trending Market Intelligence /marketintelligence/en/news-insights/trending/THHfDgjPkh24YSXnOKf3UQ2 content esgSubNav
In This List

Deutsche Bank nears record deal in Spain; British Land says fully let asset shows London's 'enduring appeal'


Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise


FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Deutsche Bank nears record deal in Spain; British Land says fully let asset shows London's 'enduring appeal'

* Deutsche Bank is closing in on a deal to buy a mall in Barcelona for€505 million, Property Investor Europe reported,citing local media. The deal with Northwood Investors might be the biggest inSpain in the past decade.

The mall in the center of the talks is the87,000-square-meter Diagonal Mar shopping center, which was built in the late 1990sby Hines. It exchanged hands a few times until the current seller bought themall in 2013 for €150 million from Ireland's NAMA.

* British Land Co. Plcand Oxford Properties have securedleasing deals with current tenants for the last three floors at The LeadenhallBuilding in London.

The company noted that two of the three deals weresigned after the EU Referendum. British Land head of offices and residentialTim Roberts said in a statement that the agreements coming shortly after Brexitshowcase "the enduring appeal of London."

* TH Real Estate appointed Eastdil Secured to help refinance seven coreproperties in the U.K. that are valued at around £1.09 billion and held underits Cityhold Office Partnership, CoStar U.K. reported.The assets span 1.35 million square feet.

The news outlet said that TH Real Estate wants aloan-to-value ratio of 50%, which would come to £542 million in debt.

* Catella Real Estate launched an open-end residential fund with a €1billion target. The pan-European fund has €200 million in equity and has agreedto buy 72 of 287 luxury flats in the Zlota 44 residential tower in centralWarsaw, PIE reported.

* According to Willis Towers Watson, 37% of the money allocated for alternativeassets worldwide in 2015 went to Europe. The London-based adviser notedthat total assets managed by 100 alternative investment managers globally wereup 3% to US$3.6 trillion.

UKand Ireland

* Picton Property IncomeLtd. saidit agreed to offload Boundary House at Jewry Street in London for £27.8 millionto an overseas investor.

* As Aberdeen Fund Managers Ltd. decided to extendthe suspension oftrading in its U.K. property fund, rumors surfaced that two properties in thefund will be up for sale. Property Week reportedthat the 355 Oxford St. and 10 Hammersmith Grove offices carry £145 million and£105 million price tags, respectively.

* Aviva Investors acquired a 770-bed student accommodation property inCoventry, U.K., for £74.5 million. PropertyWeek reportedthat the forward-purchase deal was inked with Regents Godiva.

* SEGRO Plcsecured DFS for a44,000-square-foot facility at its Greenford Park in Greenford, U.K.

* The U.K. Financial Conduct Authority is making changes to rulesgoverning property funds following redemption requests that led to market panicin the week of July 4. Andrew Bailey, the head of the FCA, said the regulatorwill look into the design of such funds "from the point of view of conductand systemic stability."

* Home Secretary Theresa May will step in as the U.K.'s next prime minister on July 13. TheWall Street Journal and London's FinancialTimes reported that property-related stocks gained after theannouncement.

Meanwhile, PropertyWeek saidthat British homebuilders Berkeley and Redrow are optimistic that May'sappointment can help clear the uncertainty clouding the post-Brexit propertymarket. Housing Minister Brandon Lewis also previously expressedhis support for May.

* Dublin's City Council approved the planned expansion of the HiltonDublin Hotel, the Irish Independent reported.The plan calls for a seven-story extension with 97 rooms, bringing the total inthe property to 305 rooms.

* Data from the Irish Wind Energy Association found that over €2 billionworth of data centers are expected to increase the overall energy demand ofIreland over the next five years by 18%, the Irish Independent reported.

* The Irish Independent reported,citing GeoDirectory research, that as at June-end, 13.1% of 28,615 commercialproperties in Ireland are vacant, compared to 12.6% in June 2015.


* Adler Real Estate AGsuccessfullyplaced 10 million 2016/2021 convertible notes after closing an accelerated bookbuilding process. The totalplacing volume following the pricing was €137.9 million.

* CA Immobilien Anlagen AGCEO Frank Nickel reportedly said that Brexit is expected to boost commercialproperty prices in Frankfurt, Bloomberg News reported, citing an interviewwith the executive.

* Blackstone Real Estate Partners Europe IV and Quantum Capital GmbH& Co. KG are revealedto be the buyers of aDO Deutsche Office AGoffice building in a Berlin submarket. The 90,000-square-meter asset was soldfor €230 million.

* KGAL boughta six-story office property in Hamburg for a real estate special AIF. Theproperty offers 25,790 square meters of leasable area and 308 parking spaces.

* Algonquin and the Primotel Europe fund bought a luxury hotel inDüsseldorf for over €100 million. The Hyatt Regency hotel is Germany's largestsingle-hotel deal year-to-date, accordingto PIE.


The country's first property-backed loan portfoliosale is expected to hit the market shortly, Reuters reported,citing Prelios, an adviser in the sale. The portfolio from Banca Popolare diBari is valued at €500 million.


Tristan Capital Partners' EPI Special Opportunities 4fund sold three shopping centers for roughly €100 million, EuropeReal Estate and PIEreported. The neighborhood malls were sold in separate transactions.


OTE Estate SA Real Estate Property is seeking buyersfor an 898.82-square-meter site with two buildings in Athens. The tender opensJuly 12 and will be closed Sept. 16, accordingto Europe Real Estate.

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.