All Real Assets articles in Web Issue – Page 101
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PropertyEU Archive
Hypo RE provides financing for Franklin tower
Hypo Real Estate Bank International is providing the financing for the acquisition of the Tour Franklin development by the Carlyle group for EUR 95 mln. Located in Hauts-de-Seine, in de Ile-de-France region in Paris, the tower is currently being redeveloped by Meunier Groupe.
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PropertyEU Archive
AMB leases 18,000 m[sup]2[/sup] shed space in Hamburg
AMB Property Germany has leased nearly 90% of its recently developed logistics facility next to the Altenwerder terminal in Hamburg port. Logistics company B2B International Network has signed a lease for 10,300 m[sup]2[/sup] of distribution and office space, while shipping firm Unisped is to add another 8,000 m[sup]2[/sup] of floor ...
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PropertyEU Archive
ING Real Estate launches EUR 1.2 bn fund
ING Real Estate Investment Management has announced the launch and closing of its first value-added fund in Continental Europe. The ING Real Estate Iberian Value Added Fund is an unlisted closed-end investment vehicle with a target portfolio of EUR 1.2 bn. Initially, ING REIM set out to raise EUR 250 ...
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PropertyEU Archive
Quinlan Private pulls off EUR 1.2 bn hotel coup
Quinlan Private has beaten off heavy competition to acquire the Jurys Inn hotel chain for almost EUR 1.2 bn. This is the second major hotel acquisition by Irish entrepreneur Derek Quinlan's real estate and investment advisory group in recent months. Back in April, a group of investors led by Quinlan ...
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PropertyEU Archive
Grainger 1H net slumps 66% year-on-year
UK residential property owner Grainger said net profit for the six months to end-march fell by 66%, blaming the fall on the non-recurrence of gains booked in the year-earlier period. Net profit came in at £ 8.7 mln (EUR 12.84 mln), or 6.67 pence per share, from £25.8 mln, or ...
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PropertyEU Archive
Moscow office space to expand by 1 mln m2
Moscow's office supply is set to expand by one million m[sup]2[/sup] in the course of 2007, bringing total available space to 7.5 million m2, according to researchers at CB Richard Ellis/Noble Gibbons. Demand for office space in the Russian capital remains strong, with new lettings reaching 480,000 m[sup]2[/sup] in the ...
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PropertyEU Archive
Ablon prepares EUR 140m scheme in Bucharest
Ablon Group, the real estate developer operating in Central and Eastern Europe, expects a new apartment and office development in Bucharest will generate total revenues of between EUR 120-140 mln. Having completed the acquisition of a 33,600 m[sup]2[/sup] plot of land in the Pipera district of the Romanian capital for ...
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PropertyEU Archive
Fondo Beta sells Rome portfolio for EUR 17m
Fondo Beta Immobiliare, an investment fund managed by Italy's Fimit, has sold a portfolio of three assets in Rome for EUR 17 mln. The properties are located at 37 and 41 Via Rasella, and 21-31 Via Tovaglieri. Fimit told PropertyEU that the two residential assets on Via Rasella are vacant ...
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PropertyEU Archive
TNT to develop new offices to cut CO2 emissions
Dutch mail and express delivery firm TNT is to reduce its office floor space in the Netherlands from 150,000 m[sup]2[/sup] to 100,000 m[sup]2[/sup] and move to new custom-built premises to meet its target of making its offices totally CO2 emission-free over seven years. The announcement was made by TNT's real ...
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PropertyEU Archive
Ciref purchases 4 German supermarkets for EUR 21 mln
Ciref's subsidiary Ciref Berlin 1 has bought a property portfolio that includes four supermarkets in Germany for EUR 21 mln. The deal reflects a net initial yield of 7.6%. The properties are located in residential areas in the cities of Aachen, Bunde and Uelzen, northern Germany.
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PropertyEU Archive
Eurosic unveils EUR 290m rights issue
Paris-listed real estate investment trust Eurosic plans to raise up to EUR 290 mln by issuing 5.3 million new shares at EUR 53.8 each. The capital increase is being carried out from 11 to 22 June through the free provision of warrants to existing shareholders. The amount raised may increase ...
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PropertyEU Archive
GPT acquires remaining 50% in Halverton
Australian investment trust GPT Group has agreed to pay A$94 mln (EUR 70 mln) for the 50% it did not already own in UK peer Halverton Real Estate Investment Management. GPT already holds 50% of Halverton through a joint venture with Australian bank Babcock & Brown. Halverton has almost EUR ...
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PropertyEU Archive
JER Partner's European property fund raises EUR 810m
JER Partners has raised EUR 809 mln for its JER Europe Fund III, which will seek property investments across all sectors. The fund is expected to have a total value, plus leverage, of up to EUR 4 bn. 'A fund of over EUR 800 mln with a current portfolio ...
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PropertyEU Archive
Dutch fair appeals to international audience
Like a host of other real estate fairs in countries around Europe, the Provada in Amsterdam is making increasing efforts to attract a foreign audience. Visitors from at least 11 countries are expected to attend the three-day event that opened in the RAI conference centre in the Dutch capital on ...
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PropertyEU Archive
Pirelli, Morgan Stanley get go-ahead for funds' bid
Gamma RE, a joint venture between Italian giant Pirelli Real Estate and Morgan Stanley, has received authorisation from Italian stock market regulator Consob for the publication of documents relating to public tender offers for the Tecla and Berenice funds. Both are closed-ended office real estate funds listed on the MTF ...
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PropertyEU Archive
Schroder buys into logistics property in Fiumicino
UK-based property management company Schroder is acquiring a 65,000 m[sup]2[/sup] logistics centre in Fiumicino, near Rome's international airport. The complex is part of a 400,000 m[sup]2[/sup] logistics park being developed by the Interporto di Fiumicino company. The investment value comes to EUR 50 mln, with an initial yield of about ...
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PropertyEU Archive
Peel files second Salford racecourse plan
UK property developer Peel has filed a second planning application with Salford city council for its £100 mln Salford Forest Park racecourse development. The company is planning to build an equestrian centre, an all-weather racetrack and a 6,000 seat grandstand on the 1,690 acre (6.8 million m2) former estate site. ...
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PropertyEU Archive
Yatra invests EUR 30m in Indian real estate
Euronext-listed Yatra Capital has invested some EUR 30 mln in four real estate projects in India. Through its subsidiary K2 Property, Yatra acquired 100% of Eredene Mauritius for EUR 18 mln from Eredene Capital. The balance of the investment is committed to the development of Eredene Mauritius' portfolio.
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PropertyEU Archive
Irish bank acquires EUR 310m stake in Liverpool shopping park
Bank of Ireland Private Banking has acquired a 50% interest in Liverpool's New Mersey Shopping Park from Hercules Unit Trust (HUT) for £209 mln (EUR 310 mln). The shopping park has 45,000 m[sup]2[/sup] of space and is the seventh largest facility of its kind in the UK. HUT is a ...
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PropertyEU Archive
Michael Evans hits jackpot with EUR 340m bank HQ sale
Michael Evans has once again proved he has a real knack for the big deals - only this time he has cashed in on a sale rather than scooping his competitors to secure a trophy building. His private investment bank Evans Randall has made a staggering £46 mln (almost EUR ...
