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Klépierre to delist on Amsterdam bourse; CapMan mulls $895M hotels sale

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Klépierre to delist on Amsterdam bourse; CapMan mulls $895M hotels sale

* Klépierre plans to delist its shares on Euronext Amsterdam NV on Nov. 7, following approval from the stock exchange. The company's shares will remain listed on Euronext Paris, and the delisting in Amsterdam is part of its consolidation efforts.

* A CapMan Oyj fund is considering the disposal of 38 hotels in northern Europe for a total of US$895 billion, Bloomberg News reported, citing unnamed sources. The company has appointed Catella Group to serve as an adviser for the future of the CapMan Hotels RE Ky fund, which bought the hotels for €805 million in 2008, according to the report, citing CapMan Real Estate Head Mika Matikainen.

* European industrial and logistics development grew 3% year over year in the first half of 2016, Property Investor Europe reported, citing BNP Paribas Real Estate. Meanwhile, the take-up for warehouse facilities that measure over 5,000 square meters across Europe was down 22% in the comparable period, the report noted.

UK and Ireland

* US fund manager Ares Management is close to purchasing a retail complex in Midlands, U.K., for £65 million, Property Week reported. The company is considering to buy the 181,809-square-foot Castle Vale Retail Park in Birmingham from M&G Real Estate.

* Sainsbury's is believed to be moving ahead with the disposal of around 425 Argos stores in the U.K. after buying the retail chain's parent company, Home Retail Group, PW reported.

* Europa Capital and joint venture partner Hobart Partners are acquiring Marriott Hotels International's headquarters on Fetter Lane in the City of London for approximately £60 million, CoStar U.K. reported. The 100,579-square-foot office building being sold by TH Real Estate generates an annual income of £3.4 million.

* Grosvenor Europe is divesting the Fleet Place House in London's Midtown for over £92.5 million, according to CoStar U.K. The majority of the 92,000-square-foot property is for office use, with tenants including Samsung and BT.

* Developer Urban Splash is set to complete the final phases of the Park Hill development in Sheffield, U.K. The second and third phases will deliver a 330-unit student housing building and around 210 residential units in the next five years, PW reported. The project's first phase included 260 homes and 10 workspaces, the report said.

* The Glasgow Chamber of Commerce approved plans for a £70 million mixed-use regeneration project on the northeast corner of George Square in Glasgow, U.K., according to PW. Chris Stewart Group will transform the site into a 35,000-square-foot complex with a 272-bed student accommodation, 258-room hotel, 43-unit residential/serviced apartments and other facilities.

* In the third quarter, foreigners accounted for 78% of commercial property acquisitions in central London, as overseas investors take advantage of the weak sterling and price discounts, The (U.K.) Telegraph reported, citing Savills. Asian capital in the city amounted to more than £695 million, while U.S. investments reached £685 million from July to September.

* Over in Ireland, Ballymore Group revealed plans for a €700 million mixed-use scheme, Dublin Landings. The project will offer 700,000 square feet of grade A office and retail space and 273 luxury apartments upon completion in 2020.

Ballymore will work on the project together with Oxley Docklands Quay Ltd. It added that the development rights for the 2.35-hectare site has been secured.

Germany

PATRIZIA Immobilien AG is looking to increase the size of its logistics operations to account for up to 20% of its overall business following the launch of its European logistics fund, PIE reported, citing an interview with managing directors Roger Peters and Arthur Tielens.

The Netherlands

Residential manager Amvest said that domestic cooperative DELA is contributing a €121 million residential portfolio into Amvest's Residential Core fund. The asset injection is the first investment under a cooperation agreement between the two.

Separately, Amvest disclosed that it doubled its financing facilities with a new €700 million loan that will allow its residential fund to buy more properties. The financing facility is being provided by ABN AMRO Bank, Deutsche Hypothekenbank and ING Bank (Germany).

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The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.