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QIA consortium eyes stake in Indian developer; NY group plans £1B UK shopping spree


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QIA consortium eyes stake in Indian developer; NY group plans £1B UK shopping spree

* A consortium of Qatar Investment Authority and Abu Dhabi InvestmentAuthority are in the running for a 40% stake in a major Indian developer.According to a report,the Middle Eastern funds are partnering with local Kotak Realty Fund for the130.00 billion-Indian-rupee stake in DLFLtd.'s rental arm.

GIC, Blackstone, Warburg Pincus, Brookfield Asset Managementand another unnamed bidder are the other shortlisted companies in the race.

* According to London's FinancialTimes, opportunistic investor Madison International Realty is planning tospend over £1 billion on properties in the U.K. over the next six to 18 months,as Brexit placed a discount on the country's real estate market. The NewYork-based private equity firm is tippedto be interested in properties owned by some of the property funds that wererecently suspended from trading.

* Meanwhile, FT carried aseparate featureon the state of open-ended property funds in the U.K. The paper said thataccording to a "detailed analysis," the risk of other similar fundsfrom also sufferingfrom Brexit is "much greater than firstfeared."

Reutersand The (U.K.) Times also had their take onthe property funds market.

UKand Ireland

* London-listed MirLandDevelopment Corp. Plc said that it agreed on a debt settlement agreement withSberbank in connection with the approximately US$160 million loans that itssubsidiaries owe the Russian bank.

* According to The (U.K.) Guardian, paid £1billion for the Dundrum Town Centre in Ireland. The company did notdisclose the purchase price when the deal was .

The Irish SundayIndependent added that Hammerson CEO David Atkins reportedlysaid during a conference call that the acquisition could help soften the blowof Brexit in the U.K.-based company's portfolio.

* Hibernia REIT Plcis bringing its complaints over its rights to the common areas of the Gardaregional headquarters in central Dublin to the High Court, The Irish Times reported.The developer bought theproperty in 2015 for €70 million, with publication noting that Hibernia REITplans to invest another €100 million to redevelop the asset.

* Back in the U.K., PrologisInc. leased a total of 470,000 square feet of speculatively builtunits in the Midlands to Jaguar Land Rover, PropertyWeek reported.

* Select Property Groupreceived planning permission for a two-building residential project inManchester, U.K. Construction Enquirer reportedthat the two towers will operate under the Affinity Living brand and offer 506units.

* Australianfashion chain Taking Shape closed all of its 25 stores in the U.K., accordingto a reportfrom CoStar U.K.

* FT takes a look at how theBrexit-induced market uncertainty has affectedthe U.K.'s property market, and how, it seems, confidence in the retailsubmarket is cracking.

* Data fromflat-sharing website shows that the number of middle-aged peoplein shared flats is growing, The (U.K.)Telegraph reported.The trend is partly attributable to soaring property prices, the publicationsaid.

* London Evening Standard reportsthat interest rates in the U.K. are expected to be slashed to a historic low toassist in the recovery of the post-Brexit U.K. economy.

* The price of an average three-bed semi in Ireland in June was up4.49% from the year-ago period, the IrishIndependent reported,citing data from the Irish Independent/Real Estate Alliance Average House PriceIndex.

Germany and Austria

* alstria office REIT-AG,through , agreed tosell an approximately 90,000-square-meter office building in Berlin for€230 million.

The property is fully leased to Allianz, who will endits lease in mid-2019.

* agreedto buy two office properties in Düsseldorf and Hamburg for €49.5 million. TheU.K. company plans to fund the transaction with existing cash resources and debtfrom German lenders.

* Following in onthe footsteps ofFrance, officials from Frankfurt and Berlin are said to be preparing theirpitches to lure Britain-based companies to relocate to the respective German cities,The Wall Street Journal reported.

* Retail propertyasset manager Hahn launched a €500 million retail property fund, with hopes forabout half of it to be subscribed for by institutional investors, Property Investor Europe reported.The Hahn German Retail Fund II will invest in large retail assets like retailwarehouses, DIY stores or superstores in Germany.

* The second realestate fund that TH Real Estate launched to focus in Austria is fully invested.The €300 million O¨sterreich Fonds Nr.2 vehicle recently bought a retailwarehouse in Vienna, accordingto IPE Real Estate.


* Atrium Ljungberg ABcompleted a deal tobuy a 28,500-square-meter office property in Sundbyberg in Stockholm. Thecompany's maiden acquisition in the municipality had an approximately 1.06billion Swedish kronor price tag.

The three-building complex with a 93.5% occupancy ratewas sold by Areim.

* Fabege AB inreporting its most recent financial results said that Stockholm's property isin "very good"conditions, adding that the property and rental markets are still strong.

* Platzer FastigheterHolding AB saidit received approval from the country's building committee for the first phaseof a project in northern Högsbo in Gothenburg. The project has permission forup to 120,000 square meters of building space.


Deloitte's Grand Paris Crane Survey showed that due toa sharp rise in completed projects, new office space under construction in thecapital dropped 18% year over year in March, PIE reported.


Capital Economics said that 2016 investments in theregion is expected to be a record high on the back of first-half investmentincreasing 6% year over year to €18.6 billion and the likelihood of U.K. moneybeing diverted to the Nordics, PIE reported,citing the research house.


The Weekin European Real Estate: Brexit tremors hit UK property funds; British Landinks £400M London sale: The July 8 edition of the weekly newsroundup of the European real estate space also includes news of the €490million acquisition in Paris by a Middle Eastern investor.

The PropertyLedger: Gecina wraps up €1.35B sale of health care property portfolio:The July 8 edition of European property news recap also featuresAustralia-listed Goodman Group's joint venture for a logistics facility inSpain.

Best ofSNL: Real Estate, most read: The 10 most read real estate articlesfor the week ending July 8.

Best ofSNL: Real Estate, editors' picks: Our real estate editors' picksfor the best stories of the week ending July 8.

TheDaily Dose Europe, Real Estate edition, is updated as of 6:30 am London time.Some links require a subscription. Articles and links are correct as ofpublication time.