* The Qatar Investment Authority has reportedly offered £590 million for the Grosvenor Househotel in London. Owner Sahara Group is seeking approval from the Supreme Courtof India for the divestment deal, which will also include two hotels in NewYork.
PropertyWeek adds,however, that Sahara still could select other buyers for the properties.
* Managers of suspended U.K. property funds are expected to startselling some of theirprime assets in the country, London's FinancialTimes reported,citing unnamed agents.
Aside from Aberdeen Fund Managers Ltd., which isstarting with thesale of two offices, Henderson Global Investors is hoping to rake in £220million from the sale of the Strand office building in central London, Reuters reported,citing a source familiar with the plan.
* An unnamed German insurer selectedPATRIZIA Immobilien AGto invest €150 million of equity to establish an approximately €300 millionresidential portfolio in Europe.
PATRIZIA said it acquired a residential site inCopenhagen for the fund that will house 68 residential units and a commercialunit, with completion expected by the 2017 fourth quarter.
* Pan-European investor Patron Capital Partners raised€949 million from the close of its fifth fund. Patron Capital V LP attractedmostly North American investors, according to a news release.
Patron said that the oversubscribed fund and itsco-investment pool have already deployed roughly €164 million on office,residential and retail properties, as well as corporate entities in the U.K.,France, Germany, Ireland, Portugal and Spain.
France,Luxembourg and the Netherlands
* AccorHotelsplans to create a "dedicated"subsidiary for its HotelInvest division.
The project will ultimately allow third-partyinvestors to hold the majority of HotelInvest's capital, accordingto the news release.
* The company also said that shareholders the company's plannedacquisition of FRHI Hotels and Resorts and its three luxury brands, Fairmont,Raffles and Swissôtel.
* A French minority shareholders' association asked financial regulatorAMF to investigate whether or not Eurosicand certain Foncière de Paris shareholders are acting in concert in relation tothe former's takeover bid for the latter, PropertyInvestor Europe reported,citing local media.
Although Foncière de Paris' supervisory boarddeemed rivalGecina's offer forthe company to be in the best interests of shareholders, major shareholdersCovéa, Assurances du Crédit Mutuel and SCI La Tricogne are still backingEurosic's offer.
The Association de Défense des ActionnairesMinoritaires is representing some minority shareholders of Foncière de Paris,according to the report. If the allegation is found to be true, the AMF isexpected to retract its endorsement of Eurosic's bid.
* refinancedtwo loans secured against its light industrial property portfolio in theNetherlands. The €145.0 million five-year facility was provided by ING Bank NVand various entities managed or advised by AXA REIM SGP.
* KanAm grundinvest Fonds signeddeals worth more than €875 million for the sale of three office buildings Parisand one each in Luxembourg and the Netherlands, as part of the German fund'sliquidation. The sale is expected to be completed in September.
KanAm said it is in talks to offload three moreproperties and is marketing the sale of 11 assets or property companies.
* Plans for London's tallest residential tower received a £320 millionboost, CoStar U.K. reported.The vehicle that owns the site is said to have completed a developmentfinancing agreement with an overseas lender.
Chalegrove Properties is building the 239-meter tall Landmark Pinnacle tower.
* Workspace Group Plcis believed to have pulled out of talksto buy the Hammersmith Embankment office complex in west London from Australianseller Goodman Group,CoStar U.K. reported,without naming sources.
* London's Evening Standard quotedUBS President Andrea Orcel as saying that the investment bank will "need"to consider relocating some of its 5,400 employees in London outside thecountry if the U.K. loses financial services passporting rights due to Brexit.
Orcel added that France and Germanyare some of the bank's options.
* According to preliminary datafrom STR, the U.K. capital's hotel sector underperformed in June compared tothe prior year. Occupancy, average daily rate and RevPAR in London declined by4.2%, 1.9% and 6.0%, respectively, year over year. Supply was up 2.5% anddemand was down 1.8% during the comparable period.
* To further a €400 million expansion plan in Ireland, Ziggurat, aU.K.-based student accommodation provider, bought a number of properties in thenorth city center of Dublin, The IrishTimes reported.
* The Wall Street Journal takesa look at how Brexit is expected to affect the commercial real estateservices market, and how "Wall Street is bracing itself for what could bea prolonged slump in the sector."
MiddleEast and Africa
STR datashows that in June, the number of under-contract hotel rooms in the Middle Eastwas up 23.5% year over year to 154,576 rooms in 550 hotels.
Meanwhile, rooms under contract during the periodincreased 29.1% to 55,736 rooms in 289 hotels.
Hiresand Fires: European, Asian real estate moves through July 12:S&P Global Market Intelligence presents a weekly rundown of recentsignificant management and board changes and personnel moves in the Europeanand Asia-Pacific real estate industries.
TheDaily Dose Europe, Real Estate edition, is updated as of 6:30 am London time.Some links require a subscription. Articles and links are correct as ofpublication time.