Global Trade Centre Real Estate (GTC) has signed the final agreement for the sale of the America House Building in Bucharest to PBW II Real Estate Fund for EUR 120 mln. GTC is the real estate subsidiary of Kardan, the Tel Aviv and Amsterdam-listed investment company. Kardan said it will realise a gain of about EUR 7 mln from the transaction, implying a yield of 5.5%.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
