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UniCredit seeks €1.2B sale of Munich asset; Aviva sells Glasgow property


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UniCredit seeks €1.2B sale of Munich asset; Aviva sells Glasgow property

* Italian banking and financial services company UniCredit SpA is reportedly considering a sale of its Tucherpak campus in Munich for roughly €1.2 billion, according to PropertyEU. The sale is being considered through UniCredit's German subsidiary HypoVereinsbank.

* Aviva sold the 123 St Vincent St. office asset in Glasgow to Longmead Capital for £37.8 million, Daily Business reported. The deal, representing a 7.57% yield, is Longmead's first in Scotland. The property provides 134,517 square feet of office space across nine floors and is fully let to tenants including KPMG, Hutchinson 3G and The Secretary of State for Communities and Local Government.

UK and Ireland

* A joint venture between U.S.-based Prologis Inc. and Norway's sovereign wealth fund acquired a logistics property in Greenford, U.K., from RM Coleview 1 Ltd.

Norges Bank Investment Management paid £35.1 million for a 50% ownership stake in the property, which has a total leasable space of 20,519 square meters. The industrial real estate investment trust, which bought the remaining 50% stake, will be the asset manager.

* CBRE Group Inc. said it has been appointed to advise bookmaker William Hill on the planned sale of up to 600 shops across the U.K.

* DWS is forward funding a pre-let distribution warehouse project in the U.K.'s East Midlands region on behalf of one of its European institutional real estate funds, IPE Real Assets reported. DWS will buy the warehouse project in the Midlands Logistics Park in Corby, Northamptonshire, for an undisclosed amount from Corby Land and Development.

Construction is expected to conclude in 2020.

* U.S.-based Heitman bought a residential portfolio near the city center of Dublin for €46 million, Irish Independent reported. The 27 properties total 214 apartments and three retail units. The deal reflects a gross initial yield of 7.2%. The properties were fully let when they were placed on the market earlier in 2019.


* An affiliate of private equity firm H.I.G. Capital LLC purchased an approximately 29,000-square-meter office complex in Lyon for an undisclosed amount. The property, which is expected to be delivered in March 2021, is 70% pre-let to a French corporate tenant on a long-term basis.

* CBRE Global Investors bought a 4,370-square-meter office building on Paris' Avenue Ledru Rollin from MGEN for an undisclosed price, IPE Real Assets reported. The 1920s-built property was acquired on behalf of a separate account client and a number of short- and medium-term asset management initiatives are being planned to increase its value.

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