* DZ Bank AG's Union Investment Institutional GmbH is considering canceling a deal to lease space to the parent of coworking giant WeWork Cos. Inc. at the 5 Keizers office building in Amsterdam, Bloomberg News reported, citing unnamed sources.
The asset manager could instead prefer another tenant over The We Co. at the complex, the unnamed sources told the news outlet, adding that the coworking company could still end up occupying the space.
* M&G Prudential is buying and funding the development of a £1.4 billion London office project at 40 Leadenhall for £875 million, signalling confidence in the British capital amid Brexit uncertainties, The Times (U.K.) reported. The City of London project, nicknamed Gotham City, will comprise a 14-story building and a 34-story tower with about 900,000 square feet of mostly office space. Construction is expected to commence in early 2020 and completing is expected in 2023.
* The current cycle is seen to be extended as the European Central Bank restarts quantitative easing in November, commercial real estate services firm JLL said in a report.
David Rea, chief economist for Europe, Middle East and Africa at JLL, said the current cycle is different to those that came before in terms of extended duration and the quantitative easing that pushed down yields in other asset classes, making real estate more attractive.
Rea added the escalating trade tensions as well as political uncertainty in Europe such as Brexit and German Chancellor Angela Merkel's departure remain key risks going into 2020.
* Garbe Industrial Real Estate GmbH and German data center specialist NDC Data Centers GmbH formed a joint venture called NDC-GARBE Data Centers Europe GmbH to develop sustainable data centers for the European market.
UK and Ireland
* Unite Group PLC said Unite Students sold two wholly owned properties in Coventry, U.K., for £96 million. The properties total 1,127 beds and are being acquired by Mapletree Investments Pte Ltd.
* Kier Property and Investec Group sold Kings House in Hammersmith, London, to Catalyst Capital for £50 million on behalf of a family office, reflecting a net initial yield of around 6%. Tenants include Work.Life, 4C Associates, Zaizi HyperOptic and SailGP.
* Netflix Inc. signed a lease for around 20,000 square feet of office space on Berners St. in London, property sources told the London Evening Standard.
* Irish homebuilder Glenveagh Properties PLC was given green light by An Bord Pleanála for a residential development in Dublin comprising nine blocks ranging from three to 15 stories, according to The (U.K.) Times. The Marshall Yards will consist of 554 apartments. The homebuilder is expected seek an institutional buyer to forward-fund the development, the publication noted, citing unnamed sources.
Germany
* Sontowski & Partner GmbH's S&P Commercial Development is set to build Novum Hospitality's new headquarters in Hamburg for around €110 million, Property Magazine International reported. The mixed-use commercial property will have a floor space of over 21,000 square meters and will house the company's main office, a hotel and a hospitality training facility.
* The German residential investment market recorded sales of €6.4 billion in the third quarter, with 42,000 residential units changing hands, Property Magazine International reported, citing JLL. Investments in the first six months of 2019 had fallen 27% year over year.
Total residential investments in the nine months ended Sept. 30 totaled €14.5 billion, slightly below the year-ago figure. Konstantin Kortmann, head of residential investment at JLL Germany, said the latest figure was already 78% of the entire volume in 2018 at €18.6 billion.
Denmark and Netherlands
* Invesco Real Estate Ltd. acquired 191 apartments in Copenhagen's Valby district on behalf of one of Invesco's German separate account clients for 520 million Danish kroner, IPE Real Assets reported.
The company also forward-funded the 85,000-square-meter VEN03 logistics distribution center in Venlo in the Netherlands from developer Somerset Capital Partners BV. The fully-let property is due for completion in April 2020.
* Altera Vastgoed NV received an additional funding of €115 million for its non-listed core fund Altera Retail Fund from a German insurer on behalf of two of its entities, according to Property Funds World. The vehicle, which invests in core convenience retail assets in the Netherlands, now has a total capital of €225.5 million.
Sweden
* Property prices in Stockholm are on the rise again thanks to a growing population and an influx of super-wealthy buyers, London's Financial Times reported. Between June and August, the Swedish capital saw 1,781 sales, according to Statistics Sweden, compared to 1,423 in the last three months of 2018.
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