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Grainger to offload majority of German assets to LEG Immobilien; Swedish group's office deal sets Boston record

Mining by the Numbers — Canada in 2020

European Subscription OTT Video 5 Year Outlook

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Grainger to offload majority of German assets to LEG Immobilien; Swedish group's office deal sets Boston record

* Grainger Plcagreed to offload the majority of its remaining German residential propertyportfolio to LEG Immobilien AGfor a gross consideration of approximately €53 million, according to anews release.

The deal is in line with the company's strategy tosimplify its business to focus on investment in the U.K. private rented sector.

* Sweden-based Skanska said that it sold an office development in theU.S. to Germany's UnionInvestment Real Estate GmbH for US$452 million. According to a newsrelease, the 101 Seaport tower in Boston stands 17 stories high and spans41,000 square meters.

TheBoston Globe notedthat the deal has set a new record in the city for the highest price for alarge office building at US$1,027 per square foot.

* Prelios SpAplans to launch a retail property-focused fund in Germany, the Milan-listeddeveloper's first in Germany, PropertyInvestor Europe reported,citing a news release from the company's German subsidiary. The fund will startoperations in 2017.

According to the report, Prelios German RetailProperty Fund Germany will have a target €280 million budget for core plusassets in inner city and out-of-town shopping malls, retail warehouses,department stores and high-street retail units in Berlin and west Germancities.

* Belgian real estate fund manager Mitiska REIM is targeting up to €200million for a fund that will invest in retail parks in Europe, with aparticular focus on value-add assets, PIEreported.

* Unibail-Rodamco SEtopped PropertyEU's listof top retail developers in Europe, thanks to its Mall of Scandinaviaproject. and aHammerson Plc- jointventure were also included in the list.

The survey ranks developers based on their completedretail projects between 2013 and 2015.

* PATRIZIA Immobilien AGHead of Research Marcus Cieleback said that the number of retail outlets inEurope is expected to decrease in the coming years. The group's annualresearch report onthe continent's commercial property markets also forecasts that demand in theasset class will outstrip supply.

* An Amsterdam-basedreal estate investment management company is getting a US$500 million boostfrom the Washington State Investment Board, IPEReal Estate reported.The commitment to Aevitas Property Partners LLC, subject to board approval,will be allocated to real estate investments.

Franceand the Netherlands

* The Abu Dhabi Investment Authority selected a Bouygues Construction unitto build the 38-floor Alto Towerin Paris under a €200 million contract, according to a newsrelease. Work on the tower is expected to begin in September, whiledelivery is expected in the first quarter of 2020.

* AccorHotelsreleased the resultsof its sustainable development program, Planet 21. The French hotelier addedthat it expects its entire portfolio of new, owned and leased buildings to beenvironmentally friendly by 2020.

The results were published a day after the company, inan effort to "increase its agility" in new businesses, Thibault Viort to thenewly created position of chief disruption and growth officer, effective April1.

* According to FPI data citedby PIE, new home sales in the Parisregion reached a four-year high in 2015 with 31,600 transactions. Constructionof new and renovated offices was also up in the year.

* Credit Suisse sold a portfolio of 14 assets in the Netherlands in what Property Magazine International describesas one of the biggest real estate deals in the country year-to-date, despite anundisclosed price tag. The Maxima portfolio had a book value of €380 millionand was sold to an affiliate of MCAP Global Finance (UK) LLP.

UK

* Primary Health PropertiesPlc expects to raise £150 million from its planned capital raising,above its initial £120 million target.

The company saidthat it received valid applications and commitments for the firm placing andplacing, open offer and offer for subscription, and as such will offer 150.0million new shares at 100 pence apiece.

* Justin Read plans to retire from SEGRO Plc as group finance director later in 2016,according to a filing. SEGROsaid it will now begin a search for his replacement.

* Sports Direct International plc inked a £108 million deal to buy thefreehold property at 161-167 Oxford St. and 36 Poland St. in London, accordingto a filing.The property was sold by CIP Property (AIPT) Ltd. The sports retailer plans toredevelop the property into an office-retail scheme.

* London's Financial Times reportedthat the International Monetary Fund deems the country's "buoyant"property market to be a factor in the expected growth in the economy, which ishelping offset challenges from fiscal consolidation and uncertainty in relationto the upcoming voteon the country's membership in the EU.

* According to a Rightmove survey, investor interest in rental propertiesin the U.K. has dropped since the government's implementation of additionaltaxes on buy-to-letand second-home buyers, Reuters reported.

* About 62% of Knight Frank's surveyed advisers said that their wealthyclients have switched their attention to U.K.'s commercial property market fromother asset classes, including residential. FTnoted,citing the property consultant, that office investment in the West End ofLondon totaled a record £7.4 billion in 2015.

* Mayor of London candidates Zac Goldsmith and Sadiq Khan agree thathousing is London's biggest problem, FTreported.

Italy

* The Wall Street Journal placedCOIMA RES SpA'sIPO on the spotlight,noting that it is the first property firm to go public in Italy in the last 10years.

* Fabrizio Lauro, head of business development and fund raising atInvestiRE, toldPIE in a statement that there is arecent uptick in the number of interested insurance companies, REITs and corefunds in Italian properties.

Nordic Countries

* Atrium Ljungberg AB said that Bankgirot is shifting to the company's newlyacquired office property in the city district Liljeholmen. The7,000-square-meter area will be renovated until the tenant moves in by May2017.

* Local firm NCC Housing saidthat it plans to launch a new homebuilder brand called Bonava, which will listin Nasdaq Stockholm within the year, subject to shareholder and bourseapproval.

* German pension fund BayerischeVersorgungskammer is pouring €80 million into a portfolio of seven residentialassets in the Helsinki metropolitan area. IPEReal Estate reportedthat Tapiola sold the 18,781-square-meter portfolio, while CapMan Real Estatewill manage the assets.

Germany

VIB Vermögen AG said that it bought three sites aggregating 177,000square meters in Kösching, Ingolstadt. The company plans to build industrialfacilities with roughly 90,000 square meters of rentable area for logistics andlight industry sectors.

Centraland Eastern Europe

FT quoteda JLL executive as saying that there is "certainly" an increasedinterest from Asian and other global investors in central and eastern Europe'sreal estate market in recent years.

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Hiresand Fires: European, Asian real estate moves through April 12:S&P Global Market Intelligence presents a weekly rundown of recentsignificant management and board changes and personnel moves in the Europeanand Asia-Pacific real estate industries.

TheDaily Dose Europe, Real Estate edition, is updated as of 6:30 am London time.Some links require a subscription. Articles and links are correct as ofpublication time.