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Goldman Sachs weighs new London HQ sale; DEMIRE, unit receive takeover offers

* Goldman Sachs Group Inc. is considering a sale and leaseback of its new European headquarters in London, a deal that could fetch more than £1 billion. The bank is scheduled to relocate to the building in early 2019.

* AEPF III 15 Sàrl, controlled by funds advised by an Apollo Global Management LLC affiliate, intends to launch a mandatory tender offer for DEMIRE Deutsche Mittelstand Real Estate AG priced at €4.35 per share. The AEPF holding company partnered with the Wecken Group, which owns a roughly 29.91% stake in the company, to acquire control over DEMIRE.

Additionally, AEPF is launching a voluntary takeover offer for DEMIRE's Fair Value REIT-AG subsidiary, with plans to delist the REIT's shares from the Frankfurter Wertpapierbörse's regulated market.

* Affiliates of Blackstone Group LP's newly formed pan-European core-plus unit wrapped up their €260 million acquisition of Taliesin Property Fund Ltd. for €51 per share. The deal was announced in December 2017.

UK and Ireland

* U and I Group PLC signed an agreement with Brighton & Hove City Council to deliver a £300 million regeneration project at Preston Barracks, which is one of the city's largest-ever schemes. The project will deliver 369 homes and 1,338 student beds, among other facilities, the company said in a release.

* Quintain Ltd divested the Aldermary House building at 10-15 Queen St. in the City of London to Saïd Holdings for £48 million, at a net initial yield of 6.5%.

* Real estate investor Tellon Capital paid approximately £60 million to purchase the out-of-town Chineham Shopping Centre near Basingstoke, U.K., from LGIM Real Assets, Property Week reported. The 171,000-square-foot retail park contains 29 units and a public library.

* Vanguard Real Estate is seeking planning permission for the initial phase of its £400 million redevelopment at Belfast Waterside in the U.K., PW reported. The £50 million first phase will feature 250,000 square feet of grade A office space, the report added. Winder plans for the development include a hotel, serviced apartments, residential units, and retail and leisure space.

* Mayor of London Sadiq Khan may use his authority to greenlight a five-tower residential development in Brentford, U.K., after the Hounslow Council refused to grant consent to the project, Construction Enquirer reported. The development involves the construction of 427 homes on the Citroen Site on Capital Interchange Way.

* Tetrarch Capital purchased the Citywest Hotel development in Dublin after receiving a €60 million loan facility from Starwood European Real Estate Finance Ltd., PW reported. Tetrarch bought U.S.-based investment company Pimco's stake in the 764-room hotel to fully acquire the property, with plans to reposition the asset.

France and Luxembourg

* Icade repurchased €200 million worth of bonds out of the €371 million tendered into an offer the company launched to purchase three existing bonds in cash.

* Grand City Properties SA's cash tender offer to purchase its €500.0 million of 2.00% notes due 2021 expired Feb. 23. The company tendered €40.6 million aggregate principal amount of a total of €179.4 million of outstanding notes at a price of 106.129% of the principal amount.


* In a joint venture with Blue Noble, Hines has entered the Italian student housing sector by acquiring a site in Milan for the construction of a 600-bed student accommodation facility, Europe Real Estate reported. The deal is expected to be completed in May 2018 and the development is slated to be wrapped up by the end of 2020, the report added.


* A BNP Paribas Real Estate Investment Management-led consortium paid an undisclosed sum to acquire French cosmetics company L'Oréal's German headquarters in Düsseldorf from die developer Projektentwicklung GmbH, IPE Real Assets reported. The deal for the 24,000-square-meter Horizon building was carried out on behalf of OPCI BNP Paribas Diversipierre, BNP Paribas Cardif and Sogecap, according to the report.


* German fund manager Aachener Grundvermögen purchased a prime retail asset on 45-47 Købmagergade in Copenhagen from Aberdeen Standard Investment for 565 million Danish kroner, marking its first acquisition in Denmark, PW reported. The building is leased to high street brands Calvin Klein, JD Sports, H&M and Message, the report added, citing Savills, Aberdeen Standard's adviser on the deal.

Middle East

* In a bid to close one of Saudi Arabia's longest-running debt disputes, the kingdom's authorities intend to auction billionaire Maan al-Sanea's and his Saad Group's real estate assets, among other assets, which are said to be worth billions of dollars, Reuters reported. The businessman was detained in 2017 for unpaid debt dating back to 2009, according to the report.

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The Daily Dose Europe, Real Estate edition, is updated as of 6:30 a.m. London time. Some links require a subscription. Articles and links are correct as of publication time.

Anusha Iyer contributed to this report.

As of Feb. 26, US$1 was equivalent to about 6.05 Danish kroner.