All Real Assets articles in Web Issue – Page 116
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PropertyEU Archive
Aberdeen's AIPP completes EUR 624m investment programme
Aberdeen Property Investors has made its fifteenth and final investment for Aberdeen Indirect Property Partners (AIPP), Europe's largest pan-European pooled property fund of funds. The fund, which was the first of its kind in Europe backed by a group of pan-European institutional investors, was launched in February 2005 and has ...
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PropertyEU Archive
DTZ acquire Donaldsons in EUR 72m deal
Real estate advisor DTZ has confirmed the acquisition of UK-based property consultancy Donaldsons. DTZ said that the transaction involves an initial consideration of £39.8 mln, plus a deferred consideration of up to £8.8 mln - totalling £48.6 mln (almost EUR 72 mln). The deal had been variously reported to be ...
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PropertyEU Archive
Raven Russia to develop EUR 82m logistics park in Moscow
Guernsey-based property investment company Raven Russia has said it has agreed to develop a 109,000 m[sup]2[/sup] logistics and distribution complex south of Moscow in a 50-50 joint venture with Russian construction group Stroitelnaya Kompaniya Felix (SKF). The scheme is to be built on a 17.9 hectare site 21km south of ...
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PropertyEU Archive
Todd Mansfield appointed new chair of ULI
Todd Mansfield, chairman and ceo of the US development firm Crosland, has been appointed the new chairman of the Urban Land Institute (ULI). Crosland, headquartered in Charlotte, in the US state of North Carolina, is one of the leading real estate development companies in the southeast of America. As ULI ...
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PropertyEU Archive
Hahn Group begins marketing new retail fund
German retail property group Hahn announced on Tuesday that it has started marketing activities for its new 'Pluswert fund 143'. The fund invests in a portfolio consisting of four hypermarkets and a retail warehouse centre in five German cities. Pluswert fund 143 holds EUR 29 mln in equity, has a ...
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PropertyEU Archive
BRC criticises new UK legislation on vacany tax
The British Retail Consortium (BRC) has called the UK government's consultation on its proposed tax reform bill a 'sham.' It said that 'Gordon Brown is desperately trying to portray his government as business friendly', but at the same time it 'continues to ignore representations from a range of business groups ...
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PropertyEU Archive
'Walkie Talkie' gets go-ahead
UK real estate giant Land Securities has received planning approval from the secretary of state Hazel Blears for its 155-metre tower and adjoining buildings at 20 Fenchurch Street in the City of London. This 39-storey building, christened 'Walkie Talkie' because of its concave shape, entered the spotlight last March when ...
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PropertyEU Archive
Metro Baltic to build EUR 200m project in Riga
Metro Baltic Horizons, the property investment company focusing on office and residential developments in the Baltic State capitals and St Petersburg in Russia, said it has agreed to purchase a 14-hectare site in Riga, Latvia, for an initial amount of EUR 10 mln. Completion of the transaction is expected within ...
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PropertyEU Archive
Berenice to sell five Rome assets for EUR 300m
Pirelli RE's management board said on Wednesday that it has decided to auction off five trophy assets owned by Berenice, the office fund it manages. The company added that the properties will go on the market for a starting price of at least EUR 300 mln.
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PropertyEU Archive
British Land completes EUR 350m Spanish shopping centre buy
UK property firm British Land has completed the purchase of a shopping centre and retail park in the Spanish town of Murcia for EUR 350 mln as part of a joint venture with Pillar Retail Europark Fund (PREF). The deal reflects an initial yield of around 5%, British Land said. ...
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PropertyEU Archive
Corio snaps up Turkish shopping centre for $44m
Dutch property firm Corio has acquired a 20-year lease on the Zirvekent shopping centre in Ankara, Turkey, for around $44 mln (EUR 32 mln). The shopping centre is currently under development and completion is expected in the first half of 2008. Corio said the mall will generate a net yield ...
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PropertyEU Archive
Dublin office take-up rises 55%
Total office take-up in Dublin during the first half of 2007 amounted to over 121,000 m2, a 55% increase on last year's record take-up level, according to CB Richard Ellis's latest Dublin Office Market Bulletin. 'This boom in office letting activity in Dublin, similar to that being experienced in many ...
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PropertyEU Archive
EIB buys stake in Bulgaria's EUR 566m project
Equest Investments Balkans (EIB), an investment company focusing on Southeast Europe, said it has acquired a 33.5% indirect stake in Rila Samokov, owner and developer of a large-scale development project in the Borovets mountain resort area in Bulgaria. The transaction price comes to EUR 30 mln, the company said.
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PropertyEU Archive
Unibail holds 95.74% of Rodamco shares, confirms delisting
The Unibail-Rodamco combine said on Wedensday that it now holds 95.74% of Rodamco's shares after the close of the acceptance period for the public offer on Tuesday. In a joint statement, the two companies said an additional 14,443,054 shares had been tendered, representing a 16.11% stake in Rodamco, and taking ...
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PropertyEU Archive
AFI acquires downtown Moscow project
London-listed property developer AFI Development has agreed to acquire 24,126 m[sup]2[/sup] of built-up land on the Yauza River in the centre of Moscow for $104 mln (EUR 76 mln). The company said it has also agreed to acquire the development rights for an adjoining 2.67-hectare plot for the development of ...
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PropertyEU Archive
Affine launches new commercial unit
French real estate company Affine said it is launching a new investment unit, Capucine Investissements, aimed at city-centre shopping malls throughout the country. Headed by Nino Amor, the new subsidiary will be listed as a SIIC, the French equivalent of a real estate investment trust. The company said that the ...
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PropertyEU Archive
Fabian agrees Bucharest residential contract
AIM-listed Fabian Romania Property Fund announced on Wednesday that its joint venture development company, Phoenix Park, has agreed a fixed-price contract with Mivan Kier for the construction of apartments at the New Town development in the east of Bucharest.
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PropertyEU Archive
Berlin market growth seen levelling off
The real estate market in Berlin is expected to grow further, but at a slower pace than in the past two years, property consultant Winters & Hirsch said on Wednesday. Total turnover is seen rising to over EUR 17 bn in 2007, compared with some EUR 15 bn in ...
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PropertyEU Archive
Delek sells City Plaza office block to CBRE Investors
AIM-listed Delek Global Real Estate has sold its stake in the City Plaza office block in Sheffield, South Yorkshire, England, to CBRE Investors for about £24 mln (EUR 35 mln). Delek Global said it will receive about £3 mln and an additional £1 mln gain creditable against future profits from ...
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PropertyEU Archive
ECB to launch call for Eurotower tenders
The European Central Bank will launch an international call for tenders next August for the development of the real estate complex that will host its head office. The new Eurotower, to be located in the western district of Frankfurt, will house the ECB headquarters from 2012, Italian news agency Ansa ...
