All Real Assets articles in Web Issue – Page 109
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PropertyEU Archive
Highest skyscraper in the Netherlands gets go ahead
A Dutch court has rejected the objections raised by the association Kop van Zuid/Noordereiland to the development of the Maas tower in Rotterdam. The court ruled in favour of development company OVG, which was granted building permits by the municipality of Rotterdam for the construction of the skyscraper. At 165 ...
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PropertyEU Archive
AM strengthens position in Dutch commercial real estate
Developer AM Vastgoed has completed the takeover of Dutch peer IPMMC, a specialist in development, consultancy and management of complex projects. Utrecht-based IPMMC Vastgoed has a development portfolio of 550,000 m[sup]2[/sup] of commercial property space. AM has a 640,000 m[sup]2[/sup] development portfolio covering urban renewal, office and retail centre projects. ...
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PropertyEU Archive
Beni Stabili sells commercial portfolio in Northern Italy
Italy's Beni Stabili Gestioni announced on Tuesday that it has completed the sale of a commercial real estate portfolio leased by supermarket chain Unes. The buyer of the portfolio, which was owned through the Invest Real Security fund, was not disclosed. The transaction involves six buildings for commercial use, with ...
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PropertyEU Archive
Whitehall offer for Berenice includes put option in favour of UGI
Whitehall funds' offer for Berenice closed-end office fund comprises a put option on 30% of the fund in favour of Italy's Unione Generale Immobiliare (UGI), a company indirectly owned by Italian entrepreneur Francesco Gaetano Caltagirone. On the other hand, UGI has a call option on the same stake, Italy's Consob, ...
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PropertyEU Archive
JC Flowers to list Euromobiliare Sim
US private equity fund JC Flowers is planning to list Italian broker Euromobiliare Sim once it has acquired 60% of the company along with Italian investment company Mid Industry Capital, newspaper Il Sole 24 Ore reported, citing JC Flowers' managing director Ravi Sinha. 'Our investment horizon is long term, indefinite, ...
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PropertyEU Archive
Tag pays EUR 180m for Siemens portfolio ahead of REIT launch
Tag Gewerbeimmobilien, a member of the listed German property group Tag, has said it has acquired commercial properties in 'high-growth' regions of Germany from Siemens Real Estate for EUR 180 mln. The six buildings with a total of 180,000 m[sup]2[/sup] of mainly office space are located in metropolitan areas of ...
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PropertyEU Archive
Colonial's EUR 2 bn bid for Riofisa gets green light
Spain's bourse regulator CNMV has approved the EUR 2 bn takeover bid launched by Colonial for shopping centre specialist Riofisa. The offer values Riofisa at EUR 44.31 per share, which compares to the price of EUR 43.85 at which Riofisa shares were trading at 2 pm on Wednesday. Colonial´s offer ...
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PropertyEU Archive
Hammerson, Axa sell Paris office building for EUR 335m
Hammerson and Axa REIM France are selling their shares in the joint venture company that developed and owns a 22,000 m[sup]2[/sup] office building at 9 Place Vendôme, Paris for EUR 335 mln. The buyer, SAS Sloane place Vendôme, has signed a conditional agreement with the joint venture partners and paid ...
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PropertyEU Archive
Sagax secures EUR 640m financing from Hypo Real Estate
Listed Swedish property company AB Sagax has secured a SEK 6 bn (EUR 640 mln) senior and acquisition facility from Hypo Real Estate International. The transaction was signed on 27 June.
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PropertyEU Archive
Kungsleden acquires property in Landskrona
Listed Swedish property company Kungsleden has acquired the Bromsregulatorn 1 property in Landskrona, southernmost Sweden. The seller of the property is Swedish private real estate company Fastighets LE Lundberg. The purchase price amounts to SEK 199 mln (EUR 21 mln), reflecting an initial yield of 7.6%. The property has a ...
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PropertyEU Archive
Regulator shoots down Sacyr's all-share offer for Eiffage
Sacyr Vallehermoso faces the prospect of having to make a higher, cash bid for its French peer Eiffage after French bourse regulator AMF ruled that an earlier hostile all-share offer did not comply with French law. Siding with suggestions by Eiffage that the Spanish construction company - which owns a ...
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PropertyEU Archive
Shareholders approve Macquarie Goodman name change
Shareholders of Australian industrial real estate investor Macquarie Goodman have approved a proposal to drop Macquarie from the company name. In future the concern, which is listed on the Australian stock exchange, will be known simply as Goodman, the company announced Wednesday.
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PropertyEU Archive
Banuelos hints at Astroc board's departure
Enrique Banuelos, head of Spanish real estate company Astroc, confirmed on Wednesday that he is considering leaving Astroc's board in the near future, newspaper Cinco Dias reported. The move comes in the wake of the dramatic drop of Astroc's share price since last April. The company's share price was valued ...
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PropertyEU Archive
Dexia, GIMV unveil Benelux infrastructure fund
Dexia Bank Belgium and Antwerp-based investment company GIMV have said they are in the process of launching a new non-listed fund to invest in infrastructure and real estate construction projects, mainly in the Benelux region (Belgium, the Netherlands and Luxembourg). The two partners are each contributing 20% of the financing ...
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PropertyEU Archive
Pirelli RE, Goldman Sachs reach deal on Tecla, Berenice
Gamma RE, the joint venture between Pirelli RE and Morgan Stanley, has reached a deal with Goldman Sachs' Whitehall funds to end a bidding war between the companies to take control of two Italian listed office funds, according to sources close to the situation. Under the unofficial agreement, Gamma will ...
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PropertyEU Archive
King Sturge helps fuel Shell's growth in Poland
Energy giant Shell has retained property consultant King Sturge to acquire sites for petrol filling stations in Poland. As part of its expansion policy, Shell is targeting the country's main cities as well major intercity routes, but also looking to position petrol filling stations next to major shopping centres. The ...
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PropertyEU Archive
Parquesol poised to merge with San Jose
Spanish listed property company Parquesol is planning to merge with construction company San Jose Group, chairman Jacinto Rey announced this week. The merger, which still needs to be approved by shareholders, would create a conglomerate with net sales of around EUR 1.6 bn.
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PropertyEU Archive
Colliers provides first tenant to IO-1 Warsaw office
Real estate consultant Colliers International has represented Arcadis Polska in the lease negotiations for 2,800 m[sup]2[/sup] of office space in the IO-1 building in Warsaw. Arcadis said that the move follows its decision to consolidate all Warsaw operations at one location. The company, which is the IO-1 building's first tenant, ...
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PropertyEU Archive
UK commercial property auctions fall by 26% in Q1
The number of UK commercial properties sold at auction in the first quarter of 2007 was down 26% on sales in the fourth quarter of 2006. According to figures from the UK's Royal Institute of Chartered Surveyors (RICS), demand for commercial properties has dampened due to a sharp rise in ...
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PropertyEU Archive
KanAm shops in Luxembourg with EUR 131m deal
The KanAm grundinvest funds have bought the Atrium Business Park office project in Bertrange, south-western Luxembourg. The development comprises the Emporium building providing some 24,000 m[sup]2[/sup] of office space, and will be extended to include three additional buildings by the end of 2011. The complex will then provide almost 30,000 ...
