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CapitaLand JV buys asset for €234M; AccorHotels close to partial sale of spinoff

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CapitaLand JV buys asset for €234M; AccorHotels close to partial sale of spinoff

* CapitaLand Ltd., in a joint venture with Lum Chang Holdings Ltd., bought the Main Airport Center asset in Frankfurt, making its first purchase of an office building in Germany.

A joint venture between CapitaLand's CLI Commercial (Europe) Pte. Ltd. subsidiary and Lum Chang's Sky Real Estate Investment Pte. Ltd. bought the issued and outstanding share capital of the property owners, MAC Property Co. GmbH and MAC Car Park Co. GmbH, for €234.3 million.

* AccorHotels received various detailed confirmations of interest from French and foreign investors regarding the partial sale of AccorInvest's share capital and is on the verge of a final agreement. The company confirmed in October that it was negotiating with potential investors for the sale of a stake in the property business spinoff.

UK

* Tritax Big Box REIT Plc paid roughly £44.3 million for the acquisition of a Unilever UK Ltd.-let distribution facility on Hickling Road in Cannock, Staffordshire. The 541,157-square-foot asset was purchased with a new 10-year lease and is subject, in five years, to an upward only rent review linked to the retail price index.

* The U.K. government is introducing new measures to clamp down on rogue landlords, including a fine of up to £30,000 for leasing unsafe or substandard accommodation, London's Financial Times reported.

Other proposed measures include banning people with certain criminal convictions from renting out properties and only allowing landlords with a license to rent out homes to five or more people, according to the report.

Germany

* The supervisory board of Adler Real Estate AG on Dec. 27 revoked the appointment of CEO Arndt Krienen to the company's management board. Krienen will be relieved of his CEO and management board membership duties until further notice.

Spain

* Hispania Activos Inmobiliarios is buying Barceló Group's 24% interest in Bay Hotels & Leisure SOCIMI for a sum of €172.4 million. The company has bought the 206-key Hotel Barceló Guadalmina in Guadalmina Alta from Barceló for €19 million.

Poland

* Real estate developer Skanska divested the first two buildings inside the High5ive office complex in Krakow to Niam AB for €75 million, Reuters reported. The assets are scheduled to change hands in the second quarter of 2018, the report added.

Switzerland

* IWG Plc's shares increased by almost 28% to 256 pence after confirming reports that it received an indicative proposal from funds managed by affiliates of Brookfield Asset Management Inc. and private equity group Onex Corp., The (U.K.) Times reported.

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.