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Valor Real Estate Partners LLP (Valor) has acquired, on behalf of its joint venture with QuadReal Property Group (QuadReal) two prime last-mile #logistics sites in Barking and Enfield, #London, with a total GDV of €71.4m. Both properties were acquired off-market. In Enfield, North London, the joint venture has acquired, Trafalgar Trading Estate, Enfield’s pre-eminent multi-let #industrial park. The c. 7,380m2 #property benefits from strong specifications and totals 11 units across three terraced buildings. It is 92% occupied by a range of trade counter and last-mile businesses, with an average lease term of two years. Located at the base of the M1 motorway and A10 trunk road, it provides access to approximately 6.4 million people within a 60-minute drive. In Barking, East London, the joint venture has acquired a currently vacant 3.49-acre site, where it intends to develop a best-in-class build-to-suit last-mile distribution hub. Occupiers will benefit from excellent connectivity via the nearby A13 and North Circular, as well as Barking’s position as one of London’s major industrial centres, where ongoing #residential-led regeneration projects, including Barking Riverside, are set to continue eroding supply. Jeremy Achkar, Senior Vice President at Valor, said: “The off-market purchase of the Trafalgar Trading Estate represents our first #acquisition in Enfield. It is one of London’s key industrial submarkets, and we look forward to growing our presence there in the coming years.” Timour Wielemans, Vice President at Valor, commented: “We are thrilled to have secured this prime 3.5-acre site, which extends our London #development pipeline past 700,000 sq ft (c. 6.5ha) and where the intention is to deliver our first build-to-suit scheme. Leveraging our new in-house development team, we are well-positioned to take on increasingly complex projects and deliver bespoke products that align with the needs of our occupiers.” Thomas Blangy, Senior Vice President at QuadReal Property Group, said: “These acquisitions align with our #strategy of capitalising on high-growth urban logistics markets where supply constraints and strong demand present opportunities for long-term value creation. London’s last-mile logistics sector continues to offer solid fundamentals, and through our partnership with Valor, we are well-positioned to generate #sustainable returns by delivering strategically located assets that meet occupier needs in these key submarkets.” The joint venture was advised Altus and SBY on the Barking acquisition.

💼 Major Acquisition on Orchard Road: What It Means for Property Prices in Nearby Districts, Including Sophia! Exciting news broke recently: Hotel Properties Ltd (HPL) acquired the Concorde Hotel and Shopping Mall on Orchard Road for a striking S$821 million! This transaction not only underlines the growing value of Orchard Road properties but could also trigger a ripple effect on property prices in surrounding areas, including the vibrant Sophia precinct. As Singapore's iconic Orchard Road continues to attract investments, we’re seeing a trend of rejuvenation along this historic retail belt. The Concorde purchase reflects confidence in Orchard Road's future appeal, which could spark further demand and appreciation for properties nearby. Why does this matter for Sophia? With renewed interest in Orchard and substantial redevelopment underway, nearby districts like Sophia stand to benefit from increased investor confidence and proximity to Orchard’s upscale developments. Increased foot traffic, more vibrant commercial activity, and enhanced accessibility could make Sophia an attractive spot for property buyers and renters seeking proximity to Orchard's transformation. As demand grows for both residential and commercial spaces near Orchard, Sophia’s positioning makes it a viable alternative with competitive pricing—though we could see upward price adjustments in the near future. Do you think this acquisition will significantly impact the property landscape around Orchard Road? Let’s discuss!

