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Investor urges PATRIZIA to pay special dividend; €105M Swedish portfolio sold

* Activist investor Union Investment called on PATRIZIA Immobilien AG to pay shareholders a special dividend amounting to €300 million, or roughly €3.50 per share, from the sale of the Harald portfolio. PATRIZIA sold the residential portfolio in 2015 to Deutsche Wohnen AG for roughly €1.2 billion.

* ICA Real Estate sold 12 Swedish retail assets to its joint venture with pension fund AP1, Secore Fastigheter, in a deal worth over 1 billion Swedish kronor, or approximately €105 million, Property Investor Europe reported.

The properties offer a gross leasable area of 38,400 square meters and are leased to ICA and pharmacy chain Apotek Hjärtat. The transaction is expected to close in June.

UK and Ireland

* Moody's affirmed Hammerson Plc's Baa1 long-term issuer rating and senior unsecured domestic and foreign currency bond ratings, while revising the outlook on the ratings to stable from negative.

* Allianz Global Investors and the University Partnerships Programme, or UPP, are financing the construction of 1,750 student rooms on-campus at the University of Hull in the U.K., IPE Real Estate reported.

Allianz Global Investors is supplying funds worth £127.6 million in the form of 40-year, index-linked bonds, while UPP and the university are providing £27.4 million worth of subordinated debt and equity to the project being developed by Vinci, the report noted.

* Europa Capital and Ediston Real Estate jointly purchased the 116,656-square-foot Auldhouse Retail Park in Glasgow, Scotland, from Aviva Investors, IPE Real Estate reported. The asset is fully leased to tenants including Homebase and Aldi, the report added.

* Forshaw Land and Property Group is seeking approval from the Salford City Council for a £40 million project to deliver 252 new apartments in Salford, U.K., reported. The project involves three buildings ranging from seven to eight floors.

* According to Savills' Hotels and Leisure unit, Dublin's pipeline consists of 3,000 hotel rooms, which are set to be delivered by 2020, reflecting a 15% rise in supply, the Irish Independent reported. Current supply stands at approximately 19,000 rooms.

Southern Europe

* Commerzbank fund manager Commerz Real reopened the Oriocenter mall in Bergamo, Italy, following an €80 million expansion project of the asset, PIE reported. The shopping center was extended by 35,000 square meters to 105,000 square meters, making it the largest in the country, according to the report.

Commerz Real has invested a total of €410 million in the mall, including the purchase price.

* M&G Real Estate signed a €56 million deal to purchase 15 Banco Santander branches in Spain and an option to buy one more, PropertyEU reported.


* First-quarter real estate investment volume in Germany rose 27.3% on the year, but overall volume was down 8.3% year over year at €44.2 billion, PIE reported, citing Knight Frank. Germany has remained Europe's most active investment market in the quarter, surpassing the U.K. in transaction volume for the third consecutive quarter.

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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.

Joyce Guevarra contributed to this report.