(Newswire.net— November 21, 2019) — When it comes to the real estate market, major companies from the industry continue to sign major deals and make new important acquisitions. This year had not been an exception, as some of the real estate investments exceeded even some of the optimistic expectations. In order to prove that’s the case, let’s look at some of the most important real estate deals.
St. Oswald’s Retail Park
One of the most recent major real estate deals involves Hammerson, which had exchanged contracts on the sale of St. Oswald’s Retail Park, located to the north of Gloucester city center, England. Developed in 2005 by Hammerson, the 20,900 square meters scheme had been sold to a local authority for 63.2 million euros.
The location offers a range of bulky goods, retail and leisure space over two terraces and includes flagship tenants like B&Q, Wren Kitchens, and Homesense. According to David Atkins, the Chief Executive of Hammerson:
“Despite a challenging investment market, we are successfully executing disposals in line with our priority to reduce debt and strengthen our balance sheet. These transactions also give us the flexibility to capitalize on the opportunities we see in the market, particularly with regards to our City Quarters pipeline, which is core to the future direction and success of our business.”
Office building in Stuttgart
The second real estate deal which we would like to talk about had been made by Aspen Group, a company valued at NIS 450 million, which is engaged in the acquisition, initiation, rental, management, and improvement, of rental properties, including those used for offices, services, trade, industry, and logistics, in Israel, Germany, and The Netherlands.
However, the latest major deal of Aspen involves an office building in Stuttgart, Germany, which had been sold for approximately 48 million euros. Holding 70% of the property, Aspen secured a record profit of 8 million euros and a free cash flow of 18 million euros.
As Ofir Bar, a person involved in some of the company’s deals, claimed:
“The sold property covers an area of 19.9 thousand square meters and was purchased back in 2014 in partnership with Shlomo Insurance Company, and was leased to the State of Baden-Wurttemberg, with its book value on the eve of the sale being approximately 36.5 million euros.”
This deal follows after the sale of a logistics center in July, leased to a company from the global fashion chain Timberland, in the city of Almelo, The Netherlands.
Cambridge Hotel
The 4-star Tamburlaine Hotel, located in Cambridge, the United Kingdom, had been acquired by The Ability Group but will be operated by Dalata Hotel Group under a new full repairing insuring lease for a 30-year term.
Based on the latest information on europe-re.com, the hotel will be rebranded as Clayton Hotel Cambridge, after the deal that is estimated at 64.4 million euros. Built in 2017, the Tamburlaine Hotel has 155 bedrooms, a restaurant, a bar, and extensive conference meeting facilities. Its main advantage has to do with the location, adjacent to Cambridge Railway Station.
Dermot Crowley, the Deputy CEO of The Ability Group, hailed the latest achievement of the company, labeling Cambridge as a priority target city:
“Cambridge has been a priority target city for our Clayton brand, and I am delighted that we have secured such a high-quality, modern hotel in the centre of the city. The acquisition of the leasehold interest of this hotel is another important step in our stated strategy of expanding our Maldron & Clayton brands in key cities across the UK. “
With all that in mind, it is now clear that 2019 had been a fruitful year for some of the major real estate companies in Europe and judging by how things develop, 2020 should also provide new important deals.