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Irish Residential settles €40M buy; Texton buys 4 logistics assets in Cape Town

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Irish Residential settles €40M buy; Texton buys 4 logistics assets in Cape Town

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

UK and Ireland

* Irish Residential Properties REIT PLC wrapped up the roughly €40 million purchase of 128 apartments and 128 parking spaces in Dublin. The deal is estimated to produce a gross yield of approximately 6.25%.

* London & Associated Properties PLC have established a joint venture with Bisichi Mining PLC and Metroprop Real Estate Ltd. to purchase the freehold of five shops in West Ealing, London, for £5.6 million in cash. The properties produce approximately £140,000 in yearly rent and have planning permission in place for the construction of 20 flats on first and second floors.

South Africa

* Texton Property Fund Ltd. completed the acquisition of a portfolio of four logistics properties in Cape Town for a sum of 205.3 million rand, at a proposed acquisition yield of 9.4%. The assets, which have a combined gross leasable area of 15,027 square meters, were bought from Equites Property Fund Ltd. and its subsidiaries.

The purchases will be financed using third-party funding, the company said in a release.

Additional coverage

China wraps up Royal Mint purchase, plans to convert site into new embassy

Google completes acquisition of mixed-use Dublin scheme

Peakside sells Berlin property to Patrizia for €100M

Barings Real Estate to buy Stockholm office asset for €100M

COIMA RES to buy Milan asset for €45M

Joyce Guevarra contributed to this report.

As of May 22, US$1 was equivalent to 12.56 rand.