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€2.5B Spanish leisure complex gets foreign backers; IVG spinoff targets €800M in German IPO

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€2.5B Spanish leisure complex gets foreign backers; IVG spinoff targets €800M in German IPO

* HongKong-listed Melco, U.S. group Hard Rock and local conglomerate GrupPeralada are believed to be backing the €2.5 billion BCN World leisure centerin Tarragona, Spain, Property Investor Europereported,citing Spanish media.

The three international groups are in talks with the Catalangovernment to announce their investment commitment to the development in whichthey have agreed to a deposit of €2.5 million each, the report said.  

* 's officespinoff in Germany is targeting to raise €750 million to €800 million in itsplanned IPO, Reuters reported, citing unnamed sources.

The per-share price range for OfficeFirst's IPO is set at€21 to €23, according to the report.

* Henderson Parklaunched a new European real estate investment platform that secured overUS$500 million in commitments from institutional investors, PIE reported.

The fund, backed by Stone Point Capital, Kuwait InvestmentAuthority and Wafra Investment Advisory Group, will invest in major real estatemarkets across the continent directly and indirectly through acquiring loans.

UK

* Singaporeanwealth fund GIC saidthat it and GSA bought a portfolio of student accommodations in the U.K. fromfunds managed by Oaktree Capital Management LP. GIC did notdisclose the price for the 7,150-bed portfolio, but IPE Real Estate said that the transaction came with a £700 millionprice tag.

* The SpelthorneBorough Council snapped up a business and technology campus in Surrey in whatis called the biggest commercial property transaction by a local authority inthe country so far, Property Week reported.The seller, BP, disposed of the 33-acre, 800,000-square-foot site to thecouncil for £300 million.

It is also understood to be the largest single investmentdeal in the U.K. since Brexit, according to the report.

* agreedto forward purchase a private build-to-rent housing scheme in Leeds for around£40 million. The development, bought from YP Real Estate, will feature 242 newhomes across 18 floors when it opens in 2019.  

* and RiojaDevelopments have received planning permission for the largest designer outletvillage in the West Midlands, ConstructionEnquirer reported.The construction on the first phase of the £110 million, 280,000-square-footMill Green Village will begin in autumn 2017.

* ColliersInternational is marketing the sale of four office buildings in London's Cityfringe for a total of around £105 million, accordingto PW.

* MiddleEastern-backed MBU Capital is seeking approval for its plan to construct a £50million residential scheme in Hertfordshire, PW reported.The two-building project in the Stevenage town center will deliver 202apartment units and retail space.

* London MayorSadiq Khan is launching an investigation into how foreign property investmentin the capital city is affecting the housing market, The (U.K.) Guardian reported.

* CentralLondon's prime office properties may lose up to 30% of their value by 2017-endbefore rebounding, Bloomberg News reported,citing a Deutsche Bank AG report.

Germany

* Propertyinvestment manager Corestate Capital will list on the Frankfurt bourse Oct. 4 afterrenewing its plansfor a German IPO, PIE reported.The company, which halted its IPO plans in November 2015 due to difficultmarket conditions, will list 12.6 million shares, according to the report.

* A subsidiary ofUBM Development AG,Münchner Grund, heldthe topping-out ceremony for an eight-story, 185-room Holiday Inn Express hotelin Berlin Mitte. The project is slated for completion in spring 2017.

* TRIUVAKapitalverwaltungsgesellschaft mbH acquiredHamburg Two Towers in Hamburg from an Orion Capital Managers fund for anundisclosed amount. The 19-story office complex provides 20,000 square metersand is under renovation. It will be the future headquarters of Commerzbank inHamburg.

France and Luxembourg

* In apartnership with ANFImmobilier, Foncièredes Régions acquired a 43,000-square-meter mixed-used project inBordeaux, France.

The project has office and retail components, two hotelswith 237 rooms and a 125-unit student residence.

* Tristan CapitalPartners closed its fourth transaction in France in 12 months following a €110million purchase of a logistics portfolio, PropertyInvestor Europe reported.The portfolio comprising six logistics centers and a development site wasacquired from PrologisInc. in a deal reflecting a 7.5% net initial yield.

* Caerus DebtInvestments is launchinga Luxembourg-based real estate senior-/whole-loan fund in a bid to expand itsproperty loan strategy. The property fund has a target investment volume of€300 million and a target annual interest rate of up to 4%.

Hungary

* German companyCorpus Sireo acquired the Park Atrium office building in Budapest for anundisclosed sum. Accordingto Europe Real Estate, theeight-story commercial building bought from GLL Real Estate was sold for over€50 million.

Denmark

* Totalinvestment volume in Denmark's commercial property sector is predicted to reacharound 60 billion Danish kroner for full year 2016, nearly as high as thenumber recorded in 2006, PIE reported,citing Sadolin & Albæk.

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