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In This List

AccorHotels to sell Orbis stake for 4.55B zlotys; Marathon sells 17 UK hotels

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AccorHotels to sell Orbis stake for 4.55B zlotys; Marathon sells 17 UK hotels

* AccorHotels said it signed a binding deal to sell its 85.8% stake in Poland's Orbis SA to AccorInvest Group SA for total proceeds of 4.55 billion zlotys. AccorInvest will buy the shares for 115 zlotys per share in a public tender offer expected to be filed Dec. 17, with the deal expected to close by the end of the first quarter of 2020.

Orbis owns and operates 73 hotels and 14,000 rooms in Eastern Europe. The transaction will expand the buyer's portfolio to more than 900 hotels and 135,000 rooms.

* Marathon Asset Management sold a portfolio of 17 hotels across the U.K. to Thai investment company DTGO for roughly £450 million, Property Week reported. The Marathon hotel portfolio comprises assets in British cities such as Leeds, Birmingham and Manchester, carrying hotel brands including Doubletree by Hilton, Hilton Garden Inn and Crowne Plaza. The seller brought the hotels to market in February with an asking price of "just under" £500 million.

* Norway's Kommunal Landspensjonskasse agreed to pay about 1.4 billion Danish kroner to acquire advisory firm Deloitte's headquarters in Copenhagen, Denmark. Deloitte Fonden will sell the building on Weidekampsgade 6, which has approximately 38,000 square meters of leasable space. The deal is scheduled to be completed Dec. 20.

* A fund managed by Catella Residential Investment Management acquired six affordable housing complexes in Europe for about €120 million. The Catella Wohnen Europa Fund bought three residential properties in Munich, Berlin and Wolfsburg in Germany for €65 million, two assets in Nieuwegein and Deventer in the Netherlands for €35 million, and a property in Copenhagen's Taastrup suburb for €15 million.

UK and Ireland

* CWT International Ltd. is selling an office building in London for £110 million, according to PW. Macquarie and Sun Hung Kai Financial are buying 17 Columbus Courtyard in Canary Wharf in a deal expected to be completed before the end of 2019. According to the publication, Savills was tapped in early 2019 to sell the building, after CWT, a subsidiary of the embattled HNA Group, defaulted on a loan and lost control on the asset. However, HNA refinanced the property's loan, thereby reclaiming control of it.

* U.K. landlord Thirteen Housing Group Ltd. secured capital worth £100 million from U.K. and U.S. investors to support the company's housing development program for the next five years, IPE Real Assets reported. Thirteen CEO Ian Wardle said the company has pledged more than £1 billion to build new homes, improve existing housing units and neighborhoods and deliver support services to customers.

* Oxenwood Catalina, a joint venture between Oxenwood Real Estate LLP and Catalina Holdings (Bermuda) Ltd. bought four last-mile logistics assets in London, Redhill and Manchester in the U.K. for £51 million. The industrial properties were acquired in four separate transactions from various private and institutional investors.

* An independent review commissioned by Persimmon PLC found the company to have made a "systemic nationwide failure" to install fire-stopping cavity barriers, putting homeowners at risk in case of a fire, The (U.K.) Guardian reported.

* Palm Logistics is forward funding two warehouse properties in Dublin with a development value of approximately £70 million, PW reported. The roughly 138,000-square-foot grade A warehouses are owned by Jordanstown Properties and are at Greenogue Business Park.

Germany and Austria

* PGIM Real Estate acquired an office tower development in Berlin from Signa Holding GmbH. The Stream building was bought on behalf of German and Swiss institutional investors as part of a forward deal. The building, which is scheduled for completion by the end of 2021, will have a total area of 50,000 square meters above ground and will house about 2,500 workspaces.

* LaSalle Investment Management Inc., on behalf of its LaSalle E-REGI fund, purchased a logistics asset in Euskirchen, Germany. The asset near Bonn and Cologne was bought from the German logistics unit of a Cologne-based online retailer in a sale-and-leaseback transaction. The building completed in September has a total area of more than 44,000 square meters and will serve as the logistics headquarters of its tenant.

* Immofinanz AG secured a €120 refinancing deal with Unicredit for the Vienna Twin Towers in the Austrian capital, PropertyEU reported.

Italy and France

* BNP Paribas REIM completed the purchase of two grade A logistics properties in Milan and Paris for €85 million, according to PropertyEU.

The Nordics

* Global hospitality company Hyatt Hotels Corp. is set to launch the first The Unbound Collection by Hyatt property in the Nordics. A Hyatt affiliate signed a franchise agreement with Primehotels Oy for the 224-room Grand Hansa Hotel in Helsinki, with opening expected in 2022, marking the first Hyatt property in Finland.

* Norwegian Property ASA sold the unit holding its Badehusgata 33-39 property in Stavanger, Norway, to a special purpose vehicle of Malling & Co. Project Finance AS for an agreed amount of 430 million Norwegian kroner. Norwegian Property CEO Bent Oustad said the sale is in line with the company's plan to focus its capital in areas with synergies. The seller owns 50% of the holding company, with Camar Eiendom holding 35% ownership and Agera Eiendomspartner with 15% ownership.

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.