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Lone Star weighs £3B sale of Quintain; Testa Residencial buying €228M apartments

* Lone Star Funds has mandated Eastdil and Credit Suisse as it mulls a more than £3 billion sale of London property developer Quintain Ltd., London's Financial Times reported.

The potential sale comes on the back of Lone Star's plans to trim its exposure to the U.K. real estate market ahead of Brexit, the newspaper added, citing people familiar with the matter.

Lone Star could also consider a partial sale of Quintain.

* Testa Residencial SOCIMI SA agreed to pay about €228 million to acquire a 1,458-apartment portfolio in Spain from Caixabank's real estate subsidiary BuildingCenter SA. About 66% of the portfolio is in Madrid, Palma de Mallorca, Barcelona and Valencia, while the rest is in the country's other metropolitan areas.

UK and Ireland

* Battersea Power Station Development Co. announced plans for a £9 billion retail and leisure segment at the Battersea Power Station redevelopment, which is set to reopen in 2020, Property Week reported.

The scheme will feature 100 shops and more than 40 restaurants across three floors totaling 700,000 square feet of retail space and a 225,000-square-foot food and beverage space.

* Helical PLC signed a development agreement with Transport for London for the Over Station Development at the Farringdon East Crossrail Station, slated to deliver an office-led scheme worth upwards of £120 million. The site has planning approval for a 90,000-square-foot, six-story office building. Construction is expected to commence after the development is handed over in April.

* Triple Point Social Housing REIT PLC is looking to raise gross proceeds of £47.5 million from the issuance a total of 47,500,000 convertible, non-voting preference C shares at 100 pence apiece under its previously announced offering via placing, open offer and offer for subscription.

* London & Associated Properties Plc closed the roughly £37.3 million sale of Brixton Markets in Brixton, U.K., to Market Villages, PW reported.

* The Crown Estate is seeking to establish its own serviced office brand in the autumn and will allot 25,000 square feet within its central London office portfolio, PW reported.

* Dalata Hotel Group Plc is targeting to open two hotels in Dublin and one in Cork, Ireland, by 2018-end, the Irish Independent reported.

Germany and Austria

* Deutsche Wohnen SE reported funds from operations I for full-year 2017 of €432.3 million, up 12.6% year over year from €383.9 million.

FFO I per share climbed 7.9% year over year to €1.23. The German residential property developer expects an FFO I of €470 million for full-year 2018.

* Hamborner REIT AG completed the placement of promissory note loans worth €75 million which were issued with maturities of five years and seven years with both fixed and floating interest rates.

Part of the proceeds is earmarked to fund a newly agreed €42.8 million property acquisition in Darmstadt, Germany.

* Austrian property developer Rene Benko could acquire Vienna Insurance Group AG's 10% stake in S IMMO AG "within days," Reuters reported, citing Der Standard, which in turn cited a "reliable" source.

* Tristan Capital Partners is selling the Garden Tower in Frankfurt that it bought for €175 million December 2015 in partnership with Cornerstone Real Estate Advisers, PropertyEU reported.


* In a forward purchase deal, AEW bought a 150,000-square-foot office building under construction at the Rio 55 business park development in Madrid for €43 million on behalf of its AEW Europe Value Investors Fund, PW reported.

The property is being developed by Insur.


* France's national rail company, SNCF, is sounding out buyers for its €1.5 billion portfolio which comprises social housing estates, PropertyEU reported, citing EuoProperty.


* Finland's real estate market is seeing increasing investments from Korean investors, owing to the country's economic recovery and attractive real estate pricing, Property Investor Europe reported, citing Sami Kiehelä, head of investment properties – capital markets at CBRE Finland.


* Russian real estate investment volume in the first quarter dropped 4.7x year over year to €121.6 million, Europe Real Estate reported, citing CBRE.

Middle East

* Aldar Properties PJSC is launching a 440 million United Arab Emirates dirham residential development, dubbed Reflection on Reem Island in Abu Dhabi, Arabian Business reported.

The property comprises two towers with a total of 374 homes.

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The Daily Dose Europe, Real Estate edition, is updated by 6:30 a.m. London time. S&P Global Market Intelligence provides links to external sites where these offer further, relevant information to our readers. While we ensure that such links are functional at the time of publication, we are not responsible in instances where those links are unavailable later.

Joyce Guevarra contributed to this report.