dreams. Dreams has agreed to a 10 year lease at £20 (c. €23)per sq ft, in line with ERV, with an open market, upwards only rent review at year five. The new store is expected to open in late 2018 and will jo...
Wednesday, 10. October 2018

Ares Management and Redevco’s Iberian Joint Venture Relaunches Mercado de San Miguel

Redevco Iberian Ventures, the joint venture between real estate funds managed by global alternative asset manager Ares Management and pan-European retail real estate investment management company Redevco, has relaunched Mercado de San Miguel, the renowned covered gastronomic market in San Miguel Plaza in the historic center o...
Tuesday, 9. October 2018

AEW acquires €22mn prime high street retail asset in Rome

AEW has acquired a prime high street asset located on a key shopping street in central Rome on behalf of the Europe City Retail fund. The €22mn investment marks the fund’s second acquisition in Rome and its fourth in the Italian market, where the value of the fund’s assets now exceeds €100mn. The asset, which is on the presti...
Tuesday, 9. October 2018

Chinese tourism driving dominant high street retail in Milan, Rome and Paris

M&G Real Estate has released its latest European Outlook report, providing a comprehensive, cross-sector review of prospects and performance across the continent. Among the key takeaways, the report states that rental growth in the retail sector accelerated in Q2 2018, led by Paris (6.8%), Prague (5%) and Madrid (3.7%). With ...
Monday, 8. October 2018

Hammerson sells Highcross stake for £236m

Hammerson plc has exchanged contracts for the sale of a 50% stake in Highcross shopping centre in Leicester for £236m. This represents a 5% discount to December 2017 book value allowing for capex associated with the proactive reconfiguration of the former House of Fraser store. The deal creates a new £472m joint venture with...
Monday, 8. October 2018

TH RE acquires ‘Project Iconic’ in Morland Mixité Capitale in Paris

TH Real Estate, on behalf of the Cityhold Office Partnership (CHOP), has acquired an iconic development covering 28,262 sq m (304,210 sq ft) in the Morland Mixité Capitale Parisian urban regeneration development, located in the heart of Paris, from Société Parisienne du Nouvel Arsenal, represented by Emerige.
Monday, 8. October 2018

Melburg Capital swoops on £10 million off-market acquisition in Bristol

Melburg Capital has acquired a 65,000 sq ft mixed-use regeneration opportunity in Bristol city centre. This transaction takes Melburg’s acquisitions to £330 million (c. €375.2 million) in the past 15 months. The site, at 15-33 Union Street was purchased off-market from a UK institutional investor and is the latest strategic a...
Monday, 8. October 2018