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Brockton sells UK complex for £100M; Heitman buys German residential portfolio

* Brockton Capital LLP sold a 439,000-square-foot engineering research and development complex in Edinburgh's Crewe Toll area for £100 million in one of Scotland's biggest property transactions in 2019, The Times (U.K.) reported. The property, which sits on a 16-acre site in Leonardo, was sold to an unnamed South Korean investor.

* Property investor Heitman boosted its German footprint with the acquisition of 285 residential units, eight commercial units and 132 parking spaces for an undisclosed amount. According to IPE Real Assets, the rented-residential properties, located across three metropolitan regions, provide a total lettable area of over 17,000 square meters.

UK

* Industrial developer Chancerygate and investment company JR Capital partnered to establish a £100 million fund that will invest in the multilet industrial sector in the U.K., Property Week reported. The partners raised £25 million of equity from JR Capital's private and institutional clients based in the Middle East, with further closes expected shortly.

* London and Oriental Properties divested an industrial and warehouse distribution park in Wolverhampton, U.K., to Goold Estates Ltd. for an undisclosed amount. TheBusinessDesk.com reported that the portfolio comprises units 1 to 7 of the business park and spans 457,000 square feet in total.

* Residential developers Wates Residential and Orbit have secured planning permission for the €107.4 million redevelopment of three 13-story buildings in Erith, South London, Europe Real Estate reported. The partners will develop 320 new homes on the site, with 80% of the units to be allotted for affordable rent and shared ownership housing.

* Morgan Sindall Construction lodged plans for two projects that will form part of the first phase of the Liverpool Paddington Village regeneration scheme, Construction Enquirer reported. The plans are for the £40 million, 221-bed Novotel hotel and a 12-story carpark that will feature 1,245 bays.

* Omenport Developments Ltd. signed InterContinental Hotels Group PLC to manage the 151-room Hotel Indigo London - Clerkenwell that is expected to open in 2021, Property Magazine International reported. The hotel is set to be the fifth Hotel Indigo in London.

* Sky Betting & Gaming owner The Stars Group will lease 134,000 square feet of office space in developer and asset manager MEPC's 4 Wellington Place, PW reported. The property is part of the wider 1.5 million-square-foot Wellington Place development in Leeds, U.K.

France

* Icade has partnered with HEC Incubator to launch Urban Odyssey, a smart city startup studio that will assist entrepreneurs in developing their business by gaining access to HEC's ecosystem resources.

Spain

* Greystar Real Estate Partners LLC bought a 100-unit private rented residential building at 48 Gran Via in Madrid, marking the company's first foray in the country's private rented sector, IPE Real Assets reported. Greystar paid an undisclosed sum for the property that the buyer plans to reposition.

Middle East

* Azizi Developments LLC is aiming for a third-quarter delivery of its Azizi Plaza residential project in the wider Al Furjan development in the United Arab Emirates, Arabian Business reported. The building will feature 434 units with over 25,500 square meters of gross floor area.

* JLL said in a report that there is growing global investor interest in the UAE's industrial and logistics sector fueled mainly by the rise in e-commerce and digitization of the supply chain industry, Arabian Business reported. The global real estate adviser added that Transworld Group's sale-and-leaseback deal for its logistics facility in the Jebel Ali Free Zone shows positive investor in the sector.

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