Industry News

UK financial services company Legal & General has sold its UK house builder, Cala Group, to a consortium led by Sixth Street Partners and Patron Capital for £1.35 bn (€1.6 bn). Legal & General will receive £1.16 bn (€1.37 bn) in cash from the sale, with half of that amount payable upfront and the remainder spread out over five years. Previously, Legal & General and Patron Capital were joint owners of Cala. Legal & General acquired the 52% in Cala...

EQT Exeter has acquired a portfolio of logistics assets in Spain from GLP Capital Partners' European development fund. Financial details were kept confidential. The three fully-let Grade A Spanish logistics assets are located in Valls, Illescas and Guadalajara and provide 113,000 m2 of space. Source: PropertyEU 19 Sep 2024

Invesco Real Estate, the global real estate investment business of Invesco, has acquired a prime, modern complex of 34 terraced houses on a 5,000 m2 residential area in Marbella, Southern Spain. The seller was Dazeo, the residential joint venture created by Dazia Capital and Eurazeo Patrimoine. The recently redeveloped Bahia residential complex of Les Roches, fully refurbished and upgraded in early 2023, sits in a wealthy area of Marbella. It is fully let on a long-term lease to the hospitality...

European logistics property developer Panattoni has closed a £625 million (€743 million) development loan facility, which will support its strategic growth in the UK. The facility will enable Panattoni to put into production a new wave of speculative warehousing, where it is targeting areas of undersupply. In 2024, Panattoni acquired several new sites, adding a further 2 million square feet of industrial space to its current speculative-build programme of 3 million ft2. The facility was arranged by JP Morgan with...

Hines has acquired a Booker Cash & Carry warehouse from Leopard Capital for £6.45m. Leopard acquired the 41,802 square foot warehouse, which is located at Salfords Industrial Estate in Redhill, for £5.05m in 2019. The asset is let to Booker for a further 2.4 years to earliest expiry at a rent of £9.48/ square foot. Source: BE News 19 Sep 2024