MARK subsidiary Crossbay completed its sale of 128 logistics properties and six logistics projects in seven European countries to Prologis. MARK’s CEO said the deal crystallised ‘strong returns’ for its investors; nevertheless, React News - which first broke the story - pointed out that the €1.585 bn price achieved was lower than the original asking price, thought to have been circa €2 bn.

In the office sector, Blackstone closed the sale of a refurbished-to-BREEAM-In-Use-Excellent Amsterdam building at the second attempt. Aviva secured the building at a lower price than Blackstone had hoped for nine months ago.

The steady stream of UK shopping centres coming onto the market continues. Abrdn is pressing on with the sell off of it’s former large exposure and appointed Knight Frank to try for £250 mln for Brighton’s main mall.

Hines put Livingstone town centre up for sale at an 11%-plus yield. Earlier this month, three more substantial UK centres which recently went into receivership or administration went on the market: Woking’s Peacock Centre, the Grosvenor Shopping Centre in Chester; and, two weeks ago, Bon Accord shopping centre in Aberdeen. In addition, Savills has been appointed to sell the Eastgate centre in Basildon.

In the fund raising market, six vehicles launched or took in capital. Among them is Arminius  Group’s Article 9 ‘Impact Office Fund’ while another German fund manager, Intreal, announced a move into real estate debt.

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