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Société de la Tour Eiffel-Affine merger closes; Unibail settles €465M Paris sale


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Société de la Tour Eiffel-Affine merger closes; Unibail settles €465M Paris sale

* Société de la Tour Eiffel closed its merger with Affine, boosting the value of its real estate portfolio to more than €1.7 billion. Société de la Tour Eiffel plans to increase its share capital to about €78.3 million from roughly €61.5 million via the issuance of 3,352,023 new shares.

* Unibail-Rodamco-Westfield wrapped up the €464.9 million sale of its Tour Ariane office building in Paris to Singapore's sovereign wealth fund GIC Pte. Ltd. The disposal was part of Unibail's €3 billion asset sale program.

UK and Ireland

* Singapore-based AF Global Ltd.'s L.C. Hotels Pte. Ltd. division is disposing of its entire stake in the L.C. (London) Ltd. hotel investment company for approximately £84.4 million, in a deal set to close April 11, 2019.

L.C. (London)'s primary asset is the Crowne Plaza London Kensington hotel in London.

* Inland Homes PLC agreed to purchase a four-acre development site in Dagenham, East London, with planning permission for 325 homes and 1,600 square meters of commercial space. The project has an expected gross development value of approximately £95 million.

* Underwriters J.P. Morgan Cazenove and Numis Securities Ltd. secured subscribers for 7,888,061 new ordinary shares in Grainger PLC's 7-for-15 rights issue for which valid acceptances were not received. The shares, priced at 210.0 pence apiece, represent approximately 4.05% of the total number of new ordinary shares in the offering.

* Hibernia REIT PLC signed a refinancing agreement for its €400 million secured revolving credit facility. The new deal comprises a €320 million unsecured revolving credit facility with a five-year term, and a €75 million unsecured U.S. private placement of notes.

* Tritax Big Box REIT PLC is extending the termination date of its £350 million unsecured revolving credit facility by one year to Dec. 10, 2023. The facility was signed Dec. 1, 2017, with a margin of 1.10% per year over a three-month London interbank offered rate.

* LXI REIT PLC signed a £75 million, 15-year loan deal with Scottish Widows to fund potential acquisitions, Property Week reported. The funding was arranged by Lloyds Bank's Real Estate and Housing team.

* Developer Mace sold its student housing and residential development site in the Sheffield City Centre district in the U.K. to Cassidy Group for an undisclosed amount. The project has permission in place for 658 student beds and 247 residential units.

* Station Road Dev. Co. is seeking consent to revamp the vacant Norwich Union site in Reading into a £30 million, 22-story tower, PW reported. Plans for the project include a 135-room hotel and five levels of office space, as well as retail and restaurant areas.

* Construction firm BAM was chosen as the preferred bidder to deliver a hotel and office building in Manchester for developer Ask, Construction Enquirer reported. The lower 11 floors in the building will feature office space, while a 205-room hotel will occupy the up to 17 top floors.

* Melburg Capital paid an unknown sum to privately acquire the Warehouse K mixed-use building in East London from a British institutional investor, PW reported. The property comprises 110,000 square feet of office, retail and logistics space.


* Wallenstam AB secured the Swedish Financial Supervisory Authority's approval to issue up to 5 billion kronor of notes under its existing medium-term note program. The company has issued 2.95 billion kronor of notes under the program so far.


* Luxembourg-based REInvest Asset Management divested for an undisclosed amount the Via Caviglia office building in Milan on behalf of a special fund established for a German insurer, Property Investor Europe reported. The 13,000-square-meter office property was the special fund's last Italian property, as it now plans to focus on the Iberian peninsula.

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