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Deutsche Industrie buys €24M of assets; Gecina sells French restaurants for €20M

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Deutsche Industrie buys €24M of assets; Gecina sells French restaurants for €20M

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

Germany and Norway

* Deutsche Industrie REIT-AG paid a total of €23.6 million to buy three light industrial properties in Germany in separate deals. The properties are in Berlin, Duisburg and Halberstadt, the company said in a release.

* German developer Instone Real Estate Group AG and pension fund Bayerische Versorgungskammer are planning to construct a 250-unit residential complex in Stuttgart, Germany. The pension fund acquired the Stuttgart City Prag - Wohnen im Theaterviertel project for its superannuation funds for an undisclosed amount.

* Sweden-based Bonava AB is selling two German rental projects comprising a total of 181 apartments in Dresden and Leipzig to Industria Wohnen GmbH for approximately 475 million Swedish kronor.

Separately, the company said it is divesting a 94-unit rental apartment development in Bergen, Norway, for roughly 211 million kronor. The project is set to be handed over in the third quarter of 2020.

France

* Gecina sold for almost €20 million a portfolio of 16 restaurants leased mainly to the Léon de Bruxelles and Courtepaille restaurant chains in France. The deal takes Gecina's year-to-date property sales in 2018 to nearly €1.5 billion.

The French real estate investment trust came into possession of the roughly 11,500-square-meter portfolio as part of its merger with Eurosic, according to a release.

UK

* LXB Retail Properties PLC closed the disposal of its remaining retail investment in Sutton for a headline sum of £5.4 million.

Finland

* SRV Yhtiöt Oyj agreed to divest the first of the three five-story buildings at the Pressi Smart Premises campus in Vantaankoski under a deal with Julius Tallberg-Kiinteistöt Oyj. The building, with roughly 5,400 square meters of leasable space, is scheduled for completion by 2018-end, according to a release.

Russia

* Raven Property Group Ltd. settled an agreement for the purchase of a warehouse property and a 21.5-hectare adjacent land in Nizhny Novgorod. The company signed a 2.8 billion-ruble deal for the asset with an Amstar-managed fund earlier in December.

Additional coverage

Greystar, Inhabit end talks for £1B build-to-rent portfolio sale

Bonava to divest 1.75B-kronor Germany, Sweden apartments, proposes new chairman

Tritax Big Box REIT commits £147M to forward-funded logistics project in UK

UK Commercial Property REIT buys 5 UK distribution warehouses for £85M

Tritax EuroBox buys Polish logistics project for €55M

Joyce Guevarra contributed to this report.

As of Dec. 26, US$1 was equivalent to 9.07 Swedish kronor and 68.89 Russian rubles.