trending Market Intelligence /marketintelligence/en/news-insights/trending/2vmL2FFMXLJfvWTpRAiuuw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Gecina issues €500M bond; KanAm buys Standard Life Aberdeen HQ for £130M

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Real Estate News & Analysis: April Edition

Blog

COVID-19 Impact & Recovery: Investment Banking

Blog

COVID-19 Impact & Recovery: Academia


Gecina issues €500M bond; KanAm buys Standard Life Aberdeen HQ for £130M

* Gecina placed a €500 million bond issue in a 5x oversubscribed issue. The 15-year bond matures in May 2034 and has a coupon of 1.625%.

The French real estate investment trust also launched a tender offer for three of its outstanding series of notes, which have an average maturity of four years and an average coupon of 2.15%.

* KanAm Grund Group reportedly spent about £130 million to purchase Standard Life Aberdeen's headquarters in Edinburgh on behalf of German pension fund Ärzteversorgung Westfalen-Lippe, Property Week reported. Standard Life Pooled Pension Property Fund sold the property at 4-8 St Andrew Square, which features 100,000 square feet of offices, 65,000 square feet of shops and restaurants, and five apartments, the report added.

UK and Ireland

* Tritax Eurobox PLC raised gross proceeds of €135 million via a placement of 122,727,273 shares at €1.10 apiece. The shares are expected to be admitted to the premium listing segment of the Official List of the U.K. Financial Conduct Authority and admitted to trading on the London Stock Exchange's main market for listed securities with effect from May 29.

* IV Real Estate initiated its £100 million regional investment drive with the purchase of two office blocks in Bristol, U.K., in a partnership with an overseas fund, PW reported. The assets, bought from Big Sur Properties, are set to be revamped and repositioned into a mixed-use development with a gross development value of £15 million.

* Savills Investment Management Inc. divested 25 acres of industrial land in London on behalf of an FTSE 100 corporate pension fund for an undisclosed amount, IPE Real Assets reported. The pension fund had an outline planning approval in place to develop 450,000 square feet of new industrial space on the site.

* Take-up across the industrial and logistics sector in England totaled 4.9 million square feet in the first quarter, falling to its lowest level since the first quarter of 2013, when the take-up reached 4.5 million square feet, PW reported, citing Colliers International. The slump is attributed to Brexit uncertainty, the report added.

* Kennedy-Wilson Holdings Inc. and French insurer Axa's rental joint venture in Ireland was approved by DG Competition, the European Union's competition watchdog, The Irish Times reported. The 50/50 partnership was signed in May 2018, with Axa taking a 50% stake in Kennedy Wilson's ventures that own 1,173 apartments in central Dublin, according to the report.

Germany

* U.S.-based GreenOak Real Estate LP partnered with Apeiron to mark its first German logistics deal with the acquisition of a 340,000-square-meter portfolio, IPE Real Assets reported. The properties, close to Munich, Karlsruhe and Dortmund, were bought in a joint venture with Korean investors Hana Financial Investment Co. Ltd. and Tiger Alternative Investors Co. Ltd., according to the report.

* Godewind Immobilien AG paid €85 million to buy the City Gate office tower in Frankfurt from an entity for which HRO Germany serves as asset manager, PropertyEU reported. According to its website, the 110-meter-high building has a very good certification from Building Research Establishment Environmental Assessment Method.

Spain

* The average monthly apartment rent in Spain rose 0.1% year over year in April to €8.54 per square meter, reaching the highest level since 2009, Bloomberg News reported, citing property website Fotocasa.

Now featured on S&P Global Market Intelligence

Conference Chatter: UK property investors dismiss alarm over prospect of leftist Corbyn government

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.