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InterContinental logs H1 results; French antitrust OKs Gecina's Eurosic takeover

* InterContinental Hotels Group Plc logged a pretax profit of US$326 million for the half-year period ended June 30, up 9.4% year over year from US$298 million. The group also proposed an interim dividend of 33 U.S. cents per share for the period, 10% higher than the per-share dividend of 30 cents paid out in the 2016 first half.

* Gecina secured the green light from the French antitrust authorities for its takeover of Eurosic.

Gecina expects to complete the acquisition of 85.3% of Eurosic's capital from its six main shareholders by the end of August. Thereafter, it will submit a public takeover offer in accordance with stock market regulations for all the Eurosic securities it does not own by then.

UK and Ireland

* AEW Capital Management LP and Thor Equities jointly signed a £180 million deal to acquire the 100 New Oxford St. property in London's West End from Tishman Speyer.

The 106,404-square-foot asset features six prime retail units and two restaurants across 18,507 square feet on the ground floor, along with 87,897 square feet of grade A office space over six upper floors.

* PATRIZIA Immobilien AG plans to work on an £85 million project in Birmingham, U.K., comprising 375 build-to-rent homes across four acres of land, subject to planning and local consents.

* Capital & Regional Plc is seeking a planning consent from Dacorum Borough Council for a £13 million redevelopment of 340,000-square-foot The Marlowes shopping center in Hemel Hempstead, U.K. Plans include the addition of a nine-screen cinema and six new dining units.

* ICG-Longbow raised £370 million in the final close of its third senior debt vehicle, ICG-Longbow Senior Debt Programme Vintage III. The close brings ICG-Longbow's assets under management in its senior debt strategies to £1.2 billion.

The fund targets defensive commercial real estate senior debt portfolio in the U.K., and offers protection against capital loss and secure fixed rate income returns.

* Home prices in the U.K. recorded their biggest monthly rise since 2016-end with a 0.4% rise in July after shrinking 0.9% in the previous month, taking the average price to £219,266, London's Financial Times reported, citing Halifax.

* O'Flynn Group filed a planning request to construct 515 houses and retail units, among other facilities, on a 31-hectare site at the east of Glanmire village in Cork, Ireland, the Irish Independent reported. The project has an estimated development value of €130 million and aims to ease housing stock shortage in the country, the report added.


* TLG IMMOBILIEN AG raised the rent of the Die Welle office building on Alexanderplatz in Berlin to €22.00 per square meter after an office tenant released 3,000 square meters of the roughly 5,000 square meters its was leasing at the building. The new rental agreement represents an increase of approximately 28% over the previous rental arrangements.

* Real I.S. paid an unknown sum to purchase a 3,700-square-meter office and retail building in Mannheim from E2 Vermögensverwaltung, Property Investor Europe reported. The fully-leased, six-story building offers 1,680 square meters of office space, 1,390 square meters of retail area and 580 square meters of medical accommodation.


* Barings Real Estate Advisers, marking its first investment in the European housing sector, acquired a €43 million Finnish portfolio on behalf of an undisclosed institutional investor, from local pension fund Varma, IPE Real Estate reported. The portfolio holds seven residential assets in Espoo, Tampere, Turku and Lahti, and offers 18,770 square meters of rental space across 301 apartments.


* Skanska poured €48 million in the development of the first phase of the Nowy Rynek mixed-use project in Poznan, PIE reported. The development, which is the company's third commercial scheme in the city, will deliver a six-story, 25,000-square-meter office building, retail space and a new public square upon its completion.


* Saudi Arabia's Prince Alwaleed bin Talal will reportedly invest roughly US$800 million in the Four Seasons resort in Sharm el-Sheikh, Egypt. The investment will also provide for the opening of two new hotels in Egypt, located in al-Alamein and the Cairo suburb of Madinaty.

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The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.

Anusha Iyer contributed to this report.