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Brookfield sells 50% London tower stake; 3 developers shortlisted for £1B scheme

* Brookfield Property Partners sold a 50% stake in the Principal Place joint venture project in London to Italy-based Antirion SGR, Property Week reported. Antirion's stake in the building will amount to £763 million, reflecting a yield of 4%.

The 621,000-square-foot tower will be Amazon U.K.'s new London headquarters once the development is completed. Principal Place is part of a mixed-use complex, which also includes a 50-story residential tower and 20,000 square feet of retail space, the report noted.

* Haringey Council shortlisted Barratt Developments, Lendlease Development Ltd. and Linkcity as potential long-term partners for the £1 billion High Road West development in Tottenham, U.K., PW reported. The proposed scheme plans to deliver at least 1,400 new homes, 51,667 square feet of retail space and 32,292 square feet of leisure space, among other facilities.

The council is expected to make a final decision on its project partner by the middle of the year, the report noted.

UK

* Starwood Capital Group LLC is discussing the sale of its stake in the planned One Braham tower development in east London, following concerns over the effects of Brexit on office space demand demand in the capital, Bloomberg News reported, citing three people familiar with the plan.

Starwood's stake in the joint venture project with Aldgate Developments amounts to more than £60 million, the report noted. Aldgate will look for a new partner for the 18-story tower before construction commences.

* Hong Kong-based Emperor Group has agreed to purchase the Ampersand building in London's West End at a price tag of £260 million, according to PW. The company will acquire the 90,999-square-foot property on 178 Wardour St. from Peterson Group, another Hong Kong-based company.

Peterson forward funded the purchase of Ampersand shortly ahead of its completion in 2013 through a £121 million deal with developer Resolution. The property generates £5.3 million in annual rental income.

* Land Securities Group Plc sold The Cornerhouse in Nottingham to Orchard Street Investment Management for £65 million. The purpose-built leisure scheme, covering 201,000 square feet, was acquired on behalf of St James's Place UK Plc.

* In a partnership with Notting Hill Housing Trust, Linkcity signed an agreement with Hounslow Council to work on the £410 million development scheme in the Hounslow town center, PW reported. The mixed-use project includes 919 new apartments ranging from studios to three-room units, among other facilities. Construction on the scheme is set to begin in January, with completion scheduled for 2019.

* JLL featured its recent U.K. Property Predictions report, which analyzed the uncertainty surrounding the process following the Brexit vote and how it may generate opportunities and challenges for real estate investors looking to invest in the U.K. this year.

Property values were a key point highlighted in the report. JLL opined that even though prices fell after the referendum, capital values saw swift stability, with some sectors like logistics assets even seeing firmer property prices. A good performance by these sectors will contribute to average property returns of about 4% for the year, JLL predicted.

The Netherlands

* Gramercy Property Europe plc purchased a 60,500-square-meter logistics warehouse in Utrecht, which is fully let to Kuehne + Nagel Logistics B.V. The deal supports Gramercy's strategy of owning properties leased to single tenants that generate stable, long-term income for its investors, according to a news release.

* Singapore-based M&L Hospitality purchased the 150-room Park Inn by Radisson hotel at Amsterdam airport and also opened an office in the city in a bid to expand its portfolio in Europe, PIE reported. M&L previously acquired the Hilton Prague Old Town and the adjacent Gestin Centrum mixed-use building in the Czech Republic from Blackstone, growing its portfolio to a total of 18 properties.

Spain

An affiliate of H.I.G. Capital acquired the Valle Romano complex in Estepona, Málaga, for an unknown price. The 46,000-square meter complex offers 430 apartments and other facilities. According to H.I.G. London Managing Director Riccardo Dallolio, this is the company's seventh investment in Spain over the last three years.

Middle East

* KBW Investments and Basma Group launched the ARADA partnership enterprise to develop prime residential properties in the U.A.E, Arabian Business reported. ARADA will aim to create communities in the mid-market segment, while pursuing development projects with a focus on the emirate of Sharjah, the report noted, citing a company release.

* According to STR, hotels in the Middle East reported negative year-over-year results for full-year 2016, while hotels in Africa recorded mixed performance in the similar period, reporting in U.S. dollar constant currency.

In the Middle East, hotel occupancy fell 2.2% to 66.2%, while the average daily rate shed 7.2% to US$174.60 and revenue per available room slipped 9.2% to US$115.59. Meanwhile in Africa, occupancy decreased 3.6% to 55.4%, but ADR climbed 10.7% to US$108.14 and RevPAR rose 6.7% to US$59.87.

Now featured on S&P Global Market Intelligence

Q&A: M7's search for 'Brexit-proof' and 'Trump-proof' investments leads to Ireland: Teresa Gilchrist, head of investor relations and new business, and John Murnaghan, head of U.K. real estate, talked with S&P Global Market Intelligence about the firm’s thinking behind its first Irish acquisition.

The Eastern Front: Luxury brands buoy Sydney retail rents: Global luxury brands are on an expansion spree in Sydney, pushing up retail rents in the city's prime spots.

Conference Chatter: 'If you're not looking forward in this business today, you're going to lose': Private real estate players at a conference in California said 2017 will likely be as punishing to the retail industry as 2016 was.

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.

Celestyn Wong contributed to this report.