The 237,801-square-foot grade A office building houses Marks & Spencer's headquarters. Gaw Capital is selling the asset on behalf of the Korean investors.
* AXA Investment Managers - Real Assets paid about €250 million to acquire a portfolio of eight nursing homes in the suburbs of Paris through financial lease agreements. The fully let portfolio was sold by GDP Vendome Group and offers a total of more than 40,600 square meters of space and 815 care beds.
* Property Week carried a report on holiday rentals platform Airbnb Inc.'s increased market share in European cities including London, Paris, Amsterdam, Berlin and Madrid, despite local legislation aimed at curtailing short-term rentals. In London, the largest market for Airbnb, the company's market share rose to 6.9% from 5%, and in Berlin, its market share increased to 6.5% from 5.3%, according to the report, which cited research by Colliers International and Hotelschool The Hague.
UK and Ireland
* Patrizia Immobilien AG's Rockspring Property Investment Managers unit sold the Cambridge Research Park in the U.K. in an off-market deal to Royal London Asset Management for £78 million. The site comprises 112 acres of space and was previously part of Rockspring's UK Value 2 fund.
* Columbia Threadneedle mandated Hanover Green to market its Coda Studios office/studio campus in Fulham, west London, for more than £43.5 million, CoStar U.K. reported. The 1.2-acre multi-let freehold campus includes tenants such as Gentleman's Journal, Royal Enfield motorcycles, TJB Super Yachts, The Gin Foundry and Tog Clothing.
* Private equity group Investra Capital Ltd. acquired the 30,000-square-foot Brandauer Works grade II listed warehouse building in Birmingham, U.K., with plans to convert it into a £30 million student housing block, CoStar U.K. reported.
* Black Sand, a Middle Eastern investor, purchased the 160,000-square-foot Sigma House in Basildon, U.K., from Legal & General for about £28.3 million, CoStar U.K. reported. The property, which serves as Sigma's headquarters, is composed of four buildings.
* Scotland is set to welcome its first purpose-built retirement development with developer Scotsbridge Holdings' plans for a £55 million luxury retirement development near Scotland, PW reported. The Netherplace Retirement Development, to be constructed on a 17-acre former industrial site, will offer 214 flats, 38 cottages and an 80-bed care home.
* Citing The Royal Institution of Chartered Surveyors, The (U.K.) Times reported that with an increase in the number of homes placed on the market in the U.K., the country's housing market is displaying signs of a rebound.
* Hines and Kennedy-Wilson Holdings Inc. are among the nine parties interested in acquiring the Dublin Living apartment portfolio in the Irish capital from Marlet Property Group Ltd., the Irish Independent reported. The fresh round of interest comes as Marlet recently ended negotiation talks with the project's former potential buyer, Round Hill Capital, which was set to pay about €450 million for the scheme.
The winning bidder will forward fund the scheme's 1,205 build-to-rent apartments. The other companies in the potential buyer group include Tristan Capital Partners, Aberdeen Investments, Angelo Gordon & Co., LRC, Greystar and Deutsche Bank subsidiary DWS Investments.
* Bouygues Immobilier SA paid an undisclosed sum to buy a portfolio of warehouses at Charenton-le-Pont in Paris, Property Investor Europe reported. The Escoffier warehouse units form part of the Charenton-Bercy urban site renewal program, which will feature a mixed-use project comprising 360,000 square meters of office, housing, retail and leisure space. The units were sold by a fund managed by Paris-based asset and investment manager Tikehau Capital.
* Fastighets AB Balder acquired a portfolio of seven hotels totaling 842 rooms in Germany for approximately €58 million. The rooms have a lettable area spanning more than 40,000 square meters and are let to hospitality group Ligula Hospitality Group AB for a 20-year term.
* In a forward purchase deal, CBRE Global Investors bought two distribution centers in Weiterstadt and Dusseldorf's Heerdt district for an undisclosed price, Europe Real Estate reported.
* First Property Group plc bought the companies owning the majority of the properties in the Krakow Business Park, PropertyEU reported
* Former Cofinimmo SA COO Xavier Denis joined AG Real Estate as its chief development officer, according to a release.
* Skanska agreed to dispose of a retirement living portfolio comprising two buildings in Alvangen for about €30.6 million to Rikshem in a deal slated for completion in the third quarter, Europe Real Estate reported. The property features a four-story building with 50 apartments and a rental housing unit composed of 28 apartments.
* Dubai developer Nakheel PJSC received 11 bids for the construction of the Dragon Towers residential twin-building complex in Dubai, Arabian Business reported, with the lowest bid for the project amounting to just below 650 million dirhams. The project consists of 1,142 one- and two-bedroom apartments and other amenities.
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Celestyn Wong contributed to this report.
As of June 13, US$1 was equivalent to 3.67 United Arab Emirates dirhams.