* WeWork Cos. Inc. backed out of a deal to rent an office space in Dublin, Bloomberg News reported, citing people familiar with the matter. The termination of the negotiations to rent a space at the Hibernia REIT PLC-controlled Central Quay office block in the docklands fell through due to factors about the building, and other deals in the city are still going ahead, one of the sources told the newswire.
WeWork parent The We Co. postponed its planned IPO for an indefinite period, saying the decision would allow the company to focus on its core business.
* British house prices grew at a slower pace at 0.2% in September, marking the 10th consecutive month that the annual price growth was below 1%, according to Nationwide Building Society. The subdued figures are attributed to the weaker global growth and mounting Brexit uncertainty.
The average house price in the U.K. was £215,352 in September compared to £214,922 a year ago and £216,096 in August. London and the outer metropolitan region posted an annual price declines of 1.7% and 1.5%, respectively.
* Kingstone Investment Management acquired three office and business park buildings in Nuremberg, Germany, for €90 million, IPE Real Assets reported. The assets were bought on behalf of the company's Kingstone Wachstumsregionen Süddeutschland office fund.
* Demand for fixed-rate, longer-term refinancing grew in the recent months due to low interest rates in Europe and the U.K., among other factors, JLL's the Investor reported. Michael Kavanau, EMEA debt advisory at JLL, said fixed-rate loans now account for a quarter of Europe's real estate loan market, up from about 15% roughly five years ago.
UK
* Property developers PegasusLife, Anthology and Renaissance Retirement plan to merge to create housebuilding company Lifestory, Showhouse reported. The combined entity will operate across three regions and build property types that include starter and retirement homes.
It will be backed as well as funded by Oaktree Capital Management, which is the majority owner of both Anthology and Pegasus Life.
* British Land Co. PLC was granted approval by Southwark Council to develop 53 acres of land in Canada Water, London. The mixed-use development will comprise about 2 million square feet of workspace; roughly 1 million square feet of retail, leisure, education and community space; and about 3,000 new homes, 35% of which will be affordable.
* BMO Real Estate Partners secured €250 million in equity commitments for its open-ended Best Value Europe II fund, Property Funds World reported. The fund has a target equity of €600 million and focuses on prime high street retail properties within top European cities.
Eight investments to date have lifted the fund's portfolio gross asset value to €233 million.
* Cording Real Estate Group completed the disposal of two industrial estates in Wigan and Wolverhampton for £20 million. The transaction reflects a blended net initial yield of 8%.
In Wigan, the 360,436 square-foot Hindley Green Business Park was sold to a private overseas investor. Meanwhile, the nine-unit, 114,913-square-foot Oxford Street Industrial Estate in Wolverhampton was off-loaded to funds managed by Blackstone and M7 Real Estate.
* U.K.-based restaurant and pubs operator Restaurant Group PLC completed the sale and leaseback of its office at 5-7 Marshalsea Road in Southwark, London, Property Week reported. The firm signed a sale and leaseback agreement with a Japanese buyer for a sum of about £27 million.
Germany and Netherlands
* Asset manager AEW acquired an office building in Cologne, Germany, from Gateway Real Estate and Patron Capital for an undisclosed sum, Property Funds World reported.
The 15,600-square-meter One Cologne at Venloer Straße 151-153 was bought on behalf of a French institutional investor. The asset is fully let to four tenants including Deutsche Lufthansa and Stadt Köln with a weighted average unexpired lease term of 16.2 years.
* Property investor Nuveen Real Estate bought the third phase of a logistics hub in Venlo, the Netherlands, for about €40 million, according to PropertyEU. The company acquired the first two phases in 2018.
Italy
* Aquila Capital Concepts GmbH is developing a 104,000-square-meter logistics space in Tortona, Italy, near Milan, IPE Real Assets reported.
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