All Real Assets articles in Web Issue – Page 104
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PropertyEU Archive
Report casts shadow over Spain's property sector
No less than 75% of Spain's real estate companies may be forced to close their doors in the coming years, according to a study by specialist consultancy RR. Acuña y Asociados. The warning comes amid growing signs that Spain's real estate sector is cooling down. In the first three months ...
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PropertyEU Archive
UBS retail deal sets record low yield
UBS has paid EUR 100 mln for Metromar shopping centre in Seville, its first to date in Spain, Europroperty reported. The deal reflects a yield of 4.5% to 4.75%, a record low for the market. Net yields for prime shopping malls in Spain range between 4.75% and 5%.
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PropertyEU Archive
Prudential sets up first fixed-income property fund
Two of Prudential's fund management arms have launched a fixed-income property fund which Property Week has hailed as the first of its kind for institutional investors. The fund will buy property with fixed or inflation-linked rental uplifts, and aims to deliver a secured long-term income stream through a well-diversified portfolio ...
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PropertyEU Archive
Sale of two Norwegian portfolios in the offing
Norway's largest financial services group DNB NOR is to sell two portfolios worth EUR 600 mln in the country's largest-ever property deal, according to the latest edition of Europroperty. Both portfolios are expected to attract a great deal of interest from both local and international investors.
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PropertyEU Archive
Immoeast invests EUR 63m in 2 Warsaw projects
Austrian listed real estate company Immoeast has expanded further in Poland, with the finalisation of two investments, totalling EUR 63 mln, in business locations in Warsaw.
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PropertyEU Archive
Fabian Romania buys office project for EUR 24m
Fabian Romania Property Fund has agreed to buy the Baneasa Business Center office in the north of Bucharest from Austria's Immoconsult Leasinggesellschaft for EUR 24 mln. The office development is part of the one million m[sup]2[/sup] Banaesa project - one of the largest urban development projects in Europe. The business ...
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PropertyEU Archive
Hypo completes EUR 42m financing for Madrid leisure centre
Hypo Real Estate Bank International has provided a EUR 42 mln senior financing facility and a EUR 3.4 mln VAT refinancing facility for Grupo GMR's 36,000 m[sup]2[/sup] Barrio Art Deco leisure centre in the Spanish capital Madrid. Harin Thaker, ceo Europe of Hypo Real Estate Bank International said: 'We are ...
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PropertyEU Archive
Aberdeen Property to launch Russian fund
Aberdeen Property Investors has said it is finalising plans to launch a Russian direct property fund for institutional investors. 'Many of our institutional clients have expressed an interest in gaining exposure in the Eastern European property markets and want to have a professional partner with local resources,' commented Ubbe Strihagen, ...
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PropertyEU Archive
Rodamco Europe acquires Le Havre shopping centre
Rotterdam-based Rodamco Europe has strengthened its position in the French retail property sector with the acquisition of the Docks Vauban shopping and leisure centre project in the harbour area of Le Havre. Vinci Immobilier and ING Real Estate Development have signed an agreement with Rodamco to sell the project for ...
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PropertyEU Archive
CBRE acquires French residential specialist
Global property advisor CB Richard Ellis has acquired Guy Nepalz Conseil (GNC), a real estate services company in France specialising in residential property. Founded in 1996, Paris-based GNC focuses on the sale of residential properties, as well as the sale of and consultation for land development.
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PropertyEU Archive
JLL forges alliances in Denmark and India
Jones Lang LaSalle Corporate Finance has established a working relationship with Invensure, a firm in Denmark that specialises in advising pension funds and life insurance companies. Michael Weischer, chairman of the Danish Real Estate Club, joins Invensure from PenSam where he was responsible for asset allocation and indirect real estate ...
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PropertyEU Archive
ING takes over major Korean asset manager
Dutch financial group ING has reached agreement with Morgan Stanley and the other stakeholders for the takeover of Korean asset manager Landmark Investment Management. The financial details of the transaction was not disclosed but ING said it will increase the debt/equity ratio of ING Insurance by 65 basis points.
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PropertyEU Archive
Metro Baltic broadens horizons in Latvia and Estonia
Metro Baltic Horizons is acquiring two development properties in Riga, Latvia and Tallinn, Estonia for EUR 28 mln. After these transactions, the company - which is focused on prime commercial and development in the capital of the Baltic States and St Petersburg, Russia - will have invested 65% of the ...
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PropertyEU Archive
Birmingham council to decide on casino development
Birmingham City Council's executive will decide on 25 June whether to approve in principle the development of a large casino, hotel and leisure complex at the New Exhibition Centre in the city. The proposals have been drawn up as a result of Solihull Metropolitan Borough Council being recommended to the ...
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PropertyEU Archive
Canary Wharf moves into the City
Developer Canary Wharf Group, a subsidiary of Songbird Estates, is to embark on its first project outside the Canary Wharf estate. Morgan Stanley Real Estate Fund V and Exemplar Developments, on behalf of Omega Land, have teamed up with the Canary Wharf Group in a joint venture to redevelop the ...
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PropertyEU Archive
Macquarie sells Rome airport stake for EUR 1.2 bn
Macquarie Airports, part of Australia's Macquarie conglomerate, has agreed to sell its holding in Aeroporti di Roma (AdR) to Italy's Gemina for EUR 1.24 bn. Through the deal Gemina is acquiring a 45% stake in Rome's main airport operator, which runs Fiumicino-Leonardo da Vinci and Ciampino airports. The Italian holding ...
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PropertyEU Archive
Realia gets EUR 1.63 bn syndicated loan
Realia Business, the Spanish developer which raised EUR 783 mln in an initial public offering earlier this month, said it has obtained a EUR 1.63 bn syndicated loan to refinance its debt from a banking consortium with core shareholder Caja Madrid and Banco Espanol de Credito directing the financing.
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PropertyEU Archive
Docks Lyonnais shops near Paris for EUR 115m
French SIIC Docks Lyonnais has acquired the Colisée Portefeuille real estate company from Axa for EUR 115 mln. The company owns the Fontenay Carnot office development located in Fontenay-sous-Bois, on the outskirts of Paris. Developed by Meunier, the Fontenay Carnot will provide some 27,200 m[sup]2[/sup] of lettable area. The building, ...
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PropertyEU Archive
CGG reports record transaction volume of EUR 3.5 bn
Commerz Grundbesitz Group (CGG) has reported the highest transaction volume in the company's history, with a total of EUR 3.5 bn in real estate acquisitions and disposals in the 12 months to end-May.
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PropertyEU Archive
Kungsleden acquires eight logistics properties
Kungsleden, the listed Swedish property company, has acquired eight logistic properties in a sale-and-leaseback deal from paper and packaging firm Papyrus for SEK 532 mln (EUR 56 mln). The properties are in Stockholm, Norrköping, Vetlanda and Gothenburg, Sweden and the Danish capital Copenhagen. They provide a total lettable area of ...
