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Primonial buys Paris asset for €400M; Skanska replaced on £1B London project

* Colonial Group's French subsidiary Société Foncière Lyonnaise is believed to be selling the 35,000-square-meter IN/OUT building in Paris' Boulogne-Billancourt district to Primonial. The building exchanged hands for approximately €400 million, according to PropertyEU.

* Skanska will be replaced by construction company Mace on the more than £1 billion phase two contract of the Power Station development in Battersea, London, Construction Enquirer reported. Mace will assume the construction management through a handover, which will take place over two months.


* Pacific Industrial & Logistics is expecting to raise £53.0 million in proceeds after conditionally placing 46,086,957 shares at 115 pence apiece. The company had initially intended to raise up to £110 million through the placement.

* Ærium purchased the One Central Square grade A office property at Cardiff's city center in Wales from Legal & General for £51 million. The 134,950-square-foot property rises nine floors and is 97% let to six tenants, including Blake Morgan LLP, Julian Hodge Bank and RBS, with a weighted average lease term of 9.4 years.

* Grainger Plc and APG's joint venture, GRIP REIT, agreed to forward fund and acquire a build-to-rent, private rented sector scheme in Milton Keynes from High Street Group for £30.5 million. The approximately 90,000-square-foot development includes 139 homes, residential amenities and commercial space, among other facilities.

* Landsec signed a 25-year, prelet agreement with Deutsche Bank for the latter's new headquarters at 21 Moorfields in London. The lease agreement is conditional on planning permission being secured for the 564,000-square-foot building, which will be sought later in 2017. Deutsche Bank has committed to take at least 469,000 square feet of space at the property.

* BNP Paribas Real Estate acquired Strutt & Parker, a U.K. property service group, agreeing to merge its local subsidiary with the latter in a deal that is expected to be finalized in September, according to The (U.K.) Guardian.

* UBS Asset Management's Real Estate & Private Markets unit said UBS Triton Property Fund bought the Stakehill Industrial Estate in Middleton, Manchester, for £46.35 million, taking the fund's exposure to the sector to 37%. The 679,845-square-foot multilet logistics asset offers 45 units and two office buildings on a 50-acre plot and is one of the largest warehouse and distribution parks in the region's northwest, according to a release.

* Rockspring Property Investment Managers LLP purchased four urban logistics properties in the U.K. for a combined sum of £47 million. The properties are in Belvedere, Poyle, Cheltenham and Brackley.

* The Newham council approved plans for the largest pop-up workspace to be built at London's Silvertown area, Property Week reported. The Silvertown Studios project involves the redevelopment of up to 200 shipping containers into work spaces, studios, exhibition and community spaces, and retail units. The development is part of the £3.5 billion Silvertown regeneration scheme, which includes the construction of 3,000 homes and 5 million square feet of commercial space, the report added.

* Quintain filed outline plans for the redevelopment of the Stadium Retail Park and the vacant Fountain Studios site in Wembley, London, which will produce a 900,000-square-foot mixed-use scheme, CoStar (U.K.) reported. The latest plans, which include the addition of up to 85,000 square meters of new floor space spread over several buildings, forms part of the developer's wider Wembley regeneration project.

Southern Europe

* Intu Properties Plc and TH Real Estate became joint owners of the Madrid Xanadú shopping center in Spain through a 50/50 joint venture, after satisfying certain completion conditions for the transaction.

* Shareholders of Inmobiliaria Colonial SA approved the company's proposal to convert into a Spanish real estate investment trust, effective Jan 1.

* Prelios SpA shareholders Pirelli & C. SpA, Intesa Sanpaolo SpA, UniCredit SpA and Fenice Srl will not consider the CEFC Group's bid to acquire their interest in the Italian company. CEFC offered to buy their combined 611,910,548 shares, or a 44.86% stake, in Prelios at 11.6 euro cents per share.

* Benson Elliot and Walton Street Capital LLC's joint venture, Algonquin SA, sold the Sheraton Hotel in Rome after buying the asset as a part of an eight-asset, pan-European hotel portfolio in October 2015.

* A €500 million partnership between Redevco and Ares Management acquired the Mercado San Miguel covered central food market in Madrid from a consortium of private investors for €70 million, PIE reported. The 1,800-square-meter building is fully let and accommodates 30 grocery and delicatessen units, as well as 13 restaurant stalls, according to the report.

Germany and Austria

* Deka Immobilien, on behalf of the Deka-ImmobilienEuropa fund, off-loaded two office buildings in Vienna to Donauhof Immobilien for approximately €82 million, PIE reported. The assets offer more than 40,000 square meters of rental space in the second district of the city, the report noted.

* Barings Real Estate Advisers purchased the TRIGA office building in Leinfelden-Echterdingen, Germany, from a local institutional investor for an undisclosed sum. The five-story, 11,320-square-meter asset was scooped up on behalf of SIS Stuttgarter Immobilien-Spezialfonds.

* Rezidor Hotel Group AB and joint venture partner prizeotel are developing a new 195-room prizeotel asset in Münster-City, Germany, which is slated to open in 2020. Local developer Landmarken AG will undertake the construction of prizeotel Münster-City.

The Netherlands and Luxembourg

* Tristan Capital Partners paid €48.5 million to purchase a Dutch portfolio of eight properties in Amsterdam and two in Utrecht for its CCP 5 Long-Life core-plus fund, PIE reported. Union Street Edge disposed of the properties in Amsterdam, while the seller of the Utrecht assets was not made known.

* Grand City Properties SA detailed the results of its cash tender offer to purchase its €500.0 million 2.00% notes due 2021, with €320.6 million of the notes validly tendered. The company decided to accept for purchase all notes validly tendered at 106.888% of the principal amount.

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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.

Celestyn Wong contributed to this report.