Thisfeature rounds up recent property news from S&P Global MarketIntelligence's covered companies and highlights larger deal coverage alreadypublished.
* AccorHotels has acquired five hotels in Munich andHamburg for €130 million in several transactions through its HoteInvestsubsidiary, Property Investor Europe reportedApril 5, citing a company statement.
The magazine said that the deals are for three ibis hotels,a Novotel and a Mercure hotel, bought from four different sellers throughHotelInvest.
BELGIUMAND THE NETHERLANDS
* Netherlands-based is divesting 20industrial assets and 18,905 square meters in land parcels for gross proceedsof €48.1 million, as part of its strategy to focus on office-marketopportunities at home. The company saidApril 4 that the properties to be sold to Urban Industrial make up most of itsentire industrial portfolio. The industrial assets were transferred to thebuyer on April 1, with CBRE, Royal Haskoning DHV and Loyens & Loeff actingas the company's advisers.
Meanwhile the sale of the land plots located at theFabrieksstraat, the Luchthavenlaan and the Leuvensesteenweg in Vilvoorde isexpected to be completed in the second quarter.
* McKaySecurities Plc has closed on its agreement to offload the McKayTrading Estate in Bicester and the Bartley House in Hook for £11.7 million,reflecting a combined initial yield of 3.3%, according to an April 5 . Proceeds from thedivestment will be used to finance the company's property development,improvement and acquisition programs.
The MacKay Trading Estate comprises seven individuallet warehouse units aggregating 65,540 square feet. It was sold for nearly £7.9million to an unnamed buyer. The Bartley House, meanwhile, is a two-floorbuilding that offers 21,700 square feet of office space. It was sold for £3.8million to Stonegate Homes.
* Regional REIT Ltd April 6 that it recently sold twoassets: The Blythswood House in Glasgow for £17.4 million and the SpectrumBusiness Park Unit A in Wrexham for £4.1 million. The respective deals carry anet initial yield of 5.0% and 8.5%.
Standard Life Investments bought the Glasgow property,while the industrial unit is leased to Calypso Soft Drinks until October 2020.
* U andI Group PLC said April 5 that it has secured a funding commitmentfrom Ashby Capital for the 2 Brunel Place building in Slough, U.K. The99,862-square-foot development is meant to kickstart the wider Brunel Placeregeneration, part of the £450 million Heart of Slough regeneration.
The company added that the Brunel Place commercialquarter will comprise three buildings with nearly 358,000 square feet of officespace with an investment value of around £200 million. 2 Brunel Place is set tocomplete in the first quarter of 2018.
* SEGROPlc saidApril 4 that it is teaming up with Barratt London for regeneration work on theformer Nestle plant in Hayes, west London. The agreement, subject to planningpermission, includes the development of more than 1,000 homes and 230,000square feet of industrial and logistics space.
Report:Land Securities sells part of UK garden city site: The Ebbsfleetsite in Kent, U.K., was sold to a partnership between Henley Investments andCamland, according to Property Week.
Castellum unveils business consolidation plan: TheSwedish company will consolidate all group companies under the Castellum brand,and establish a new structure with stronger local focus for its operations.
CapitaLandunit expands in the Middle East: The Ascott Ltd. inkedmanagement contracts for two serviced residences developments in Al Khobar, anew market for the company in Saudi Arabia.
Somelinks may require a subscription.