Oct. 16 (Bloomberg) -- The following is a roundup of worldwide real estate deals:

Europe, Africa, Middle East

Dubai World Doubles Loan for MGM, Acquisitions to $5 Billion

Oct. 16 (Bloomberg) -- Dubai World almost doubled bank loans to $5 billion to finance expansion including the acquisition of a stake in casino operator MGM Mirage, two bankers involved in the deal said.

State-run Dubai World increased the one-year loan from an initial $2.7 billion after banks offered to lend about $6 billion, said the bankers, who asked not to be identified because the transaction is private.

JER Partners Acquires U.K. Budget Hotels for 115 Million Pounds

Oct. 16 (Bloomberg) -- JER Partners, the investment arm of J.E. Robert Cos., paid more than 115 million pounds ($234 million) to acquire the English budget hotel chain Morethanhotels Ltd. for its Europe Fund III.

JER, based in McLean, Virginia, bought 11 hotels operating under the Express By Holiday Inn brand licensed by InterContinental Hotels Group Plc, according to an e-mailed statement today.

Asia

ProLogis Plans to Double Investment in Japan, Executives Says

Oct. 16 (Bloomberg) -- ProLogis, the world's biggest publicly traded warehouse developer, plans to double investment in Japan in the next three years, Chief Executive Officer Jeffrey Schwartz said in an interview today.

ProLogis has invested 560 billion yen ($4.8 billion) in Japan since 2001 and owns 86 distribution centers with more than 2.4 million square meters (25.8 million square feet) of floor space, including 17 properties bought this month from Matsushita Electric Industrial Co. for 85 billion yen.

Denver-based ProLogis is developing another 460,000 square meters of space in Japan.

ICICI Venture Seeks $2 Billion in India's Biggest Property Fund

Oct. 16 (Bloomberg) -- ICICI Venture Funds Management Co., a unit of India's most valuable lender, plans to raise about $2 billion for the nation's biggest real estate fund, tapping a market that's estimated to grow fivefold in a decade.

The fund will raise money in India and overseas from next month, Chief Executive Officer Renuka Ramnath said by telephone from Mumbai. The venture unit of ICICI Bank Ltd. will invest in commercial and residential developments and acquire land in India's 12 largest cities, she said.

Americas

IDB, Property & Building Increase Stakes in U.S. Developers

Oct. 16 (Bloomberg) -- IDB Development Corp., an Israeli investment company, and one of its units agreed to increase their stakes in three companies developing residential and commercial properties in Las Vegas.

IDB and Property & Building Corp., the company's real estate unit, will pay $41 million to raise their shareholdings in each company to between 25 percent and 30 percent from about 15 percent, Tel Aviv-based IDB said today in a statement. It didn't name the developers.

Klabin Segall Acquires Brazilian Rival Setin for $54 Million

Oct. 16 (Bloomberg) -- Klabin Segall SA, the Brazilian real estate company that sold shares for the first time in 2006, acquired rival Cia. Setin de Emprendimentos e Participacoes SA for about 98 million reais ($54 million) in stock.

Klabin Segall, based in Sao Paulo, plans to issue 5.46 million shares to pay Setin investors Rubens Alcindo Setin and Antonio Setin, according to a filing to the Brazilian Securities and Exchange Commission. Under the terms of the transaction, Klabin bought 8.3 million voting shares of Setin, adding to the 7.9 million stock it previously held.

Goldman Sachs Partners With Related Cos. on Hudson Yards Bid

Oct. 15 (Bloomberg) -- Goldman Sachs Group Inc. agreed to help finance a bid by Related Cos. for the right to build a new office and residential district on Manhattan's West Side rail yards.

The New York-based investment bank will help underwrite Related's construction atop the 26-acre Hudson Yards, Manhattan's largest undeveloped area, should Related win a competition to develop the area, Andrea Raphael, a Goldman spokeswoman, said in an interview. The news was reported earlier by the New York Times.

Construtora Tenda Raises $335 Million in Initial Public Offering

Oct. 15 (Bloomberg) -- Construtora Tenda SA, a Brazilian homebuilder, raised 603 million reais ($332 million) by selling voting shares in an initial public offering.

Tenda, based in Sao Paulo, sold 67 million voting shares for 9 reais each, at the bottom of the price range, the company said in a statement published in Valor Economico newspaper today. The shares will start trading as early as today in Sao Paulo.

Walgreen Signs 20-Year Times Square Lease, New York Post Says

Oct. 15 (Bloomberg) -- Walgreen Co., the U.S. drugstore chain, signed a 20-year lease for New York's 1 Times Square, the tower where a Waterford crystal ball descends each New Year's Eve in the countdown to midnight, the New York Post reported, citing a company spokeswoman and unidentified people.

The Walgreen spokeswoman confirmed the agreement, without providing details, the newspaper said.

Last Updated: October 16, 2007 07:17 EDT