Cheesegrater on the block
British Land is preparing to sell its 50% stake in the Leadenhall Building, EC3, for around £500m.
The skyscraper, which is jointly owned with Oxford Properties, has recently become fully let, achieving a record-breaking City rent of more than £100 per sq ft.
HFF buys Leon Partners
Pennsylvania-based property adviser HFF will target clients of scale for its UK venture, after entering into a deal to buy independent advisory firm Leon Partners.
Founders David Church and Raj Somchand will join HFF with four associates in early 2017.
A raft of new additions to the team is to be announced imminently.
HFF has closed more than $450bn (£346bn) of transactions since its foundation in 1998.
Civitas Social Housing to float
Civitas Social Housing is set to become the first REIT focused on social housing to list in London.
The company said it sees an opportunity for a £250m flotation as government grants for social housing are cut. Cenkos Securities and Zeus Capital are acting as joint book runners.
TfL’s Maher forms new company
Transport for London’s former head of operational property, Adrian Maher, has left to form a company focusing on land acquisition and compulsory purchase for regeneration and infrastructure projects.
Aspire Compulsory Purchase, a joint venture with Aspire Development Management, will assist public authorities and developers with complex projects.
£1bn Gaw bond targets Chinese
Gaw Capital Partners and InvestUK have launched an education bond to raise £1bn from Chinese students seeking permanent residence in the UK.
At least half of the money will be invested in high-yield real estate-backed debt, including affordable homes, with the balance held in UK government bonds.
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