RioCan Real Estate Investment Trust completed $157.1 million of acquisitions in the first quarter of 2024, reported Connect CRE. "The acquisition amount includes a $40.9-million deferred density payment, to be paid as various development milestones are met, said RioCan in a news release accompanying the REIT’s quarterly report." "Toronto-based RioCan said it also leased out 1.33 million square feet of space, including 482,000 sf tied to new deals. The leases include several grocery tenancies." "Meanwhile, the REIT re-leased six of 10 locations that were vacated due to two tenants’ business failures in the previous quarter. RioCan did not identify the tenants but they were known to be Bad Boy Furniture and rooms + spaces." https://lnkd.in/d_zur26u #canada #retail #leasing #sales

Excited to announce B&D Holdings recent acquisition of 665,000 square feet in the Norfolk Industrial Market, increasing our Norfolk Market holdings to 1.7M square feet. We remain active across the country with 7 industrial assets currently under contract and more in the works. PRESS RELEASE B&D Holdings Expands Industrial Portfolio in Norfolk with Strategic Acquisition Norfolk, VA - B&D Holdings, a leading national real estate investment and development firm headquartered in Northern New Jersey, has recently completed the acquisition of a prime 665,000 square foot shallow bay industrial portfolio in the vibrant Norfolk Port Market of Virginia. This strategic move underscores B&D Holdings' commitment to expanding its presence in key industrial markets. The acquired portfolio comprises five buildings, at a 95% occupancy rate at the time of closing and housing a diverse mix of 15 tenants. This acquisition aligns with B&D Holdings' strategy of investing in high-demand, high-growth industrial assets. Situated within the dynamic Norfolk Port Market, which is renowned as one of the fastest-growing ports in the nation and the third-largest on the East Coast, these properties enjoy unparalleled advantages. Notably, the Port of Virginia's status as the deepest port on the East Coast further enhances the strategic value of this investment. Commenting on the acquisition, Martin Segal, Founder and CEO of B&D Holdings, stated, "The properties benefit from high barriers to entry for competing products, an attractive average suite size below 50,000 square feet, and the robust Port and Defense Industry in the region." This latest addition expands B&D Holdings' shallow bay and IOS Industrial portfolio in Hampton Roads to 1.7 million square feet, with a significant portion acquired within the last 36 months. "We are witnessing strong tailwinds in the leasing market across our Norfolk area portfolio and are delighted to add to our competitive warehouse space offerings," remarked Robert Logan, Principal at B&D Holdings. As the investment arm of the Segal Family Office, B&D Holdings boasts a diverse national portfolio, comprising over 230 assets totaling more than 9.0 million square feet, with a focus on shallow bay and IOS properties. Over the past 24 months alone, B&D has executed transactions exceeding $500 million, including strategic acquisitions and ground-up developments. This strategic acquisition underscores B&D Holdings' position as a leader in the industrial real estate sector, leveraging its expertise and resources to capitalize on evolving market opportunities and deliver value to its stakeholders. Leasing has been awarded to the Cushman and Wakefield Thalhimer team led by Geoffrey Poston, SIOR. Thank you to Jon Carpenter, Graham Savage, Brad Geiger and their teams for the support in getting this across the finish line. Martin Segal Robert Logan Danny Harrison Eric Robison Bo McKown Dawes Milchling James Check #PortofVirginia

Great for our client Starlight Investments as they acquire three schemes totalling 1,541 new #BTR homes in #Manchester and #Basildon.   Rund is pleased to be providing pre- and post-contract Technical Due Diligence, Principal Consultant, and Clerk of Works services across the three landmark developments, following on from our existing portfolio of work with them across sites in Dartford, Liverpool, Manchester, and Ashford, totalling a further 1,100+ BTR units.   Each of the new units will boast extensive high-quality amenities including co-working areas, gyms, and outdoor terraces, along with numerous sustainability features. Read more at BTR News below 👇   #BuildtoRent #Starlight #TechnicalDueDiligence #PrincipalConsultant #ClerkofWorks #Acquisition #BuildingStrongerOutcomes

