Setting a benchmark: One of the largest retail deals in the UK market We are delighted to announce our £290 million senior loan to Redevco, a leading European retail investor for the acquisition of a prime retail portfolio comprising of 16 warehouses across the UK. This significant transaction represents one of the largest retail property deals in the UK market in 2024 and marks our first engagement with Redevco. Retail warehouses are increasingly seen as a resilient and high-performing asset type in the market, blending physical retail with e-commerce logistics, like click-and-collect to meet consumer demand for convenience. Strategically located in core urban centres, primarily in southern England, the portfolio features a diversified tenant lineup of both national and international retailers. Prominent food retailers anchor a substantial part of in-place rent, ensuring stability and resistance to market challenges, including the rise of e-commerce. Redevco acquired the properties from Oxford Properties Group and M7 Real Estate Ltd Estate, aiming to strengthen its portfolio in resilient retail segments and capitalise on future growth opportunities in the retail sector. Aareal Bank AG acted as the arranger, facility agent, and security agent for this transaction. A heartfelt thank you to all parties involved: Pinsent Masons Knight Frank Eastdil Secured Redevco Severin Schoettmer Elke Wolf-Pileggi Erik Schultz Please read the full transaction announcement here: https://lnkd.in/ebTK9Y8x #Aareal #CommercialRealEstate #Retail #Warehouses #RetailResilience #InvestmentOpportunities #PrimeRetailDeals #UK
Aareal Bank AG’s Post
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SOLD BY CBRE | Stockland Nowra, NSW CBRE Retail Capital Markets – Pacific are pleased to announce the successful transaction of Stockland Nowra for $103.0 million. We wish to congratulate Stockland and Fawkner Property on this off-market transaction. The centre is a strong performing shopping centre within the region, boasting an attractive and secure national and chain retail tenant profile, anchored by a Woolworths supermarket and Kmart DDS. The opportunity appealed to a wide range of active private capital, looking to increase their presence opportunistically and strategically in the highly sought-after sub-regional shopping centre market. Syndicators and private investors have been the most active capital source for retail property in Australia, accounting for 89% of total regional and sub-regional acquisitions in 2023. This transaction completes $1.8 billion in sub-regional and regional transactions for Fawkner Property – encompassing 9 separate transactions across Australia since 2021. We expect with the forecast improvement in the financial markets and strong asset performance fundamentals, CBRE Research expects an increase in activity in the retail sector will grow by circa 50% between 2023 and 2025, from $4.2 billion to an estimated $6.3 billion. For further information on this transaction and upcoming 2024 retail opportunities, please contact me directly. Simon Rooney M: +61 418 284 680 simon.rooney@cbre.com James Douglas M: +61 419 973 245 james.douglas@cbre.com
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SOLD BY CBRE | Warriewood Square, Sydney – NSW (50% interest) CBRE Retail Capital Markets – Pacific are pleased to announce the transaction of a 50% stake in Warriewood Square for $135.5 million. We wish to congratulate ISPT and JY Group on the successful transaction. Located 29km north-east of the CBD, the 30,301sqm necessity based, triple supermarket anchored centre is securely anchored by Coles, Woolworths, Aldi and Kmart, representing 54% of GLA. The on-market sale process attracted considerable investor interest primarily from private based capital, with groups attracted to the Sydney metropolitan location, recent capital investment works of $85 million completed in 2016 together with robust performance of supermarket operators contributing combined annual sales in excess of $100 million. This transaction completes $1.3 billion in 50% interests in retail assets changing hands since June 2024, including Westfield West Lakes (SA), Westfield Tea Tree (SA), Claremont Quarter (WA), Lakeside Joondalup (WA) and Westfield Whitford City (WA), with additional partial interest transactions in play as we close out 2024. E: simon.rooney@cbre.com M: +61 418 284 680
