All Real Assets articles in Web Issue – Page 110
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PropertyEU Archive
London to sell £2 bn of land to repay Olympic games costs
London's mayor Ken Livingstone and culture secretary Tessa Jowell have agreed to sell up to £2 bn (almost EUR 3 bn) of land around the Olympic Park in east London after the 2012 Olympic games in a move aimed at repaying the increasing costs of the event, newspaper Financial Times ...
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PropertyEU Archive
Edinburgh prime office rents set to reach record high in 2008
Property consultancy Jones Lang LaSalle said prime office rents in Edinburgh are set to rise by as much as 7% and reach the record level of £ 31 (EUR 46) per square foot next year, as the supply of grade A office space dries up in the Scottish capital.
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PropertyEU Archive
SFL, Nexity to develop EUR 300m project in Paris
Societe Fonciere Lyonnaise (SFL) and Nexity have won the competition organised by the SEMAPA (Société d'économie mixte d’aménagement de Paris) for the construction of the T8 complex located opposite the François Mitterrand National Library. The investment for the complex is estimated at EUR 300 mln, the company said in a ...
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PropertyEU Archive
IVG says storage facilities will triple profits in 5 years
German property firm IVG said its underground oil and gas storage facilities unit will triple its share of the company's net profit to roughly a third of group profit within the next five years. Speaking at the Reuters Real Estate summit, ceo Wolfhard Leichnitz said the unit currently accounts for ...
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PropertyEU Archive
Fonciere Inea buys in Saint-Etienne at 7.5%
Fonciere Inea has purchased an office development in Saint-Etienne, central-eastern France, for EUR 26 mln. The project will include some 13,654 m[sup]2[/sup] of offices and 260 parking spaces. The transaction value reflects a net yield of 7.5%.
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PropertyEU Archive
Astroc eyes 5-6 smaller firms
Spanish property firm Astroc Mediteranneo said it could acquire five or six smaller firms to simplify its company structure. Speculation about Astroc's financial position earlier this year led to a 70% drop in the company's share price and triggered a massive sell-off of Spanish property shares on fears the Spanish ...
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PropertyEU Archive
Skanska sells Malmo office project, signs EUR 750 mln credit facility
Swedish construction company Skanska said it had sold an ongoing office project in Malmo, Sweden, to the country's largest insurance company Vital Forsikring for an undisclosed sum. The 10,000 m[sup]2[/sup] court of Appeals building is currently under construction and is due for completion in the third quarter of 2008. Skanska ...
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PropertyEU Archive
Cofinimmo may withdraw Immo Croissance bid
Belgian property firm Cofinimmo said it is considering withdrawing its takeover bid for peer Immo Croissance, which owns office properties in Belgium, Germany and Luxembourg. 'We are considering a withdrawal. To say that we will withdraw from the bid is too strong at this point, but we have not decided ...
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PropertyEU Archive
Boultbee purchases first hotel in Estonia
Private property investment company Boultbee has acquired the modern SAS Radisson Hotel in Tallinn city centre for an undisclosed sum. The SAS Radisson offers accommodation and conference facilities located just a ten-minute drive away from Tallinn Airport and the City Harbour. The complex includes 280 rooms and has the capacity ...
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PropertyEU Archive
GTC says Zagreb shopping centre fully let
Polish property developer GTC's Croatian arm said its Avenue Mall shopping centre in Zagreb is now fully leased and will generate EUR 10 mln in annual rental income. The shopping centre is due to open in August of this year. The company said the majority of leases have been signed ...
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PropertyEU Archive
Hammerson sees little sense in UK REITs consolidation
Property firm Hammerson said it sees little sense in consolidation among the UK's real estate investment trusts (REITs). Speaking at the Reuters Real Estate summit in London, ceo John Richards countered widespread speculation on the consolidation among European property companies as share prices continue to fall.
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PropertyEU Archive
Pirelli, Intesa Sanpaolo form facilities joint venture
Italian property firm Pirelli Real Estate said it has formed a joint venture with Italian bank Intesa Sanpaolo to incorporate its European facilities and project management services. Pirelli will hold a controlling stake in the joint venture. Following the partnership agreement, Intesa Sanpaolo has bought from Pirelli RE 49% of ...
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PropertyEU Archive
Dynamique Hotels buys 10 hotels from Promogest
Dynamique Hotels, an investment company founded by CBRE Investors, has acquired 10 Akena hotels from Promogest for an undisclosed amount, French newspaper Business Immo reported. The company, which currently owns a total of 57 hotels, added that it is currently considering acquisitions of other 60 hotel sites, which should allow ...
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PropertyEU Archive
Australia's Multiplex raises EUR 116m for first European fund
The property funds management division of Australia's Multiplex Group said that it had raised A$ 184.45 mln (EUR 116 mln) for its first European real estate fund. The fund's assets are currently all in Germany, although Multiplex Capital had said previously that it would also look for investment opportunities ...
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PropertyEU Archive
Investment in Dutch warehousing up 43% in 2006
Investment in Dutch warehousing properties rose 43% to EUR 948 mln in 2006, a study by property adviser Jones Lang La Salle shows. The 2006 investment volume figure was significantly higher than the EUR 632 mln annual average shown in the 2001-2005 period. The record investment volume was ...
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PropertyEU Archive
The winners of the Bex 2007 awards are
The Bex awards at the Building Exchange Summit in Spain reflected some of the key issues facing the real estate sector today - sustainability, innovation and collaboration. Over 3,600 professionals from the real estate sector globally attended the award ceremony at the Hilton Hotel in Valencia.
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PropertyEU Archive
Italian real estate funds see assets rising to EUR 30 bn in 2007
Italy saw the number of real estate funds increase by 167% in 2006 from 58 to 155, and this figure is seen coming close to the 200 threshold by the end of 2007, according to Mario Breglia, chairman of Italy's independent institute for analysis and research Scenari Immobiliari. Listed retail ...
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PropertyEU Archive
Cepif stays on the ball for Euro 2012
The 2008 edition of the Cepif property and investment fair for the Central and Eastern European region will feature special events to increase its appeal for both residential and commercial developers, and for everyone with an interest in the Euro 2012 football finals, the organisers of Cepif say.
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PropertyEU Archive
Pirelli RE, Deutsche Bank venture buys in Italy for EUR 305m
Pirelli Real Estate said its joint venture with Deutsche Bank-managed RREEF Global Opportunities Fund II is buying a mixed-use portfolio of 29 properties from Italy's pension fund Enpam. The total acquisition value comes to EUR 305 mln. Closing of the transaction is expected to take place this autumn with the ...
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PropertyEU Archive
Banimmo sells 40% of Brouckère Tower
Belgian real estate company Banimmo said it is selling the remaining 40% interest in the Brouckère Tower building to Morgan Stanley Eurozone Office Fund (MSEOF) for an undisclosed amount. MSEOF bought the first 60% share in the building at the end of 2006, when it also agreed on an option ...
