Onyx €1.28 billion acquisition of Hansteen continental Europe property portfolio

Overview:

• Blackstone and M7 Real Estate venture Onyx has reached an agreement to acquire Hansteen Holdings' entire portfolio of properties in Germany and Netherlands for €1.28 billion.
• Hansteen, an LSE listed reit (real estate investment trust), said the fee represented a 6% premium on an estimate of the properties' value at the end of 2016. 
• Private equity fund Blackstone and real estate investor M7 are paying for the portfolio in cash. 
• The transaction leaves Hansteen with only UK property. 
• Hansteen expects the deal to complete by the end of June.

Ben Naylor - Regional editor