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Apple sets new record with London's West End HQ deal; Spanish housing REIT debuts

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Apple sets new record with London's West End HQ deal; Spanish housing REIT debuts

* is set to makethe Battersea Power Station in London its new U.K. headquarters after BatterseaPower Station Development Co. confirmed that the tech giant signed a lease deal for500,000 square feet of space at the Boiler House building. Apple is expected tomove into the new space in 2021.

London's FinancialTimes also reported on the news.

Battersea Power Station added that the agreement with Appleis the largest office letting in London's wider West End in the last 20 years.The new Apple campus will account for about 40% of the total office space atthe mixed-use project.

* Optimum Re Spain SOCIMI made its debut on Madrid's alternative market Sept. 28.Its shares closed at €10.30 apiece, up from the €10 openingprice.

The new housing-focused REIT is valued at €50 million,according to regulatory information.

UK and Ireland

* Tritax BigBox REIT Plc it is looking to raise £150 millionthrough an offering of up to 113,636,364 new ordinary shares priced at 132pence apiece.

The company expects to use the net proceeds from theissuance to buy investment assets in the U.K. Its manager is already in talksfor the properties, which are expected to be value accretive in the medium term.

* Unite GroupPlc saidit divested two of its U.K. student housing assets for £88.4 million. The fullylet properties in Portsmouth and Coventry were sold to the company's UK StudentAccommodation Fund.

* The Leeds, U.K., City Council and its development partners,Keepmoat and Strata, are moving forward with a £142 million housing developmentin Leeds, The (Yorkshire, U.K.) Business Desk reported.The partners expect to deliver more than 950 homes.

* The U.K.'sDepartment for Communities and Local Government is proposingto hike the respective average business rates bills for retail and officeproperties in London by 14% and 10%, starting April 2017. The department isseeking views on the proposal until Oct. 26.

* Over in Ireland, Fitzpatrick Lifestyle Hotels Group andPatron Capital Partners sold three hotels in Dublin to the John MalonePartnership, the Irish Independent reported.The Spencer, Morgan and Beacon hotels are believed to have been sold for morethan €150 million, according to the report.


* HNA Group said "it remains deeply troubled" after itsinjunction to suspend the resolutions passed at a  general shareholders meetingof NH HotelGroup was denied by the Companies Court of Madrid.

Germany and Austria

* Mähren AG has added 17 multifamily homes in east Germanyto its portfolio for €50 million, PIEreported,citing a German-language statement.The company, formerly known as Mähren Gruppe, is also mulling a potential IPOin the future.

* A day after disclosinga more than €350 million deal for three development sites in Cologne, Germany,Warburg-HIH Invest Real Estate GmbH said it bought the NuOffice III in Munich.The building was sold by Hubert Haupt Immobilien Holding for an undisclosedamount.

* AXA Investment Managers completed the purchase of a retailand hotel development opportunity in the city center of Leipzig, Germany. Theproperty was acquired on behalf of its clients from Centrum group, according toa statement.The asset offers a total of 14,300 square meters of retail space and a hotel.

* In a partnership with a U.S. investment manager, M7 RealEstate acquired a184,200-square-meter logistics warehouse in Unna near Dortmund, Germany. M7Real Estate will take over the asset management of the property.

* Tishman Speyer carried out an office acquisition in Berlinon behalf of its TSEV VII fund, Europe Real Estate reported.Media group Bertelsmann sold the Pressehaus am Alexanderplatz property, whichcontains 27,500 square meters of office space.

* The Austrian subsidiary of , STRAUSS &PARTNER, has started construction on 128 freehold apartments in the Favoritendistrict of Vienna. The MySky development will contain two buildings and shouldbe complete in autumn 2017.


* PIE reportedthat BlackRock is the previously undisclosed buyer of the Tour Europe high-risein Paris' La Défense district. KanAm's grundinvest property fund the building, which wasvalued at €175.5 million at 2013-end, earlier in September.


* An unnamed Chinese investor purchaseda luxury resort in Dubrovnik in what is thought to be the largest hoteltransaction in eastern Europe so far this year, according to broker Christie& Co.

Erste Group Bank AG sold the Radisson Blu Resort & SpaSun Gardens for an undisclosed amount. The property ranks among the largesthotel complexes in the country.

Middle East

* Bahrain-based developer Diyar Al Muharraq received US$366million in Islamic financing from four banks for a new residential scheme, accordingto Reuters. The first phase of the 1.2 million-square-meter Deerat Al Oyounproject is slated for completion in February 2018.

Other real estate news

* The Republic of Turkey is seeking permission for a35-story building in Manhattan, N.Y.'s Midtown East that will serve as theConsulate General of Turkey's headquarters, TheRealDealreported.

The 217,500-square-foot Turkevi Center will be located at821 United Nations Plaza. The building will offer 101,869 square feet of officespace and 40,915 square feet of residential space, among other things,according to a permit application filed with the city's Department of Buildings.

Now featured onS&P Global Market Intelligence

Data Dispatch:September state of the housing market: Recent data showed the U.S.housing market remained on generally solid ground in August, albeit with new-and existing-home sales and housing starts declining from their July readings.

Data Dispatch:REIT capital-raising activity up 14.2% YOY through mid-September:U.S. REITs have raised the most capital via senior debt offerings year-to-datethrough Sept. 15.

CorneringMarkets: Still plenty of potential in German micro-living, studenthousing: Shifting demographics have created a rising gap betweenGerman housing supply and demand, creating new opportunities for investors inthe micro-living segment.

The Daily Dose Europe, Real Estate edition, is updated asof 6:30 a.m. London time. Some links require a subscription. Articles and linksare correct as of publication time.