<article>Ho Bee Land and First Sponsor Group are increasing their exposure to European property markets.</article>

Ho Bee Land and First Sponsor Group are increasing their exposure to European property markets.
<h3>Ho Bee Land to acquire London office property</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/ho-bee-land" target="_blank" rel="noopener noreferrer">Ho Bee Land</a> on Tuesday announced it has acquired Emmatown Properties (EPL) for a consideration of £129.3 million (S$228 million) through its subsidiary Stream Field Investments.
The acquisition price reflects a net yield of about 4.1 per cent and brings Ho Bee Land’s asset portfolio in London to six commercial buildings with a total investment value estimated at £645.8 million.
EPL owns a freehold commercial building at 67 Lombard Street and is a prime location, given its proximity to the Bank of England and the Royal Exchange. The property was redeveloped in 2014 and provides 93,640 sq ft of Grade A office space, restaurant, and ancillary accommodation arranged over basement, lower ground, ground, and eight upper floors.
Chua Thian Poh, chairman and CEO of Ho Bee Land, said, “The acquisition is part of the group’s capital re-investment plan to upgrade its portfolio of London investment properties following the group’s divestment of Rose Court in February this year.&#8221;
<h3>First Sponsor Group to acquire Dutch property</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/first-sponsor-group" target="_blank" rel="noopener noreferrer">First Sponsor Group</a> is acquiring the third to ninth floor of the Poortgebouw Hoog Catherijne, in Utrecht, the Netherlands, for a consideration of 26.4 million euros (S$40.8 million). The acquisition is to be funded with the drawdown of First Sponsor’s existing unsecured credit facilities.
First Sponsor and its Dutch subsidiary, NL Amstel Development 16 BV, on Tuesday, entered into the sale and purchase agreement with vendor Hoog Catharijne Mall of the Netherlands BV.
Incorporated in the Netherlands, Hoog Catharijne Mall is a wholly-owned subsidiary of Klépierre SA which is listed on the Euronext Paris and a major player in continental Europe’s retail property market with shopping centres in 57 cities and 16 countries.
Poortgebouw Hoog Catherijne is a newly constructed building with a total lettable floor area of 11,604 sqm and will be developed into two hotel with a total of 320 rooms. The hotels will be operated by Hampton by Hilton and Crowne Plaza or brands of a similar quality, according to First Sponsor.
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Ho Bee Land and First Sponsor Group are incresing their exposure to European property markets.

Singapore Realty: Ho Bee Land, First Sponsor Group hike exposure in Europe

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