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Deutsche Bank unit buys £600M UK student housing; Grit mulls London share sale

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Real Estate

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Deutsche Bank unit buys £600M UK student housing; Grit mulls London share sale

* Deutsche Bank unit DWS Group GmbH & Co. KGaA has acquired roughly £600 million worth of student housing in the U.K. from Vita Group. The portfolio, operated by Vita Student Ltd., comprises 3,198 beds across nine locations in Manchester, Glasgow, Edinburgh, Leeds, Birmingham and Newcastle.

Vita will remain the manager and operator of the properties. DWS bought the assets through its real estate funds.

* South Africa's Grit Real Estate Income Group is mulling a share sale in London, hoping to raise fresh funds and double its market value to over $800 million, Bloomberg News reported, citing CEO Bronwyn Corbett. The funds will be invested in properties such as industrial sites and hotel resorts exclusively in Africa, Corbett said.

She added that the company has $600 million worth of projects in the pipeline spanning across Kenya, Ghana, Uganda and Senegal. It is also cutting back investments in retail assets, which account for about a third of Grit's portfolio.


* Radisson Hotel Group Inc. will open a 430-room Radisson Blu hotel in The London Resort due to open in 2024. The 535-acre resort in Kent, the U.K., will have a theme park, water park, cinema, theater, restaurants, retail outlets, among other features.

* Dot Residential, a startup that buys U.K. properties in bulk at a discount from developers and resell them to investors as refurbished rental properties, is targeting Gulf investors seeking opportunities in the U.K. home market, Arabian Business reported. The company, founded in April, has launched an online buying service, as well as financing and property management services. Dot Residential has 20 properties in Manchester and Liverpool and is planning to expand in Leeds and Birmingham, as well as in the U.S.

Sweden, Germany and Poland

* Niam has secured €1.1 billion for its seventh opportunistic fund, which will focus on all property types in the Nordics, IPE Real Assets reported. The private equity firm's Niam Nordic VII has surpassed its fundraising target, after attracting a diverse group of investors including public and corporate pension funds, sovereign wealth funds, endowments, foundations, family offices, insurance companies, funds of funds and financial institutions.

* Petroleum company Shell and automotive parts company Heil & Sohn have jointly acquired a 10,200-square-meter commercial property in Hamburg, comprising a petrol station and an industrial building, for an undisclosed amount, Europe Real Estate reported.

* Corum Asset Management agreed to buy a roughly 12,000-square-meter office building in Skanska AB's Nowy Rynek office complex in Poznań, Poland for 36 million. The property is fully leased to a Polish convenience retailer, according to a release. Transfer of the property is scheduled for the fourth quarter.

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