All Real Assets articles in Web Issue – Page 100
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PropertyEU Archive
Property share sales hit by 'investor apathy'
Three property share issues have been hit this week in the face of investor apathy. Spanish developer Reyal Urbis has decided to call off a share sale planned for end-June because of unfavourable market conditions. 'At the moment, the market doesn't discriminate in an adequate fashion between the different segments, ...
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PropertyEU Archive
Orco's Avenue Gardens win Best Developer Award
Orco Property Group has received the Best Developer Award in the residential category for the Avenue Gardens project during the CEPIF (Central Europe Property & Investment Fair) Gala Party which took place in Warsaw, Poland.
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PropertyEU Archive
Pirelli RE hints at German company buy
Pirelli Real Estate, Italy's largest property manager, is in talks to buy an unnamed German company to increase its managed assets outside its home market. Ceo Carlo Puri Negri said on Thursday at a conference in Milan that the target is 'slightly bigger' than Deutsche Grundvermoegen (DGAG), which Pirelli ...
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PropertyEU Archive
NH Hotels buys hotel project in Rotterdam
Dutch developers Bouwfonds and OVG have agreed the sale to NH Hotels of a four-star hotel to be developed in the Wilhelminapier central area of Rotterdam. The hotel will be part of De Rotterdam project, which has been designed by architect Rem Koolhaas of OMA Architecten. The hotel will comprise ...
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PropertyEU Archive
DevSecs files plan for Hammersmith scheme
UK property firm Development Securities has filed a planning application for a mixed-use scheme at Hammersmith Grove in west London. The plans include the development of 340,000 sq ft (103,000 m2) of offices, a 20,000 sq ft multi-screen cinema and 15,000 sq ft of restaurants and retail property.
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PropertyEU Archive
Macquarie looks to Europe's fringe for highest logistics returns
Macquarie Goodman, the Australian logistics property group, expects the Netherlands, Ireland, Spain and Finland to yield the highest returns for the logistics sector this year. The returns in these four countries will be above 10% for 2007, 2% more than the rest of Eurozone, according to research by Arlington Securities, ...
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PropertyEU Archive
HSH Nordbank finances Lubeck mall purchase
HSH Nordbank, the Hamburg-based bank focused on transportation and real estate, is providing a EUR 32 mln loan to German retail property company GWB Immobilien for the acquisition of the Konigspassage shopping centre in the northern German city of Lubeck. The 15,000 m[sup]2[/sup] shopping centre was opened in 1994 and ...
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PropertyEU Archive
Vector scraps IPO on lack of interest
UK's Vector Hospitality has called off its proposed £1.8 bn (EUR 2.65 bn) flotation, citing weak investor demand. Vector said late Wednesday that 'as a result of market conditions, its offer of ordinary shares has been postponed.' The company did not give an indication of when IPO will go ahead.
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PropertyEU Archive
Pirelli RE sells Rome asset for EUR 110m
Pirelli Real Estate said that its Olinda Fondo Shops has sold a retail asset in Rome for EUR 110 mln. The property, located in Rome's central shopping area at Via del Corso, was bought by an unnamed private investor. Pirelli said the transaction generated a book gain of EUR 33 ...
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PropertyEU Archive
Rankvale spends EUR 142m on Geman shopping centres
Rankvale European Property Partners (REPP), the real estate investment arm of London-based Rankvale Holdings, has acquired the Seidnitz Centre in Dresden through the acquisition of shares in a limited partnership for EUR 95 mln. The acquisition, representing an initial yield of 6.8% per annum, is the third and largest ...
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PropertyEU Archive
Trigranit poised to invest EUR 5 bn in Russia
Hungarian developer Trigranit is planning to invest some EUR 5 bn to buy companies and develop real estate in Russia. The Budapest-based company bought a medium-sized Russian firm last week and aims to acquire as many as nine more, chairman Sandor Demjan said in an interview to Bloomberg on Thursday. ...
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PropertyEU Archive
Citycon acquires mall in Tallinn
Citycon has acquired Magistral shopping centre in the Mustamae district of Tallinn, Estonia, for about EUR 17 mln. The fully-leased mall, completed in 2000, has a gross lettable area of 9,450 m[sup]2[/sup]. The company said that the shopping centre provides significant opportunities for development and extension. Citycon also agreed to ...
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PropertyEU Archive
Astroc recovers after sharp fall
Astroc Mediterraneo, the Spanish real estate company, recovered some ground on Friday after falling to its lowest level in a year the previous day. The share price gained almost 4% to close at EUR 11.21 after falling 14% on Thursday to EUR 10.80. Astroc has seen its shares lose over ...
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PropertyEU Archive
Reyal Urbis buys Lisbon's Silva Amado asset
Spain's Reyal Urbis has acquired a 50% stake in the historic Silva Amado building in Lisbon for EUR 20 mln. The 18th century property provides some 9,000 m[sup]2[/sup] of gross space that will be converted into a 55-room, five-star hotel, Reyal said. The Spanish company already owns 50% of ...
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PropertyEU Archive
Italy's REIT legislation gets final approval
Italy's state council has given the green light to legislation favouring the introduction of real estate investment trusts (REITs), known as SIIQs. The decree, introduced as part of the Italian budget law for 2006, was backed by the deputy economics minister Vincenzo Visco last month, but awaits final approval from ...
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PropertyEU Archive
Morgan Stanley predicts property will outperform other assets
Returns from real estate will probably outperform other assets in the next few years, John Carrafiell, global co-head of Morgan Stanley Real Estate Investing, the biggest property investor among Wall Street banks, has told a private equity conference in London. Demand for real estate investment has been aided by lower ...
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PropertyEU Archive
Russia, Turkey lead European retail development boom
'We are in the middle of the largest development boom Europe has ever seen in terms of shopping centres,' Neville Moss, head of European retail research at Jones Lang LaSalle, has said during the PropertyNL Retail Forum in Amsterdam last week.
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PropertyEU Archive
Homburg buys in the Netherlands
Property investment and development company Homburg has acquired a portfolio of three offices in Amstelveen, near Amsterdam from HSBC Trinkhaus & Burkhardt. The company, owned by Dutch-Canadian investor Richard Homburg, said that it paid EUR 39 mln for the acquisition.
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PropertyEU Archive
Chinese eye UK, US property markets
The managing director of Capital and Counties, Ian Hawkworth, told members of the FIABCI (International Real Estate Federation) that Chinese construction companies are eying targets in the UK and US construction sectors. 'Chinese construction companies are the most sophisticated in the world, and they've built more high rise ...
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PropertyEU Archive
Foreign property investors heading eastward
Growing confidence about the economic recovery in European is continuing to draw in foreign property investors into the region, according to the Royal Institution of Chartered Surveyors (RICS) Global Property Survey. But fierce competition for prime assets in the established European centres is increasingly driving cross-boarder investors eastwards - despite ...
