This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.
agreed to buy two assetsin Milan and Rome for €145.5 million, according to a . The commercial properties,Gioiaotto in Milan, and Palazzo Sturzo in Rome, total 27,332 square meters.Gioiaotto, to be acquired for €65.3 million, is leased to tenants includingRoland Berger and Grant Thornton, while Palazzo Sturzo, valued at €80.2million, houses tenants like Fastweb and Axa. The 100% leased properties arebeing sold by real estate fund MH Real Estate Crescita.
Theacquisition is slated to be settled within "30 days."
UK AND IRELAND
* that it has seen "no directimpact to date" following Brexit, according to the company's fiscalfirst-quarter trading update. Although it expects primary care infrastructureinvestment to be affected by the referendum, the developer is banking on theNational Health Service's plans to prioritize primary care investments, amongother factors.
* WK Nowlan REIT ManagementLtd. will cease tobe the investment manager of Hibernia REIT Plc, following authorization from theCentral Bank of Ireland. The Irish regulator has authorized Hibernia REIT as aninternally managed alternative investment fund, as defined by EU regulations.Hibernia its acquisition of WKNowlan in November 2015, as part of its management team internalization.
* A new 50,000-square-footPrimark anchor store is coming to UK Commercial Property Trust Ltd.'s Charles DarwinShopping Centre in Shrewsbury, U.K., PropertyWeek reported.UK Commercial will redevelop nine existing units into a new two-floor flagshipstore, according to the report.
* acquired IESISLtd.'s student accommodation property in Bath for £2.6 million, excludingcosts. The property is a newly constructed 31-bed student housing development.
* Starwood Hotels & Resorts Worldwide Inc. will openits first W Hotels brand property in Scotland in 2021, according to arelease. The hotelwill stand 12 stories tall and offer 214 rooms. The hotel will be part of THReal Estate's £850million Edinburgh St James scheme.
bought an approximately23,000-square-meter, eight-floor office property in Amsterdam for €57 million,excluding costs, from an undisclosed seller, according to a . The company acquired theGlass House property on a price that reflected a gross initial yield of over11%. NSI plans to use current credit facilities to fund the purchase.
HispaniaActivos Inmobiliarios SOCIMI SA said it paid €28 million to buy the owner of the HotelOasis Resort in Costa Teguise, Lanzarote in Canary Islands. The company madethe purchase through its subsidiary Bay Hotels & Leisure SA.
Barceló Group will operate the hotel under a fixed andvariable lease contract.
* Emaar Properties PJSC and Dubai Holding are reviving astalled project to build a tourism-focused scheme in Dubai, Arabian Business reported,citing a local media's interview with Dubai Holding CEO Fadel Al Ali. Thescheme is estimated to cost around 100 billion United Arab Emirates dirhams andwas first announced in 2007.
: Citing concerns about Brexit's impacton property values as a factor in the decision, Great Eagle Holdings ChairmanLo Ka Shui called the recent trading suspensions from seven listed propertyfunds an "extremely drastic measure," according to Bloomberg News.
: The loan was provided by Chinesebank Ping An.
Council signsoff on £4B Brent Cross Cricklewood regeneration: A joint venture ofHammerson and Standard Life Investments will redevelop their co-owned retailasset, while a joint venture between Barnet Council and Argent Related willdevelop the homes and a new high street.
: The hotel was converted into a143-room hotel from a 1930s-era office building.
: CEOChris Grigg added that it is "too early" to properly determineBrexit's effects on the company's operations, but it is expected that sometenants and investors will be more cautious on the market.
: The French company exercised a purchase optionwith the Spain-based NH Hotel Group for the 900-room hotel portfolio.
: Theproperties are the Manor Walks Shopping Centre and a 4,000-square-meterproperty leased by The Range.
: The acquisition was made on behalf of the company's PATRIZIAGewerbeInvest Deutschland II fund, which is now fully invested with a totalvolume of €800 million.
: Grainger and APG converted their private rented sectorinvestment vehicle into a U.K. REIT with more than £600 million of initialassets.
: The company originally planned toconvert the property into a hotel and retail center but failed to land approvalfrom the authorities to demolish the building's facade.
: The $56.0 million Novotel Dubai Creek hotel, expected tobe operational in 2018, will be operated by AccorHotels' Novotel brand.
: The company agreed to acquire 1,905 residential andcommercial units through a share acquisition deal with several German andLuxembourg entities.
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