International
Carlton Group Tapped to Sell Bulgarian Solar Property Portfolio
The Carlton Group has landed a contract for the sale of six green energy properties under construction in Bulgaria. The client, an experienced turnkey developer of photovoltaic solar assets, took the contract to Carlton with an asking price of €150 million, or approximately $190 million.
Brookfield Acquires Major London Office Portfolio for $829M
Brookfield Office Properties Inc. has made a major move into Central London as an office property owner with the purchase of interests in buildings totaling 884,000 square feet for $829 million (£518 million) from British property giant Hammerson, its first major foray into Europe.
Economy Watch: Homebuilders Haven’t Lost Confidence Yet
Builder expectations are modest but holding steady; investor relief over Greek election is short-lived.
Kennedy Wilson Takes Dublin Property, Eyes European Acquisitions
Kennedy Wilson has acquired the Alliance Building, a 210-unit building in Dublin, Ireland, along with its partner Fairfax Financial. The two firms purchased the property for $50.4 million from Grant Thornton.
TIAA-CREF Takes Berlin Shopping Center for $447M
In a joint venture with German shopping center developer mfi Management, TIAA-CREF has snapped up Gropius Passagen, a 1 million-square-foot asset — the largest mall in Berlin — for approximately $446.5 million.
IBM Renews 1.1 MSF Industrial Lease with Prologis in Mexico
Prologis Inc. has broken its own record in Mexico with the renewal of a nearly 1.5 million-square-foot lease with IBM at the Guadalajara Technology Campus in Guadalajara, Jalisco.
Simon, BR Malls JV to Develop Outlet Malls in Brazil
Simon Property Group has teamed up with BR Malls Participacoes, Brazil’s largest retail real estate company, to develop and own outlet centers there. Simon also announced a JV with Calloway REIT to begin construction on Toronto Premium Outlets in Canada.
Hines Global REIT Spends $131M on 1.8 MSF of Industrial Properties in Poland
With the purchase of a 1.8 million-square-foot logistics portfolio, Hines Global REIT has made its entrée into Poland. The REIT, sponsored by real estate investment firm Hines, acquired the group of four properties from ProLogis European Holdings for approximately $130.8 million.
Madison Spends $123M for 57 Percent Share in Iconic Frankfurt Office Complex
Madison International Realty of New York, together with its German subsidiary Madison Real Estate, has signed a purchase agreement for Morgan Stanley P2 Value’s 56.95 percent interest in the Trianon complex in Frankfurt — for a reported $123 million.
Cushman Names New CEO of EMEA
A year after being named chairman of the board of Cushman & Wakefield Inc., Carlo Barel di Sant’Albano is gearing up to take on another challenge for the world’s largest privately held commercial real estate services firm as he becomes CEO of the firm’s operations in Europe, the Middle East and Africa.