UK property REIT Hammerson has exchanged contracts for the sale of its remaining property in Germany, Forum Steglitz, to Europa Fund III, a pan-European investment fund launched by Europa Capital LLP. Hammerson will receive gross proceeds of EUR 70 mln from the sale, representing a net initial yield of 8%. Transaction costs are expected to be in the order of EUR 1 mln.
Swiss real estate group Investis has boosted its real estate holdings with the CHF 139 mln (€149 mln) purchase of prime residential properties in Vaud canton.
