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Wihlborgs sells 4 Swedish assets; Sirius sheds German business park for €4M

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Wihlborgs sells 4 Swedish assets; Sirius sheds German business park for €4M

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

UK

* Custodian REIT PLC purchased a 77,242-square-foot health and fitness center in Lincoln for £4.3 million, at a net initial yield of 7.64%. The asset is leased to Total Fitness Health Clubs Ltd. until June 22, 2040, at a yearly passing rent of £350,000.

* GCP Student Living PLC is in advanced negotiations to purchase and finance the construction of Scape Brighton student housing asset via its investment manager, Gravis Capital Management Ltd. Scape Brighton will offer roughly 550 beds, communal areas and about 1,500 square feet of retail space in Brighton.

Sweden

* Wihlborgs Fastigheter AB sold four industrial properties in Malmö to Corem for a total underlying value of approximately 144 million kronor. The fully leased assets encompass roughly 20,000 square meters of lettable area.

* Kungsleden AB marked its exit from Katrineholm after agreeing to sell the Lövkojan 10 property for 55 million kronor, after tax, as part of its portfolio optimization strategy. The asset encompasses 8,500 square meters of retail, office and warehouse space.

Germany

* Sirius Real Estate Ltd. entered a deal to divest its Bremen Hag business park for €3.8 million. The noncore sale is expected to be completed by October, according to a release.

Additional coverage

Blackrock sells London commercial building for almost £20M above asking price

Report: Samsung Life Insurance selling Commerzbank's London HQ for £425M

DTZ Investors pays £130M for retail asset at London's Clapham Junction

Patrizia's Rockspring makes £54M UK acquisitions

Helical to sell remaining 3 noncore UK assets for £28.5M

Joyce Guevarra contributed to this report.

As of June 5, US$1 was equivalent to 8.78 kronor.