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Anbang to buy €500M Dutch properties; Echo Polska in €385M Polish deals


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Anbang to buy €500M Dutch properties; Echo Polska in €385M Polish deals

* is disposingof office properties worth over €500 million in the Netherlands to Vivat NV, aunit of Anbang Insurance GroupCo., Bloomberg News reported,citing a source with knowledge of the matter.

* Newlylisted Echo Polska Propertiessigned two property deals worth a combined €385 million for properties inPoland.

The developer entered into a €265 million purchase agreementto buy seven office buildings from Echo Investment SA, pursuant to a . Theproperties offer a total gross leasable area of about 112,000 square meters.

The duo also signed a joint agreementto buy and develop Towarowa 22 in Warsaw from Griffin Real Estate. Thecommercial property was bought for €120 million.

* According to aCushman & Wakefield research,cross-border property investments have shifted, with Asia and America seeingmore foreign investments than Europe. Notably, the real estate services companysaid, London lost its "global crown" as a target for foreigninvestments to New York.

Global property investment rose to US$1.35 trillion in the12 months to June, while investment volume in London fell to US$25 billion fromUS$39 billion in the comparable period.


Baltic HorizonFund is planning a secondary listing on the Nasdaq Stockholmbourse, following its €29.7 million IPO on the Nasdaq Tallinn Stock Exchange. The fund isalso planning a follow-on public offering in Estonia and possible offerings inFinland and Denmark to reach a wider investors base.

Baltic Horizon is expecting to raise €80 million for itsongoing acquisitions.


* and GICreceived planningconsent for their proposed mixed-use scheme in the City of London. Located at 2and 3 Finsbury Avenue Square, the development will span 550,000 square feet,and it will include office, retail, restaurant and conference space.

* into a £100 million unsecuredprivate placement that has 10-year maturity and a 2.65% fixed-rate coupon. Theplacement will be purchased by Pricoa Capital Group and MetLife.

The funds will be drawn Oct. 13, and the proceeds will beused for the company's expansion strategy.

* U.S.-basedinvestor Cain Hoy dismissed Brexit uncertainties by providing a £78 millionloan to Lodha Group,the London Evening Standard reported.The loan will be used to develop a 202-unit luxury apartment scheme in London.

It is also the largest property loan given out since thevote, according to the paper.

* AlaskaPermanent Fund is on the verge of purchasing Intu Properties Plc's Intu Bromley shopping center inLondon through LaSalle Investment Management for an undisclosed price, IPE Real Estate reported.The property comprises 501,784 square feet of retail space.

* London MayorSadiq Khan gave Transport for Londoninstructions to extend the Docklands Light Railway to Thamesmead from GallionsReach, supporting a plan to develop about 17,000 new homes in north London overnext 10 years, Property Week reported.

Germany and Austria

* Following anacquisition of a U.K.portfolio, Singaporean sovereign wealth fund GIC and student housing firm GSAhave partnered up once again to purchase astudent accommodation portfolio in Germany.

The portfolio contains nearly 1,000 student beds inFrankfurt, Darmstadt, Munster and Dresden, and a pipeline of 1,500 beds set forexpansion.

* UnionInvestment commissionedDeutsche Asset One to set up a German housing fund with an initial €170 millionbudget. The fund will invest in existing and new residential projects acrossGermany.

* soldapproximately 2,000 apartment units in Germany for an undisclosed price, PropertyEU reported.

LEG Immobilien acquired the units in early 2016 fromVonovia SE, thereport said.

France and Belgium

* A joint venturebetween Hermes Investment Management and Redevco kick-startedits €250 million investment program by acquiring the L'Espace du Palais inRouen, France. The retail property measures about 10,000 square meters andcomprises 30 units.

* In partnershipwith French hypermarket chain Cora, Belgian investment firm RLC has formed anew retail property company named Galimmo, PropertyInvestor Europe reported.The new retail venture has assets worth €530 million.  

Other Real Estate news

The Wall StreetJournal puts a spotlighton how a "handful" of hotel groups in Europe have lined up to takeadvantage of the increase in tourism in Iran. Someof the hoteliers planning to penetrate the market include Abu Dhabi's RotanaHotel Management Corp. PJSC, France's AccorHotels, Spain's Meliá Hotels International andGermany's Steigenberger Hotel Group.

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Data Dispatch:US REITs trade at a slim premium to NAV at Q3-end: The"other" retail sector, comprising single-tenant and outlet centerREITs, among others, traded at the largest premium to NAV, at 30.3%.

Data Dispatch:ChartWatch: Exit, opportunity in Moody National REITs' merger: Thecombination of the two nontraded hotel REITs, both sponsored by the MoodyNational Cos., would bring together two entities with shared leadership, amongother similarities.

Q&A:Farmland Partners CEO — 'We're after every high-quality investor we canget': S&P Global Market Intelligence caught up with PaulPittman, CEO of Farmland Partners, to talk growth strategy in the nichefarmland REIT space.

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