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Emaar logs H1 results; Euro Property plans tallest tower in Birmingham, UK

* Emaar Properties PJSC said its EPS for the first six months of 2019 amounted to 43 United Arab Emirates fils, a 4% decrease from 45 fils in the year-earlier period.

Net profit totaled 3.11 billion dirhams, a decrease from 3.23 billion dirhams in the prior-year period.

* An Asian investor submitted a formal offer to acquire the Southbank Place development in London for more than £875 million, London's Financial Times reported, citing two people briefed on the situation. The property accommodates the London headquarters of Shell and large WeWork coworking space that is set to open this year, the report noted.


* Euro Property Investments filed plans for what will be the tallest tower in Birmingham, rising 61 stories at 100 Broad St., Construction Enquirer reported. The 193-meter-tall project will have around 500 luxury flats. Work is slated to commence in 2021, subject to planning permission, and completion is expected in 2024.

* Helical PLC signed an amended and restated £400 million revolving credit facility with four lenders to replace an existing £150 million revolving facility and the £200 million construction loan on The Bower mixed-use asset in London. The new facility is initially repayable in July 2024 and has two one-year extension options.

Barclays Bank PLC, HSBC UK Bank plc, National Westminster Bank Plc and Wells Fargo Bank NA London Branch are the lenders.

* Legal & General has exchanged contracts to complete a privately funded development in Cardiff Central Square, comprising roughly 500,000 square feet, Europe Real Estate reported. The development, which will be carried out in partnership with the Welsh Government and Rightacres Property, is part of a €436.4 million regeneration scheme. It includes a bus station, 318 build-to-rent apartments and 100,000 square feet of grade A office space, the report said.

* U.S. multifamily real estate company Cortland purchased Leeds-based LIV Group for an undisclosed amount, according to a release. LIV's residential block management business, which provides services to roughly 8,000 leasehold properties, is part of the acquisition.


* Barings provided a €40 million senior construction loan to finance a retail park project in Dos Hermanas, outside of Seville, Europe Real Estate reported. The 64-unit, 48,646-square-meter retail park is being developed by Kronos Investment Group and a global investment management company.


* Canadian Apartment Properties Real Estate Investment Trust acquired a roughly 98%-leased portfolio of 18 Dutch residential rental assets for €163.8 million.

The acquisition of the portfolio, totaling 942 residential suites across seven urban growth markets, was funded by the company's euro acquisition and operating facility.

Czech Republic

* CBRE Global Investors, on behalf of a global separate account client, agreed to purchase the Praga Studios office building in Prague for €55 million from Skanska AB. The transaction, which comprises a multi-let 12,085-square-meter building, is expected to close in the fourth quarter. The property was completed in the second quarter.

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