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SOLD BY CBRE | Halls Head Central, WA CBRE Retail Capital Markets - Pacific is pleased to announce the successful transaction of Halls Head Central for c.$70 million. We wish to congratulate Vicinity Centres, ISPT and Centuria Capital Group on this off-market transaction. Located 4km south-west of Mandurah CBD and 75km south of the Perth CBD, the 19,373sqm food, service and convenience-based shopping centre is securely anchored by Coles, ALDI and Kmart, representing 61% of GLA. The transaction demonstrates continued demand for sub-regional assets with a focus on non-discretionary spending, particularly those which offer strategic value-add opportunities. Halls Head Central occupies a significant and under-utilised site of 9 hectares and its low site coverage of 22% provides potential development or land banking opportunities across ~10,000sqm of surplus land. Western Australia continues to gain traction as a key retail investment destination with total transaction levels reaching $928 million in 2023 to date. CBRE being directly responsible for $737 million or 80% of transactions. For further information on this transaction and upcoming opportunities, please contact me directly or my colleague James Douglas. Simon Rooney M: +61 418 284 680 E: simon.rooney@cbre.com
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📌British Land acquire £45m retail warehouse portfolio: ⭐BL acquired 3 UK retail warehouse assets from M7 Real Estate for over £45m. ⭐The deal includes St David's Retail Park in Bangor, Queens Drive Retail Park in Kilmarnock, and Enham Arch Retail Park in Andover, totaling over 270,000 sq ft with high occupancy levels. ⭐M7 Real Estate Ltd, managing over 2 million sq ft of retail warehouse space in the UK, sees this sale as a milestone, enhancing income profiles since 2020. This move wraps up M7's asset management strategy, generating robust returns and focusing on high-growth sectors. ⭐This highlights the retail warehousing sector's appeal and the ecosystem supporting retailers. These assets are key for last-mile delivery and click-and-collect services, exemplifying retail spaces' evolving nature. 💬What are your thoughts on British Land's latest acquisition? Leave your thoughts below. #CommercialRealEstate #Retail #Investment
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Scentre Group and Barrenjoey have stepped up their shopping centre funds management ambitions by acquiring a half stake in Adelaide’s Westfield West Lakes for $174.75 million. CBRE’s Head of Retail Capital Markets – Pacific, Simon Rooney exclusively negotiated the deal, on behalf of the Dexus Wholesale Property Fund (DWPF). Scentre Group (Owner of Westfield destinations in Aus and NZ) Group remains as co-owner and property manager of the other 50% of the asset and will continue to drive its strong performance. Scentre Group stepped into the transaction under a pre-emptive agreement, marking its second foray into funds management following the group’s June 2024 acquisition of a 50% interest in Westfield Tea Tree for $308.0 million. Mr Rooney noted, “The West Lakes transaction demonstrates the resurging investor interest in larger regional shopping centres, given that these centres have already rebased their income back to sustainable levels and are now positioned for growth. We’ve seen $1.1 billion in high-quality regional retail assets recently change hands, including 50% stakes in Westfield Tea Tree, Lakeside Joondalup and Claremont Quarter, with a further $1.3 billion in deals currently in play.” Read more on COMMO > https://lnkd.in/eT-aZ6mi CBRE Asia Pacific Mark Granter James Douglas Michael Hedger Joe Tynan Dexus Yuli Xu Fiona Ellender Jamie Hess Sam Guest William Clements Angelo Scasserra Harrison Emms Damien Boey Nicholas Furlong Rob Saywell Mollie Urquhart Nathan Yeo Neil Carrasco Gino Allen Guy Russo Amanda Pieriboni Sarah Tucker Max Gordin Eddie Giraldo Lucas Forbes #cbre #shoppingcentre #retailinvestment #retailproperty #adelaiderealestate #dexus
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For the win 🔥 A little note on retail. It's a misconception that retail is 'dead'. Correctly positioned retail is thriving as new construction has slowed. Understanding the consumer's need for local retail is a smart investment. PROGRESS CAPITAL continues to secure financing for well positioned retail centers. https://lnkd.in/eixiMCjX Brad Domenico Daniel Salonis Adam Dickert #retail #creloan #commerciallending
Bank United Supplies $24M Acquisition Loan on N.J. Retail Center
https://commercialobserver.com