CapitaLand Integrated Commercial Trust (CICT) plans to acquire a 50% interest in Ion Orchard and Orchard Link from CapitaLand Investment (CLI). The agreed property value for the 50% stake is S$1.85 billion. The total acquisition outlay is estimated at S$1.1 billion after adjustments. Financing: + CICT intends to finance the transaction through a private placement and a preferential offering. + The aim is to raise gross proceeds of at least S$1.1 billion. Estimated issue prices: + Private placement: S$2.038 to S$2.091 per unit + Preferential offering: S$2.007 per unit + CLI has committed to fully subscribe to its entitlement in the preferential offering. Timeline and Strategy: + Expected completion: Q4 2024, subject to unitholder approval. + Described as a "transformational move" in CICT's strategy. + Aims to capture the luxury retail segment in Singapore. Financial Impact: + The acquisition is expected to be immediately accretive to CICT's distribution per unit (DPU). + Projected H1 FY2024 DPU accretion of 0.9% (from S$0.0543 to S$0.0548). CLI's Perspective: + The divestment demonstrates CLI's support for CICT. + Proceeds will be used to diversify CLI's portfolio and establish new fund products. + Aligns with CLI's asset-light strategy to recycle assets and grow funds under management. Ion Orchard Details: + Currently held in a 50:50 joint venture between CLI and Sun Hung Kai Properties Limited. + Eight-storey mall with about 57,935 square meters of net lettable area. + 96% committed occupancy rate as of end-June 2024. This acquisition represents a significant move in Singapore's commercial real estate market, potentially strengthening CICT's position while allowing CLI to pursue its strategic objectives. #REITs #Growth #Strategic #Investment #RealEstate #Acquisition #LuxuryRetail #ShoppingMall #Singapore I The Business Times I SPH Media I Michelle Zhu

Valor Real Estate Partners LLP (Valor) has acquired, on behalf of its joint venture (JV) with QuadReal Property Group (QuadReal), a global #realestate investment, operating and development company, a newly developed #logistics asset, in Hoofddorp, the #Netherlands, from Van Dijk Groep (VDG). It takes Valor’s #portfolio in the Netherlands to c. 42,000m2, across three assets. Completed in Q3 2024, the 6,000m2, Grade-A #property is fully let to Kerry Logistics, a leading Hong Kong-based logistics firm, on a seven-year lease. Hoofddorp is one of the most established logistics hubs in the Netherlands. The property is strategically located just 10-minute drive time from Schiphol Airport, 14-minute drive time from the Amsterdam A10 ring road and 12-minute drive time from Schiphol's main cargo terminal. The region has seen significant population growth, which is driving e-commerce demand, further increasing its desirability to 3PL and distribution occupiers. Matthew Ganas, MBA at Valor, said: “This was a rare opportunity to acquire a Grade-A, mission critical asset, generating attractive day-one income and located on freehold land within the urban Amsterdam market, which is one of the dominant European e-commerce centres. The investment’s appeal was further enhanced by the best-in-class nature of the real estate and local submarket supply dynamics, with a reduction of 145,000m2 of operational stock set to drive strong future rental growth.” Thomas Blangy, Senior Vice President at QuadReal Property Group, added: “This acquisition is in direct alignment with our long-term investment strategy which targets high-growth logistics hubs in key markets across #Europe including the Netherlands. This latest investment brings the total square metres in our partnership with Valor to over 515,000.” https://lnkd.in/eqRa_ttc

