SINGAPORE: Thakral Corporation’s recently incorporated subsidiary, Thakral Umeda Properties Pte. Ltd. has added the Umeda Pacific Building, an 11-storey office building, to its portfolio of properties in Osaka, Japan. The building has a gross floor area of 9,179 sqm and net rentable area of 6,359 sqm. The fully-tenanted property is prominently and strategically located along…
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Etalon completes Fusion residential complex
LONDON: Etalon Group, the Russia based development and construction company, announces that it has completed the Fusion residential complex in the Vyborgskiy district of St Petersburg. The project has a total NSA of 14 ths sqm, including 10 ths sqm of residential area. Fusion is a nine-storey business-class building with underground parking and a built-in…
Phoenix Spree announces acquisition of Brandenburg Apartment Complex
LONDON, UK: Phoenix Spree Deutschland Limited has acquired an apartment complex in Brandenburg for €24.2 million. The acquisition will initially be financed by existing cash resources and assumes outstanding bank debt of €16.4 million. It is intended that this will be refinanced in the new year. The property is a former barracks, comprising 259 residential…
Safestay acquires hostels in Warsaw, Prague and Bratislava for €3.7mn
LONDON, UK: Safestay Plc, the owner and operator of an international brand of contemporary hostels, has acquired acquisition of three hostels in Warsaw, Prague and Bratislava from Dreamgroup Management E.C.P. Ltd for a total consideration of €3.7 million. It has increased Safestay’s network to more than 5,000 beds across 21 hostels, all centrally located in…
Sirius completes €44.5mn acquisition of Alzenau Business Park
LONDON: Sirius Real Estate has completed the acquisition of Alzenau Business Park, 34km east of Frankfurt am Main against a total purchase consideration of €44.5 million, including acquisition costs of €2.5 million. The acquisition will initially be funded using proceeds from recent asset recycling activity and will be injected into an existing facility in the…
Aire Valley sells commercial development land at Gateway 45 Leeds for £30.3 million
LONDON: The Aire Valley Land LLP has completed the sale of 43 acres of commercial development land at its Gateway 45 Leeds site to PLP for £30.3 million. Aire Valley is the joint venture between Harworth Group plc and Evans Property Group. The site has been acquired by PLP’s flagship investment vehicle, the PLP UK…
Newton Fallowell to acquire Lovelles Estate Agency for £2.0 million
LONDON, UK: Newton Fallowell Limited, a wholly owned Belvoir Group subsidiary, has agreed to acquire the business and assets of the estate agency business operated by Lovelle Estate Agency Limited and Lovelle Bacons LLP. The overall consideration for the acquisition is £2.0 million to be satisfied in cash from existing cash reserves. The Acquisition will…
Costain agrees to sell Alcaidesa Holding for €15.2 million
MADRID: Costain Alcaidesa Limited has agreed to the sale of Alcaidesa Holding S.A.U to Millenium Hotels Real Estate, a real estate investment fund based in Spain, for total cash consideration of €15.2 million. The disposal, which is to be effected by way of share sale, is subject to the satisfaction of certain conditions to completion…
Norwegian Property to acquire Lille Grensen 7
OSLO, NORWAY: Norwegian Property ASA has entered into an agreement to purchase the property Lille Grensen 7. Norwegian Property will purchase all shares in Grensen Investment AS, which is the owner of 100% of the shares in Lille Grensen 7. The agreed gross value for the property is MNOK 710. Takeover is estimated to take…
Primewest sells Chambers and The Tower for $47.4 million
BRISBANE: A fund managed by national property fund manager Primewest has sold the iconic Chambers building and an adjoining eight storey office building The Tower in Brisbane’s CBD for $47.4 million. The purchaser –the University of Queensland –plans to occupy the buildings as part of its CBD campus. The 130 year old Chambers building is…
Pakistan Property Show concludes at Dubai World Trade Centre
DUBAI: Pakistan Property Show (PPS) 2019 successfully concluded at the Dubai World Trade Centre in Dubai on Friday. It was organised by Pakistan’s largest property portal Zameen.com. Amjad Ahmad Ali, Consul General of Pakistan in UAE, graced the occasion as special guest on its second and last day.A total of 64 exhibitors offered property options…
Grainger to acquire PRS scheme at Capital Quarter, Cardiff for £57mn
NEW CASTLE: Grainger plc, the UK’s largest listed provider of private rental homes, has agreed to forward fund and acquire a 307 home, PRS development at Capital Quarter in Cardiff for c.£57 million. IM Properties, one of the UK’s largest privately-owned property companies, is the developer of the scheme and Winvic Construction Ltd is the…