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.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