𝐌𝐢𝐧𝐝𝐬𝐩𝐚𝐜𝐞 𝐑𝐄𝐈𝐓 𝐒𝐜𝐨𝐨𝐩𝐬 𝐈𝐍𝐑 𝟐,𝟎𝟑𝟖 𝐂𝐫𝐨𝐫𝐞 𝐆𝐫𝐚𝐝𝐞-𝐀 𝐏𝐫𝐨𝐩𝐞𝐫𝐭𝐲 𝐢𝐧 𝐇𝐲𝐝𝐞𝐫𝐚𝐛𝐚𝐝 Mindspace Business Parks REIT, a leading real estate investment trust (REIT) in India, has disclosed its acquisition of Commerzone Raidurg, an advanced Grade-A commercial asset situated in Hyderabad’s Madhapur micro-market. The transaction, valued at INR 2,038 crore, further fortifies Mindspace REIT’s strategic expansion within India’s most dynamic business corridors. This acquisition is anticipated to substantively augment Mindspace REIT’s asset base and revenue trajectory, solidifying its stature as a dominant entity within the commercial real estate sector. Strategic Expansion in Hyderabad The acquisition entails 100% equity shareholding in Sustain Properties, the entity that holds ownership of Commerzone Raidurg, a 1.82 million square feet (MSF) commercial property that is fully leased to a premier Fortune 500 Global Capability Center (GCC)—Qualcomm. This transaction was consummated pursuant to the Right of First Offer (ROFO) agreement with the REIT’s sponsors, underscoring Mindspace REIT’s commitment to acquiring premium, income-generating assets that align with its long-term investment philosophy. Hyderabad has evolved into a pivotal global technology nucleus, consistently attracting substantial capital influx from multinational enterprises and GCCs. The Madhapur micro-market, a prominent IT and business enclave, is characterized by robust infrastructure, seamless connectivity, and a high concentration of blue-chip corporate tenants. Elaborating on the strategic importance of the acquisition, Mr. Ramesh Nair, CEO of Mindspace REIT, stated, “The acquisition of Commerzone Raidurg marks a significant milestone in our endeavour to deliver sustainable value and growth for our unitholders. Situated in Hyderabad’s central business district, this Grade-A+, fully leased asset not only strengthens our portfolio but also enhances income stability. With an esteemed tenant in place and substantial mark-to-market potential, this acquisition reinforces our preeminence in India’s commercial real estate domain and affirms our strategic focus on acquiring high-calibre, revenue-generating assets.” Mindspace REIT Acquisition – Key Transaction Highlights Asset Overview Total Leasable Area: 1.82 MSF, forming part of a broader 2.8 MSF development Occupancy: 100% leased to Qualcomm, ensuring predictable rental inflows Location: Madhapur, Hyderabad’s most significant commercial hub Sustainability Credentials: Designed in accordance with stringent green building standards, reinforcing energy efficiency and environmental sustainability #Hyderabad #REIT #CRE #RealEstate #Investing

#DEAL Aprirose has sold a 165-bedroom Premier Inn hotel asset in Liverpool. Located on Vernon Street, near to both Lime Street and Moorfields Stations in the City of Liverpool, the hotel is let to Premier Inn for 102 years. It was being marketed at a NIY of around 4% with uplift potential. We acquired the asset in 2014 and it was sold to an investment charity following competitive bids. Richard Hughes, Head of Asset Management at Aprirose says: "This was an opportunistic sale, taking advantage of strong pricing for this well-located asset, which was reflected in the interest and sale price which exceeded expectations. We have delivered a healthy return to our investors and can redeploy capital into new opportunities as they arise." Aprirose has divested a number of assets over the last 12 months realising strong returns for both the business itself and our investment partners, most recently selling the remainder of the Milton 1 & 2 portfolio to Punch Pubs in September in line with its strategy to exit its operational pub platform. We have also been active in both acquisitions and asset management. In the last 12 months, we have purchased eight ground rents in the UK and achieved a flurry of lettings and lease extensions at a number of other office, retail, residential and industrial lettings all adding value to existing assets with plenty of other deal and activity news to follow! Ari Boyd, CFO at Aprirose adds: "We are embarking on a period of strategic acquisitions as the company looks to take advantage of our track record to buy well and identifying both long income and asset management opportunities across a range of sectors in the UK. We are excited to see a range of deals put forwards as spotting the hidden gem and structuring the right deal for us and our investment partners play to our strengths as an investment house." #property #propertyuk #propertyinvestment #hotelinvestment #hoteltransactions #hotelperformance #investmentstrategy #hospitality #propertydeal #acquisitions #propertydeals #realestateopportunities #identifyingassets #propertyreturns #watchthisspace

Private equity giant Blackstone is in advanced talks with a clutch of city-based developers to acquire South City mall, the largest in eastern India and arguably the most successful in terms of sales and footfalls.