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Vonovia launches public offer for BUWOG; Invesco JV invests in London project

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Vonovia launches public offer for BUWOG; Invesco JV invests in London project

* Vonovia SE launched its approximately €5.2 billion voluntary public takeover offer for all outstanding shares and convertible bonds of BUWOG AG at the start of trading on the Vienna Stock Exchange Feb. 5. BUWOG shareholders can tender their shares until March 12 at 5 p.m. Vienna time.

Vonovia is offering to purchase for cash all of BUWOG's outstanding shares at €29.05 per share.

* Invesco Real Estate and Meyer Homes formed a joint venture to work on a 255-unit build-to-rent development scheme in West London, IPE Real Assets reported. The forward-funded Hounslow Place development, which is slated for completion in 2020, was acquired for a total gross investment of £107 million on behalf of Invesco's U.K. residential strategy.

UK

* Tritax Big Box REIT Plc signed an £81.8 million forward-funding agreement for a new regional distribution center inside the Midlands Logistics Park in Corby. The agreement is conditional upon securing full planning permission for the development. The purpose-built, 844,000-square-foot facility is pre-let to logistics business Eddie Stobart Ltd.

* LabTech Investments Ltd. picked up the 82,000-square-foot Bupa House office building on Bloomsbury Way in London for approximately £70 million, Property Week reported.

* Watford Community Housing signed a 32-year, £65 million funding agreement with M&G to fund the delivery of 675 homes across southwest Hertfordshire over the next three years, PW reported. The credit facility will also allow the housing association's plan to build 1,000 affordable homes by 2020, the report added.

* The Manchester Metropolitan University awarded Morgan Sindall a £46 million construction contract for the development of an Arts and Humanities building, Construction Enquirer reported.

* Aviva Investors wrapped up a £32.7 million agreement to fund the speculative development of three new prime industrial warehouses inside the Uxbridge Industrial Estate in West London, PW reported. The three units will respectively span 119,653 square feet, 36,017 square feet and 11,505 square feet of space.

* Barings Real Estate Advisers loaned £35 million to Atlas Residential and IP Investment Management for the purchase of a development site for the duo's proposed £55 million build-to-rent project in MediaCityUK in Salford, PW reported. The development comprises 238 residential units totaling 148,240 square feet.

* Chicago-based Atlas Residential is targeting to invest up to £3 billion into a portfolio of 10,000 private rented sector homes in the U.K.

Norway, Finland and Sweden

* Seasonally adjusted housing prices in Norway slipped by 0.4% in January from December 2017, also recording a 2.2% decline on a year-over-year basis, Reuters reported, citing Real Estate Norway.

* Private equity firm Niam paid €55 million to buy two new retail properties in the Helsinki metropolitan area from NCC Property Development Oy, Property Investor Europe reported. The deal involves the €18 million purchase of the 4,500-square-meter Suurpelto Retail Center and the €37 million acquisition of the Laajasalo Retail Center, according to the report.

* Nordic region-focused investment manager Genesta acquired the 67,000-square-meter Juvan Teollisuuskatu 25 logistics property in Espoo, Finland, from a J.P. Morgan Asset Management-managed fund, PIE reported. The property was purchased for the GNRE Fund II closed-ended vehicle for an undisclosed sum.

* Wihlborgs Fastigheter AB intends to appoint Ulrika Hallengren as its new CEO, effective May 1, replacing Anders Jarl, who will in turn take over the role of executive chairman from Erik Paulsson.

Austria

* Swiss Life Asset Managers bought two adjacent buildings inside the Marximum complex in Vienna for the new €700 million Swiss Life REF (DE) Key Metropolitan Areas Europe fund, PIE reported. The buildings, covering roughly 17,000 square meters of space, were purchased from German builder Hochtief, the report added.

Czech Republic

* M7 Real Estate Ltd. settled the disposal of the 14,550-square-meter Oregon House office building in Prague to BHS German Real Estate Fund. The building was sold on behalf of its M7 Central European Real Estate Fund I.

Middle East

* DAMAC Properties Dubai Co. PJSC is in the early stages of negotiations with banks for a possible issue of a U.S. dollar-denominated sukuk, or Islamic bonds, Reuters reported, citing a source with knowledge of the matter.

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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.

Celestyn Wong contributed to this report.