This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.
UK
* SEGRO Plc signed a 20-year lease agreement with Japanese food and retail supplier The Japan Centre for a 56,711-square-foot unit at its Premier Park logistics complex in Park Royal, London. The facility will be ready for occupancy by summer and will serve as the UK headquarters of the supplier.
* Custodian REIT Plc bought a 0.4-acre land in Maypole, Birmingham, for £1.0 million. The land will be used for a roughly £1.8 million pre-let development project featuring a 1,800-square-foot, drive-through coffee shop and 16 parking spots. The asset is expected to generate £120,000 per annum, representing a net initial yield of 6.43%.
* Equites Property Fund Ltd.'s Equites International Ltd. unit acquired 13.26 acres of vacant land in Peterborough from DSV Peterborough Real Estate Ltd. for £4.6 million and signed a forward-funding agreement for the development of a 27,871-square-meter distribution warehouse. The facility will be leased to DSV Solutions Ltd. and the project is estimated to cost £25.3 million.
Sweden and Finland
* Castellum AB has begun construction of a warehouse and logistics building in Brunna, Sweden, that is estimated to require a total investment of 140 million Swedish kronor. The building will contain 8,800 square meters of logistics space and is expected to be completed in the first quarter of 2019.
* Pioneer Property Group ASA's Pioneer Public Properties Finland Oy subsidiary agreed to purchase nine properties in Finland for a sum of €25.7 million from Cor Group Oy and Cordis Oy. The leased assets, comprising eight preschools and an elderly care facility, generate a total annual rental income of €1.6 million.
* Kungsleden AB has renewed a lease agreement with an existing tenant at its 14,500-square-meter Taktpinnen 1 office property in Norrköping, Sweden. A new 10-year lease agreement was signed with SMHI, representing a total rental value of roughly 200 million kronor.
Germany
* Sirius Real Estate Ltd. completed the €15.1 million purchase of a business park in the German town of Schenefeld, at an EPRA net initial yield of 7.8%. The asset produces €1.5 million annual rental income and is 71% occupied, according to a release.
Additional coverage
Bouwfonds sells €4B of real estate, infrastructure assets
Report: CBRE Global, Sonae Sierra market 3 Spanish retail assets for €500M
Eurocommercial closes €468M Brussels shopping center buy
Whitbread to acquire portfolio of 19 German hotels
Helical to sell £150M portfolio to Blackstone, M7 funds
Joyce Guevarra contributed to this report.
As of March 6, US$1 was equivalent to about 8.22 Swedish kronor.
