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Grainger signs £27M forward funding deal; Dream Global pays €11M for Dutch asset


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Grainger signs £27M forward funding deal; Dream Global pays €11M for Dutch asset

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


* Grainger PLC's GRIP REIT joint venture signed a roughly £27 million unconditional agreement to forward fund and acquire a private rented sector development of 132 build-to-rent homes in Southampton from National Regional Property Group. The deal is estimated to generate a gross yield of more than 6.5% and the project is slated for completion in late 2020.

* Equites Property Fund Ltd. acquired a 7.33-acre vacant land in Peterborough from Roxhill (Peterborough) Ltd. for roughly £2.6 million, through its wholly owned subsidiary Equites International Ltd.

Additionally, the unit entered a £10.5 million forward funding agreement with the seller for the development of a 12,609-square-meter distribution warehouse, which will be leased to Coloplast Ltd.

Germany and the Netherlands

* Following the quarter ended March 31, Canada's Dream Global REIT purchased the Noordkaap prime office property in Eindhoven, the Netherlands, for roughly €11 million. The property is 84% occupied and leased to tenants such as Randstad and DHL.

The real estate investment trust is in talks for the purchase of three properties in Germany and the Netherlands for a sum of over €50 million, according to a filing.

During the quarter, Dream Global divested two German assets and two Dutch properties for a total of C$14.2 million.

Subsequent to the first quarter, the company sold four properties for roughly C$15.0 million and committed nine other properties for sale for a combined price of C$30.8 million.


* BR Properties SA agreed to a 64 million-Brazilian-real deal to buy land in the Jundiaí region of the São Paulo state. The land will be used for a logistics development, with gross area of 492,176 square meters and around 133,500 square meters of leasable space.

Additional coverage

HFF confirms Blackstone's £248M City of London office sale

Globalworth to acquire Polish office complex in €139M deal

Stockmann to sell Helsinki property for €109M

Derwent London reports £48.5M London office sale in Q1 update

Shaftesbury to buy freehold of 2 London buildings for £22.7M

Joyce Guevarra contributed to this report.

As of May 10, US$1 was equivalent to 3.55 Brazilian reais.