UK REIT Hammerson has sold Les Trois Quartiers in Paris to private equity real estate investment group MGPA for EUR 210 mln - a 24% discount on the December 2008 valuation of the property at EUR 275 mln. Les Trois Quartiers comprises almost 30,000 m[sup]2[/sup] of retail and office space in the 1st arrondissement of the French capital and generates a passing rent of EUR 19.8 mln per annum.
Pan-European investor Bowery and real estate investor Alba join forces to acquire their first last-mile logistics asset in the Netherlands.
