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Google spending €600M on new data center; Telkom to sell South African assets


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Google spending €600M on new data center; Telkom to sell South African assets

* Alphabet Inc. unit Google LLC plans to invest about €600 million in a new data center in Hamina, Finland, to match the growing demand for its services. The data center will be Google's second in the city after the company spent €800 million to convert an old paper mill in Hamina into a data center facility in 2009.

* South African telecommunications services provider Telkom SA SOC Ltd. could sell some of its 1,332 properties to secure funds for the development of additional mobile network towers in the country. The company's property portfolio has a book value of between 10 billion rand and 12 billion rand.

Germany and France

* Demire Deutsche Mittelstand Real Estate AG paid €71.0 million to purchase a portfolio of five department stores in Germany under a share deal that is expected to close in the second half. The transaction boosts Demire's property portfolio to a total of about €1.4 billion, according to a release.

* Garbe Industrial Real Estate GmbH is expanding its logistics site in Witten, Germany, with the addition of 22,000 square meters on an area close to 75,000 square meters in the Brauckstrasse industrial estate, propertyfundsworld reported. The development is due for completion in October.

* Spanish insurer MAPFRE and GLL Real Estate Partners GmbH's property fund plans to invest a total of €50 million in two buildings in Paris and Hamburg, Germany, propertyfundsworld reported. The Paris property contains 2,000 square meters of office, retail and residential space, while the Hamburg office asset spans 3,000 square meters in the city's Cremon island, according to the report.

UK and Ireland

* Tritax Big Box REIT PLC secured outline planning approval for the development of up to 2.31 million square feet of prime logistics space at the Symmetry Park in Kettering, U.K. The 136-acre land was acquired as part of a portfolio from db Symmetry in February.

* British hotel operator Marlin Group gained planning approval from the Dublin City Council to build 20 serviced apartments and a bar and restaurant on Aungier Street in the city center, The Irish Times reported. The project will be an extension of the group's 300-room Marlin Hotel that is due to open July 19 on the adjoining Bow Lane, according to the report.


* PropertyEU reported, citing media reports, that alternative asset manager Ares Management Corp. and U.S.-based real estate group Greystar are in a race to buy a scheme for a planned residential building in Madrid. Swiss property services company Stoneweg SA will deliver the 300-unit tower in the Spanish capital.


* Private real estate company WFD Unibail-Rodamco NV is withdrawing a resolution proposing a name change from its June 11 annual general meeting as it seeks to clarify its rationale and potential impact on shareholder rights. The resolution proposes to change the company's name to Unibail-Rodamco-Westfield NV and allow the use of different trade names, including URW NV, among other changes.


* Baltic Horizon Fund's management company Northern Horizon Capital AS entered a deal to buy the Galerija Centrs Shopping Centre in Riga for €75 million, marking an entry yield of roughly 6.7%. Linstow AS is selling 100% of the shares of Tampere Invest SIA, the shopping center's owner, to Northern Horizon.

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