Two portfolios of new logistics projects across Germany were sold this week.
The first buyer was specialist P3 which acquired three recently developed distribution centres totalling over 200,000 m2 in Hanover, Leipzig and Magdeburg,
The second was HansaInvest, sourcing properties for a new Article 9 logistics fund. Its Hansa German Logistics Impact Fund paid DFI Real Estate €270 mln for six ongoing projects. DFI will keep a stake and develop/manage the portfolio.
In other portfolio deals, NorthStar and Ares bought a package of Dutch residential homes in a new joint venture together, while British Land announced it had agreed to sell six data centres and offices in London.
Real IS brought Hamburg’s 47,700 m2 Meile Center to market, priced at 9%. The sales tag is about €110 mln less than the investor paid for it 12 years ago.
Meanwhile Amundi pulled the sale of Project Blue, a portfolio of 10 good quality offices in cities around Europe, after testing market interest over the summer. While the portfolio didn’t sell, the asset manager may have discovered interest from potential buyers in individual buildings during the process.
It is believed that Amundi is keen to recalibrate its real estate sector weighting and shed offices. Many were bought in partnership with Korean and Finnish investors.
We also track the latest funds raising capital and new loans.