Great Portland Estates Plc : Gpe sells rathbone square, w1 for £435 million and proposes to return profit of £110 million to shareholders . Sale to rathbone place jersey limited, an entity owned by westinvest gesellschaft für investmentfonds mbh and deka immobilien investment gmbh . Sale is expected to crystallise a whole-life capital return for gpe from entire development project of approximately £110.0 million . £110.0 million is proposed to be returned to shareholders by way of a special dividend . Following receipt of majority of sales proceeds, whole life surplus of approximately £110.0 million is proposed to be returned to shareholders . It is anticipated that this will be effected by way of a special dividend, which would be accompanied by a share consolidation .Gpe was advised on sale and proposed capital return by CBRE, GM Real Estate, Nabarro, BofA Merrill lynch, J.P. Morgan Cazenove and Lazard.
Grivalia Properties REIC : Says IFC, member of the World Bank Group, is extending a 50 million euro ($53.40 million) long-term loan to the company . Says loan to enhance business infrastructure and boost energy efficiency in the commercial property sector . Says loan will be used to make refurbishments and energy efficiency improvements in its Greek facilities . Says will introduce IFC's EDGE certificate into Greece .Says buildings with EDGE certification need to consume 20 percent less energy than the local limit.
Dream Office Real Estate Investment Trust : "decided to significantly write-down our alberta assets in q2 of 2016" . "now expect that economic uncertainty and weakness in alberta office sector may be prolonged" . Qtrly ffo per share $0.65 . Q2 FFO per share view c$0.68 -- Thomson Reuters I/B/E/S .Trust recorded fair value loss of $675.3 million and $748.4 million respectively, for three, six months ended june 30.
Kimco Realty Corp Kimco Announces Key Strategic Initiatives To Further Strengthen The Company's Long-Term Financial Outlook : Says plan includes prepaying $428 million of secured and unsecured U.S. Debt due in 2017 . As a result of planned transactions, Kimco expects to realize recurring annualized cost savings of approximately $29 million . Time charges against net income available to common stockholders of about $114 million . One-Time charges are expected to reduce net income and FFO by about $0.27/diluted share,$0.21/diluted share, respectively, in Q3 2016 . Term financial outlook . Says implementation of several strategic initiatives to enhance company's capital structure . Plan includes redeeming two outstanding series of Canadian-dollar-denominated notes totaling cad $350 million due in 2018 and 2020 . Says plan includes merging company's primary taxable REIT subsidiary into Kimco . There will be no impact to ffo as adjusted as a result of these one-time charges . Says plans to merge Kimco Realty Services, Inc. into Kimco . Company expects to incur a prepayment charge of approximately $22 million in Q3 of 2016 . Time non-cash charge against net income and FFO of $66 million and $41 million, respectively, in Q3 of 2016.