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Civitas pays £9M for UK assets; The Student Hotel buys 5 European properties

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Civitas pays £9M for UK assets; The Student Hotel buys 5 European properties

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

UK

* Civitas Social Housing PLC acquired five supported living assets in the U.K. for £9.0 million. The properties are set to be managed by Chrysalis Supported Association Ltd., Encircle Housing Ltd. and Falcon Housing Association.

* Lok'nStore Group PLC purchased a property in Cardiff, which it plans to revamp into a store at a total capital cost of approximately £5 million. The store will encompass about 45,000 square feet of lettable space upon completion in early 2019.

The self-storage company also bought a 2.2-acre development site in Cheshunt, Hertfordshire, to develop a 60,000-square-foot store. The project is expected to cost £7 million to £10 million in net capital, with the store opening scheduled for late 2020.

* Triple Point Social Housing REIT PLC agreed to pay £4.4 million, excluding costs, to acquire 27 units across six properties in the U.K. The company signed new 20-year fully repairing and insuring leases for the assets with Falcon Housing Association, My Space Housing Solutions, Chrysalis Supported Association and Inclusion Housing CIC.

* Workspace Group PLC received planning consent for the renovation of the 12-13 Greville St. and 14 Greville St. assets in Farringdon, London. The properties comprise 15,000 square feet of space across two three-story office buildings. Plans for the £9 million revamp include the addition of a five-story building with 23,000 square feet of net lettable area.

Meanwhile, at The Biscuit Factory in the city's Bermondsey district, the company secured planning permission for 27,000 square feet of additional commercial accommodation expected to cost £10 million. The nine-building property will total 275,000 square feet after completion of the expansion.

Other geographies

* Turkey's Is GYO AS agreed to sell Kartal Land in Istanbul to Rüstem Eyüboglu Egitim Kurumlari A.S. for 4.5 million Turkish lira. The land plot, referred to as parcel No. 395, spans 1,204.05 square meters.

* Amsterdam-based The Student Hotel bought five assets in Europe as part of its goal to increase its portfolio to 65 properties across the continent in five years, IPE Real Assets reported. The deal involves sites in Paris; Lisbon and Porto, Portugal; Barcelona; and Florence, Italy.

Additional coverage

Owners explore €2.8B sale of Banco Santander HQ in Madrid

Lendlease, Starwood take over £1.2B Silvertown Quays project in London

Report: Lendlease loses AXA's interest for £510M stake in UK shopping center

US-based Lincoln Property JV spends £70M on London mixed-use site buy

MedicX Fund acquires 12 UK healthcare facilities for £63.8M

Ayesha Waqar contributed to this report.

As of June 12, US$1 was equivalent to 4.57 Turkish lira.