All Real Assets articles in Web Issue – Page 111
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PropertyEU Archive
Allreal shops in Zurich
German real estate company Allreal is acquiring the Toni-Areal property in the fifth district of Zurich from lender Zürcher Kantonalbank (ZKB) for an undisclosed amount.
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PropertyEU Archive
Bowleven moves to new Edinburgh HQ
Oil company Bowleven has signed a 10-year lease on a new head office on North St Andrew Lane in Edinburgh. The firm has agreed a rent of £ 26 (EUR 39) per square foot for the 6,711 square-foot (673 m2) office space.
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PropertyEU Archive
UPM-Kymmene to build new Helsinki head office
Finnish paper giant UPM-Kymmene is looking for a 3,800 m[sup]2[/sup] plot in central Helsinki for the construction of a new head office, according to Finnish news agency STT. Citing a planning application with the Helsinki city council, STT said UPM is looking to begin construction in 2009, with completion expected ...
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PropertyEU Archive
Metrovacesa's Rivero to leave the company in October
Metrovacesa's chairman Joaquin Rivero said he will leave his post in October, just before the separation process of the Spanish company is completed. The plan to split up Metrovacesa's assets into two separate units, generated by a wish to appease the company's rival core shareholders Rivero and the Sanahuja family, ...
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PropertyEU Archive
Quinlan, Propinvest buy Citigroup's London HQ for £1 bn
Quinlan Private's founder Derek Quinlan and investment company Propinvest are acquiring the European headquarters of Citigroup bank in London for £1 bn (about EUR 1.4 bn). The sale of the 42-storey office skyscraper at Canary Wharf is the second-largest single-property transaction ever seen in the UK. Just three months ago, ...
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PropertyEU Archive
Wichford spends EUR 150m on German offices
UK-listed real estate company Wichford is acquiring a 95% stake in a portfolio of office properties across Berlin, Stuttgart, Cologne and Dresden for EUR 150 mln. The transaction value reflects a yield of just over 5%.
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PropertyEU Archive
ING RE buys into Warsaw offices for EUR 167m
ING Real Estate has purchased two office buildings in Warsaw from Belgian developer Ghelamco Group for EUR 167 mln. The buildings are earmarked for the portfolio of ING Property Fund Central and Eastern Europe, a semi-open ended fund that was launched in December 2006.
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PropertyEU Archive
Sireo acquires Milan office for EUR 41m
Germany's Sireo fund has bought the Q office building in Milanofiori di Assago, in the southern district of Milan, for EUR 41 mln. The six-storey office property is being sold by Polis Fondi, an Italian closed-end investment fund. Redilco's advisory unit GVA Redilco acted for the buyer. This is the ...
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PropertyEU Archive
Fitch to get EUR 431m Canary Wharf HQ
International rating agency Fitch is to consolidate its London staff in a new headquarters at Canary Wharf. Fimalac, the French company that owns 80% of Fitch, signed an agreement with the Canary Wharf Group for the EUR 431 mln development on Friday.
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PropertyEU Archive
UniImmo Deutschland invests EUR 45m in Helsinki business park development
Hamburg-based fund manager Union Investment Real Estate said that its UniImmo Deutschland property fund has invested EUR 45 mln in a business park development in Helsinki. The Duetto Business Park development was acquired from Finland's largest construction company, YIT Construction, and represents Union Investment’s first acquisition in Finland. The ...
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PropertyEU Archive
Immofinanz acquires 6 logistics centres
Austrian property group Immofinanz has expanded its logistics activities with the acquisition of four logistics centres in Germany and two in Switzerland through its Deutsche Lagerhaus subsidiary. Together they provide a total usable floor space of 177,300 m2, increasing the Deutsche Lagerhaus portfolio to 26 properties at 722,800 m[sup]2[/sup]. Immofinanz ...
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PropertyEU Archive
Westfield establishes EUR 783m shopping centre fund in UK
Westfield Group, the Australian retail property investor, has announced it is setting up a £530 mln (EUR 783 mln) wholesale fund to own interests in four Westfield shopping centres in the UK with a gross value of over £2.1 bn (EUR 3.1 bn).
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PropertyEU Archive
Eurocommercial acquires Swedish and French properties
Netherlands-based investment company Eurocommercial Properties (ECP) has acquired two retail properties in Sweden and another in France for a total of EUR 151 mln.The larger of the two Swedish properties, named '421', is ECP's first investment in Gothenburg, and is a newly developed major retail centre with a floor area ...
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PropertyEU Archive
Goodman aims to boost European activities
Australian industrial real estate investor Goodman (formerly known as Macquarie Goodman) plans to boost the European share of its management service income to around 50% from the current 30%. ‘We have grown very fast in the past two years on the back of a strong property market,’ explains the company’s ...
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PropertyEU Archive
IVG to develop additional oil and gas facilities
German real estate investment company IVG Immobilien has secured the rights to develop a further 25 underground oil and gas storage facilities at its site in Etzel near Wilhelmshaven in Northern Germany. IVG currently operates 40 such facilities at the site, which are let to both oil and gas businesses ...
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PropertyEU Archive
MWB appoints Bank of America to resurrect hotel sale
London-based property investment company Marylebone Warwick Balfour (MWB) has appointed Bank of America to sell its Malmaison and Hotel du Vin portfolios following the failure of Vector Hospitality to list on the stock exchange and to acquire the UK hotel assets for £495 mln (EUR 735 mln).
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PropertyEU Archive
Iceland's Stodir makes bid for Keops
Icelandic property company Stodir plans to acquire all the shares in the listed Danish property company, Keops. Providing it is approved by the Danish Financial Supervisory Authority, the offer, valued at DKK 24 (around EUR 3.2) per Keops share, will be presented to all Keops shareholders within the next four ...
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PropertyEU Archive
Liberty International buys into Earls Court and Olympia
Capital & Counties, a wholly owned subsidiary of Liberty International, has agreed to take a 50% stake in EC&O Venues (Earls Court and Olympia Group). The new joint venture will own and manage London's Earls Court and Olympia Exhibition Centres and the Brewery, and the deal values the company at ...
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PropertyEU Archive
Evans Randall swoops on Munich offices
Evans Randall has moved closer to its target of building a EUR 1 bn property portfolio across continental Europe with the completion of the acquisition of the Telekom Center in Munich, Germany for EUR 259 mln. The latest transaction, reflecting a net yield of 4.9%, bring the total invested by ...
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PropertyEU Archive
Multi Development starts 52,000 m[sup]2[/sup] mall in Dresden
Construction started on Tuesday on the Centrum-Galerie mall, a 52,000 m[sup]2[/sup] project being developed by Multi Development's German unit in Dresden. Centrum-Galeire will be the largest shopping centre in the east German city when it opens its doors in September 2009. The Dutch developer said the anchor tenant for the ...
