Hines, the international real estate firm, has acquired the New Stage Yokohama building in the Yokohama submarket in the Greater Tokyo area.

The successful bidder in the tender process for the historic property by Folli-Follie offered more than € 25 million.

The vendor is Argo Real Estate with the sites acquired on a combined net initial yield of 4.6%.

The transaction is expected to increase value for both hotel and affiliate partners.

The transaction covers the ownership and operation of 899 MW of operating assets.

The agreed Enterprise Value (EV) of the Transaction has been set at €307 million for 100% of Alpha Bank’s MA Business.

Helix Investments Limited is the holding company of the BizSpace business.

The seller is Blue Colibri Capital Partners Fund II SCA, a Luxembourg-based SICAV-SIF.

Morgan Properties acquired the Middle Street Partners (MSP) and Northland portfolios for a combined $780.5 million.

Underlying demand in the market was observed to be robust, but the lack of product had an impact on the overall volume, according to the Colliers.