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Domicil postpones IPO plan; Argan acquires Carrefour's Cargo Property Assets


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Domicil postpones IPO plan; Argan acquires Carrefour's Cargo Property Assets

* German real estate company Domicil Real Estate AG postponed its plans for an IPO on the Frankfurt Stock Exchange indefinitely, citing unfavorable stock market conditions.

* Carrefour SA completed the sale of its entire ownership in Cargo Property Assets to French real estate company Argan SA.

When the agreement was first announced in July, the French food retailer said the deal value was approximately €290 million. Most recently, Carrefour said it received €288 million in remuneration from the disposal, of which 80% was paid in cash and 20% in Argan stock.

* Belgium-based Xior Student Housing NV will pour in roughly €171.0 million in new investments in Spain and Portugal as part of its expansion plans in the Iberian peninsula. Xior agreed to buy two projects in Barcelona with a total of 206 units and is acquiring a roughly 1,900-unit U.hub portfolio of student residences and operational projects in Porto and Lisbon.

* Commercial property lending in the U.K. grew to £23.3 billion in the first half of 2019 from £21 billion in the same period a year ago, despite headwinds including Brexit-related uncertainty and lack of property transactions, Property Week reported, citing the "Cass Business School UK Commercial Real Estate Lending Report." Lending margins against prime London offices fell 196 basis points in June.

UK and Ireland

* London-based industrial and logistics giant Segro PLC has more than 1 million square meters of new space under construction or in advanced discussions, CEO David Sleath said in the company's latest trading update. Segro signed contracts amounting to £15.3 million in the third quarter, higher than £12.6 million in the same period in 2018. However, in the first nine months of the year, newly signed contracts declined year over year to £48.6 million from £52 million.

* Columbia Threadneedle Investments is understood to have outbid other investors for The Manchester Airport Group PLC portfolio for about £500 million to £550 million, PW reported.

The portfolio comprises industrial assets and development sites around Stansted Airport, Manchester Airport and East Midlands Airport.

* British government-owned Ebbsfleet Development Corp. bought a 310-acre site in Kent, U.K., near Ebbsfleet international rail station, where it plans to develop a mixed-use complex, PW reported. The site will serve as the central hub of Ebbsfleet Garden City, which will house commercial and residential schemes. A joint venture of Landsec and Ebbsfleet Property LLP sold the site.

* InfraRed Capital Partners acquired a roughly 65-acre industrial estate in Liverpool, U.K., for roughly £30 million.

The Triumph Business Park in the district of Speke was purchased on behalf of InfraRed Active Real Estate Fund IV. The park comprises an existing 825,000 square feet of various unit sizes, roughly 15 acres of open storage and about 10 acres of development site.

* Ballymore International Developments Ltd. is planning to develop a 23-story, 741-unit apartment block in Dublin's city center, The Irish Times reported. Ballymore and its Singapore-based partner Oxley Holdings will build the tower within the wider Connolly Quarter mixed-use development. The duo will submit a separate proposal for two office buildings and a hotel within the scheme, according to the publication.


* Deka Immobilien Investment GmbH acquired two shopping centers in Germany from Partners Group and Arax Properties for about €147 million, PropertyEU reported.

* Warburg-HIH Invest Real Estate acquired an office property in Frankfurt for an undisclosed sum, REP Europe Real Estate reported. On behalf of Deutschland Selektiv Immobilien Invest fund, Warburg-HIH Invest bought Dock A and Dock B of The Docks project, which comprises roughly 9,300 square meters of space. Tenants include Regus and Verlag fur Standesamtwesen.

* AEW bought an office development in Munich from Optima-Aegidius Firmengruppe, according to Property Magazine International.

The New Eastside property in the borough of Berg am Laim was acquired on behalf of a private German mandate.


* Invesco Real Estate acquired a 9,400-square-meter office building in Milan from fund manager COIMA SGR for an undisclosed amount, IPE Real Assets reported.

Built in 1873, the seven-story Palazzo Turati at Via Meravilgi 7 has been fully let to Milan Chamber of Commerce since 1954.

Middle East

* Data from Property Finder Group's Data Finder showed Emaar Properties PJSC accounted for the bulk of real estate project handovers in Dubai in the last six months, Arabian Business reported. Emaar's community Dubai Hills Estate on Al Khalil Road has logged the highest number of handovers.

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