* Impact Healthcare REIT Plc is offering 160 million new ordinary shares, priced at 100 pence apiece in an IPO in London. It expects to net £157 million from the offering, including the minimum £10 million that it expects to gain from the subscription of shares by Mahesh Patel and associates, who are the sellers of the REIT's seed portfolio.
The initial portfolio of the REIT comprises 54 homes with 2,362 beds across the U.K., all managed by Minster Group and Croftwood Group. The properties, along with a 196-bed portfolio the company has an option to buy, were valued by Cushman & Wakefield at roughly £152.8 million, as at Dec. 31, 2016.
* Land Securities Group Plc launched tender offers to purchase four series of its bonds for cash, with the offers ending Jan. 31. The tender offers are specifically for the company's £255.3 million in 5.425% notes due March 31, 2020; £185.9 million in 5.391% notes due Feb. 27, 2024; £583.0 million in 5.391% bonds due March 31, 2025; and £298.0 million in 4.875% bonds due Sept. 29, 2023.
The company added that it intends to issue two series of new sterling-denominated, fixed-rate notes.
UK
* Trafford Housing Trust in Greater Manchester received £275 million in a funding deal to help deliver 2,000 homes over the next four years, Property Week reported. The funding is expected to provide the trust with a simplified funding structure and more flexibility for its 50/50 joint venture with L&Q.
The new fund will replace the company's previous £145 million facility, according to the report.
* U.S.-based Westmont Hospitality Group is on the verge of buying Blackstone's Doubletree by Hilton hotel in Westminster for around £190 million, PW reported. Blackstone's Mint portfolio, once comprising nine hotels, will be down to just one hotel, following the current sale and the recent sale of DoubleTree by Hilton in Tower Hill to the Bhatia family for more than £300 million.
* The Museum of London secured a £180 million investment from the City of London Corp. and the Mayor of London to redevelop a new location in West Smithfield, London's Financial Times reported. The museum is aiming to raise £250 million for the redevelopment of the site, where it plans to relocate.
* Developer Benson Elliot and development manager Londonewcastle received planning approval from the Barking town council to rebuild the Vicarage Field Shopping Centre site in east London, Construction Enquirer reported. The developers plan to clear the shopping mall site for a mixed-use scheme, containing about 900 homes, a primary school, a 150-room hotel and other facilities.
* Shearer Property Group was appointed to undertake the City Centre South retail and leisure regeneration in Coventry, with a total development value of approximately £150 million, PW reported. The redevelopment will deliver up to 50 new retail units, a major department store, residential units, student accommodation and a hotel, among other amenities.
The regeneration will make Coventry the second-biggest shopping destination in the West Midlands, following its planned completion in 2022.
* GCP Student Living Plc is in talks to acquire a private student residential accommodation property in central London. If the purchase goes through, the asset will be refurbished to offer up to 500 studios and beds ahead of the 2018-to-2019 academic year.
Additionally, the company is planning to offer new ordinary shares in February to raise more than £60 million to fund potential acquisitions. The price of the issue will be based on the company's prevailing net asset value per share and the share price.
* The U.K. real estate industry outlined the key elements needed to protect the property sector, following the Supreme Court's ruling that the government cannot start the Brexit process without parliamentary approval, IPE Real Estate reported. The Property Industry Alliance and British Property Federation are behind the lobbying efforts.
BPF, along with property company Grosvenor, also published the results of a survey which revealed that confidence in the U.K. economy has declined significantly.
France
Fitch Ratings said that AccorHotels' plans to restructure and sell a majority stake in its HotelInvest portfolio indicate a growing shift to asset-light business models among European hotel operators.
The company expects to close the restructuring of its €6.6 billion portfolio by early summer, and has entered into discussions with unnamed potential investors for the possible sale of a majority of the portfolio.
Sweden
Diös Fastigheter AB said shareholders subscribed to 59,601,660 shares under its rights offer, corresponding to approximately 99.7% of the shares issued. The company also received subscription applications for 21,487,122 shares without subscription rights, representing approximately 35.9% of the shares offered.
From this issuance, Diös will raise approximately 1.85 billion Swedish kronor, excluding transaction costs. The shares will begin trading on the Nasdaq Stockholm on Feb. 3, according to a company release.
Middle East
* Developer Omniyat is planning to build a 343-unit, twin-tower residential project near the new Dubai Canal, containing up to three-room homes ranging from 1,000 square feet to 2,600 square feet, Arabian Business reported, citing a company release.
* Kerzner International will begin the sale of residential units in the $1.4 billion The Royal Atlantis Resort and Residences scheme on Palm Jumeirah in Dubai, Arabian Business reported. The project, launched in September 2014, will include 231 residences and 795 rooms upon its scheduled completion in the third quarter of 2019. The residential units are valued at price tags of US$2 million and above, the report noted.
Other Real Estate news
Finally, hotels in Europe recorded improved year-over-year performance in 2016, with Spain and Poland standing out as alternative destinations, according to data from STR.
When reported in euro constant currency, occupancy in Europe in 2016 rose by 0.6% to 70.4%, while the average daily rate increased 1.5% to €111.77 and revenue per available room was up 2.1% at €78.64. Security concerns deterred tourists in markets like France and Belgium, however Spain and Poland benefited as alternative destinations, according to the analysts.
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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.