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US REIT in £1.5B UK hospitals buy; London, Dublin possible sites for TikTok HQ

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US REIT in £1.5B UK hospitals buy; London, Dublin possible sites for TikTok HQ

Editor's note: The Daily Dose Europe, Real Estate edition will not be published Dec. 25 and Dec. 26. The next iteration will be published Dec. 27.

* U.S.-based healthcare real estate investment trust Medical Properties Trust Inc. signed definitive agreements to buy the real estate of 30 acute care hospital facilities across the U.K. for an aggregate price of roughly £1.5 billion. The facilities are leased under long-term inflation protected net leases to BMI Healthcare affiliates.

In a related deal, Circle Health affiliates will acquire BMI and take over operations of its 52 facilities in the U.K. Closing is expected in the first quarter of 2020, subject to customary closing conditions.

* Bytedance Inc., the parent company of video-sharing app TikTok, is considering a new global headquarters for TikTok outside of China, with London, Dublin and Singapore as potential locations, The Wall Street Journal reported, citing people familiar with the company.

UK

* Derwent London PLC agreed to sell its leasehold stake in 40 Chancery Lane WC2 mixed-use property in London for £121.3 million to Deka Immobilien. The 103,700-square-foot office and retail building is leased to Publicis Groupe SA until July 2035, with a tenant break in July 2033.

* McKay Securities PLC is selling the long leasehold interest in the 30 Lombard St. prime office building in the City of London for £76.5 million. The price reflects a net initial yield of 4.16%. The sale is expected to complete in roughly three months, subject to third-party approvals and the landlord's consent, among other things.

McKay, which owned the long leasehold of the site since 1999, completed a redevelopment of the property earlier in 2019 and the property was pre-let to St. James's Place PLC on a 15-year lease. The property offers 58,500 square feet across 11 floors, marking a 62% increase in lettable area after the redevelopment.

* Summix Capital received planning approval from Bristol City Council for a mixed-use project with 189 student rooms and 102 co-living studios and ground-floor flexible co-working spaces in Bristol's Old Market, Property Week reported.

Netherlands

* U.K.-based Tritax Eurobox PLC bought a newly developed logistics property at Breda in the Netherlands for €50.3 million, reflecting a net initial yield of 4.6%. The acquired property was completed in November and has value-add potential through the leasing of vacant units. It spans 46,185 square meters of gross internal area and has four units, of which two are leased to Abbot Logistics BV on a 10-year term.

Middle East

* Emaar Properties PJSC is said to be considering a potential sale of the observation decks of the Burj Khalifa, the world's tallest skyscraper, for $1 billion as it looks to raise funds during a real estate downturn, Reuters reported, citing four unnamed sources. Standard Chartered has been enlisted to advise on the sale of the tourist attraction, two of the sources told Reuters.

The Daily Dose Europe, Real Estate edition has an editorial deadline of 7 a.m. London time. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.