All Real Assets articles in Web Issue – Page 102
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PropertyEU Archive
Amsterdam casino is sold to Irish investors for EUR 63m
Annexum Invest, a Dutch real estate investment boutique, has sold the property that houses Holland Casino in Amsterdam to unnamed Irish investors for EUR 63 mln. The transaction price is around 50% higher than the original asking price. The 10,000 m[sup]2[/sup] Holland Casino Amsterdam is regarded as one of the ...
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PropertyEU Archive
Prupim to invest EUR 90m in French business park
Prudential Property Investment Managers (Prupim) has purchased phase 1 of Le Val Saint Quentin business park in Voisins-le-Bretonneux, France from Belgian developer Codic, on behalf of the M&G European Property Fund. The site of the business park covers 9.5 hectares and has a proposed total built area of 42,000 m[sup]2[/sup] ...
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PropertyEU Archive
HSH Nordbank, Aurelius set up loan platform
German real estate bank HSH Nordbank and Vienna-based asset manager Aurelius Capital Management have established a joint venture, named Aurora Real Estate Partners, to create and manage a portfolio of high-yield real estate loans. The loans will be securitised as commercial real estate collateral debt obligations (CRE CDOs) and placed ...
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PropertyEU Archive
Orco Germany takes control of GSG in Berlin
Listed property company Orco Germany has finalised the acquisition of commercial property owner Gewerbesiedlungs-Gesellschaft (GSG) from IBB-Holding, a unit of Investitionbank Berlin, for EUR 400 mln. GSG is the largest provider of commercial property in the Germany capital, with a portfolio of 800,000 m[sup]2[/sup] of commercial and light industrial space.
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PropertyEU Archive
Shopping centre rent reviews can be a 'lottery'
Rent reviews for shopping centre space can be something of a lottery, Wendela Raas of law firm Lexence Advocaten & Notarissen has told the Provada real estate fair in Amsterdam. As the average rent levels for the last five years are used in the review process, tenants often don't end ...
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PropertyEU Archive
ING Real Estate named developer of the year
ING Real Estate Development has been awarded 'developer of the year' and 'international shopping centre of the year' at the Global RLI Awards 2007 in London. An independent panel of judges selected the winning entries from a shortlist drawn up by retail and leisure industry experts. Menno Maas, ceo of ...
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PropertyEU Archive
Foreign players drive Dutch investment volumes to new record
Some EUR 3.9 bn was invested in Dutch real estate in the first five months of 2007. It is likely that the record investment volume of EUR 8.5 bn in 2006 will at least be equalled by the end of the year, according to property advisor DTZ. Non-Dutch players were ...
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PropertyEU Archive
Irish investors target another EUR 12 bn of commercial property
Irish investors are on target to invest EUR 12 bn in commercial property this year despite the slowing economic conditions in Ireland and lower returns on real estate compared to the last few years. The mid-year Irish Investment Market Bulletin from CB Richard Ellis suggests the demand for property investments ...
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PropertyEU Archive
Hornbach to grow to 30 DIY stores in Netherlands
German DIY chain Hornbach-Baumarkt aims to expand to up to 30 superstores in the Netherlands in the long term, chairman Albrecht Hornbach has said during a presentation at the Provada real estate fair in the Netherlands. The retailer already has nine Dutch stores, one is under development and a new ...
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PropertyEU Archive
Santander plans EUR 4 bn property sell-off to fund ABN bid
Spanish financial giant Banco Santander is to sell property assets worth some EUR 4 bn in a lease-back deal to help finance its part of a consortium bid for Dutch bank ABN Amro. On Wednesday, a spokesperson for the Spanish bank confirmed a report in Spanish newspaper El Pais ...
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PropertyEU Archive
'Do your homework before going abroad' - masterclass hears
Don't be arrogant, respect the local culture and learn a few words of the language - these were just some of the tips for real estate professionals during the Masterclass in International Business at the Provada real estate conference in Amsterdam. The event was organised by PropertyEU in cooperation with ...
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PropertyEU Archive
Rutley makes acquisitions in France, Germany and Netherlands
Rutley European Property has exchanged unconditional contracts for the acquisition of a EUR 163 mln portfolio of commercial real estate assets in Germany, France and the Netherlands. Completion of the transaction, which reflects a gross initial yield of 6.7%, is scheduled on or before October 2007.
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PropertyEU Archive
ING RE: German office market a good bet
Property investors seeking opportunities in Germany should look in particular at the office market in the west of the country. A combination of slightly higher initial yields than the European average, favourable economic prospects and healthy take-up rates makes the region an attractive proposition, according to Bert Kragtwijk, senior managing ...
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PropertyEU Archive
Plaza Centers opens mall in Lublin
The Lublin Plaza shopping and entertainment centre, which is to be bought by French property company Klepierre, has opened to the public, developer Plaza Centers said on Wednesday. The 26,000 m[sup]2[/sup] mall is located in the centre of Lublin, a city of over 350,000 residents in eastern Poland. Lublin ...
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PropertyEU Archive
Donald Trump sets sights on Europe
American property tycoon Donald Trump, whose name has become synonymous in the US with sumptuous, upmarket residential towers, is seeking to propagate his brand name in Europe. 'Come up with a good plan, then I'll come to Europe,' the 61-year-old billionaire told PropertyEU during a recent press trip to the ...
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PropertyEU Archive
Westfield silent on Rodamco speculation
Australia's Westfield Group has declined to comment on media speculation that it is preparing to enter into a bidding war over Rotterdam-based peer Rodamco Europe. Westfield announced on Wednesday it was raising AUD$3 bn in the second largest share placing in Australia's history 'to finance the group's activities and future ...
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PropertyEU Archive
Edinburgh's Commercial Quay complex to get £500,000 facelift
The Commercial Quay port-side complex in Leith, Edinburgh, is set for a £ 500,000 (EUR 750,000) facelift. The 85,000 sq ft (8,000 m2) development, owned by GE Real Estate and Edinburgh-based firm WXV will be upgraded tom provide air-conditioned, open-plan, grade A office space, the companies said.
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PropertyEU Archive
Orco prices placing at EUR 115 per share
Luxembourg-based Orco Property Group intends to raise EUR 150 mln from the private placing of 1.3 million shares with institutional investors at EUR 115 per share to help fund the expansion of portfolio in the central European real estate sector. The net proceeds are expected to come to EUR 142 ...
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PropertyEU Archive
Investors eye Vector's targeted £2.6 bn hotel assets
Private property investors are keen to snap up the £2.6 bn (EUR 3.8 bn) in hotel assets targeted by UK REIT Vector Hospitality before the firm was forced to call off its planned IPO last week, reported The Times, citing Vector director Richard Balfour-Lynn.
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PropertyEU Archive
Icade signals EUR 331m in acquisitions
The board of Icade, the French real estate investment trust (SIIC), has backed the proposed acquisition next month of 66% of the Tour Descartes in La Defense, Paris for EUR 256 mln. The 41-storey Tour Descartes provides 66,000 m[sup]2[/sup] of floor space. It was built in 1985 to accommodate the ...
