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Retail Estates buys 7 Belgian assets; Milan mixed-use property sells for €34M

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Retail Estates buys 7 Belgian assets; Milan mixed-use property sells for €34M

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

UK

* Civitas Social Housing PLC paid almost £3.9 million to buy two specialist supported living properties and one registered care asset. Inclusion Housing CIC and Falcon Housing Association CIC will manage the two specialist assets, while the registered property is set to be managed by Bespoke Supportive Tenancies Ltd.

* In a private deal, Stenprop Ltd. bought the Lombard Centre industrial estate in Aberdeen from Mayfair Capital for roughly £3.3 million, marking a net initial yield of 8.15%. The estate comprises 32,622 square feet of industrial accommodation across 10 units and is leased to six tenants.

Italy

* On behalf of five separate private and institutional sellers, Prelios Agency SpA divested the Corso Europa 22 building in Milan for approximately €34 million to a Prelios SGR SpA fund. The seven-story commercial and office property features a surface area of 2,700 square meters.

Germany

* Deutsche Industrie REIT-AG bought a production and logistics facility in Wismar for €3.3 million, at a net initial yield of 10.3%. The asset has a leasable area of nearly 12,000 square meters.

Belgium

* Retail Estates NV acquired six retail assets totaling 4,381 square meters in Genk and a 1,794-square-meter asset in Maasmechelen for a total investment value of approximately €9.8 million.

Russia

* Etalon Group Ltd. purchased rights to a land plot in St. Petersburg's Moskovskiy district for the development of an over 100,000-square-meter residential project. Work on the project, which will also include commercial and parking spaces, is expected to commence in early 2019.

Additional coverage

Blackstone completes £550M sale of London office asset

Aldar Properties completes 3.6B-dirham real estate buy

Investec Property Fund selling South African distribution center for 462M rand

St. Modwen in £54M deal to sell 34-asset UK portfolio to Hansteen

Aviva Investors pays £73M to buy UK development site

Joyce Guevarra contributed to this report.