All Real Assets articles in Web Issue – Page 107
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PropertyEU Archive
ING RE spends EUR 28m on Frankfurt asset
ING European Office Fund has acquired a vacant office property in Frankfurt's central business district from Union Investment Real Estate for EUR 28.5 mln. The building at Mainzer Landstrasse provides 5,500 m[sup]2[/sup] of lettable area and is the third asset in the fund's German portfolio.
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PropertyEU Archive
WestInvest buys EUR 50m development in Stuttgart
WestInvest has bought a project development in Stuttgart for EUR 50 mln. The development, sold by Phoenix Real Estate Development, is expected to provide about 8,900 m[sup]2[/sup] of offices and 600 m[sup]2[/sup] of retail space. The project is earmarked for the open-ended real estate fund WestInvest ImmoValue. Completion of the ...
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PropertyEU Archive
Global real estate investment hits $600bn
Real estate investment transactions worldwide hit a record high of $600 bn (EUR 447 bn) in 2006, according to the new edition of DTZ's annual Money into Property research report. DTZ's research report examines record cross-border capital flows in 2006 and indicates that even more capital is looking to be ...
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PropertyEU Archive
Shurgard Europe pulls plug on EUR 725m IPO
Shurgard Europe has became the fourth European real estate company to shelve an IPO this month. Europe's largest owner of self-storage facilities issued a statement on Friday blaming 'adverse market conditions' for the cancellation.
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PropertyEU Archive
Invesco acquires EUR 95m European portfolio
Invesco Real Estate is acquiring a portfolio of five assets across Europe for a total of EUR 95 mln. The Portefeuille Isar includes properties located in France, Belgium and Spain, which are being sold by German Real IS fund. The French assets are two fully-let warehouses, providing respectively some 15,900 ...
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PropertyEU Archive
AXA REIM acquires office development in The Hague
AXA REIM has agreed to acquire an office development at Monchyplein in The Hague from Dutch company Blauwhoed for EUR 24 mln. The scheme will provide 7,000 m[sup]2[/sup] of lettable area. The Agricultural Economics Research Institute (LEI), part of Wageningen University and Research Centre, is going to lease the majority ...
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PropertyEU Archive
Dolphin Capital becomes largest RE investor on AIM
Dolphin Capital has raised EUR 450 mln through the placing by Goldman Sachs International and Morgan Stanley of 178 million shares at 170 pence each on London Stock Exchange’s Alternative Investment Market (AIM). The British property company said it is now the largest real estate investment company on AIM.
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PropertyEU Archive
MEPs condemn Spain's 'building boom'
Members of the European Parliament (MEPs) have condemned unnecessary residential development schemes in Spain, particularly in Madrid and on the coast. The MEPs said some of these residential projects have 'no relation to the genuine needs of towns and villages,' go against 'environmental sustainability' and have a 'disastrous effect on ...
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PropertyEU Archive
Segro buys into logistics in France
Slough Developments France, a subsidiary of real estate company Segro, has bought a 22,000 m[sup]2[/sup] industrial and logistics building from the Imprimerie Nationale group for an undisclosed amount. The property is located in Bondoufle, northern France. The complex, situated on a 9.5 hectare site, has building rights for an additional ...
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PropertyEU Archive
German cities head knowledge hub ranking
Five German cities rank among the top 15 'knowledge hubs' in Europe, according to a new report by Brussels-based consultancy Ecotec, a subsidiary of the UK group Ecorys. The cities are Cologne, Dusseldorf, Frankfurt, Hamburg and Munich. The other cities included in the ranking are Amsterdam, Barcelona, Copenhagen, Dublin, ...
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PropertyEU Archive
Cofinimmo raises offer for Immo-Croissance
Belgian real estate company Cofinimmo has raised its takeover offer for Luxembourg-based Immo-Croissance from EUR 270.28 to EUR 282.47 per distribution share and from EUR 760.50 to EUR 794.80 per capitalisation share. The offer will run between 26 June and 27 July. Immo-Croissance's board of directors will meet on 25 ...
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PropertyEU Archive
Evans Randall purchases hedge fund's London HQ
Privately-owned investment bank Evans Randall is to forward fund Pace Investments' redevelopment of Riverbank House in the City of London financial district in an off-market deal. The transaction price of £300 mln (EUR 446 mln) reflects a net initial yield of 4.5%.
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PropertyEU Archive
Northern Logistic lists on Oslo exchange
Northern Logistic Property has become the first logistics real estate company in Norway to list on Oslo Stock Exchange. The listing follows the finalisation on 15 June of a private placement of 7 million shares at NOK 56.50 (EUR 7.07) per share.
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PropertyEU Archive
LaSalle snaps up Paris office tower
La Salle Investment Management has purchased the IGH office tower in Paris from LFI Le Viala Sarl. LaSalle is planning to fully refurbish the building in partnership with Meunier Immobilier d’Entreprise and OGIC. The project includes the total restructuring of 11,200 m[sup]2[/sup] of office space, 170 parking spaces and a ...
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PropertyEU Archive
Valad takes over Scarborough in EUR 1.3 bn deal
Australian-listed developer Valad Property Group has said it is to acquire UK's Scarborough from its founder Kevin McCabe, in a transaction worth £865 mln (EUR 1.28 bn). Valad's founder and chairman, Stephen Day, said the purchase represents the 'next step in Valad's stated strategy to establish European and Australasian platforms ...
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PropertyEU Archive
Basildon seeks partner for £1bn project
Basildon District Council in the UK is looking for a development partner for the £1bn (almost EUR 1.5 bn) regeneration of Basildon town centre. In a statement, the council said the work could include up to 3,650 homes, as well as 49,000 m[sup]2[/sup] of retail/leisure space, 53,000 m[sup]2[/sup] of commercial ...
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PropertyEU Archive
Halverton buys Dutch portfolio for EUR 250m
IEF Capital, a joint venture between Bouwfonds Asset Management and the Inflation Exchange Fund (IEF), has agreed to sell a Dutch portfolio of 21 office buildings and 18 industrial complexes to Halverton Real Estate Investment Management for EUR 250 mln. The portfolio provides a total lettable area of 230,000 m2, ...
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PropertyEU Archive
VVF Vacances makes EUR 28m acquisition in France
VVF Vacances, a French company active in the leisure accommodation sector, has acquired six residential buildings and seven shops operated by tourist organisation Primatour for EUR 28 mln. The residential assets include about 500 housing units, located across Cannes, Antibes, and Menton in the Alpes-Maritimes region, as well as in ...
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PropertyEU Archive
Aedes secures EUR 73m loan to fund acquisitions
Italian real estate company Aedes has signed an agreement for a EUR 73 mln medium-term loan. In a statement, Aedes said the loan, which will mature in 36 months, is expected to be repaid in June 2010. The deal was organized by Banca Profilo as lead underwriter.
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PropertyEU Archive
Martifer sets price for IPO at EUR 8 per share
Martifer, the construction unit of Portuguese conglomerate Mota Engil, has set the price for the institutional tranche of its Initial Public Offering (IPO) at EUR 8.00 per share - the higher end of the EUR 6.5-8.0 share range outlined in the first IPO notice. Martifer is offering about 18.75 million ...
