All Real Assets articles in Web Issue – Page 125
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PropertyEU Archive
Inland announces trading update
UK developer Inland, which specialises in buying brownfield sites and enhancing their value by obtaining planning permission, announced a trading update this week ahead of its preliminary results for the year ended 30 June, which will be announced on 1 October. The company said that it was continuing to make ...
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PropertyEU Archive
Gecimed checks into French care homes
Healthcare property specialist Gecimed has moved into the elderly care home sector with the purchase of a portfolio of three facilities from Medica France. One of the homes is close to Paris, while the other two are in the southwest of France. Together, the properties comprise 280 beds in a ...
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PropertyEU Archive
Immofinanz proposes first dividend payout
Announcing strong results for its 2006/07 trading year, the board of property company Immofinanz is to propose a payout of EUR 150 mln to its shareholders in their first ever dividend. Immofinanz chairman Karl Petrikovics said that the company was following an international trend in responding to the demands and ...
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PropertyEU Archive
Land Sec lets 7,000 m[sup]2[/sup] to City of London law firm
UK real estate company Land Securities has exchanged contracts with law firm Speechly Bircham for the pre-letting of 77,000 square feet (7,000 m2) of office space at the New Street Square development on New Fetter Lane in central London.
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PropertyEU Archive
AMB completes 171,000 m[sup]2[/sup] logistic portfolio in Hamburg
AMB Property Corporation has acquired a 44,000 m[sup]2[/sup] logistics complex at Hamburg port for its recently formed AMB Europe Fund 1. Since entering the market the fourth quarter of 2005, AMB has assembled one of the largest portfolios in Europe's second largest sea port, with more than 171,000 m[sup]2[/sup] owned ...
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PropertyEU Archive
Development Secs sells London property for EUR 102m
Development Securities, the London-listed development and investment company, has sold the long leasehold interest in the 23,000 m[sup]2[/sup] Building 1000 at the company's Royals Business Park to the London Borough of Newham for £75 mln (EUR 102 mln). Newham's back office staff will occupy 14,000 m[sup]2[/sup] of the building. The ...
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PropertyEU Archive
Degi acquires three Romanian office assets for EUR 110m
Degi, the real estate investment arm of German insurer Allianz, has entered into a conditional agreement to acquire three office properties in Bucharest from AIM-listed European Convergence Property Company (ECPC) for about EUR 110 mln. The final price, after transaction costs, will be decided after a post-closing audit.
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PropertyEU Archive
Evans Randall spends EUR 845m in July
Privately-owned merchant bank Evans Randall, which acquired London's landmark Gherkin tower for EUR 950 mln in a 50-50 partnership with Germany's IVG last February, has spent almost as much in transactions in July. As part of the company's strategy to acquire trophy buildings in the key financial hubs in Europe, ...
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PropertyEU Archive
Savills acquires US real estate investment bank
Global property adviser Savills has acquired Granite Partners, a US real estate investment banking firm, for an initial consideration of $54 mln (EUR 40 mln). Seventy-five percent of this sum is payable on completion of the deal. The remainder is subject to a five-year earn-out, with the total payable for ...
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PropertyEU Archive
Ukranian-focused RE firm begins trading on AIM
The shares of Aisi Realty Public, a closed-ended investment company focusing on investments in the real estate market in Ukraine, began trading on the AIM market of the London Stock Exchange on Wednesday. On admission Aisi had a total of 166 million ordinary shares in issue, capitalising the company at ...
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PropertyEU Archive
European real estate equities continue to slide
The FTSE EPRA/NAREIT Global Real Estate Index had another poor month in July. The index fell 6.2%, while the global equity markets were down 2.8% and the bob market added 1.4%.
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PropertyEU Archive
Sparkassen divests stakes in Vienna department stores
Austrian-listed property company Sparkassen Immobilien has divested its 75% stake in Vienna department store Steffl to Hans Schmid Private Trust, the owner of the other 25%. Both sides agreed not to disclose the financial details. Steffl provides 12,500 m[sup]2[/sup] of retail space, plus a further 1,400 m[sup]2[/sup] of restaurants and ...
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PropertyEU Archive
New Star in EUR 130m German office deal
UK fund manager New Star Asset Management has bought an office and administrative complex in Stuttgart, Germany, for EUR 130 mln from Sachwert Rendite-Fonds Deutschland, a closed-end fund launched by Hamburg-based MPC Munchmeyer Peterson Capital.
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PropertyEU Archive
European retail investment hits EUR 6.6bn in Q2
Retail real estate in Continental Europe attracted total investments of EUR 6.6 bn from April to the end of June this year, compared to EUR 5.5 bn in the same period last year, according to figures released by global property adviser Jones Lang LaSalle.
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PropertyEU Archive
Segro completes EUR 2bn disposal of US unit
Segro, formerly known as Slough Estates, has completed the divestment of its American division, Slough Estates USA, for $2.9 bn (EUR 2 bn). The sale of Slough Estates USA was the culmination of a strategic repositioning of the group which began in 2004. Segro is a specialised investor and developer ...
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PropertyEU Archive
Inrev conferences in September 2007
Click here to read about two conferences being hosted by the European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) in September 2007.
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PropertyEU Archive
IVG REIT set for spring 2008 launch
German property investor IVG Immobilien plans to hive off EUR 3.5 bn of its assets into a tax-friendly real estate investment trust (REIT) which would be launched on the Frankfurt stock exchange in the spring of 2008, newspaper Financial Times Deutschland reported on Thursday. 'If the bourse climate is unfavourable ...
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PropertyEU Archive
Warner acquires London office asset for EUR 65m
Warner Estate has confirmed the purchase of Cable House in central London from a private vendor for £44 mln (EUR 65 mln), reflecting a net initial yield of 5.51%. Cable House, at 56-62 New Broad Street, provides 57,000 square feet (over 5,000 m[sup]2[/sup] ) of Grade A office space. The ...
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PropertyEU Archive
Global hotel investment to climb to EUR 80bn
Investment in the global hotel market will climb to $110 bn (EUR 80 bn), a 52% increase on the EUR 53 bn spent on hotels last year, according to the annual Hotel Investor Sentiment Survey released by the hotel division of property adviser Jones Lang LaSalle. The report also indicates ...
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PropertyEU Archive
AFI to develop industrial park in Varna
Africa Israel Investments, the Israeli conglomerate controlled by billionaire Lev Leviev, has acquired land with office buildings, comprising 40,000 m2, of space, in the Bulgarian Black Sea port city of Varna for EUR 76 mln. AFI has the right to develop a 160,000 m[sup]2[/sup] industrial park on the land. Leviev's ...
