* Klépierre confirmed it made a cash-and-share offer March 8 to acquire the issued and to be issued share capital of Hammerson PLC on a standalone basis at 615 pence per Hammerson ordinary share.
The French shopping center developer said the price represents a roughly 40.7% premium to the London-based retail developer's 437.10 pence per share closing price March 16.
Hammerson rejected the offer March 9.
The (U.K.) Times reported that Klépierre's move could be sink Hammerson's £3.4 billion merger with Intu Properties PLC. Klépierre is believed to be hoping for a potential deal with Hammerson before the Intu merger is finalized by 2018-end, the newspaper added.
* Secure Income REIT PLC raised gross proceeds of £315.5 million from its oversubscribed share placement of 86,438,000 ordinary shares, which was attributed to strong investor demand. The placement was wrapped up more than a week earlier than the planned closing. The proceeds will help fund the real estate investment trust's £436 million acquisition of two U.K. property portfolios.
UK and Ireland
* Pacific Industrial & Logistics intends to raise gross proceeds of £50 million via a share placement, subject to shareholders' approval. Proceeds raised will be used to finance the purchase of urban logistics assets in the U.K. for a gross sum of £73.6 million. Details of the placement will be released on or around March 29, according to a release.
* London & Oriental, on behalf of Hong Kong-based Lai Sun Development Co. Ltd., tabled plans for a 56-floor skyscraper at 100 Leadenhall St. in London's Square Mile, Construction Enquirer reported. The tower is set to be 263-meter high, taller than the nearby 225-meter Cheesegrater building, and will provide approximately 1.2 million square feet of space upon completion.
* British Land Co. PLC signed a deal to pay £96 million to purchase the Royal Victoria Place shopping center in Kent, U.K., from Hermes Investment Management. The 300,000-square-foot asset will see an additional 172,925 square feet of new retail and leisure space under a £70 million expansion project.
* LXB Retail Properties PLC's reorganization became fully unconditional and effective March 16. The reorganization was carried out through a scheme of arrangement.
* Landsec's unit, Land Securities PLC, launched separate cash tender offers to purchase notes under three series of bonds: roughly £583.0 million worth of outstanding 5.391% class A5 notes due March 2027, roughly £243.3 million of outstanding 5.396% class A7 notes due July 2032 and about £175.7 million of outstanding 5.125% class A11 notes due February 2036.
* Developer Balfour Beatty is close to securing a contract with student accommodation provider Urbanest for the development of a £200 million mixed-use scheme in the City of London, Construction Enquirer reported. Plans for the project include a 14-floor building encompassing 643 student homes, as well as office and innovation space for King's College London.
* Hermes Real Estate Investment Management is seeking buyer for the 196,000-square-foot Baskerville House office building in Birmingham, U.K., after placing the asset on the market for £70 million, Property Week reported. The price tag reflects a yield of 6.5%.
* The LREDS III fund of LaSalle Investment Management loaned a £22.2 million, five-year mezzanine facility to refinance a Shearings Leisure Group-managed portfolio of 40 hotels in the U.K., PW reported.
* Office space under offer in London surged 76% year over year in February to 3.7 million square feet, surpassing the 10-year average of 2.8 million square feet, PW reported. Sumitomo Mitsui Banking Corp. accounted for the largest deal of the month, after signing a 20-year lease for 161,200 square feet of space at 100 Liverpool St.
* Grocery store chain Lidl has placed a project of two student accommodation blocks in north Dublin on the market for a sum of approximately €46 million, The Irish Times reported. Under a plan, the assets will be developed, along with a new supermarket, offices, two cafes and more retail space, the report noted.
Germany and Austria
* Vonovia SE's takeover offer for BUWOG AG received acceptances from 73.8% of the latter's shareholders, corresponding to 82,844,967 BUWOG shares. An additional acceptance period took place from March 16 to June 18 for shareholders to tender their shares at €29.05 per share.
* Summit Germany Ltd. repaid debt facilities of approximately €220 million using proceeds from its recent bond issuance.
France
* Spanish insurance group Mapfre SA and Swiss Life are jointly setting up an office real estate fund to invest in France. The new vehicle will initially invest up to €150.0 million of equity, and Swiss Life will seed the fund with an initial investment of €75.0 million, comprising two Haussmann buildings in Paris.
Italy
* CBRE Global Investors divested the Galleria Commerciale Siracusa SRL holding company, which owns the roughly 25,000-square-meter I Papiri shopping center in Siracusa, Europe Real Estate reported. The asset was sold to CDS Holding SpA on behalf of CBRE Retail Property Partnership Southern Europe.
Poland
* At the 2018 MIPIM real estate trade show, developer Ghelamco and Mayor of Lódz Hanna Zdanowska revealed plans for a mixed-use scheme that would constitute a new center of the city, PropertyEU reported. The New Center of Lódz will feature a 166-room hotel, 18,000 square meters of office space, 70 residential units and commercial units. Work on the project is expected to begin in the third or the fourth quarter, the report noted.
Middle East
* Oman-based developer Union Property Development is set to begin a new affordable freehold project in Muscat comprising 307 residential units and 78 retail outlets, Arabian Business reported. The project is scheduled to be delivered in 2020, the report added.
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The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.
Anusha Iyer contributed to this report.
