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Persimmon logs H1 results; CK Asset offers £2.7B for Greene King

* U.K. homebuilder Persimmon PLC said its EPS for the first half came to £1.29, compared with £1.30 a year earlier.

* Hong Kong-listed property firm CK Asset Holdings Ltd., through its CK Noble (UK) Ltd. subsidiary, is offering to purchase all the share capital that it does not already own in British pub retailer Greene King PLC for an aggregate cash consideration of £2.7 billion. The deal, which is subject to various conditions, is expected to be completed in the fourth quarter. As of Aug. 16, CK Asset owns an indirect stake of about 2.9% in Greene King, which manages 1,687 pubs as of April 28 and operates 2,700 pubs, restaurants and hotels across the U.K., the developer said.

* Aviva PLC unit Aviva Investors provided Deutsche Bank AG subsidiary DWS a 10-year fixed-rate loan facility totaling £236 million to help finance its roughly £600 million acquisition of student housing assets in the U.K. from Vita Group. The assets are located across regional cities and total roughly 3,200 beds, according to a release.

* Carlyle Group LP and U.K.-based Safestore Holdings PLC formed a joint venture to acquire M3 Self Storage, an operator of six prime storage locations in Amsterdam and Haarlem in the Netherlands. The acquisition is expected to be completed by the end of August.

Safestore also acquired Salus Services Ltd. from Rockpool Investments LLP for £6.5 million. Salus owns an 86%-leased 34,000-square-foot freehold store near Heathrow Airport, west of London.

UK

* LondonMetric Property PLC agreed to acquire and fund a 232,000-square-foot pre-let distribution warehouse for £24.0 million, reflecting a yield on cost of 5.2%. The warehouse, which is adjacent to junction 36 of the M62 motorway in northern England, has been pre-let to specialty chemical firm Croda International PLC on a lease of 20 years at a rent of £1.3 million per annum, subject to conditions.

Construction is expected to be completed in mid-2020 on the 33-acre site, which also has planning consent for 140,000 square feet of additional development.

* Netflix Inc. has signed a one-year sublet for a 134,000-square-foot building called UX1 in Uxbridge, London, from film production real estate specialist MBS that had signed a 10-year lease from landlord Aviva Investors, the London Evening Standard reported. The move comes as the U.S.-based streaming giant aims to secure more production space ahead of the opening of its new home at Shepperton studios, the publication said.

* IM Properties PLC has submitted plans, comprising five units, for a new 3 million-square-foot campus for car manufacturer Jaguar Land Rover in North West Leicestershire, Property Week reported. IM Properties acquired the 238-acre Appleby Magna site in 2016, and local councilors are set to consider the application for development on Sept. 3.

If approved, the development is expected to commence in spring 2020, with the first unit scheduled for completion in May 2021. Jaguar Land Rover would begin transferring its operations to the new facility in early 2022 and aims to complete the move by early 2023.

* Uber Technologies Inc. appointed CBRE to help find it an office in London spanning around 70,000 square feet as it nears the end of its 15-month probationary license in the city, PW reported. The ride-hailing giant's existing London office at Aldgate Tower was granted a 15-month permit to keep operating in June 2018.

* Apeiron Capital Ltd. sold its 100-bed Poland House student housing asset in Stratford to a venture managed by Curlew Capital that is exclusive to clients of CBRE Global Investment Partners. The site also includes an adjoining vacant property suitable for redevelopment. The sale price for the transaction was not disclosed.

* The London borough of Enfield was awarded £156 million from the U.K. government's Housing Infrastructure Fund, PW reported. The funds, which will be put towards Enfield's £6 billion Meridian Water project, will help the council build 10,000 new homes as well as parks, cycle lanes, bridge connections and a new train platform.

Germany

* Gateway Real Estate AG sold a portfolio of 21 commercial and retail properties to a special fund of German pension funds. The purchase price for the portfolio amounts to €242 million.

Other real estate news

* U.S.-based Ares Management Corp.'s European real estate fund Ares EF V raised €1.78 billion, Bloomberg News reported. The fund, which will be managed by Ares Real Estate Group, is aimed at distressed and poorly managed assets. Roughly 40% of the fund has already been committed to nine investments — including a residential portfolio in Madrid and a mixed office-retail building in London, the news outlet noted.

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