This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.
* Citycon Oyj completed the disposal of Satakunta University of Applied Sciences' campus building in Pori to Swedish property investor Hemsö for €57 million. The building is rented to the university as teaching facilities on a long-term 20-year lease.
The proceeds will be used to repay debt and strengthen the company's balance sheet, according to Eero Sihvonen, Citycon's executive vice president and CFO.
* Kungsleden AB will dispose of its Aspgärdan 18 property in Umeå via two separate transactions. The property comprises a school building, which was sold to Fastighets AB Stenvalvet for 149.5 million Swedish kronor, and a residential area, which HSB acquired for an undisclosed sum. The transaction for the school building, which is leased to International English School, fetched a profit of 7.5 million kronor, while the residential asset deal generated positive earnings amounting to 58 million kronor.
The transactions are expected to be finalized by the end of 2017. Following the disposals, the company will have off-loaded 150,000 square meters of its residential development potential in its real estate portfolio.
* D. Carnegie & Co completed the sale of a site-leasehold with a grocery store in Akalla, Stockholm, to a wholly owned subsidiary of SSM Holding AB for a total of 80 million kronor, representing a net profit of approximately 39 million kronor. Stockholm Mariehamn 1, which was acquired by the company in 2014 for 25 million kronor, comprises a 2,600-square-meter building with commercial tenants. The closing took place May 31.
* Wihlborgs Fastigheter AB will invest 66 million kronor for the deal with MAN Truck & Bus to construct a service center for trucks and buses, along with an office space of 2,300 square meters, at Stora Bernstorp in Burlöv. The investment is expected to generate a yield of 7%. Occupancy is slated for July 1, 2018. Vestergaard Nielsen A/S has been tapped as the contractor for the planned project.
* Primary Health Properties Plc's subsidiary will provide development funding for the construction of a primary care center in Churchdown, Gloucestershire, with a total cost of £5.0 million. Primary Health Properties will own the asset after its completion. The property will comprise an area of 1,184 square meters, which will then be fully let for 20 years to a GP surgery with a patient list of more than 13,500, along with a pharmacy.
The acquisition will increase the company's portfolio to 300 assets with a gross value of approximately £1.25 billion and a contracted rent roll of just over £70 million.
* Aedifica SA agreed to purchase the Seniorenresidenz Laurentiusplatz seniors housing site, in Wuppertal-Elberfeld in the state of North Rhine-Westphalia, for roughly €5 million. The company earmarked approximately €3 million for renovation works which are expected to complete by the end of 2018. The site, which has a 25-year double-net long lease, has a capacity of 79 units.
The operation will be financed using the company's credit facilities.
VGP closes €173M sale of logistics portfolio to JV: Following completion, the joint venture owns 43 completed buildings totaling 808,904 square meters of lettable area.
Lendlease to develop £350M London office for Google: The plans for the seven- to 11-story building, with capacity for 4,000 employees, were delivered to Camden Council for approval this week, according to the Construction Enquirer.
Warimpex Finanz wraps up sale of 8 hotels: The €180 million transaction comprises half of the company's total real estate asset value.
Report: Russian investment group eyeing IMMOFINANZ Moscow portfolio: The portfolio includes five shopping centers and had a book value of just over €997 million at March-end, Reuters reported.
Resilient REIT JV nabs 2 Portuguese malls in €219M deal: The partnership has secured a five-year debt facility of €104.5 million at a 3-month Euro interbank offered rate plus 2.15% against the assets.