Savills IM acquires Lodz logistics asset for €71m from IRE

Savills Investment Management has completed the acquisition of a 123,000 m2 logistics unit leased to Leroy Merlin in Piatek, near Lodz in Poland, from Invesco Real Estate. The purchase was made on behalf of Korean institutional investors managed by Vestas Investment Management for €71 mln.Leroy Merlin has consolidated its Polish...

Hines seals Stuttgart office sale to Arminius during lockdown

US developer-investor Hines has completed the sale of Stuttgarter Tor, an office asset in Stuttgart, Germany, on behalf of the Hines European Value Fund (HEVF). The 14,822 m2 office complex has been bought by investment management company Arminius, acting on behalf of German institutional investors, for an undisclosed price, after...

Angelo Gordon, APF strike again in Dutch market with two deals

A day after announcing the sale of a canalside office in Amsterdam, private alternative investment firm Angelo Gordon and investment manager APF International have revealed two further transactions in the Dutch market. The joint venture partners said on Tuesday that they have sold the Life office building in Utrecht (pictured),...

UK sees €2.3b leap in supermarket sales

Rocketing visits to UK supermarkets drove an almost £2 bn (€2.3 bn) leap in sales in the four weeks to 21 March, according to market research company Nielsen. As Britons stocked up on groceries ahead of the coronavirus lock down which came in on 23 March in the UK, they...

Heimstaden closes €44 mln Dutch housing deal during lockdown

Swedish residential landlord Heimstaden has added to its Dutch portfolio with the acquisition of 142 apartments for €44 mln from local investor DamBorg. The company said talks first started before the government had taken any nationwide measures, but the deal was closed very recently when the situation was as it...

RICS raises ‘grey rhino’ question in coronavirus talks

The Royal Institution of Chartered Surveyors (RICS) will be asking the property industry whether the Covid-19 crisis is 'a black swan or a grey rhino event?' at an upcoming webinar on the industry's supreme challenge. 'It goes without saying that this is an unprecedent shock to the economy and that...

Retail landlords moving closer to interest cover breaches

The growing number of retailers requesting rent deferrals, rent holidays or with-holding rent will turn attention to the pain landlords are sharing in the coming weeks. According to updates in the past few days, listed retail property landlords are collecting only roughly one-third of rent they would normally expect.The latest...

Invesco sells mixed-use Frankfurt asset to boutique investor

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JLL Germany’s CEO Timo Tschammler leaves

Timo Tschammler , JLL’s CEO Germany and member of the EMEA Strategy Board, has announced he is leaving the company in favour of ‘a new life chapter’. In an email statement to his business partners, friends and companions, Tschammler  said his operational duty at JLL has come to an end...

Wealthcap acquires pharmaceutical company HQ in Tübingen

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