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AccorHotels, NEPI Rockcastle log FY'17 numbers; Icade issues €600M bond

* AccorHotels' net profit for the 2017 financial year amounted to €441.0 million, up 66.% from €265.0 million in the prior-year period. Earnings before interest and tax, or EBIT, totaled €492.0 million, an increase of 23.9% from €397.0 million in 2016.

* NEPI Rockcastle Plc registered a loss attributable to equity holders of approximately €579.7 million for full year 2017, compared to a profit of roughly €235.0 million in 2016. The company's headline EPS slipped to 35 euro cents from 35.72 cents as at Dec. 31, 2016.

* Icade issued a €600 million bond, with an annual coupon of 1.625% and a 10-year maturity.

Additionally, the French developer launched offers to purchase three existing bonds in cash — the €500 million bonds maturing Jan. 30, 2019; the €500 million bonds maturing April 16, 2021; and the €500 million bonds maturing Sept. 14, 2022.


* Unite Group Plc is looking to raise gross proceeds of roughly £170 million via the placement of up to 22.2 million new ordinary shares. Proceeds will be used to fund the development of an 887-bed scheme in Oxford and a roughly 1,000-bed project in London, with a capital expenditure of £73 million and £195 million, respectively.

* Landsec secured revised planning approval for its proposed 564,000-square-foot office building at 21 Moorfields in London. The property will serve as the new headquarters of Deutsche Bank.

* Invesco Real Estate is forward-funding the development of 383 build-to-rent residential units in Liverpool City Centre in North West England, after buying the project as part of its U.K. residential strategy for roughly £86 million.

* Mayor of London Sadiq Khan will pour £500 million into a residential-led redevelopment in Barking Riverside, east London, in a partnership with developer L&Q, Property Week reported. The scheme, one of the biggest regeneration projects in the U.K., will deliver 11,000 homes alongside other facilities.

* HM Revenue and Customs, a department of the U.K. government, agreed to take up 112,256 square feet of space across 13 floors of One and Two Telford Plaza, PW reported. The deal is Telford's largest commercial letting in more than a decade, the report added.

* The Strategic Land Group is divesting a 33-acre greenfield site in Stoke-on-Trent, which has an estimated gross development value of between £50 million and £55 million, PW reported. The company placed the site on the market after securing an outline planning permission from the planning committee of Stoke-on-Trent City Council for 350 new homes, the report added.

* U.K. commercial real estate investments totaled £4.2 billion during January, registering a 66% jump year over year due to strong performance of the office and industrial sectors, PW reported, citing Savills.

France and the Netherlands

* Mercialys placed an eight-year, €300 million bond, maturing in February 2026, with a fixed coupon of 1.80%. Proceeds from the placement will be channeled toward general business purposes, including the redemption of a €479.7 million bond issue due March 2019.

* Curlew Alternative Asset Management was awarded a €150 million mandate by a Dutch insurance company to invest in student and young professional housing in the Netherlands. The funds will be used to primarily acquire new purpose-built properties and conversions through forward funding or forward purchase.

* Round Hill Capital, in a partnership with G&S Vastgoed and Boelens de Gruyter, bought a 4.5-hectare business park in Utrecht, Netherlands, with plans to transform it into a new urban neighborhood. The site has the potential to accommodate between 6,000 and 10,000 residential units, the report added, citing Round Hill founder and CEO Michael Bickford.


* S&P Global Ratings affirmed its BB long-term issuer credit rating on German property investment company Adler Real Estate AG, with a positive outlook.

* Internos Spezialfondsgesellschaft mbH has set up the Care Invest II fund to acquire healthcare properties across Germany, with a planned investment volume of roughly €300 million.

Czech Republic

* International Campus AG and Karlín Group have teamed up to purchase a 529-unit student housing development project in Prague's Holešovice district for an undisclosed sum, Europe Real Estate reported. The asset, dubbed THE FIZZ Prague, will encompass an above-ground gross floor area of 16,529 square meters over eight floors, with opening scheduled for the first quarter of 2020.

Other real estate news

* Gazit-Globe Ltd. wrapped up a public offering of series M debentures in Israel to raise gross proceeds of roughly 860 million new Israeli shekels. The funds will be used to refinance existing debt, as well as for general corporate purposes.

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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. 20, US$1 was equivalent to about 3.50 New Israeli shekels.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.