* Swiss bank UBS is divesting a portfolio of properties in Zurich that includes the five-star Widder Hotel to Swiss Life Holding AG for an undisclosed amount, Reuters reported. The hotel and restaurants of the properties will be held under the management of holding company IHAG.
* Aparthotel brand Native established a joint venture with developer First Base for the development of a portfolio of aparthotel units worth up to £400 million, focusing on the U.K. markets of London, Oxford, Cambridge, Bristol and Edinburgh. Half of the investment value is intended to be committed in 2018 and the remaining half will be placed in 2019.
UK and Ireland
* Atrium European Real Estate Ltd. initiated cash tender offers for two notes series, comprising its €350.0 million worth of 4.000% notes due April 2020 and its €500.0 million of its 3.625% notes due October 2022. The offer will close Sept. 7 for the two series, which have respective outstanding amounts of roughly €335.0 million and about €498.6 million.
* London Mayor Sadiq Khan confirmed a funding allocation of £228 million for four housing associations to deliver nearly 5,000 new affordable housing units. According to the Construction Enquirer, the new funds came from the £1.67 billion Spring Statement secured from the London government as part of Khan's target of building 116,000 affordable homes by March 2022.
* University College London has tapped consultancy and construction company Mace to develop the largest building at the school's new east campus on Queen Elizabeth Olympic Park, Construction Enquirer reported. The development of Marshgate I will commence in 2019 and a phased opening is expected from September 2022.
* The Crawley Borough Council chose Clarion Housing Group as the preferred developer for a £60 million town center regeneration scheme, consisting of one- to three-bedroom apartments that will sit on a 1.85-hectare site at Telford Place in the U.K., Property Week reported. Approximately half of the housing units will be sold to private buyers and the remaining units will function as shared ownership and affordable housing units.
* Watkin Jones PLC plans to construct 775 apartment units on a former site of warehouses at Leicester's Waterside area, TheBusinessDesk.com reported. About 500 of the units in the proposed five- to 12-story high building will be allotted for students.
* John Lewis secured a prelet agreement with Peel Logistics and Rockspring for a 46,353-square-foot build-to-suit warehouse in the South Central area of Southampton, U.K., Property Magazine International reported. The retailer is expected to completely occupy the facility by April 2019.
* Office construction volumes in Dublin have been hitting levels previously seen during the last real estate boom in the Irish capital, with demand for major technology companies driving the numbers up, Europe Real Estate reported, citing HWBC's H1 2018 Dublin Office Market Review report. Demand from co-working space operators also provided a boost, with U.S.-based WeWork Cos. taking a significant 15% of available market space in 2018.
* London-based investment company Roundshield Partners is understood to have bought mainland Europe's best golf course in France for an undisclosed amount, The Times (U.K.) reported.
* Approximately €281.3 million worth of notes were tendered in Citycon Oyj's up to €300.0 million tender cash offer for the outstanding amount in its €500.0 million 3.75% notes due June 24, 2020. The purchase of the tendered notes will start Sept. 3 and the company will use proceeds raised from an issuance of a subsidiary to fund the buyback.
* Technopolis plans to open in December a new co-working space for the UMA brand in a 3,000-square-meter facility in Oslo, Property Magazine International reported. The new UMA Oslo City project will consist of 42 private offices, more than 100 open area workstations and four meeting rooms.
* Raven Property Group Ltd.'s planned listing on the Johannesburg Stock Exchange received approval from the bourse. One of its subsidiaries signed a scrip lending deal for up to 400,000 ordinary shares with the JSE as part of the listing requirements.
* Hyprop Investments Ltd. terminated its plan to list its 60%-owned U.K. joint venture, Hystead Ltd., due to South Africa's weak capital market situation and feedback from potential investors. The company said Hystead will instead be held in an unlisted format for now.
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Celestyn Wong contributed to this report.