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Reuben Brothers wins bid for Santander HQ; Doğuş in talks to sell luxury hotels

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Reuben Brothers wins bid for Santander HQ; Doğuş in talks to sell luxury hotels

* A Spanish court backed Reuben Brothers' tender to buy Banco Santander SA's headquarters ouitside Madrid for €283 million in cash, net of debt. The bank had submitted a €232 million bid to regain ownership of the property and still has the right of first offer for the asset.

* Turkish conglomerate Doğuş Holding AŞ is in talks to dispose of some of its European luxury hotels to Dubai Holding LLC, under its debt restructuring program. The potential buyer is in the due diligence stage for the Capri Palace and the Aldrovandi Villa Borghese hotels in Italy.

UK and Ireland

* A joint venture between Great Western Developments and Sellar hired Mace as the main construction partner for the £350 million, 360,000-square-foot Paddington Cube mixed-use project in London, Construction Enquirer reported.

The proposed development is part of the wider Paddington Square scheme, valued at approximately £850 million and slated to be completed by February 2022, according to the report.

* The Merseyside Pension Fund is loaning a £20 million senior facility to Marcus Worthington Group to fund the redevelopment of North Western Halls in Liverpool, U.K., into a 202-bed hotel, Property Week reported.

* Deloitte signed a lease deal to take up 100,000 square feet of office space at McAleer and Rushe's Bedford Square development in Belfast, U.K., PW reported. The anchor tenant of the £85 million project will consolidate its offices at its new Northern Irish headquarter premises.

* Whitbread PLC bought the Twilfit House development site in Dublin for an undisclosed amount, with a view to transform it into a new 180-bedroom hotel under its Premier Inn brand, the Irish Independent reported.

Germany

* Summit Germany Ltd. is targeting an IPO in 2019 for its Summit Luxco SARL unit on the regulated market of the Frankfurt Stock Exchange. Summit Luxco is responsible for all of Summit Germany's real estate assets and property-management operations.

* W. P. Carey Inc. closed its roughly €160 million sale of a 100,000-square-meter German portfolio comprising do-it-yourself stores, PropertyEU reported. The deal reflected a yield of 6.75%, the report added.

* Momeni Immobilien Holding GmbH divested the Wallarkaden office and retail project in Cologne for €140 million to a group of German pension funds, Property Investor Europe reported. The eight-story property will offer about 20,000 square meters of gross floor area upon its completion by 2021.

* Axa Investment Managers - Real Assets paid an unknown sum to acquire the TechnoCampus office complex in Berlin for its clients from Caleus TechnoCampus Berlin GmbH. The 48,000-square-meter property encompasses four buildings, including roughly 39,000 square meters of office space.

* German hotel deals declined 7% to €3.85 billion in 2018 from a year earlier because more investors focused on single-property transactions and of the lack of opportunities for portfolio deals, PIE reported, citing JLL. Meanwhile, single hotel deals increased 12% on the year to €3 billion.

France

* French investor Stam Europe purchased two properties in December 2018, collectively valued at €110 million, for its newly launched multifamily housing Opera Fund. The fund is looking to raise between €300 million and €400 million, after initially securing commitments of €84 million.

Netherlands

* Dutch property investment company Wereldhave NV's CEO, Dirk Anbeek, is stepping down from the position after 10 years with the company. Anbeek will remain CEO until March 1 and wrap up pending commitments by April 1.

Poland

* According to Savills, commercial real estate investment volume in Poland reached an all-time record of €7.2 billion in 2018, marking an almost 45% year-over-year rise on €5.0 billion in 2017. The office sector accounted for more than €2.75 billion of the investment total, while investment in the retail and industrial sectors amounted to roughly €2.5 billion and €1.84 billion, respectively.

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Extra: Top UK retail boss expects lower rents, more flexible leases in years ahead

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