All Real Assets articles in Web Issue – Page 121
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PropertyEU Archive
Hilton completes sale of 8 European hotels to Morgan Stanley
Hilton Hotels Corporation has said that it has completed the sale of eight European hotels to a fund managed by Morgan Stanley Real Estate. They constitute part of a packet of ten hotels that Hilton agreed to sell to Morgan Stanley earlier this year. The sale of the last two ...
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PropertyEU Archive
Broadreach Capital buys 85% of Dolce International
Dolce International, the conference centre and hospitality group owning 26 hotels and conference centres across North America and Europe, said it is to carry out a major recapitalisation aimed at repositioning itself as a pure play management company as well as allowing rapid expansion in the US and Europe.
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PropertyEU Archive
Alrov bids for Covent Garden asset
Tel Aviv-based real estate firm Alrov is reportedly in the running to buy an asset in London's Covent Garden, the Broitis State Gazette reported. The Israeli company, which offered some EUR 58 mln for the building, plans to convert it into a 150-room hotel. Alrov, controlled by chairman Alfred Akirov, ...
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PropertyEU Archive
Equest Balkan purchases properties in Romania and Serbia
Equest Balkan Properties, an Isle of Man registered commercial property investment company focused on South Eastern Europe, has purchased a retail warehouse centre in Romania and a Serbian property portfolio.
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PropertyEU Archive
Beni Stabili teams up with Greenway Costruzioni
Italy's Beni Stabili and Greenway Costruzioni agreed on Wednesday to launch a new joint venture active in real estate development in Northern Italy. The partnership will aim to purchase build-on land and medium-size properties, primarily for commercial use, in Lombardy, Northern Italy. The properties will subsequently be renovated or developed.
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PropertyEU Archive
CIT Group buys office centre in Krakow
UK property company CIT Group has purchased the Euromarket Office Center in Krakow, Poland, from ZEI Fund for a total sum of over EUR 32 mln. ZEI Fund is managed by Invesco Real Estate, which acquired the centre in 2002. The deal marks CIT's first foray into Central and Eastern ...
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PropertyEU Archive
JLL sells Hilton Rabat in Morocco's largest single-asset hotel deal
Jones Lang LaSalle Hotels has sold the Hilton Rabat in Morocco for around $89 mln (EUR 65 mln) to Risma Holdings, the Moroccon affiliate of Accor. The purchase of this five-star, 269-room hotel represents the country's largest ever single hotel deal, JLL said. The property, developed on a nine-hectare-site, includes ...
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PropertyEU Archive
Listed Spanish firms see eight-fold rise in debt
Real estate companies and developers listed on the Spanish stock exchange chalked up a record EUR 111 bn of debt at the end of last year, an eight-fold increase on the EUR 14.43 bn registered in 2001, according to the latest report from the country's stock market regulator CNMV.
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PropertyEU Archive
Magnat purchases 45% stake in Kiev office tower
Magnat Real Estate Opportunities has acquired a 45% stake in an office tower development in Kiev, Ukraine. The total budget for the project, including construction costs, is about $90 mln (EUR 65.2 mln), bringing Magnat’s share of the total investment to about $40 mln (EUR 29 mln).
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PropertyEU Archive
Hypo Real Estate acquires Irish Depfa Bank
German property financier Hypo Real Estate announced on Monday that it is acquiring Depfa Bank of Ireland for around EUR 5.7 bn. The takeover sum represents a premium of 17% on Depfa's closing price on Friday. The deal will result in one of Germany's biggest banks with total assets of ...
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PropertyEU Archive
CGG adds shopping mall to Hausinvest fund
Commerz Grundbesitz Gruppe (CGG) has bought a EUR 125 mln stake in the Stadtgalerie shopping centre currently under construction in Schweinfurt, Germany. CGG acquired the stake for its Hausinvest Europa Fund and will partner developer ECE Projektmanagement in the project. Total investment in the mall is put at EUR 170 ...
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PropertyEU Archive
Catella Real Estate obtains banking licence
Munich-based Catella Real Estate AG announced on Monday that it has been granted a banking licence ahead of its launch in the next few weeks of a new Focus Nordic Cities fund. Catella said the fund will make its first property investments in Norway and Sweden.
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PropertyEU Archive
GPT Halverton picks up five office buildings in the Netherlands
Real estate investment company GPT Halverton has acquired five office buildings in the Netherlands for its pan-European office fund H20 for an undisclosed sum. The properties, located in the towns of Huizen, Hoofddorp, Ridderkerk and Nieuwegein, were acquired from an unnamed private investor and comprise a total space of 7,700 ...
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PropertyEU Archive
Jaguar Capital buys and sells in London
Irish wealth manager Jaguar Capital has sold a prime office property in the City of London known as Thames Court for £183 mln (EUR 273 mln) to an unnamed US financial institution. At the same time, it has bought another London office property called Becket House for £98 million (EUR ...
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PropertyEU Archive
Savills buys Hamburg property manager
International property advisor Savills has acquired a majority stake in Theodor Schone, Hamburg’s oldest property management company, for an undisclosed sum. Theodor Schone, wwhich was established in 1921, will trade under the name Savills Immobilien Management Hamburg.
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PropertyEU Archive
Delek Real Estate unit buys offices in Germany
Delek Global Real Estate, the property arm of Israeli conglomerate Delek Group, said it has bought two office complexes in Germany for EUR 18.53 mln through a foreign subsidiary it owns jointly with Delek Global Real Estate.
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PropertyEU Archive
Wereldhave snaps up retail centre in Spain
Dutch property group Wereldhave said on Monday it has acquired a retail and leisure centre in Collado Villalba, Spain, for EUR 53 mln. The net initial yield on the property amounts to 6.25%. Wereldhave bought the complex from private Spanish company Invers Oil.
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PropertyEU Archive
Delta City shopping mall fully leased
Shopping mall developer Delta has announced that Serbia's first international style-shopping mall in Belgrade, Delta City, is now 100% leased ahead of its scheduled opening this November.
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PropertyEU Archive
Edinburgh House Estates buys EUR 100m German portfolio
Private property investment company Edinburgh House Estates has acquired a portfolio of 29 supermarket and other retail assets in Germany for EUR 100 mln. The vendor is a private German investor. The properties are located in cities such as Fulda, Hildesheim and Zwickau and are leased to avariety of retailers ...
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PropertyEU Archive
Deutsche Euroshop share split set for 6 August
German shopping centre investor Deutsche Euroshop said on Tuesday it will carry out a 2-for-1 share split on 6 August 2007. The resolution for the split was approved by shareholders at the annual general meeting on 21 June.
