trending Market Intelligence /marketintelligence/en/news-insights/trending/k7qmvzuvk8ywlprid5zbbw2 content esgSubNav
In This List

Persimmon's revenues rise in H1; Threestones to amass €550M for Eurocare fund


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Persimmon's revenues rise in H1; Threestones to amass €550M for Eurocare fund

* U.K. homebuilder Persimmon PLC recorded a year-over-year increase of 5% in its first-half revenues to about £1.84 billion from £1.75 billion. The company's housing revenues accounted for £1.74 billion of the total, also up 5% on an annual basis.

* Luxembourg-based Threestones Capital Management SA is targeting gross assets of roughly €550 million for its Eurocare care property fund, which is expected to have a final close by 2018-end, Property Investor Europe reported.

The fund was rolled out in 2017 to invest in sustainable care properties across Germany, Italy and Spain, and presently holds two such properties in Germany and three in Italy. The investment manager is assessing additional investments worth approximately €200 million for the vehicle, according to the report.


* City of London planners endorsed consent for Lai Sun Development Co. Ltd.'s 56-story building project at 100 Leadenhall, Property Week reported. The development is subject to approval at a committee meeting on July 10.

* Ceiba Investments, a Cuban real estate fund, plans to raise £100 million in capital via a listing on the London Stock Exchange's specialist fund segment. The fund is backed by Standard Life Aberdeen PLC, d/b/a Aberdeen Standard Investments. Ceiba is the largest fund investing solely in Cuba, with approximately £130 million worth of assets.

* UK Commercial Property REIT Ltd. and a CBRE Global Investors client jointly acquired the White Building in Reading from Boultbee Brooks Real Estate for roughly £51 million.

In a separate deal, the company the company sold for £27.6 million its 1 Rivergate office asset at Temple Quay in Bristol to the West Midlands Pension Fund.

* M&G Real Estate is buying 186 build-to-rent units at the £1.2 billion Colindale Gardens development in Colindale, north London, from Redrow Homes for £82.7 million, PW reported. Redrow will use funds from the sale to finance the construction of the rental homes under the project, which are slated to be delivered in 2021.

* Byrne Group's development arm, Ellmer Construction, was appointed by Great Portland Estates PLC to convert the Cityside House site in Whitechapel, London, into 74,700 square feet of prime office and retail accommodation, Construction Enquirer reported. Works on the project are expected to be completed in the fourth quarter of 2019.

* FORE Partnership bought the Tower Bridge Court office asset in the British capital for £51 million and plans to transform the property into a creative workspace through a joint venture with developer Landid, PW reported. The building was purchased from mutual marine insurance provider West of England.

* Lothbury Investment Management paid £56.3 million to acquire a Travelodge hotel on Union Street in Southwark, London, on behalf of a U.K. pension fund, IPE Real Assets reported. The freehold asset features 202 rooms and 7,250 square feet of ground-level retail and dining space.

* Alcoholic beverage producer Diageo is believed to be in search for new headquarter premises of around 155,000 square feet in west London or the city's West End district to relocate from its 156,784-square-foot building near the Park Royal underground station, PW reported. The company's lease on its current offices expires in 2022.

France and the Netherlands

* Dutch property developer ASR Real Estate Development's retail fund received an injection exceeding €275 million from three pension schemes. The ASR Dutch Prime Retail Fund holds over 360,000 square meters of total lettable floor area across single high street units, shopping centers and supermarkets.

* Retailer Casino Guichard-Perrachon SA entered into a €101.3 million sale-leaseback deal with developer DCB International Sarl for its headquarters building in Saint-Etienne in France. Casino will lease the 40,000-square-meter property for 12 years.

* Real estate investment trust Altarea Cogedim divested the 27,000-square-meter Kosmo office project in Paris' Neuilly-sur-Seine suburb to insurer Société Générale Insurance, according to a release. The development comprises two buildings and was held by the AltaFund office fund.

* PIE reported that Valor Real Estate Partners LLP spent an undisclosed sum to buy a logistics park in the French capital via its Valor Industrial Partners 1 joint venture with insurance group AIG. The company plans to redevelop and reposition the fully leased 62,000-square-meter asset.

* The volume of commercial real estate investment in France reached €10.7 billion in the first half, registering a 34% jump year over year, PIE reported, citing property consultancy Knight Frank. Total volume for the full year is estimated to amount to €25 billion, according to the report.


* Globalworth Poland Real Estate NV obtained a €100 million investment loan to fund the purchase of four office properties in Poland. German lenders Helaba and Deutsche Pfandbriefbank AG were the joint lead arrangers for the seven-year facility.


* Real estate company Corestate bought a 260-unit serviced apartment property in Munich to target young professionals, business travelers and project employees visiting the city, PIE reported. The 8,300-square-meter asset was previously an office building, and includes common rooms, a gym, and training and conference space.

Middle East

* Construction company Azizi Developments is set to complete five further residential projects, comprising a total of 1,744 units, in Dubai's Al Furjan community by 2018-end, Arabian Business reported. The units are under construction across the company's Shaista Azizi, Samia Azizi, Azizi Star, Farishta Azizi and Azizi Plaza development projects.

Other real estate news

* U.S.-based Digital Realty Trust Inc. is reportedly in talks for the acquisition of Brazilian data center operator Ascenty Ltda., which is valued at over US$1 billion. Ascenty is majority owned by private equity firm Great Hill Partners LP, with a minority stake held by Blackstone Group LP's Blackstone Tactical Opportunities Advisors LLC.

Now featured on S&P Global Market Intelligence

Techtonic Shift: London tech sector grows up and moves out of Silicon Roundabout

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.

Celestyn Wong contributed to this report.