All Real Assets articles in Web Issue – Page 117
-
PropertyEU Archive
BGP Urban to develop Birmingham £100m scheme
Birmingham city centre will be home to a £100 mln mixed-use scheme comprising shops, 14,000 m[sup]2[/sup] of Grade-A offices, a four-star hotel and a residential tower to be developed on a 1.25-acre site at Birmingham's Five Ways. Developer BPG Urban has announced it is planning to develop the scheme through ...
-
PropertyEU Archive
Hypo RE posts net income EUR 183m, raises its forecast for 2007
Hypo RE said it posted a net income before taxes of about EUR 183 mln in the second quarter of 2007. The group added that this result is mainly due to the exceptionally high new business of EUR 10 bn in this period, which is reflected in considerably higher net ...
-
PropertyEU Archive
Ukraine's rental rates saw 50% increase in 2006
With the Ukraine economy continuing to grow, demand for office space in the country is set to increase from the current level of 790,000 m2, German real estate consulting company NAI Apollo said. Occupancy rates stands at an average of 97% in the country, while rental rates are rising some ...
-
PropertyEU Archive
Europe biggest loser in 2007, says Global Property Research
European listed property stocks suffered major losses last month, according to the latest market update issued by Global Property Research. The GPR 250 Europe Index' total return performance was clearly negative at -9.1%. For the first half of 2007, the performance was even lower at -10.6%, making Europe the worst ...
-
PropertyEU Archive
Eurohypo funds Bank of Ireland's £209m retail purchase
Eurohypo, Europe's largest commercial real estate bank, has funded the Bank of Ireland Private Banking's £209 mln (EUR 308 mln) acquisition of a 50% stake in New Mersey Retail Park in Liverpool, England. This is the seventh-largest retail park in the UK, and includes over 44,000 m[sup]2[/sup] of commercial space ...
-
PropertyEU Archive
Castellum buys into commercial property for EUR 26m
Castellum, through several wholly-owned subsidiaries, has acquired 13 commercial properties in Sweden for SEK 241 mln (EUR 26 mln). Additionally, the company said it has sold three commercial properties for SEK 36 mln (EUR 4 mln) and decided on new construction and refurbishments for a total of SEK 134 mln ...
-
PropertyEU Archive
FDL invests EUR 360m in residential assets
Fonciere Developpement Logements (FDL) is acquiring two portfolios with more than 1,000 residential units from Generali and Fonciere des Regions for a total of EUR 314 mln, excluding taxes. Additionally, the company said that it has agreed on four development projects for an additional EUR 47 mln.
-
PropertyEU Archive
CBRE advises on Inbev's EUR 419m Immobrew sale
CB Richard Ellis Belgium acted as adviser for Inbev on the sale of 90% of Immobrew to Cofinimmo for a total amount of EUR 419 mln. Immobrew owns a portfolio of 824 pubs and some residential sites in Belgium and 245 pubs and some residential real estate in the Netherlands. ...
-
PropertyEU Archive
Renta Corporacion spends EUR 60m on Barcelona's HQ
Spain's Renta Corporacion is to invest EUR 60 mln on the purchase and refurbishment of an office property in Barcelona that will be home to the property company's head office. This six-storey building, which includes commercial areas on the ground floor, is being sold by insurance company Mapfre.
-
PropertyEU Archive
Aldi set to enter the Czech Republic
German discount food retailer Aldi Sud is planning to enter the Czech Republic's retail market shortly. The company's activities in the country will be carried out by its Austrian subsidiary Hofer, which is already developing several outlets at the Austrian border with the Czech Republic. The company will be headquartered ...
-
PropertyEU Archive
LST takes over Amec's project investment business
Land Securities said on Thursday that its subsidiary Land Securities Trillium has agreed to buy Amec's project investments business for £163.5 mln in cash. The purchase involves Amec's stakes in nine signed Private Finance Initiative projects, one preferred bidder project and the PFI/PPP bidding and asset management team.
-
PropertyEU Archive
Keltic to develop Baltic's largest corporate park
Keltic Global Estonia is developing the Baltic region's largest corporate park, NordShore, for a total investment of EUR 350 mln. The park, on a 78-hectare site, is located next to the largest port in Estonia, Muuga Harbour, and will include plot sizes varying from 5,000 m[sup]2[/sup] - 20,000 m[sup]2[/sup]. The ...
-
PropertyEU Archive
Inbisa buys stake in Barcelona mixed-use complex
Spain's property company Inbisa has acquired from entrepreneur Valentin Bascunana and the Patron capital fund a major stake in Barcelona 2, a mixed-use office and retail complex in Barcelona's city centre, for EUR 33 mln. The transaction is being financed with a loan provided by BBVA, Spanish newspaper Cinco Dias ...
-
PropertyEU Archive
Merrill Lynch raises bid for Berenice
Merrill Lynch-owned fund Galante has raised its offer for the Italian office fund Berenice from EUR 760 to EUR 770 per unit, representing an overall outlay of EUR 437 mln. The offer surpasses the rival bid made by Goldman Sachs on Wednesday at EUR 762 per unit. The offer is ...
-
PropertyEU Archive
North RE fund to develop Ukrainian mall
ACMH-managed North Real Estate Opportunities Fund has bought a 185,000 m[sup]2[/sup] site in the Ukrainian city of Odessa for the development of the 100,000 m[sup]2[/sup] Riviera Shopping City, the city's first internationally anchor-tenanted destination shopping centre.
-
PropertyEU Archive
Abramovich makes offer for 15% of FCC
Russian billionaire Roman Abramovich has made an offer to buy Colonial's 15% stake in Spanish construction company Fomentos de Construcciones y Contrates (FCC), according to news website elConfidentail.com. Abramovich, owner of the British football club Chelsea, is believed to be offering more than the EUR 78 per share, ...
-
PropertyEU Archive
Norwegian Property makes EUR 220m acquisition
Norwegian Property has acquired four office and retail properties at Oslo's Aker Brygge area from DnB NOR Bank for NOK 1.74 bn (EUR 220 mln). The fully-let properties consist of about 31,736 m[sup]2[/sup] of office, retail and restaurant premises. The net rental income is about NOK 77 mln per annum. ...
-
PropertyEU Archive
Derwent sells 3 properties for EUR 258m
Derwent London has sold three non-core properties for £175 million (EUR 258 mln). The disposals are the first made by the Central London office specialist since its conversion to tax-efficient real estate investment trust (REIT) status on 1 July. The properties were acquired through Derwent Valley's merger with London ...
-
PropertyEU Archive
London's office vacancy rates hit 5-year low
Office vacancy rates in London's West End and City of London districts are now at their lowest level for at least five years, according to global real estate adviser Cushman & Wakefield. Vacancy rates in the West End stand at 4.1% and in the City of London at 6.2%. The ...
-
PropertyEU Archive
Aaim active in Germany and Czech Republic
Active Asset Investment Management (AAIM) is reportedly entering Germany with the purchase of retail park near Dresden for EUR 40 mln. The transaction reflects an initial yield of 6.5%, magazine Property Week reported. The celebrity-backed private investor syndicate is also buying a shopping mall in Olomouc, the Czech Republic for ...
