This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.
Leopoldspark rest home, Leopoldsburg, Belgium
Source: Aedifica SA
March 29 that it completedthe €270.8 million sale of the 2-8 rue Ancelle office building in theNeuilly-sur-Seine area near Paris. A joint venture between ACM Vie SA and fundsmanaged by Amundi Immobilier bought the asset. The 2-8 Ancelle property has17,200 square meters of space let to CMS Bureau Francis Lefebvre for a 12-yearfirm period.
* The Metro Shopping Fund, ajoint venture between LandSecurities Group Plc and Delancey is selling the Southside shoppingcenter in Wandsworth, London, for £300 million, Property Week reported.The fund has appointed Lunson Mitchenall to divest the center.
* March 30 that it is inadvanced negotiations with an unnamed vendor for the estimated £120 millionpurchase of the Broadway shopping center and Broadway Square in Bexleyheathtown center, Bexley.
Thecompany advised that the transaction price is subject to negotiations and thedeal may or may not take place. The target assets span 525,000 square feetof space at an 11acre site.
* said March 29 thatit acquired the freehold of Bywater Properties' 83-bed student accommodationproperty in Reading for £13.0 million, excluding costs. The Saxon Courtproperty is a newly built student accommodation with communal facilities,plus a basement car park.
* Separately,Empiric said March31 that it acquired the land and entered into a forward funded development dealfor a 115-bed student accommodation project in York for £11.1 million. The dealmarked the company's first investment property in York.
The Lawrence Street propertycomprises the redevelopment of two existing listed buildings,which consist ofa mix of studios and flats with one-, two-, three- and five-bedroomunits with communal facilities.
* In a March 29,news release, Empiric Student Property said that it bought the 145-year leasehold of AccrueCapital's 117-bed student accommodation property in Manchester for around £10.3million, excluding costs. The three-floor Ladybarn House has a mix of studios,1-bed apartments and 4-bed en-suite apartments with communal facilities. Thereare four fully let retail units at the ground floor.
* March 31 that it completed the saleof eight Swedish hotels for 850 million Swedish kronor after deduction ofdeferred tax. An unnamed buyer bought the assets totaling 965 rooms.
* March 31 that it plans tosell the Tigern 7, Lejoninnan 10 and Björnen 6 properties in Huskvarna, Hålan6:2 in Jönköping, and the Mjälaryd 3:300 asset in Tenhult for a combined priceof 320 million kronor. Hökerum Fastigheter AB agreed to buy the properties,with a total lettable area of approximately 31,000 square meters including30,000 square meters of residential space.
Development plan of Summit Place in Menlyn, Pretoria, South Africa
Source: Emira Property Fund
AedificaSA saidMarch 29 that it acquired a newly constructed rest home in Leopoldsburg foraround €21 million, providing an initial triple net rental yield ofapproximately 5.5%. Vulpia Group serves as the operator of the property, whichcomprises 128 units and 22 assisted-living apartments.
Aedifica acquired the property by purchasing the entireshares of the Leopoldspark rest home's owner, RL Invest SA. Aedifica subsidiaryAedifica Invest SA was also involved in the transaction.
Plaza CentersNV saidMarch 31 that it completed the sale of its subsidiary owning the Liberec Plaza,for €9.5 million. The Liberec Plaza is a shopping and entertainment center.Plaza Centers will use the proceeds from the transaction to pay its unit PCE,related to a bank loan worth €8.5 million for the property purchase. Thecompany plans to distribute 75% of the remaining proceeds to bond holders byJune 30.
Emira PropertyFund Ltd. said March 29 that it expanded its portfolio with a 50%stake in five buildings in Summit Place in Pretoria, South Africa, worth 403million South African rand. The company finalized the transaction in 2015 forthe mixed-use development at an average yield of 8.14%.
The overall development comprises a total of 10 primecommercial buildings. Current tenants include Grant Thornton, BDO, Summit Sky Grill& Bar, Land Rover, Assupol and Sizwe Ntsaluba Gobodo.
The Menlyn commercial component of the development spansaround 353,490 square meters of commercial space. Aside from an expansion ofthe Menlyn Park Shopping Centre to 170,000 square meters, the area has hospitalfacilities, a large motor trade environment, various value centers, schools andcommercial buildings.
: The Greek privatization fund is closeto signing a deal with a consortium led by LAMDA Development to lease theformer Hellenikon airport site in Athens, Reuters reported.
: Both acquisitions were made on behalf of institutionalclients.
: CBRE Group entered into an agreement to acquire itsNorwegian affiliate, Atrium AS, in a move to strengthen its presence in theNordics.
: The U.S.-based company acquired twoItalian assets, and plans to expand its logistics park near Prague.
: British Land and shared workspace company CentralWorking plan to deliver the second co-working club in May.
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