REIT Wire: Moorfield, Hines, Apple REIT, Alstria Office, Macquarie
Moorfield, Hines Buy €224M U.K. Offices
Moorfield Group and Hines have acquired eight office buildings at Brindley Place in Birmingham, PropertyEU reports. The London-based real estate companies will pay €224 million to independent property specialist, Tritax. The assets form the remainder of the original Birmingham Brindleyplace fund. Royal Bank of Scotland, BT, Arthur Andersen, and the Royal Mail are the prime tenants of the offices.
Reported by PropertyEU
Apple REIT To Pay $151M For 10 Hotels
Apple REIT Nine has purchased 10 hotels with 1,289 rooms for $150.8 million, Commercial Real Estate Direct reports. The REIT also signed a ground lease for one acre in downtown Richmond where it plans to build two hotels. The deal comprises six completed hotels and three that are under construction. The three completed properties have $21 million of debt, which will be assumed by Apple Nine. The loans have interest rates that range from 5.2% to 5.5 and mature in late 2015.
Reported by Commercial Real Estate Direct
Alstria Office REIT Gets €630M Loan
Alstria Office REIT has been granted a new €630 million loan by five banks, PropertyEU reports. The Hamburg-based company will now be able to refinance a previous syndicated loan, which was due end of November 2011. The credit was arranged by UniCredit Bank and was underwritten by Berlin-Hannoversche Hypothekenbank, Eurohypo, Nordbank and Natixis. The new loan agreement has a maturity of five years.
Reported by PropertyEU
Spirit Owners Seeks $3.5B From Sale
Macquarie Group is planning to sell its U.S. real estate investment trust, Reuters reports. The Australian investment bank seeks to earn about $3.5 billion from sale of Spirit Finance. Three publicly traded REITs, including National Retail Properties, Lexington Realty Trust and Realty Income, have been approached for the sale. Barclays Capital and Macquarie are advising on a possible deal, adds Bloomberg.
Reported by Reuters
Additional reporting by Bloomberg