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No-deal Brexit could hurt UK house prices; Gazit-Globe selling shares in Atrium

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No-deal Brexit could hurt UK house prices; Gazit-Globe selling shares in Atrium

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* According to research by KPMG, a no-deal Brexit could see house prices in the U.K. fall between 5.4% and 7.5% in 2020, the Financial Times reported. The run-up to the U.K.'s planned exit from the EU has seen a substantial decline in transaction activity in London, with a no-deal Brexit-led decline in house prices of 10% to 20% not completely "out of the question" in the event that the market overreacts, the publication said, citing the study.

* Australia-based property firm LendLease Group called on Britain to avoid a "hard landing" which would hurt asset prices in the region, the London FT reported. Lendlease, which is one of the biggest foreign real estate developers in the U.K., is slowing work on a flagship project in London amid political uncertainty over Brexit, the publication noted.

* Gazit-Globe Ltd., which is in the process of buying out Atrium European Real Estate Ltd., agreed to sell 6% of Atrium's shares to Phoenix Insurance Co. Ltd. and Phoenix Excellence Pension and Provident Funds Ltd. for approximately €75 million. The Israel-based property company will trade the shares at €3.75 apiece and expects to close the deal in January 2020, subject to approval by super majority of Atrium's minority shareholders and by the Court of Jersey.

* According to PropertyEU, U.S. asset manager Apollo Global Management LLC is looking for bids in excess of €1 billion for a portfolio of assets in prime logistics markets of Germany, Belgium, the Netherlands, Luxembourg and Poland.

UK

* LXI REIT PLC acquired five long-let, index-linked properties in the U.K. totaling £55 million, reflecting a weighted average initial acquisition yield of 5.70%. The company, through pre-let forward funding, acquired a new Aldi-led scheme in Berwick-upon-Tweed in Northumberland, a new 75-bedroom Travelodge hotel in Sandwich in Kent, a new 70-bedroom Premier Inn hotel in Saffron Walden in Essex, and a new 82-bedroom Premier Inn hotel in Nottinghamshire. LXI also purchased a fully let purpose-built 178,617-square-foot industrial warehouse in Newton Aycliffe in Durham.

* According to Property Week, Ocado Retail Ltd. is set to establish a facility comprising 304,355 square feet at Segro Logistics Park Purfleet in Essex. The facility will be Ocado's fifth customer fulfillment center and its second in SEGRO PLC's portfolio. Ocado Retail is a joint venture between Ocado Group PLC and M&S.

* Tungsten Properties has acquired a 24-acre site near Downs Road in Witney from Carter Jonas, Europe Real Estate reported. The site is part of a larger mixed-use development and has outline consent for B class employment uses.

* Wakefield Council approved Avant Homes' plans for its £60.9 million City Fields project in Wakefield, which will see the development of 224 homes in the area, TheBusinessDesk.com reported. Work is underway on the development, with the first homes expected to be completed in April 2020.

The Netherlands

* According to PropertyEU, Syntrus Achmea Real Estate & Finance purchased a shopping center in Hilversum for €47 million from Dela.

Sweden

* CLS Holdings PLC is looking to sell its entire shareholding in Swedish real estate company Catena AB. CLS unit Endicott Sweden AB engaged ABG Sundal Collier to explore a sale of up to 3,971,349 shares in Catena. The per-share price will be decided through an accelerated book-building process that started Sept. 2.

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