All Real Assets articles in Web Issue – Page 105
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PropertyEU Archive
ICSC launches National Committees across Europe
The International Council of Shopping Centers (ICSC) is launching a series of National Committees across Europe to maximise opportunities for its members within the European countries. The first Committee will be launched in Romania on 3 July, at the Howard Johnson Grand Plaza Hotel in Bucharest while the Baltic ...
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PropertyEU Archive
Whitehall launches counter-bid for Tecla, Berenice funds
Goldman Sachs' Whitehall funds are launching a counter-bid to take over the Tecla and Berenice office funds, which already received an offer from Gamma RE, a joint venture between Pirelli RE and Morgan Stanley. Whitehall is offering EUR 650 for the quotas of each fund, which compares to the EUR ...
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PropertyEU Archive
Uni-invest joins growing list of cancelled property IPOs
Amsterdam-based Uni-invest has become the latest real estate casualty of investor apathy this month by cancelling its IPO hours before it was to list on Euronext.
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PropertyEU Archive
XXI Century Investments to seek listing in Warsaw
The board of Ukrainian developer XXI Century Investments has announced that the company intends to apply to the Warsaw Stock Exchange (WSE) to list its shares in the near future. XXI Century has a portfolio of assets under development including 28 projects, amounting to a Net Asset Value (NAV) of ...
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PropertyEU Archive
Development Securities gets go-ahead in the City
Development Securities has received planning consent from the Corporation of London to redevelop 10 St Bride Street on the western side of the City. The development is being funded by the Luxembourg-based fund, Sireo Immobilienfonds No.4 SICAV.
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PropertyEU Archive
English Heritage unveils new plan to protect Westminster
A new plan to protect London's Westminster area was unveiled on Tuesday by English Heritage, the government's adviser on the historic environment. The new management plan has been created by a steering group chaired by English Heritage and made up of stakeholders including the Government Office for London, the Greater ...
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PropertyEU Archive
HSH Nordbank lowers forecast for G-REIT
German bank HSH Nordbank has significantly lowered its forecast for the tax-friendly real estate investment trust vehicle (G-REIT) which was introduced in Germany this year.
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PropertyEU Archive
Schroders in German residential spree
Schroders' German Residential Fund has bought a further 438 residential units and 44 commercial assets in three separate transactions in Berlin, Hamburg and Munich. The deals bring the fund's investment volume to EUR 250 mln, Immobilien Zeitung reported The acquisiton of a further 2,000 apartments worth EUR 160 mln is ...
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PropertyEU Archive
AMB leases 27,000 m[sup]2[/sup] to General Motors in Paris
Industrial real estate developer AMB Property Corporation has leased some 27,400 m[sup]2[/sup] to General Motors in the AMB Gonesse Distribution Center development project in Paris. The new space will replace GM's current delivery centre and is intended 'to enhance the logistics process of its Opel spare parts operations in France,' ...
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PropertyEU Archive
Degi invests EUR 122 mln in 'Poland's best office property'
The international arm of German property fund Degi is investing EUR 122 mln in the Focus Filtrowa office building in Warsaw in anticipation of rising rental values in the city. Completed in 2000, the 11-floor Focus Filtrowa provides almost 32,000 m[sup]2[/sup] of lettable area in the central business district of ...
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PropertyEU Archive
Beni Stabili completes acquisition of FIP for EUR 181m
Italian property company Beni Stabili has completed the acquisition of the Fondo Immobili Pubblici No. 1 portfolio for a total of EUR 181 mln. The company first announced the deal at the beginning of May. The portfolio, which was put on the market last March, received about 40 bids from ...
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PropertyEU Archive
IVG to launch EUR 2 bn G-REIT in 2008
German listed property company IVG Immobilien is planning to launch a real estate investment trust (REIT) with about EUR 2 bn in commercial real estate next year. Bernd Kottmann, chief financial officer at IVG, said the company would wait until 2008 to launch its own G-REIT. In this way IVG ...
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PropertyEU Archive
BBVA set to plough EUR 700m in new Madrid HQ
Spain's Banco Bilbao Vizcaya Argentaria (BBVA) has acquired a site from property company GMP for the development of a new headquarters on the northern outskirts of Madrid. The lender said that the head office will be located in the Empresarial Foresta business park and will involve a total investment, including ...
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PropertyEU Archive
GIC buys Merrill Lynch's London HQ for EUR 710m
Financial services group Merrill Lynch has sold its European headquarters in the City of London to GIC, the investment arm of the government of Singapore, for £480 mln (EUR 710 mln). Merrill Lynch said it will rent back the property on a 15-year lease. The financial terms of the lease ...
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PropertyEU Archive
Halverton acquires first asset in Finland
Halverton Real Estate Investment Management has entered the Finnish market witht he acquisition of a 3,482 m[sup]2[/sup] renovated office in the port town of Turku for EUR 4.7 mln. This reflects a net initial yield of 9.03%.
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PropertyEU Archive
MWB presses on with hotel sale after IPO debacle
London-based property company Marylebone Warwick Balfour Group (MWB) issued a statement on Wednesday in response to strong criticism from a key shareholder over a delay in the sale of a hotel portfolio for £495 mln (EUR 735 mln) to Vector Hospitality.
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PropertyEU Archive
ING RE announces first closing of its Italian Retail Fund
ING Real Estate has announced the first closing of its ING Real Estate Italian Retail Fund. The fund, an unlisted semi-open ended investment vehicle, has a target size of EUR 1 bn. At first closing the fund has already had commitments for nearly one-third of the target capital, and the ...
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PropertyEU Archive
Construction starts for Prague's Arkady Pankrac mall
Construction started on Wednesday for the new Arkády Pankrác shopping centre being developed in Prague by project partners Rodamco Europe and ECE Projektmanagement. With around 45,000 m[sup]2[/sup] of floor space, the retail complex will house some 140 retail outlets. The development, located in Prague's largest district Pankrác, is expected to ...
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PropertyEU Archive
Miller, Bridgehouse set to build Birmingham's tallest tower
Builder Miller Developments and private equity firm Bridgehouse Capital are planning to develop a 50-storey skyscraper that at its 150 metres would be the tallest scheme in the city of Birmingham. Designed by architect Eric Kunhe, the mixed-use tower will feature a V-shaped roof and will cost about £ 150 ...
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PropertyEU Archive
Meinl EL builds retail centre in Romania
Austria's property company Meinl European Land is developing a retail centre in the West Romanian town of Arad. The complex, which will provide some 60,000 m[sup]2[/sup] of rental space, will involve and investment of EUR 70 mln, Meinl said. The new centre marks the beginning of the company's expansion into ...
