All Real Assets articles in Web Issue – Page 113
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PropertyEU Archive
IVG Immobilien sells Caxton Hall for £73m
IVG Immobilien has completed the sale of the Caxton Hall office building located in central London to Scottish Widows Investment Partnership (SWIP) on behalf of the SWIP Property Trust, for £ 73 mln (about EUR 109 mln). After acquiring Caxton Hall in 2004, IVG Immobilien completed the renovation of the ...
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PropertyEU Archive
Aberdeen's Pan-Nordic fund enters Finland
Aberdeen Property Investors, on behalf of its Pan-Nordic Fund, has acquired a portfolio of five office properties located in Tampere and Jyvaskyla in central Finland for a total of EUR 108 mln. This is the first Finnish purchase made by the Pan-Nordic fund since its launch last autumn. The fund ...
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PropertyEU Archive
Breevast in the running for Inbev pubs
Dutch property company Breevast is in the running to buy the 1000-plus pubs being spun off by Belgian brewer InBev in the Netherlands and Belgium, according to unconfirmed reports in Dutch and Belgian newspapers. Other candidates reportedly include Belgium´s Cofinimmo and two UK-based real estate funds.
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PropertyEU Archive
Plaza Centers to build Romanian mall
Property developer Plaza Centers has acquired a major retail development in the town of Miercurea Ciuc, in Central Romania. Although the acquisition price was not disclosed, Plaza Centers said that the expected investment in the project is EUR 16 mln. The company is planning to develop a 16,000 m[sup]2[/sup] shopping ...
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PropertyEU Archive
CA Immo to launch German REIT next year
Austrian real estate company CA Immo said it is planning to launch one of the first German real estate investment trusts (REITs), in a move aimed at 'capitalising on the opportunities' presented by the German market following the establishment of the REIT regime this year. The new tax-efficient vehicle will ...
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PropertyEU Archive
P&O Estates and Morgan Stanley plan three new skyscrapers for central London
Plans have been announced for a £1 bn (EUR 1.48 bn) scheme featuring three skyscrapers for a site next to Waterloo station in London. P&O Estates and Morgan Stanley, the owners, have submitted an application for two office buildings with retail space at their lower levels and one residential block, ...
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PropertyEU Archive
Colonia increases stake in two German residential property companies
Listed German investment company Colonia Real Estate said this week that it has increased its stake in two residential property companies from 51% to 99.24% by prematurely exercising its call option on BGP Investment's holding in the companies. Together the companies hold 9,857 residential units in Aachen, Freiburg, Hamburg, Kiel, ...
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PropertyEU Archive
Skanska starts developing commercial property in Finland
Skanska said it is launching the development of commercial projects in Finland, for an initial investment of SEK 290 mln (EUR 31.6 mln). In central Helsinki, Skanska is to develop a new office property with 10,000 m[sup]2[/sup] of floor space. The company added that the first leasing contract has already ...
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PropertyEU Archive
Deutsche Wohnen merges with GEHAG Group
German residential property company Deutsche Wohnen reached agreement this week on its merger with Berlin-based Gehag Group. The merger will involve In Deutsche Wohnen taking over an 85% interest in Gehag from two Luxembourg investment companies backed by US private equity company Oaktree Capital Management. Deutsche Wohnen have also announced ...
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PropertyEU Archive
Europe's direct real estate investment hits record EUR 116 bn in H1 2007
Direct real estate investment transactions across Europe reached a record EUR 116 bn in the first half of 2007, a 4% rise year-on-year, according to provisional figures from Jones Lang LaSalle. The flow of capital into real estate continues unabated with strong levels of foreign capital across the region. 'As ...
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PropertyEU Archive
UK H1 property investment over £ 27bn, H2 slowdown predicted
Investments in UK property in the first half of 2007 exceeded £ 27 bn (EUR 40 bn), in line with investment in the year-earlier period, according to figures from Jones Lang LaSalle. JLL’s head of capital markets Julian Stocks said he expects to see a slowdown in investment in the ...
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PropertyEU Archive
Credit Suisse shops in The Netherlands for EUR 125m
Frankfurt-based Credit Suisse, on behalf of its real estate fund CS Property Dynamic, has acquired a mixed office/warehouse portfolio in the Netherlands from Dutch developer Kroon Group, for a total investment of EUR 125 mln.
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PropertyEU Archive
Kungsleden acquires 35 properties in northern Sweden
Listed Swedish property company Kungsleden is acquiring a portfolio of 35 properties located in the northern Swedish cities of Umea, Harnosand, Lulea, Nordmaling and Solleftea from Midnattssolen Fastigheter for a purchase price of SEK 540 mln (EUR 59 mln). The transaction reflects a yield of 7.2%.
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PropertyEU Archive
Westbrook buys Shell-Mex House for £490m
US property investors Westbrook is buying London's Shell-Mex House, an art-deco office building overlooking the Thames river, for about £490 mln (EUR725 mln). The trophy asset in the West End district of London is owned by a consortium including entrepreneurs Robert and Vincent Tchenguiz, David and Simon Reuben, and Jack ...
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PropertyEU Archive
Segro acquires UK industrial property
Segro, formerly known as Slough Estate, said it has agreed with Legal & General Property on the acquisition of the Airlinks Trading Estate, an industrial property near Heathrow airport, for £31 mln (EUR 45 mln). The company added that it is selling to L&G a portfolio of six assets, across ...
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PropertyEU Archive
DTZ confirms Donaldsons' acquisition talks
Real estate adviser DTZ confirmed on Wednesday that it is 'in discussions with regard to the potential acquisition of Donaldsons,' a privately-owned, UK-based property consultancy with particular expertise in the retail and property management sectors. DTZ added that there 'can be no certainty as to whether any transaction will be ...
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PropertyEU Archive
Italian REITs receive market watchdog's approval
Italy's securities market regulator Consob has approved the changes to the Italian stock market that will allow real estate investment companies to be traded in the country from 23 July. Real estate investment trusts, called SIIQs in Italy, will be traded on the Expandi market under the new category Real ...
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PropertyEU Archive
Bank of England raises benchmark interest rates
The Bank of England on Thursday raised its benchmark interest rates for the fifth time in a year from 5.5% to 5.75%. Global real estate adviser Jong Lang LaSalle said that the move was expected, with strong employment growth and unemployment falling, a 3% GDP growth in Q1 and inflation ...
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PropertyEU Archive
Miller Developments enters Bulgaria
Miller Developments is continuing its drive into central and Eastern Europe with the purchase of a retail and leisure development in the Bulgarian Black Sea city of Varna. The company has agreed to buy Mall Varna, a complex with a gross leasable area of 32,000 m2, from local developer Interservice ...
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PropertyEU Archive
Livermore buys into commercial property in Switzerland
Livermore Investments Group said it has acquired Wylerpark, a 34,000 m[sup]2[/sup] commercial freehold property in Switzerland through a sale-and-lease-back deal with the Swiss national railway company, SBB. The transaction value comes to £38 mln (EUR 56 mln). The investment company said it will also develop 39 luxury apartments on the ...
