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Grainger closes Grip REIT buyout; CaixaBank sells majority of property business

* Grainger PLC on Dec. 20 closed the acquisition of the entire share capital and shareholder loans in Grip REIT PLC from joint venture partner APG.

The company signed a £396 million buyout deal in November for ordinary shares, shareholder loans and minority interests that it did not already own in the real estate investment trust, which at the time was owned 75.1% by APG and 24.9% by Grainger.

* CaixaBank SA finalized the sale of 80% of its real estate business to a subsidiary of Lone Star Fund X and Lone Star Real Estate Fund. The deal also included 100% of the share capital of the bank's Servihabitat Servicios Inmobiliarios SL unit.

The real estate business was contributed to the new CORAL HOMES SL company.


* Portugal-based Sonae Sierra and Slovakian developer Peter Korbacka are understood to have jointly acquired three Spanish shopping malls for an aggregate of €485 million, PropertyEU reported.


* Joint venture partners Corpus Sireo, Swiss Life Asset Managers and Universal-Investment are buying the Oskar office complex in Munich from Hines for about €390 million. The asset at Oskar-von-Miller-Ring 20 contains 26,000 square meters of gross floor area and houses Condé Nast, WeWork Cos. Inc. and Amazon Web Services Inc., among other tenants.


* Brookfield Property Partners LP landed approval for the revised plans for its £400 million 1 Leadenhall tower at Square Mile in London, Construction Enquirer reported. The developer had revised the 35-story building's height to 158 meters from the ground floor after removing around 8 meters from the initial plan. The tower will feature 540,000 square feet of office space, 50,000 square feet of shops and cafes, as well as other amenities.

* LendLease Group secured planning consent for its £350 million athletes village for the 2022 Commonwealth Games in Birmingham, Construction Enquirer reported. Some 1,400 homes are planned to be constructed at the former Birmingham City University campus to initially house 6,500 athletes, with work on the site to begin in early 2019, the report added.

* Healthcare group Bupa sold the Goldsborough Estates portfolio of private retirement home to Housing & Care 21 for an undisclosed sum, Property Week reported. The portfolio contains 577 apartment units across 20 sites in England.

* Ebbsfleet Development Corp.'s planning committee approved plans for a new 19-unit industrial estate and a 100-unit residential development, PW reported. Benrose Property will demolish an exiting 22-unit industrial estate on the site in Ebbsfleet to make way for the new one, with Bellway Homes to deliver the residential units at another site in the city.

* The U.K. government said it is set to achieve its target of disposing of £5 billion worth of its property portfolio by 2020, London's Financial Times reported. The government has completed £2.44 billion of sales since 2015 and would need to divest a further £2.56 billion of assets in 2019 to meet its goal, the report added.

* According to an Investment Property Forum survey, real estate investors are planning to spend a total of £8.3 billion into the U.K. residential market in 2019, PW reported. The survey findings are based on responses from almost 50 institutions and large-scale investors.

Finland and Norway

* Ilmarinen Mutual Pension Insurance Co. disposed of the 11,845-square-meter Alvar Aallon katu 3 office property in Helsinki's central business district for €116 million to M&G Real Estate's M&G European Property Fund.

* H.I.G. Capital LLC's affiliate purchased office properties in Norway via three separate deals for an undisclosed sum. The assets collectively comprise approximately 100,000 square meters.


* Globalworth Poland RE paid €190 million, subject to adjustments, to buy two office buildings in central Warsaw from Unibail-Rodamco-Westfield. The company had entered a deal in late October for the Skylight and Lumen buildings.

* S+B Gruppe AG divested for roughly €110 million the Trimaran and Element office projects totaling 28,000 square meters in Prague to Allianz Real Estate. The buyer bought the assets on behalf of several Allianz insurance companies.

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Joyce Guevarra contributed this report.