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Vinci in £2.9B UK airport stake buy; London project lands £62.5M loan

* France-based Vinci Concessions SAS' Vinci Airports SAS division entered an agreement to buy a 50.01% stake in the Gatwick Airport in London for approximately £2.9 billion, subject to closing adjustments.

Global Infrastructure Partners is selling the interest and will continue to manage the remaining 49.99% interest in the airport property after the scheduled completion of the deal in the first half of 2019.

* Starwood European Real Estate Finance Ltd. provided a roughly £41.3 million loan to partly fund a prime mixed-use development in central London with Starwood Property Trust Inc. The loan accounts for 66% of the total £62.5 million fixed-rate mezzanine facility. The loan was partly funded Dec. 21, with the rest expected to be paid in January 2019, according to a release.

Ireland

* The average sale value of a Dublin pub climbed 68% year over year to nearly €1.7 million in 2018. Nineteen such assets were sold during the year, lower than the 24 sold in the year before, the Irish Independent reported, citing CBRE. The average price in 2010 was €650,000.

Middle East

* According New ValuStrat, Dubai's residential sector is projected to see further rental declines in 2019, mainly in areas where long overdue new projects are being handed over, Arabian Business reported. Meanwhile, rental value for prime residential properties in the emirate are expected to improve in the new year, the report added.

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