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SEGRO to fully redeem £200M notes; £100M co-living asset goes on sale in London

* SEGRO Plc will fully redeem the £200 million in outstanding 5.50% notes due 2018 on June 16. The notes will be redeemed at their redemption sum of about £210.4 million, together with accrued interest, and then canceled.

* The Collective put a London-based co-living scheme on the market and is seeking offers upwards of £100 million. The company tapped Jones Lang LaSalle Inc. and Savills to seek a buyer for the 323-flat property in Old Oak that has 546 residents and 35,000 square feet of commercial and retail space.

UK and Ireland

* Linden Homes and Volkswagen are jointly investing £100 million in a mixed-use development in Battersea, London, Construction Enquirer reported. Linden Homes will invest £90 million, and Lookers Volkswagen Battersea will contribute £10 million to develop the Podium scheme.

Construction on the project is expected to be completed in 2020, according to the report.

* The U.K.'s second largest motorway service station operator Welcome Break received a £440 million funding package to refinance its debt and fund investments in its hotel and retail portfolio, Property Week reported.

The funding was provided by a banking syndicate led by Lloyds Bank Commercial Banking.

* As a result of its purchase of 11,687,200 Dragon-Ukrainian Properties & Dev. shares, Dragon Capital Group Corp. is required to make a mandatory cash offer for the former's entire issued and to be issued share capital, pursuant to the takeovers and mergers rule of the City Code.

* RTE received bids in excess of €80 million during the first round of bidding for its 8.64 acres of land at the Donnybrook campus in Dublin, the Irish Independent reported. The company appointed Savills in March to market the site for a guide price of €75 million.

* Northern Irish real estate investor Wirefox expanded its presence in the U.K. with the purchase of a portfolio of nine assets near Glasgow city center in Scotland, The Irish Times reported. The nearly 400,000-square-foot Rockford portfolio is estimated to be worth £35 million and is let to several blue-chip companies.

France and the Netherlands

* Primonial REIM acquired the 22,600-square-meter Clever 1 office building in Paris' Gennevilliers suburb for €118.2 million, Property Investor Europe reported. The asset, which is a part of the 50,000-square-meter Clever office complex, was purchased from trading house Cargill's investment unit CarVal and Aquila Asset Management, the report noted.

* Eurocommercial Properties NV supervisory director Pieter Haasbroek died-->. Haasbroek had served as a member of the company's supervisory board since 2008. * Bouwfonds IM is planning to establish a €250 million property investment portfolio, which will invest in the convenience shopping sector in the Netherlands, PropertyEU reported. *

  • Author
  • Aimen Hakim
  • Theme
  • Real Estate