* Cinven Ltd. is aiming to sell a prime real estate portfolio in Germany that could trade for up to €2.75 billion, Bloomberg News reported, citing people with knowledge of the matter. The portfolio, which had an initial price tag of roughly €2.2 billion, includes offices, stores and apartments across Berlin, Frankfurt, Hamburg and Munich, the people told the news outlet.
Investors that bid for a portion or 100% of the portfolio earlier during the week ending Sept. 27 include Allianz SE, Blackstone Group Inc., CBRE Global Investors LLC, Commerz Real AG and Union Investment Real Estate GmbH, sources said.
* ADO Properties SA agreed to sell all the shares in certain subsidiaries that own 23 properties totaling 5,800 residential units. The sale price for the shares is €920 million, less roughly €340 million of net debt on the companies being sold.
The shares are being sold to Gewobag Wohnungsbau Aktiengesellschaft Berlin. The deal is subject to customary conditions including merger control approvals.
* A Korean-led consortium is paying about €400 million for a portfolio of Amazon.com Inc.-leased properties in Barcelona, Paris and Bristol, U.K., Business Immo reported, citing unnamed sources. The portfolio comprises a 204,000-square-meter logistics complex next to Barcelona's main airport, a 15,000-square-meter complex in the south of Paris and a 132,000-square-meter asset in Bristol.
* Newly listed Swedish private equity firm EQT Partners AB is planning a new property fund focused on investors seeking long-term income as it looks to expand its real estate business, Property Week reported. The fund would be launched in 2020 or 2021.
UK
* Landsec received approval from Westminster City Council for the Portland House project in London where the developer plans to add a 15-story side office and retail building with a rooftop restaurant and bar, PW reported.
* Flexible office workspace comprised 35% of commercial property transactions over the past year in London, PW reported, citing The Instant Group. The supply of flexible offices has increased 33% between 2017 and 2019, and flexible offices now comprise 6% of the entire U.K. office market.
* Average U.K. prime warehouse rents increased 5% during the year ended in July, but rental growth is now predicted to slow down, PW reported, citing Colliers International.
* U.S. President Donald Trump's real estate company received approval from the Aberdeenshire Council in northeast Scotland for a £150 million project to develop 500 homes and 50 vacation cottages next to a golf course owned by the president, Bloomberg News reported.
France
* Swiss asset manager Global Gate Capital and Italy-based DeA Capital acquired an office building in the 14th district of Paris from an undisclosed institutional investor, PropertyEU reported.
* The Student Hotel paid roughly €34 million for a refurbishment project in the Compans Caffarelli area in Toulouse, PropertyEU reported.
Germany
* The Collective Partners LLP is entering the German housing market with a focus on projects in seven key cities, according to Europe Real Estate. The company will develop co-living spaces in existing and brand new properties.
* A Universal-Investment-managed fund paid an undisclosed amount to acquire a 12-property portfolio comprising retail parks and supermarkets across Germany on behalf of pension fund Bayerische Versorgungskammer, PropertyEU reported.
Hungary
* M7 Real Estate completed the sale of five logistics parks across Hungary and a retail park in Paks in a deal that is the largest so far in 2019 in the country in terms of gross leasable area, the Budapest Business Journal reported, citing a release sent to the publication. The portfolio totals 84,000 square meters and comprises three properties in Budapest, one in Eger and one in Pécs, along with the Paks retail park. The portfolio's average occupancy was 94%.
Netherlands
* Canada Life Investments secured a €40 million refinancing for a portfolio of retail and residential assets in nine Dutch cities, Europe Real Estate reported. The portfolio includes landmark building Africa House in Amsterdam.
Middle East
* Bloomberg News reported that flagship Dubai developers such as Emaar Properties PJSC and Damac Properties Dubai Co. PJSC were "notably absent" from the Cityscape Global annual real estate conference as Dubai's real estate market goes through its worst run since the 2009 global financial crisis.
The developers that were present only showcased existing developments with no new projects announced. Some developers were seeking opportunities in countries like Georgia or Turkey, the report noted.
* Webridge Properties and Mubadala Investment Co. are launching the first freehold residential project in the new financial free zone in Abu Dhabi where the emirate is now allowing foreign investors to own freehold property, Reuters reported. The planned project comprises the 500 million United-Arab-Emirates-dirham, 22-story, 772-unit Al Maryah Vista apartment building on Al Maryah Island, which only has commercial properties at present.
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