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Vienna office to sell for €500M; Logicor opens UK's largest available warehouse

* PGIM Real Estate agreed to a forward-purchase agreement with Austrian property company Signa Group for an office portfolio in Vienna for more than €500 million. The company signed the deal for the 130,000-square-meter portfolio on behalf of its clients, consisting of three German and Swiss pension schemes.

* Blackstone Group LP's Logicor has opened the U.K.'s largest available warehouse facility in Sheffield, spanning 614,497 square feet, following a renovation of the asset, Property Investor Europe reported.

* British Land Co. Plc CFO Lucinda Bell will resign from the board and the company April 4, 2018. Bell joined the board in March 2011 and was named CFO in May of the same year.

UK and Ireland

* Days after pledging £10 billion in funding for the Help-to-Buy scheme, British Prime Minister Theresa May pledged a further £2 billion of government funds for local authorities across the U.K. for the construction of more affordable housing, Property Week reported.

* Elliot Group signed a £100 million deal with developer Forrest for the development of a student accommodation-led, mixed-use project in Liverpool, U.K., Construction Enquirer reported. The project includes 142 rental apartments and 1,007 student rooms.

* LondonMetric Property Plc acquired a 40-acre Bedford Link site in the U.K., with plans to invest £60 million to construct up to four regional distribution warehouses.

* SEGRO Plc launched and priced two new series of bonds, worth £350 million and £400 million each, in principal amount.

Consequently, the company successfully executed the repurchase of £550 million in existing notes across four tranches, reflecting a cash cost of £677 million.

* Nama has mandated Hooke & MacDonald to offload a portfolio of 124 apartments and a 1,530-square-meter commercial unit in Dublin's docklands for a guide price of €33 million, the Irish Independent reported. According to a report by The Irish Times, the sale is expected to attract interest from Irish Life and several overseas funds.

* Diageo is on the hunt for a development partner to transform 12.6 acres of its St James's Gate site in Dublin into a new urban quarter, which will offer residential, office and commercial space, The Irish Times reported. The project could deliver 63,000 square meters of office space, 5,000 square meters of retail area, and 22,000 square meters for hotel and leisure facilities, the report noted.

Germany and Austria

* Goldman Sachs Group Inc. is leasing space at the Marienturm tower that is being built in Frankfurt's financial district as it prepares for the U.K.'s European Union exit. The lease deal covers about 10,000 square meters of office space, which could house about 1,000 workers.

* TLG IMMOBILIEN AG and WCM Beteiligungs- und Grundbesitz-AG's management boards have signed a domination agreement, which will be forwarded for an approval at TLG's extraordinary general meeting. WCM shareholders who have not accepted the takeover offer will receive a guaranteed dividend of 13 euro cents per share during the domination agreement period. Additionally, those shareholders will be offered 4 new TLG shares of no par value shares, with a notional share in the share capital of €1.00 apiece, in exchange for every 23 WCM shares.

* UBM Development AG exchanged roughly more than €84 million of its five-year 4.875% 2014 bonds with new five-year 3.25% 2022 bonds at the offer's closing Oct. 2. The bonds were exchanged at a conversion rate of 1:1, along with a cash premium of €28.78. Meanwhile, the subscription offer for the new bonds of up to €120 million will run from Oct. 4-6, with the issue price set at 101.50%.

Luxembourg and Belgium

* Marking its second deal in Luxembourg, Allianz Real Estate paid €178 million to purchase the Vertigo Real Estate Complex in the Cloche d'Or district from Starwood Capital Group and Rynda Property Investors. The 100%-leased complex comprises two buildings with an office area of roughly 24,300 square meters and 195 parking spaces, with a third building currently under development on the site.

* La Française Real Estate Partners International acquired a 60% interest in the joint venture that holds a 77,000-square-meter office complex in Brussels, on behalf of a club of South Korean and French investors, IPE Real Assets reported. The stake in the two-building complex was sold by Belfius and AG Real Estate.


* Globalworth Real Estate Investments Ltd.'s unit agreed to acquire at least 50.01% and up to 67.90% of the issued share capital of Griffin Premium RE, by way of a public tender offer at a price of 5.50 Polish zlotys per share, amounting to a total cash sum of between 429 million zlotys and 583 million zlotys.


* Orava Residential REIT plc has appointed HLP Corporate Finance Ltd. to review the terms of a public tender offer from Investors House Oyj, which it deemed "too low" and unacceptable. Investors House launched an offer in August, to exchange three shares of Orava for two new Investors House shares in addition to a cash consideration of 21 euro cents for each Orava share.


* Developers Multi Corp. and Linstow Center Management will splash €55 million on the 30,000-square-meter expansion of the Alfa shopping center in Riga, PIE reported. The asset will be expanded to provide a total area to more than 100,000 square meters and house 250 tenants, up from the current 170. Work on the project is scheduled to be completed in August 2019, with Swedbank Latvia loaning €40 million for the construction.

Other real estate news

* London's Signal Capital Partners collected €725 million for two funds focused on credit and real estate special situations. The real estate opportunities fund will focus on private lending opportunities, purchase of debt portfolios and equity special situations.

* H.I.G. Realty Partners LP seeks to raise US$600.0 million for its newly launched H.I.G. Europe Realty Partners II LP fund. The company targets opportunistic investments in small-to-midsized real estate assets across all property types in the U.S. and Europe, with a key focus on special situations, according to its website.

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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.