Allianz takes stake in PSP-backed U.K. student housing JV: Reuters

European insurer Allianz  has agreed to a joint venture with asset manager Greystar Real Estate Partners and Canada’s Public Sector Pension Investment Board (PSP Investments) to develop U.K. student housing, Reuters reported. Allianz said the equity value of the deal was about US$465.05 million. The deal sees Allianz take a stake in London-focused Chapter alongside existing investors Greystar and PSP Investments. The company aims to double the size of its portfolio to 10,000 student beds within five years.

Activist investor Land & Buildings resumes criticism of HBC: Reuters

Activist investor Land & Buildings this week resumed its criticism of Canadian department store owner Hudson’s Bay Co, urging it to correct its under-performance and extract value from its substantial real estate holdings, Reuters reported. The hedge fund agreed in December to cease public statements about the company until its shareholder meeting on June 12. Now, Land & Buildings founder Jonathan Litt is again pushing HBC to boost its share price, which is below the value of its assets following a run of earnings disappointments, and to monetize its prime property assets.

Australia’s Gateway Lifestyle receives $685 mln bid from Brookfield: Reuters

Canada’s Brookfield Asset Management launched a $685 million (US$515 million) bid for Australian retirement village owner Gateway Lifestyle Group this week, topping an earlier bid from Hometown America Corp and setting up a takeover tussle, Reuters reported. The North American pair are jostling for exposure to Australia’s wealthy and ageing population, as well as a real estate market that has until recently run strongly. Gateway shares hit their highest in a year in anticipation of a battle. Only Brookfield was granted due diligence.