* British Land Co. Plc CEO Chris Grigg saidin a trading update that while it is "too early" to properlydetermine Brexit's effects on the company's operations, British Land enteredthe post-referendum market in "a robust position."
The British developer reported thatin the quarter leading up to the June 23 referendum, the respective retail and officelettings and renewals of the company were 14.8% and 3.8% ahead of the company'sestimated rental values.
The company also confirmed afirst-quarter dividend of 7.30 pence per share.
* Bayerische Versorgungskammer selectedCapMan Real Estate to invest up to €400 million in residential properties inthe Nordics. CapMan will be involved in the sourcing, negotiations for andmanagement of the assets for the fund.
* Chinese conglomerate Dalian WandaGroup Co. Ltd.'s U.K. subsidiary secured£500 million in financing for the One Nine Elms regeneration project in London.
The loan from Ping An allowed thecompany to enter into a pre-construction agreement with Balfour Beatty.
* Great Western Developments and Sellar Paddington have unveiledtheir revised plansfor the Paddington scheme in London. The £775 million project will feature a14-story office cube and 1.35 acres of public space. The Paddington Cubecomplex will also have 80,000 square feet of retail and restaurant spacesacross five levels; it will not have any residential component.
PropertyWeek, CoStarU.K. and London's FinancialTimes have noted that the new plan is a far cry from the developers'initial proposal to build a 72-story residential tower named Paddington Pole.
* Work on what would be the largest residential-led regeneration projectin the north of England is expected to start before the year ends. Construction Enquirer reportedthat the £1.3 billion Lincolnshire Lakes project will cover 5,100 acres anddeliver 7,739 new homes.
* Said to be prompted by concerns after the trading of its property fund due toBrexit, M&G Real Estate said that the £200 million Three Snowhill scheme will push through. Head ofbusiness space Chris Perkins was quotedby the Birmingham (U.K.) Post as saying that 16-story project "isfirmly on track." The 420,000-square-office scheme is scheduled to open in2018.
* Speaking of Brexit, Fitch said that Lendlease Corp. Ltd. will likely see "" longer-termeffects from the changes due to the Australian developer's planned expansion ofits international urban regeneration portfolio, among other reasons.
The rating agency added that Brexit is expected toreduce demand in the residential and commercial property markets as overseasinvestors look into its increased risks and banks become less willing to extendcredit.
* Fitzwilliam Finance Partnerssubmitted a proposal to the Dublin City Council for an approximately40,000-square-foot retail development at Henry Street, the Irish Independent reported.The plan would separate the 7 to 9 Henry St. buildings, which are part ofArnotts, Ireland's largest and only full-line department store.
* Goldman Sachs' ELQ Investors II wascleared by Ireland's competition regulator to purchase Arklow's Bridgewatershopping center and a nearby office block for about €33.3 million, The Irish Times reported.
* British Council of Shopping Centresdata shows that foot traffic in shopping centers across the U.K. went up 0.5%in June from the previous month. The number of visitors in retail parks was up1.4% in the comparable period, the LondonEvening Standard reported,citing the council's data.
* According to online property portalRightmove, the average asking price for houses that were placed on the marketfell 0.9% since June, but still within usual expectations for the summerseason.
The (U.K.) Telegraph also citedPropcision data that showed that in the week after the referendum, about 8% ofproperties under offer in London were canceled, compared with the 5% average.
* DEMIRE Deutsche MittelstandReal Estate AG moved the listing of its shares to the primestandard segment of the Frankfurt Stock Exchange, effective July 15, from thegeneral standard segment.
* Canada's Dream Global REITplans to raiseroughly C$85.1 million in a bought-deal offering to fund an acquisition of twooffice properties in Germany and redeem its 5.5% convertible debentures.
* Luxury hotel chain Ruby Hotels plans to convert office properties inMunich, Düsseldorf, Hamburg and Vienna into hotels as part of a plan to openfour hotels in Germany and Austria, PropertyInvestor Europe reported,citing local media.
* Grosvenor Europe and Malaysian company Amcorp Properties Bhd. agreed toa €70 million, 50/50 joint venture for investments in property developments andvalue-add projects in Madrid, CoStar U.K. reported.
* The Wall Street Journal reportson the Barcelona neighborhoods of Eixample and Diagonal Mar, which are seeingrenewed interest from overseas buyers.
FGH Bank sold a portfolio of commercialproperty-backed loans worth €650 million to an unnamed local institutionalinvestor, PIE reported,citing Dutch property news portal Vastgoedmarkt. Proceeds from the sale areexpected to be used for new real estate loans.
* Dubai Land Department Director-General Sultan Butti Bin Mejren told Arabian Business in an interviewthat the department is looking into growing the country's affordable housingsector through talks with the Department of Economic Department and DubaiMunicipality.
* Contracts worth US$272 million have been awarded to advance thedevelopment of Dubai South's residential district, Arabian Business reported.The district is envisioned have around 10,000 residential units by 2020.
Nowfeatured on S&P Global Market Intelligence
The Weekin European Real Estate: London skyscraper gets £320M financing; Deutsche Banknears €505M Spanish mall deal: The July 15 edition of the weeklynews roundup of the European real estate space also includes news about thepost-Brexit property market.
TheProperty Ledger: Hammerson pays £1B for Irish mall; PATRIZIA to invest in €300MEuropean fund: The July 15 edition of European property news recapalso reports on Workspace Group's withdrawal from its purchase ofAustralia-listed Goodman Group's office complex in London.
Best ofSNL: Real Estate, most read: The 10 most read real estate articlesfor the week ending July 15.
Best ofSNL: Real Estate, editors' picks: Our real estate editors' picksfor the best stories of the week ending July 15.
TheDaily Dose Europe, Real Estate edition, is updated as of 6:30 am London time.Some links require a subscription. Articles and links are correct as ofpublication time.