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Arlington JV pays £280M for UK assets; Cromwell European in €113M Finnish buy

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Arlington JV pays £280M for UK assets; Cromwell European in €113M Finnish buy

* On behalf of Arlington Investors Ltd., Arlington Advisors and Equitix purchased two separate purpose-built student accommodation portfolios in the U.K. for a total of £280 million.

The deal involves 2,458 beds across five properties, of which four are part of the Stellar Portfolio acquired from Fusion Students Ltd., and one is the 601-bed Merlin Heights building in Leicester.

* Singapore-based Cromwell European REIT purchased a portfolio comprising 11 freehold office properties in Finland for €113.1 million. The portfolio encompasses 61,972 square meters of space, with the properties mainly in the Helsinki metropolitan area.

UK

* The Southwark Council acquired the seven-building Courage Yard complex at Shad Thames in London from asset manager Columbia Threadneedle. The seller first placed the mixed-use asset on the market in September 2018 for £89 million, marking a yield of 5%. The campus features 67,900 square feet of office space, 17,900 square feet of retail area and 160 apartments.

* Irish hospitality specialist Dalata Hotel Group PLC wrapped up its purchase of the entire issued share capital of Hintergard Ltd., a company that holds the 300-year leasehold interest of a London hotel. The 212-room property will be launched as the Clayton Hotel City of London around January-end, according to a release.

* Investment manager Merriman secured consent from the Cornwall Council to develop 143 homes and replacement sports facilities at the Wadebridge Town Football Club in Wadebridge, Property Week reported. Proposals for the project could be sent to the government for a final vote if Sport England objects to the plan, the report added.

France

* Icade finalized the sale of its headquarters building in Paris' Issy-les-Moulineaux suburb to an unnamed French institutional investor for €98.8 million, excluding duties. Icade will continue to solely lease the 9,200-square-meter Open office building under a new lease signed at the time of the disposal.

Spain

* Aedas Homes SAU obtained 98% of the development permits required to construct 1,986 homes as part of its 2020 deliveries goal. The Spanish homebuilder is also planning to build additional homes in 2020, totaling up to 2,219 units. After reaching its run rate phase in 2022, the company will construct 3,000 homes per year.

Germany

* Demire Deutsche Mittelstand Real Estate AG terminated executive board member Ralf Kind, effective Jan. 3. Chairman Ingo Hartlief will take Kind's membership responsibilities for the time being until a replacement member is found.

Kind had previously served as Demire's CEO and CFO.

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