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Klövern sells 894M Swedish kronor portfolio; Citycon acquires Norwegian office

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

Sweden

* Klövern AB sold four properties in Säter to Landstinget Dalarna and 12 properties in Karlskrona to its municipal government for a combined 850 million Swedish kronor. The Säter portfolio sale is expected to close Dec. 15, while the Karlskrona properties will be completely transferred May 2, 2017.

The properties in Säter have a total lettable area of around 44,000 square meters, while the Karlskrona properties have a leasable area of about 57,000 square meters.

Additionally, the company sold two properties in Hässleholm and Västerås for 44 million kronor, taking the total acquisition price of its assets to 894 million kronor.

Klövern also acquired the Majorna 220:5 property in Gothenburg for 150 million kronor. The fully let asset has a lettable area of 4,410 square meters and garage space of 2,970 square meters.

* Castellum AB completed the sale of an office property in Luleå for 486 million kronor. Specialfastigheter acquired the asset, which was handed over Dec. 15. The sale paved the way for Castellum to exit the Luleå market.

Norway

* Citycon Oyj plans to acquire an office building in Bergen for 710 million Norwegian kroner from anchor tenant Tryg Forsikring A/S. The mall landlord said the acquisition could allow the company to develop and expand the adjacent 31,500-square-meter Oasen shopping center, which it also owns.

UK and Ireland

* Green REIT Plc exchanged contracts to acquire approximately 164 acres of land near its existing holding at Horizon Logistics Park at Dublin Airport, for about €12.3 million. The company also signed a lease with an international business services provider for approximately 2,973 square meters of space at its newly developed office building at 32 Molesworth Street in Dublin.

* Kennedy Wilson Europe Real Estate completed the acquisition of two distribution warehouses at the Orion Business Park in Ipswich for £11.6 million, reflecting a yield on cost of 8.1%.

* Primary Health Properties Plc bought a standing let investment property in Macclesfield for £10.1 million. The New Alderley House comprises 3,200 square meters of space that is being fully let to East Cheshire NHS Trust and NHS Property Services for a remaining term of 16 years.

* Highcroft Investments Plc unit Rodenhurst Estates Ltd. agreed to sell its freehold interest in the High Street property in Staines to private investors for approximately £2.3 million. The property comprises three retail units with offices and storage on the first level. Highcroft plans to use the sale proceeds to continue investing in larger assets in southern England.

Ukraine

* Secure Property Development & Investment Plc gained the approval of the Ukrainian Antimonopoly Commission for the company's proposed US$16 million sale of the Terminal Brovary logistics park in Kiev to Temania Enterprises Ltd.

Denmark

* TK Development A/S said it sold a 4,900-square-meter residential project that it developed and built on a 34,000-square-meter land parcel at Østre Havn in Aalborg. The buyer is a private investor who will also handle the leasing of the project, which consists of 57 rental apartments, a 500-square-meter basement and 57 parking spaces.

Germany

* Aedifica SA acquired the Residenz Zehlendorf seniors housing site in Berlin, which contains 145 units, for a contractual value of about €8 million.

* PATRIZIA Immobilien AG acquired a modern 204-room hotel property in Würzburg that has a total letting space of more than 11,000 square meters. Würzburg Estates sold the hotel for an undisclosed sum.

Poland

* Rockcastle Global Real Estate concluded an initial deal to acquire the Galeria Warminska shopping center in Olsztyn from Galeria Warminska Spólka z Ograniczona Odpowiedzialnoscia Spólka Komandytowa. The retail center has 150 stores spread over a gross lettable area of 42,711 square meters.

Other geographies

* Texton Property Fund Ltd. divested four noncore properties in South Africa for a combined price of 141.2 million South African rand. The properties span an aggregate gross lettable area of 29,096 square meters.

The company also added that it completed the acquisition of the Heapham Road and Mowbray House assets in the U.K. for about 279.4 million rand in cash.

Additional coverage

British Land, GIC mull adding mall at London's Broadgate: The two companies plan to seek tenants beyond the financial services sector by considering a shopping mall development at the Broadgate office complex in London, Bloomberg News reported, citing two people familiar with their thinking.

Axiare Patrimonio makes its largest property acquisition of the year: The company bought the Calle Almagro 9 property in Madrid, Spain, for €124.0 million.

Hibernia REIT takes full control of Windmill Lane project in Dublin: Hibernia REIT bought out the interest of Starwood Capital Group in their 50/50 joint venture, Windmill Lane Partnership, for €27.5 million.

Citic Capital to advance global property expansion: Stanley Ching, Citic Capital head of real estate, said Chinese companies looking to diversify in offshore markets such as Japan, Britain and the U.S. will continue to be "a sign of the times," the South China Morning Post reported.

Dalian Wanda, Immochan's €3.1B EuropaCity in Paris may undergo changes: The retail and leisure project will require modifications to its components to resolve concerns among politicians and locals in Paris, Property Investor Europe reported.

Unibail-Rodamco, Nexity to develop mixed-use project in France : The project is expected to break ground in January 2017, Europe Real Estate reported.

IMMOFINANZ steps up strategic divestments with retail portfolio sale in Austria: CEO Oliver Schumy said the sale builds on the company's retail portfolio optimization to concentrate on its core businesses.