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Gecina wraps up €1.35B sale of health care property portfolio

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Gecina wraps up €1.35B sale of health care property portfolio

This feature rounds up recentproperty news from S&P Global Market Intelligence's covered companies andhighlights larger deal coverage already published.

FRANCE

that it completed the sale of itshealth care property portfolio to Primonial REIM, a deal in February that carries a€1.35 billion price tag, including transfer taxes, at a net yield of 5.9%.

UK AND IRELAND

* Three Dublin shopping centerswill be sold to European Retail Fund and PATRIZIA Immobilien AG in separate transactions totaling€72 million, The Irish Times reported.The fund is buying the Lucan Shopping Centre, while PATRIZIA will reportedlyget the two other malls, namely two SuperValu stores at Ranelagh Road inRanelagh and Highfield Road in Rathgar for €25 million.

* sold the A3 spaceat 47 Castle St. inLiverpool under a 125-year leasehold for £600,000, according to a .Rocket and Ruby Properties LLP are the buyers.

GERMANY

AedificaSA saidit agreed to acquire two companies in Luxembourg that own a total of five resthomes in Germany for about €60 million.

The properties are Am Kloster at the outskirts of the citycenter of Halberstadt, Rosenpark in Uehlfeld, Patricia in Nuremberg, St. Annaon the outskirts of Höchstadt and Frohnau in Berlin.

NETHERLANDS

said its Europeanreal estate investment fund bought five car dealerships across the Netherlandsfor €27.4 million. Gramercy Property Europe plc acquired the 244,200-square-footportfolio through a sale and leaseback deal. The properties range between18,100 square feet and 106,200 square feet.

SPAIN

RockspringProperty Investment Managers LLP and Goodman Group are teaming up to develop a grade A,28,760-square-meter logistics facility in Sant Esteve Sesrovires, nearBarcelona, according to a release.

POLAND

that it acquired theNeptun Office Center building in Gdansk and Sterlinga Business Center in Lodz.The two grade A office buildings offer a total of 30,000 square meters of grossleasable area, as well as 364 parking spaces.

RUSSIA

SpondaPlc agreed to divest the 9,000-square-meter Solnechniy shoppingcenter in Moscow for US$11 million to LLC IT Development, according to anews release.

The sale is part of the company's strategy to exit thecountry.

ADDITIONAL COVERAGE

: Hammerson and partner Allianz Real Estate inked a 50/50 deal totake ownership and management of the 140,000-square-meter Dundrum Town Centremall in Dublin for an undisclosed sum.

: AccorHotels will hold a 30% stake in thenew venture, with the remainder to be owned by Eurazeo.

: The stake was sold to Gramercy Property Europe plc,a real estate investment fund focused on Europe and sponsored and managed by aGramercy Property subsidiary.

: The building on Avenues des Champs-Élysées is being sold bya venture comprising Thor Equities and Meyer Bergman, Bloomberg News reported.

: The company said it bought the asset in theGårda district of Gothenburg at an expected net initial yield of 5.0% and astabilized yield of 6.0%.

: The grade A development comprises 173,130 squarefeet of modern industrial space across three separate units.

: The company has laid the foundation stone for thethird phase of 130 residential units at its Unter Den Linden Hamburg urban areaproject in Hamburg.

: Equinix also agreed to purchase Digital Realty'soperating business in St. Denis, Paris.

: A consortium involving ChinaInvestment Corp. agreed to buy a French real estate management servicesbusiness, Property Investor Europereported.

: The company said that since the Brexit vote in June,it has signed 11 long-term retail leases and £2.1 million of rent on termsagreed to prior to the referendum.