trending Market Intelligence /marketintelligence/en/news-insights/trending/5VmTLBL-w_BYn2eZG41vQQ2 content esgSubNav
In This List

Irish homebuilder raises €500M in IPO; NEPI Rockcastle unit to buy Polish malls


Insight Weekly: Recession risk persists; Banks pull back from crypto; 2022 laggard stocks rally


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


Insight Weekly: Inflation eases; bank M&A slows; top companies boost market share


Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Irish homebuilder raises €500M in IPO; NEPI Rockcastle unit to buy Polish malls

* Irish homebuilder Glenveagh Properties raised €500 million in an initial public offering on the Dublin stock exchange. Glenveagh's shares have begun trading on the exchange under a primary listing, with a €696 million market capitalization following conditional dealings from Oct. 10.

* A wholly owned subsidiary of NEPI Rockcastle Plc, Tuvalu sp zoo, entered into an agreement to acquire two adjacent shopping centers in Kraków, Poland, for a sum of €249.4 million. The purchase price will be increased by future payments of roughly €212 million, subject to completion of a planned extension that will combine the two properties.

The sellers are Centrum Krokus sp zoo and Centrum Serenada sp zoo, while the deal involves the 41,170-square-meter Serenada Shopping Centre and the 27,728-square-meter Krokus Shopping Centre, with the former scheduled to open in October.

UK and Ireland

* Intu Properties Plc partnered with several technology startup companies under the Intu Accelerate program launched in May. The selected startups include BotsAndUs, WoraPay, GoInStore, Toky Woky, Infraspeak, Percent and Soza Health, which provide a host of products and services focusing on in-store customer experience and improved online shopping, among other things.

* The University of Leicester in the U.K. will spend £500 million on its campus over 10 years to deliver new teaching facilities, improve accommodation and add a space park next to the Leicester Space Center, among other amenities, TheBusinessDesk reported. Work on the project is expected to begin in 2019, the report noted, citing Leicester Mercury.

* U.K.-based asset manager Hermes Investment Management is teaming up with BAM Properties to work on the largest speculative office asset in Edinburgh. The duo will build an eight-story, grade A office tower on a 122,000-square-foot plot, which is in the city's business district. The project is due for completion in 2020.

* The Lambeth Council granted Downing planning approval for a 37-story, 841-bed student housing project and a six-floor, 38,567-square-foot commercial office scheme in Vauxhall, London, Property Week reported. The student accommodation project is slated for completion in 2018.

* Deka Immobilien is understood to be buying the Gibson Hotel in the Dublin docklands, which was placed on the market for €87 million, The Irish Times reported. The 252-room hotel was a part of Choice Hotels and is leased to a subsidiary of Dalata Hotel Group Plc, according to the report.

* According to the Irish tourism authority, 3,444 new rooms in new hotels and 1,938 rooms in current hotel extensions are in the Dublin hotel sector's pipeline until 2020, The Irish Times reported.

France, the Netherlands and Luxembourg

* BNP Paribas REIM France purchased the 8,400-square-meter Allure office building, close to the So Ouest shopping mall in Paris, on behalf of its Next Estate Income II fund, Property Investor Europe reported.

* In an off-market deal, New York-based HighBrook Investors bought the Blaak 333 office building in Rotterdam, Netherlands, for an undisclosed sum, Europe Real Estate reported. The 15,575-square-meter building is fully let to Rabobank.

* Developer Immobel commenced work on the Infinity urban precinct scheme with the construction of a 6,800-square-meter office building in Luxembourg City's Kirchberg quarter, PIE reported. The overall project will be completed in stages by 2020 and also includes a 6,500-square-meter shopping center and a 150-unit apartment building, the report added.

Germany and Switzerland

* Varia US Properties AG raised gross proceeds of CHF20.6 million through the issue of 542,105 new registered shares at CHF38 per share, each with a nominal value of CHF1.00. Luxembourg-based investment vehicle Wolf Property Holding subscribed to the entire issuance, raising its share in Varia to 7.52% and making it the company's second-largest shareholder.

* Germany's HSH Nordbank loaned €79 million to Nordic private equity fund EQT to fund the acquisition and renovation of two office assets in Frankfurt, PIE reported. The deal, carried out on behalf of the EQT Real Estate I fund, involved the 45,600-square-meter Atricom building in the Niederrad area and the 23,700-square-meter Le Büro asset in the city's Neu-Isenburg district.

Middle East

* Wyndham Worldwide Corp. unit Wyndham Hotel Group will open the 11th Ramada hotel establishment in Riyadh, Saudi Arabia, according to a release. The 189-room hotel development will include more than 200 square meters of meeting area, an indoor pool, spa, gym and dining elements.

Now featured on S&P Global Market Intelligence

Data Dispatch Asia-Pacific: Asia-Pacific real estate capital raising down 20% YTD through September

Data Dispatch: Canadian real estate companies raise C$2.2B in Q3'17

The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.

Anusha Iyer contributed to this report.