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MERLIN buys Spanish asset for €380M; LondonMetric sells 2 properties for £55M

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MERLIN buys Spanish asset for €380M; LondonMetric sells 2 properties for £55M

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

* MAS Real Estate Inc. said that it entered into negotiations to acquire a regional shopping center in central and eastern Europe. It plans to undertake the purchase under the terms of a co-investment agreement between MAS and Prime Kapital Ltd.


* LondonMetric Property Plc said that it sold two retail parks for a total of £55 million. Tritax Property Income Fund purchased the 74,000-square-foot Pierpoint Retail Park in Kings Lynn, U.K., for £24.0 million. A local investor acquired the 165,000-square-foot Damolly Retail Park in Northern Ireland for £30.7 million.

* Custodian REIT Plc bought a 36,168-square-foot retail warehouse in Leighton Buzzard for £7.1 million. Homebase Ltd. occupies the property. Custodian REIT used existing debt facilities to fund the purchase.

* Dalata Hotel Group Plc conditionally agreed to acquire the operating and leasehold interest of the Double Tree by Hilton Hotel in Dublin for €2.5 million, subject to certain adjustments. The property contains 502 bedrooms, two bars, a restaurant and a lounge, among other facilities.


* MERLIN Properties acquired the Adequa business park in the Madrid A-1 corridor for €380 million. The transaction is expected to close in December.


* CapMan Oyj said that CapMan Nordic Real Estate fund agreed to offload the Bergshamra Bro property in Solna, northern Stockholm, for 858 million Swedish kronor. Solnaberg Property AB (publ) is the buyer of the 31,325-square-meter office building.

CapMan Nordic also sold two prime residential properties in Copenhagen for 321.5 million Danish kroner. Akelius Residential Property AB (publ) bought the properties, which contain 210 apartments over 15,151 square meters.

* Fabege AB offloaded the Pan 1 property in Gamla Stan, Sweden, to AB Parts & Paomees. The asset has an underlying property value of 180 million kronor and approximately 3,150 square meters of lettable area comprised mostly of office space.


* Commerzbank AG said that it reached an agreement to sell the Commerzbank Tower to Samsung SRA Asset Management for an undisclosed price. The closing of the sale would take place in summer 2017. PATRIZIA Immobilien AG was reported to be acquiring the property in Frankfurt on behalf of Samsung Asset Management in a deal worth as much as €800 million.

* LEG Immobilien AG sold 1,952 apartments in Marl as of Sept. 30, according to a filing. A fund managed by the Proper Capital Partners Fund and the German Forte group are the buyers.


* Colliers International served as the adviser for Internos Global Investors' sale of an industrial building at the Donker Duyvisweg 301 in Dordrecht, according to a release. Sagax acquired the property that covers approximately 12,000 square meters.


Hongkong and Shanghai Hotels buys out partner in London project: The company agreed to buy Grosvenor Britain & Ireland's 50% stake in the 1-5 Grosvenor Place property in Belgravia for £107.5 million in cash.

InterContinental, German group partner to develop hotels in Europe: InterContinental Hotels Group inked a deal with a German hotel group to develop and franchise 20 hotels across Europe.

UOL Group to buy London office/retail property for £230M: The property is at 120 Holborn.

British Land, GIC land planning consent for mixed-use London project: British Land and GIC received planning consent for their proposed mixed-use scheme in the City of London.

Report: Anbang circles €500M Blackstone portfolio in the Netherlands: Anbang Insurance Group is seeking to buy the properties through its Vivat NV unit, Bloomberg News reported.

Icade signs €285M worth of sale, purchase deals in Paris: Icade signed a preliminary agreement to sell a business park and an office property, and it will also acquire an office building.

Custodian REIT acquires 10-property industrial portfolio, plans to issue equity: The company acquired the portfolio for £26.8 million.