Top 5 deals Week 47 (details)

Here are the top five deals in terms of investment volume as recorded by PropertyEU for Week 47.

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1) Santander

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2)

Telereal to snap up EUR 1bn RBS portfolio
Date published: 22 November 2007

UK property company Telereal is reportedly on the verge of acquiring real estate worth over EUR 1 bn from the Royal Bank of Scotland. The 200,000 m² portfolio of 63 office and high-street bank properties, including the Queen's bank Coutts, generates an annual rent of more than EUR 65 mln. The sale will provide much-needed cash for RBS to fund its part of the consortium takeover of Dutch bank ABN. Property Week reported on Thursday that Telereal won the bidding against Nick Leslau's Prestbury Group and Moorfield in a process organised by RBS and property advisor Cushman & Wakefield.

Telereal, owned by the Pears family, already provides outsourcing services in relation to EUR 3.3 bn of property assets for UK telecoms giant BT.

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3)

Dynamique buys 19 Bonsai Hotels
Date published: 19 November 2007

Dynamique Hôtels, a hotel investment company founded by CBRE Investors, has acquired a portfolio of 19 Bonsai Hotel sites providing about 1,000 rooms. The financial details were not disclosed. The hotels are located in the French cities of Avignon, Belfort, Caen, Calais, Cergy, Cherbourg, Colmar, Dijon, Martigues, Marseille, Vitrolles, Metz, Nancy, Orléans, Rennes, Saint Brieuc, Saint Emilion, Toulouse, and Vienne. The company was advised on the deal by Christie Co.

After the fund raising scheduled for this month, Dynamique will have an investment capacity of EUR 500 mln. The company, chaired by Jerome Castelnau and led by Gérard Ezavin, said that its portfolio currently comprises 78 hotels. Dynamique plans to get listed and convert to a tax-efficient SIIC vehicle by 2010.

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4)

Fonciere des Murs subsidiary to acquire 6 hotels in Italy for EUR128m
Date published: 23 November 2007

Beni Stabili Hotel, a subsidiary of French property group Fonciere des Murs, said it has committed to the acquisition of 6 hotels in a transaction worth EUR 128 mln. The hotels - one in Rome, one in Turin and two each in Milan and Florence - are currently managed by the Metha group and operated under the Holiday Inn banner. The acquisition will take place over an 18-month period and be carried out through a real estate investment fund recently authorised by the Bank of Italy.

Foncieres des Murs said the Italian hotel portfolio is expected to generate total annual rent of EUR 8 mln under leases with nine-year firm periods. The leases may be renewed once for another nine-year term and the portfolio enjoys a net yield of 6.25%.

Euronext-listed Foncieres des Murs is a SIIC, the French version of a real estate investment trust. The company is a subsidiary of Foncieres des Regions, which earlier this year acquired a controlling stake in Italian proeprty company Beni Stabili.

Beni Stabili Hotels was set up in July to help Foncieres des Murs establish a presence in the Italian hotel sector. At end-2006, Foncieres des Murs owned 196 hotels in France and Belgium, making it one of the largest hotel owners in Europe. Aside from the hotel business Fonciere de Murs also specialises in investments in healthcare and leisure/restaurant sectors.

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5)

Europa Capital shops in Oslo and Birmingham
Date published: 20 November 2007

Europa Capital, acting on behalf of its Europa Fund II, has completed the acquisition of an office building at Olaf Helsets Vei 5 (OH5) in southeast Oslo from Acta, the Oslo municipality pension fund, for NOK 569 mln (EUR 71 mln). OH5 provides 44,000 m² of office, educational, light industrial and healthclub space on a four-hectare site. The property is let to 14 tenants, including Oslo Municipality (education), Norwegian Post, Eniro and Whirlpool and currently produces nearly NOK 45 mln in annual rent.

Additionally, Europa Fund II, in a joint venture with Opus Land, has completed the acquisition of the Saltley business park from Hermes Real Estate for around £58 mln (EUR 80 mln). Saltley Park is a multi-let industrial / distribution facility occupying a key location close to Birmingham city centre. Extending to some 47 acres, the park accommodates over 100,000 m² of industrial / distribution space in 22 buildings. The units range in age from the early 1900's to the 1990's and the 16 tenants - including Anixter, Kuehne & Nagel and The Knight Group - contribute to an annual rent in excess of £4 mln. Cushman & Wakefield acted for Opus Land and King Sturge acted for Hermes Real Estate.

Europa Capital is an independent real estate fund management group operating from offices across Europe. Since 1995, Europa Capital has committed to over 50 transactions totalling about EUR 4.4 bn across 14 European countries. Europa Capital operates two pan-European closed-end real estate funds, which invest across the enlarged European Union countries, Norway and Switzerland.