All Real Assets articles in Web Issue – Page 12
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PropertyEU Archive
Sonae Sierra's malls in ICSC finals
Two of Sonae Sierra's shopping and leisure centres, RioSul Shopping in Seixal, and Mediterranean Cosmos in Thessalonica, Greece, have been nominated for the 2007 European Shopping Centre Awards, the company announced on Friday.
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PropertyEU Archive
Russian retail market 'underestimated' - Mapic
The Russian retail market is being seriously underestimated, David O'Hara, general director of DTZ Moscow said during the Russian Breakfast event at Mapic. Many well-known investors are quicker to consider the prospects in the Warsaw, while the Russian capital has the potential to grow to challenge Paris for the retail ...
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PropertyEU Archive
Fonciere Ariane buys 12,000 m[sup]2[/sup] office space
Fonciere Ariane, a subsidiary of GE Real Estate, has acquired a 12,400 m[sup]2[/sup] office project from SCCV Grand Cottignies, part of the group Palm Promotion et Immochan, for EUR 19.1 mln in a sales prior to completion agreement (VEHA). The project comprises six buildings of 2,065 m[sup]2[/sup] each, situated in ...
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PropertyEU Archive
Spanish government to invest EUR 200 mln in housing
The Spanish Government is to invest EUR 200 mln for the development of 5,668 homes, EFE, Spain's national news agency reported. The area of development spans Asturias, Castilla-La Mancha, Galicia, Madrid, Valencia and Ceuta The buildings will be state-subsidized housing, so-called Viviendas de Protección Oficial. The government makes these houses ...
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PropertyEU Archive
ICSC Europe announces 2007 finalists
The shortlist of finalists for the 2007 European Shopping Centre Awards has been announced by the International Council of Shopping Centers Europe (ICSC Europe).
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PropertyEU Archive
Fonciere LFPI acquires EUR 22 mln property in France
Fonciere LFPI, the French real estate company, has acquired a 11,000 m[sup]2[/sup] office building in Sophia-Antipolis, in the Alpes-Maritimes, from the Cargill and LaSalle Investment Management . The development is 90% let to three tenants: the Communauté d'Agglomération de Sophia Antipolis local authority, Accenture and Stéria. The acquisition value ...
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PropertyEU Archive
Hypo provides Niam Nordic with EUR 300 mln funding
Hypo Real Estate Bank International has announced that it has successfully completed a circa SEK 3 bn (EUR 300 mln) senior investment financing to Niam Nordic Investment Fund III (Niam Fund III), for the acquisition of office buildings in Stockholm and in Lund, Sweden from the Norwegian investor ACTA. ...
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PropertyEU Archive
Immochan invests EUR 50 mln in Portuguese mall
Immochan, the real estate subsidiary of Grupo Auchan, intends to invest EUR 50 mln in Alegro Alfragide shopping centre. The project consists of renovating the Jumbo supermarket, opened in 1988. Completion is due for the end of 2007. The project covers an area of 109,000 m[sup]2[/sup] and includes 1,700 parking ...
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PropertyEU Archive
Rodamco sells 70 retail units
Rodamco Europe has announced the divestment of a portfolio of retail units throughout the Netherlands to private investment group Beleggings Fonds Nederland for EUR 41 mln. The amount was above the latest book value, Rodamco said, and the transaction realised a net initial yield of 5.1%.
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PropertyEU Archive
Babcock & Brown and GPT expand joint venture
Babcock & Brown, Australia's investment bank, and GPT Group, the fourth-largest real estate investment trust in Australia, have agreed to invest a further A$800 mln (EUR 478 mln) in their property joint venture to buy more assets and start new investment funds.
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PropertyEU Archive
BAM blames German market for profit slump
BAM Group, one of the largest construction groups in the world, has issued a profit warning due to a 'dramatic drop' in the results of one of its German units. 'Despite the favourable operating results from its other activities, BAM expects that it will be unable to achieve its profit ...
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PropertyEU Archive
Residential exclusion from G-REITs a mistake - Deutsche Bank chief
The German government is making a 'mistake' by deciding to exclude residential housing from legislation to introduce real estate investment trusts (REITs) in 2007, Deutsche Bank ceo Josef Ackermann has said.
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PropertyEU Archive
Blackstone deal 'heralds open season' on listed property funds
The Blackstone Group's acquisition of the Equity Office Properties Trust (EOP) for a record-breaking $36 bn (EUR 28 bn) in the US means that no listed real estate fund is safe from takeover, market watchers have predicted.
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PropertyEU Archive
Lemmens takes stake in Munich shopping centre
The Lemmens Group, the Netherlands-based investor in real estate, has taken a 24% stake in Schrannenhalle, the historic shopping mall in the centre of Munich. Lemmens acquired the stake from a private investor.
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PropertyEU Archive
German funds draw in more money
More money flowed into German real estate funds in October 2006 than in any month since January 2005, according to new figures published by BVI, the association for the German investment fund industry. Real estate funds attracted assets from stock and bond funds for a second straight month, with net ...
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PropertyEU Archive
Raven in St Petersburg warehouse joint venture
Raven Russia, the only UK-listed property company focused entirely on investment in industrial property in Russia, has signed a EUR 20 mln joint venture agreement with Aldama (Overseas) to develop a 32,500 m[sup]2[/sup] logistics and office centre in Russia.
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PropertyEU Archive
UFG Rem acquires Tec Parc for EUR 10.5 mln
UFG Rem, a France-based group, is buying the Tec Parc office and business development in Créteil, France on behalf of its Multihabitation, Multihabitation 2 and Multimobilier SCPI listed property funds.
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PropertyEU Archive
OVG sells Maas Tower to SEB for EUR 150 mln
Dutch real estate company OVG has sold the Maas Tower project in Rotterdam to SEB for EUR 150 mln. The property will become the tallest office tower in the Netherlands. It will comprise 37,500 m[sup]2[/sup] lettable floor area based over 44 floors and will be 165 meters high.
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PropertyEU Archive
Diursa to invest EUR 80 mln near Barcelona
Spain's Diursa has begun construction of the so-called Berlin, Viena and Budapest residential units, including 257 luxury houses, in San Cugat del Vallés near Barcelona. The company will invest EUR 80 mln in the three-phased construction project.
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PropertyEU Archive
IVG sells portfolio for EUR 85 mln to British investor
IVG Immobilien has announced that it has sold 12 commercial properties with total office space of 50,000 m[sup]2[/sup] to British-based CIT Europe for a total of EUR 85 mln. Ten of the properties are located in Dresden and the others are in Berlin-Schönefeld and Dortmund.
