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FdR to buy 14 UK hotels; Immofinanz calls Starwood Capital's bid 'inappropriate'

* Foncière des Régions said it is in exclusive-rights talks with Starwood Capital Group for the purchase of 14 hotels in the U.K. via its unit Foncière des Murs. The portfolio, which operates under Principal Hotels Co., comprises 14 4- and 5-star hotels totaling 2,626 rooms. The deal is anticipated to be completed by the end of first half.

* Executive board of IMMOFINANZ AG called Starwood Capital's €2.10-per-share bid for the acquisition of up to a roughly 5% of its stake "inappropriate," adding that the offer price is too low in view of the Austrian company's sustainable and steady improvement in key performance indicators and the positive outlook for its business development.

An affiliate of the U.S.-based private equity firm launched independent offers to buy stakes in Austrian real estate companies CA Immobilien Anlagen AG and Immofinanz on March 22.


* Build-to-rent property operator Get Living London Ltd is looking to pour up to £180 million into the development of 756 build-to-rent homes at a five-acre development site on Globe Road in Leeds. The project will also offer a co-working hub for tech businesses and startups, as well as landscaped green spaces upon its completion.

The company is also seeking approval for a £200 million, 727-home development in Glasgow city center, in Scotland.

* Property Week reported that U.S.-based Hondo Enterprises is believed to be the ultimate buyer of London & Associated Properties PLC's Brixton Markets in Brixton after it was reported that the asset was sold in a roughly £37.3 million deal to its tenant Market Villages.

* Weston Homes plans to deliver more than 1,000 new homes in Barking under a £300 million residential scheme after signing a deal with Estates & Agency Properties for the acquisition of a six-acre site at Abbey Retail Park in the town. A full planning application for the project will be tabled in the summer of 2018, Weston Homes said in a release.

* Imperial College has awarded Ardmore Construction Ltd. a £100 million contract for the development of a 31-story student housing project in North Acton, London, Construction Enquirer reported. Plans for the scheme comprise 85 private rented sector residential units offering 600 rooms across a series of blocks, the report added.

* Developer Muse was handpicked by the Dartford Borough Council and Homes England for a £75 million regeneration of Dartford's Westgate area, Construction Enquirer reported. The mixed-use development will feature up to 140 homes, a 109-bed hotel, a multistory car park, a public square and other amenities. Construction on the site is expected to begin in 2019, following a planning approval.

* Holiday apartment provider Be Mate signed a €100 million deal with Q Capital to expand in Europe, with a particular focus on the British capital, according to PW. Under the partnership, the company will open 10 new apartments after buying the buildings in Europe.

* The Clarion housing association has agreed to buy a 4.8-acre land from Richmond-upon-Thames College for the development of 180 affordable homes on the site, PW reported. Work on the project in Richmond is set to begin after the college moves out of its campus on the site in 2019, the report added.

Austria and Germany

* Deputy CEO and CFO of BUWOG AG Andreas Segal stepped down from the executive board after a majority of the company's shareholders accepted the takeover offer from Vonovia SE. The resignation became effective March 26.

* Round Hill Capital teamed up with Starwood Capital and StepStone Real Estate to acquire a portfolio of 925 residential and commercial units across 60 properties in Frankfurt and other towns in the area.

* A partnership between Instone Real Estate Development GmbH and Nassauische Heimstätte/Wohnstadt purchased 7,000 square meters of additional space on Rödelheimer Landstraße in Frankfurt for the development of a new residential quarter in the area. Plans for the entire scheme include the delivery of about 2,500 apartments, as well as other community facilities, according to a release.


* Hispania Activos Inmobiliarios aims to delist its unit Bay Hotels & Leisure SOCIMI from the alternative stock market Mercado Alternativo Bursátil, Reuters reported, citing the company. The subsidiary was weighing several alternatives for trading exclusion from the bourse in February, including merging with 24% stakeholder Hispania.

The Nordics

* JM AB is buying the Bergerveien 12 property in Asker, Norway, from Norwegian pension company KLP for 340 million Swedish kronor. The property has plans approved for the development of 570 apartment units.

* Norwegian property developer Veidekke ASA agreed to acquire 90.1% share capital of the Swedish construction-focused Billström Riemer Andersson Bygg AB's for an unknown amount. The deal will be settled within 10 days after approval from the Swedish competition authorities.

* Klövern AB issued four-year senior unsecured green bonds worth 900 million kronor under its 2.5 billion kronor framework. The bonds have a floating interest rate of three-months Stockholm Interbank Offered Rate plus 400 basis points, with final maturity in April 2022.

* On behalf of its clients, AXA Investment Managers - Real Assets closed the purchase of the Kluuvi complex in central Helsinki from CBRE Global Investors for an undisclosed sum. The 18,600-square-meter, seven-story asset features retail and office space across five separate buildings.

* Finland-based Trevian Asset Management sold 12 commercial properties from its grocery-focused Forte portfolio to Elite Asset Management's Elite Kiinteistökehitysrahasto I Ky fund. The properties divested contain a total area of over 23,000 square meters in Finland, according to a release.


* Johannesburg-listed Hyprop Investments Ltd. intends to offer 452.0 million South African rand of senior unsecured notes due March 2023 and 348.0 million rand of senior notes due March 2025, with coupons of the three-month Johannesburg Interbank Average Rate plus 160 basis points and 190 basis points, respectively.

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The Daily Dose Europe, Real Estate edition is updated by 6:30 a.m. London time. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.

Anusha Iyer contributed to this report.

As of March 27, US$1 was equivalent to 8.22 Swedish kronor and 11.65 South African rand.