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Blackstone Real Estate entered into an agreement to take Retail Opportunity Investments Corp. ("ROIC") private in an all-cash transaction valued at about US$4 billion, including debt. ROIC’s portfolio comprises 93 high-quality, grocery-anchored retail properties totaling 10.5 million square feet concentrated in Los Angeles, Seattle, San Francisco, and Portland. Jacob Werner, Co-Head of Americas Acquisitions at Blackstone Real Estate, said, “This transaction reflects our strong conviction in necessity-based, grocery-anchored shopping centers in densely populated geographies. The sector is experiencing accelerating fundamentals, benefiting from nearly a decade of virtually no new construction, while demand for brick-and-mortar grocery stores, restaurants, fitness and other lifestyle retailers remains healthy." Blackstone’s real estate business has US$325 billion of investor capital under management. It is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, data centers, residential, office, and hospitality. In ARC Ratings, we have specific rating criteria to assess the credit risk of corporate issuers in the real estate investment sector, available here: https://lnkd.in/dEHuuS6P All ARC Ratings' methodologies to assess the credit risk of non-financial corporate entities are available here: https://lnkd.in/d5_bWsU7 #retail #CRE #realestate #corporates #creditrisk #ratings #arcratings
Blackstone to acquire Retail Opportunity Investments Corp in $4 billion deal - ET RealEstate
realty.economictimes.indiatimes.com
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BIG BOX LEASING REMAINS ABOVE 2019 Despite moderating from the COVID driven highs, Big Box leasing activity through the first half 2024 remains above the same period during 2019. This was driven by a strong rebound in e-commerce leasing activity and leasing surge among tenants in the food and beverage industry. Stabilizing leasing activity above 2019’s level will require a combination of stabilizing economic growth, sustained retail sales growth, and favorable corporate earnings outlooks among other factors.
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“We have turned a corner,” said Landsec chief executive Mark Allan as he delivered positive numbers across the REIT’s £1.8bn retail portfolio. In fact, things have rebounded so well, that the REIT is planning to invest some £600m in major retail as it seeks to boost holdings from 18% of its £10bn total portfolio, to something in the mid 20% range. Major retail saw one of the smallest dips in valuation across Landsec’s portfolio in the 12 months ended 31 March, declining by 1.1%. This compared with a 6.9% dip in central London values and a 14% drop in the value of its mixed-use portfolio. The REIT’s retail confidence is further boosted by its outperformance of the wider sector in terms of occupancy trends. While UK retail occupancy has, as a whole, sat mid-80% since 2021, with a slight downwards trend, across Landsec’s portfolio occupancy has risen from 90% to more than 95% today. And customers are seemingly trending more towards its assets, with footfall up by 4% during the year under review, compared with a UK benchmark of 1%. All of that, plus a 2% uplift on re-letting and £37m of new deals at 6% above ERVs, has Landsec confident that the right retail is back and that it should be buying more of it. Allan said the business was “well-placed” for growth” and that “having sold early when values were higher, we now have balance sheet capacity to invest at an attractive point in time”. With more than £3bn of its planned £4bn of disposals now complete, the REIT is swinging back into acquisition mode and has around £1bn to spend on building out, improving and adding to its portfolio. Some £400m of that is set aside to bring forward London office developments but the rest, said Allan, would be focused on major retail. So, £600m to expand – and improve – its retail footprint. Read more about retail's resurgence and why Landsec is splashing £600m on the sector ⬇ ⬇ ⬇ https://lnkd.in/e25twZub
Retail resurgence: Why Landsec is prepping to plough £600m into the sector | EG News
egi.co.uk
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#homebase: a once-once good #retailer which overexpanded in the “good times” and was then left to drift through a series of pillar-to-post ownership changes. That hasn’t had the #investment it needs for years. The real reason for its demise, rather than a period of weak trading. #administration #cva #privateequity #highstreet #retail #retailproperty #diy #therange #cds #wesfarmers #bunnings https://lnkd.in/eNVHwJ5U
The Retail Note | Homebase: Private Equity provided a house, not a home
knightfrank.com
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Senior Legal Counsel - Abogada en Aareal Bank
3w¡Enhorabuena!