German property fund Hansainvest has bought 2 Hardman Street in Spinningfields, Manchester for £56.7 mln (EUR 63 mln). The property was sold by Legal & General (L&G) at a net initial yield of 6.75%. The 150,000 sq ft (14,000 m2) building, which was completed in April 2006, is currently let to Deloitte and The Guardian Media Group. L&G purchased the asset two years ago for a price of £86 mln.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
