* Spanish hotel operator Barceló Group is planning to make an offer for HNA Group Co. Ltd.'s €670 million stake in NH Hotel Group SA. Barceló had failed to merge with NH Hotel in January after the latter's board rejected the proposal.
In a letter to the Comisión Nacional del Mercado de Valores June 1, HNA confirmed that it has received a number of informal expressions of interest in the Spanish hotel company stake.
* Finland-based Kojamo Oyj set a preliminary price range of between €8.50 per share and €10 per share for its IPO, to raise gross proceeds of approximately €150 million. The real estate company is expected to have a market capitalization of between €2.10 billion and €2.45 billion based on the price range.
UK and Ireland
* Laxfield Capital loaned a £40 million refinancing facility for the 592-bed True Glasgow student accommodation development owned by Brick Capital and operated by True Students in Glasgow, Property Week reported.
* Latimer, a private development company owned by Clarion Housing Group, purchased a nine-acre site in Surrey, U.K., for a £25 million development of 54 new homes, PW reported. Latimer will begin work on the site in the summer, in a joint venture with Thakeham Homes, with completion slated for early 2020.
* HUB and Smedvig are seeking consent for the mixed-used redevelopment of The Landing site in Maidenhead town center, U.K., Construction Enquirer reported. Plans for the project encompass 519 homes across six buildings, 57,000 square feet of office space, as well as 37,000 square feet of retail, leisure and workspace.
* After receiving approval for its company voluntary arrangement proposal, Italian restaurant chain Carluccio's is expected to shutter up to 34 of its 103 restaurants across the U.K., PW reported.
* Investments from China into the central London property market has reached its lowest level in 2.5 years as investors are more cautioned about the U.K. real estate sector. Buyers from Hong Kong and China spent £432 million on commercial buildings in the capital during the first quarter, London's Financial Times reported, citing Cushman & Wakefield.
* Hospitality group Press Up has beaten several competitors to snap up the headquarters of New Ireland Assurance at Dawson Street in Dublin for €38 million, The Irish Times reported. The asset features two connected five- and six-story office blocks, with an opportunity for redevelopment, according to the report.
Press Up intends to add further office space to the property and transform the ground floor of the building into restaurant and retail space.
France
* AccorHotels is looking to buy a minority stake in Air France-KLM to pursue the development of a joint digital travel platform that will offer customers a variety of flexible services.
The Netherlands
* Aedifica SA named Ingrid Daerden as its new CFO, executive manager and as a member of the company’s management committee. The appointment will take effect at the latest Sept. 1.
* Cording Real Estate Group acquired a 3,300-square-meter, five-story office building in central Amsterdam for its Benelux Commercial Real Estate Fund. The building is leased to shared office space provider Mindspace, according to a release.
Spain
* JLL's The Investor blog featured a report on Spain's student housing sector pulling in property investors looking for attractive returns, as an increase in university students in the country is driving the development of purpose-built accommodations in the sector.
Switzerland
* Investis Holding SA bought 10.8% of the share capital of digital real estate service provider Flatfox AG for an undisclosed sum. Flatfox digitalizes the entire process of leasing an apartment for private individuals and professional property managers.
Poland and Lithuania
* NEPI Rockcastle PLC units carried out separate deals for a €189.5 million purchase of two shopping malls. The Aura Shopping Centre in Olsztyn, Poland, was bought from Rockspring NPS European Alfa BV and the Ozas Shopping and Entertainment Centre in Vilnius, Lithuania, was acquired from ARENA Zweite Verwaltungs GmbH.
Middle East
* MAG Lifestyle Development unveiled plans for two 20-story residential building projects worth a combined 300 million United Arab Emirates dirhams in the Jumeirah Village Circle area of Dubai, Arabian Business reported. MAG 614 will feature 223 residential units, while MAG 612 will offer 144 apartments, among other amenities.
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Anusha Iyer contributed to this report.
As of June 1, US$1 was equivalent to 3.67 United Arab Emirates dirhams.
