GE Real Estate UK and Paradigm Real Estate Managers (PREM) have joined forces to acquire 148 Kwik-Fit garage services centres for £103.7 mln (EUR 151.6 mln). The portfolio, which is located across several UK town centres, has been purchased through a sale-and-leaseback transaction. The assets are let to Kwik-Fit UK on a 25-year lease contract. The transaction value reflects a net initial yield of 5.3%.
The Grand Hotel Imperiale in Forte dei Marmi, Italy has been sold to UAE-based real estate company Emaar Properties, owner of renowned buildings such as the Burj Khalifa and the Dubai Mall.
