CRE Herald’s 10 most popular global CRE market news in August

Here are CRE Herald’s most popular global commercial real estate(CRE) market news for the month. Click on headlines to read more please.

Real estate legend Gerald D. Hines dies at age 95

Gerald D. Hines, the founder and chairman of the preeminent real estate firm, Hines, has passed away at age 95 on Sunday, August 23, 2020.

Amazon to invest $1.4bn in new offices across six cities in United States

Amazon announced Tuesday that it plans to create 3,500 new tech and corporate jobs across six cities in the United States. The company will expand its Tech Hubs in Dallas, Detroit, Denver, New York (Manhattan), Phoenix, and San Diego.

Investors prefer ‘lower risk, lower return’ approach, says survey

The coronavirus crisis has caused significant changes in the investment strategies of institutional real estate investors. Investors prefer a ‘lower risk, lower return’ approach, according to a survey by Union Investment.

UK commercial property investment activity drops 60% y-o-y in July

UK commercial property investment activity is slowly recovering, but remains below levels typical for this time of the year, according to global real estate advisor Colliers International.

LOGOS forms JV to enter Vietnam logistics property market

Asia Pacific based logistics real estate investor LOGOS has formed a joint venture with a global institutional investor in Vietnam to develop logistics facilities across the key markets of Greater Ho Chi Minh, Greater Hanoi and Greater Danang.

CRE investments increase in Germany and CEE despite Covid-19 impact

Commercial real estate (CRE) investment volumes increased in Germany and Central Eastern Europe (CEE) in H1 2020, despite the effects of Covid-19 in Q2, according to Savills latest European Investment Spotlight.

Charter Hall, GIC acquire stake in $1.4bn convenience retail portfolio

Australian property investment company Charter Hall Group has established a partnership with GIC, Singapore’s sovereign wealth fund, to acquire a 49% stake in the Ampol Property Trust which owns 203 convenience retail properties throughout Australia for A$682 million ($489.81 million).

GLP launches $2.6bn open-ended logistics real estate fund in Japan

Global investment manager GLP announced it has launched Japan’s largest private open-ended logistics real estate income fund, GLP Japan Income Fund (GLP JIF), with JPY 280 billion (US$2.6 billion) assets under management (AUM) fund at inception.

ESR, AXA IM – Real Assets JV buys Tokyo logistics facility for US$368m

A joint venture between ESR Cayman Limited (ESR) and AXA Investment Managers – Real Assets (AXA IM – Real Assets) has acquired a logistics facility in Tokyo, ESR Kuki Distribution Centre (ESR Kuki DC), from Redwood Japan Logistics Fund II (RJLF II) and co-investors for JPY39 billion (US$368 million).

Chicago’s iconic office building sold for $376 million

A joint venture between SHVO and Deutsche Finance America has completed the acquisition of 333 South Wabash Avenue in Chicago’s East Loop, an iconic office building known as “Big Red”, for $376 million.

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