All Real Assets articles in Web Issue – Page 124
-
PropertyEU Archive
Liberty posts profit growth but sees capital growth slow down
UK retail REIT Liberty International reported first-half pre-tax profit of £ 67 mln (EUR 100 mln), up 16% on the year-earlier period. The company added that the period also saw a slowdown in capital growth. Capital growth in the company’s UK regional shopping centre portfolio slowed from 1.9% in the ...
-
PropertyEU Archive
Klepierre confirms FY double-digit growth
French property group Klepierre said cash flow from operations jumped 15.7% to EUR 257.1 mln in the first six months of 2007, equivalent to a 15.3% rise compared with the year-earlier period. The company also confirmed its forecast of double-digit growth in full-year cash flow from operations.
-
PropertyEU Archive
Henderson Global Investors launches Italian retail fund
Henderson Global Investors’ Italian fund management arm said it is launching its first fund following authorisation from the Bank of Italy. The closed-end fund for institutional investors, Fondo Azzurro, will target retail property investments and will invest in both existing properties and development schemes. Henderson Global Investors SGR ...
-
PropertyEU Archive
Rutley buys EUR 108m German retail portfolio
Rutley European Property has announced that it has exchanged contracts for the acquisition of a portfolio of 17 retail assets in 16 German towns valued at around EUR 108 mln. The deal is scheduled to complete on 1 October and the properties reflect a gross initial yield of about 7.5%. ...
-
PropertyEU Archive
Signature Capital acquires Hamburg offices for EUR 60m
Dublin-based property investment firm Signature Capital has acquired the Raffay Smart City building in Hamburg for EUR 60 mln. Tenants of the modern office property include Peugeot, Smart and UCI Multiplex. The building has a total lettable area of 25,755 m[sup]2[/sup] over three floors, and existing leases have an average ...
-
PropertyEU Archive
Patrizia acquires 7 commercial properties in Germany
Patrizia, the Augsburg-based listed property company, has purchased seven commercial assets in Germany for almost EUR 50 mln on behalf of Patroffice - a news joint co-investment vehicle between Patrizia, Dutch pension fund ABP and Denmark's ATP Real Estate.
-
PropertyEU Archive
GTC takes 75% stake in Bulgarian shopping mall
Developer Globe Trade Centre (GTC) has acquired 75% of the shares in the company building a shopping mall in the city of Stara Zagora, Bulgaria. The development is GTC's second investment of this type in Bulgaria, and is being carried out with the participation of a local partner holding the ...
-
PropertyEU Archive
Plaza sells stake in EUR 78 mln Lublin Plaza to Klepierre
Property developer Plaza Centers confirmed this week that it has completed the sale of its 50% stake in the Lublin Plaza Shopping and Entertainment centre in Poland to French property group Klépierre. Plaza has been solely responsible for the active management of the Lublin Plaza project, which opened fully let ...
-
PropertyEU Archive
IRE seeks additional funds to grow portfolio
AIM-listed property investor and developer International Real Estate (IRE) revealed at its AGM that the acquisition of a number of new sites has increased the company's portfolio of residential and mixed-use properties in Germany to around 282,000 m[sup]2[/sup]. IRE Chairman Rolf Nordstrom told shareholders on Friday that so far ...
-
PropertyEU Archive
Andrea Carpenter to head Inrev research department
The European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) has appointed Andrea Carpenter as director of its research and market information department with effect from 1 August 2007. Carpenter is a real estate journalist and has been managing director of the Urban Land Institute's Centre for Regeneration and ...
-
PropertyEU Archive
CBRE Investors buys Le Bourget office project
CB Richard Ellis Strategic Partners Europe Fund III has acquired a ground-up office development project from BNP Paribas subsidiary Meunier Immobilier d'Entreprise. Located in Le Bourget, on the Northern outskirts of Paris, the building will be delivered in 2009 and will represent a total area of around 20,800 m2, including ...
-
PropertyEU Archive
Morgan Stanley makes first investment in European budget hotels
Morgan Stanley Real Estate's Special Situations Fund III has agreed to acquire a 35% stake in Motel One Management, the holding company of the fast-growing budget hotel chain in Germany, for an undisclosed amount. The planned investment will be Morgan Stanley Real Estate's first investment in the budget hotel sector ...
-
PropertyEU Archive
SWIP launches Luxembourg-based SICAV
Scottish Widows Investment Partnership (SWIP), the asset management arm of the UK's Lloyds TSB banking and insurance group, has launched a Luxembourg-based SICAV umbrella fund aimed at the continental European market. SWIP, which appointed former head of DTZ Investment Management Malcolm Naish as their Head of Property last week, manages ...
-
PropertyEU Archive
Kenmore buys two UK properties for EUR 104m
UK-based commercial property investor and developer Kenmore has announced the sale of two UK properties for £70 mln (EUR 104 mln). The first is Maersk House, an 8,300 m[sup]2[/sup] office building in the City of London, which Kenmore have sold to private Irish investors for £56 mln (EUR 83 mln). ...
-
PropertyEU Archive
Invista's assets grow to EUR 15 bn in first half
In its unaudited interim results for the six months ended 30 June, Invista Real Estate Investment Management announced that its assets under management had increased by nearly 11% since the end of last year, to £10.2 bn (EUR 15 bn). Over 70% of this growth was attributable to net funds ...
-
PropertyEU Archive
Office sector outperforms all-property returns in Q2
Offices continue to be the best performing property sector, having recorded returns of 3.3% in the second quarter of 2007, followed by the retail sector with 1.5%. All-property returns for Q2 remain in line with the previous quarter at 2.1% - only marginally below the 2.3% recorded in the first ...
-
PropertyEU Archive
IVG spends EUR 209m on German offices
IVG Immobilien has acquired a portfolio of 11 office buildings in Germany from Hamburg-based real estate company Robert Vogel for EUR 209 mln. Ten of the buildings are in Hamburg and one is in Munich.
-
PropertyEU Archive
Eurobank spends EUR 22m in Belgrade
Greek real estate investment company Eurobank Properties has acquired Reco Real Property, a Serbian company that owns a prime mixed-use office and retail building in the centre of Belgrade. The acquisition price for the shares of Reco was agreed at EUR 22. 63 mln on a liability-free basis. Eurobank will ...
-
PropertyEU Archive
Standard Life sells Scottish shopping centre for EUR 97m
Standard Life Investments has sold the Regent Centre in Hamilton, Lanarkshire, Scotland to an unnamed Northern Irish investor for £65.55 mln (EUR 97 mln). Based on the initial annual income generated by the centre of around EUR 5.9 mln, the transaction reflects a yield of 5.72%.
-
PropertyEU Archive
Delek, Ahouvi acquire largest ever Swiss portfolio
Delek Global Real Estate (DGRE) and Israeli investor Igal Ahouvi have acquired a CHF 3.4 bn (EUR 2 bn) portfolio of 88 investment properties in the largest property portfolio sale in Switzerland. AIM-listed DGRE bought the assets together with Delek's Israeli parent Delek Belron International and a subsidiary of the ...
