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Azrieli's Q1 profit soars; Prime seeks £500M project loan; Hammerson CFO resigns

* Tel Aviv-listed Azrieli Group's first-quarter net profit surged 42% year over year to 369 million shekels from 259 million shekels in the prior-year period.

* Prime Investors Capital Ltd. has hired Jones Lang LaSalle Inc. to secure new financing for a £500 million project that will transform the Admiralty Arch in London into a Waldorf-Astoria luxury hotel. The restoration of the historic building remains on schedule for completion and for the hotel launch in 2021.

* Timon Drakesmith, CFO of British landlord Hammerson PLC, is resigning from the company after eight years in the role. Drakesmith will continue to be a member of the Hammerson board until his departure later in 2019, according to a release.


* A South Korean investor group led by KTB Investment & Securities Co. Ltd. and KTB Asset Management Co. Ltd. paid roughly €300 million to buy a Vienna office building in one of Austria's largest-ever real estate deals, REFI Europe reported. Quadoro Real Estate sold the 84,000-square-meter T-Center and will continue to manage the asset following its sale.


* London-listed Tritax Eurobox PLC is placing new ordinary shares at €1.10 apiece to raise funds for its pipeline of potential new investments worth a total of roughly €660 million. Business Immo also reported on the placing, adding that the big box logistics company could raise up to roughly €360 million from the offering.

* Intu Properties PLC said Adèle Anderson, its senior independent nonexecutive director and chair of the audit committee, is stepping down, effective Oct. 25.

* Restaurant chain MOD Pizza is marketing the leasehold interest of its 8,161-square-foot unit at 17-18 Irving St. next to Leicester Square in London, PW reported. A lease on the entire property is scheduled to expire in October 2032.

* OakNorth loaned £16.5 million to private investment office WMG's development of a new 17-story building at Aldgate in London, PW reported. The property will offer 39 residential units on the upper levels, including 10 affordable units, and commercial units on the ground floor, the report added.

* According to a Reuters poll, average housing prices in Britain are unlikely to increase sharply, with values in London expected to fall 2.0% in 2019 amid uncertainties surrounding the U.K.'s planned exit from the European Union.


* Swiss Life Asset Managers divested a 93-property residential portfolio in Germany for an undisclosed sum to two investment companies of Primus Valor AG, REFI Europe reported. The AGORA portfolio features 1,500 apartments with 123,000 square meters of rental space and 300 commercial units, the report added.

According to the report, the deal is valued "in the nine-digits range," which places it among the biggest recent residential property deals in the country.

* Warburg-HIH Invest Real Estate launched the Deutschland Selektiv Immobilien Invest II open-ended fund to invest in core and core-plus office properties in Germany, IPE Real Assets reported. The investment vehicle will focus on properties worth €20 million or above in cities with fast demographic and economic growth, the report added, citing the company's managing director, Alexander Eggert.


* Trophaeum Asset Management purchased a roughly 2,000-square-foot prime retail asset on Piazza di Spagna in Rome for an undisclosed sum, PW reported. Trophaeum has spent €150 million over the last 18 months to acquire prime retail assets in Milan's Quadrilatero della Moda district as well as the 65,000-square-foot asset on Via Mascagni 6-8 in the city.

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