* Mark Dixon, CEO of shared-office group IWG PLC, has held discussions with investments banks to spin off the firm's U.S. business into a separately listed firm in New York, Sky News reported. According to Sky, a spun-off business in the U.S could be worth as much as £3 billion, with the potential development coming amid rival WeWork Cos. Inc.'s plans for a New York listing.
The sources said the U.S. listing plan was one of a number of options, while people close to IWG said that a New York listing was under consideration but no formal talks with bankers had been held.
London's Financial Times also reported on IWG's potential listing plans.
UK
* Legal & General Group PLC paid £211 million for the 377,730-square-foot Wellington Place office asset in Leeds, buying the property from Canada Pension Plan Investment Board and Hermes Investment Management Ltd., IPE Real Assets reported. The asset, which includes two buildings, a basement car parking and associated retail and leisure facilities, has been pre-let to the Secretary of State for Communities and Local Government on behalf of HMRC and NHS Digital. Legal & General, through its retirement arm, forward funded the asset.
* Colefax Group PLC inked a 15-year lease at an initial rent of around £16 per square foot at unit four of Capital Industrial's Wandsworth Trading Estate in London, Property Week reported. The 29,196-square-foot asset comprises a 19,151-square-foot warehouse as well as a two-story building of 10,045 square feet.
* According to PW, AEW UK REIT PLC is aiming to raise approximately £250 million of equity for its close-ended Urban Real Estate Fund, which is expected to acquire redundant retail property with potential to be converted into offices and residential spaces. The fund will target low double-digit returns.
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