All Real Assets articles in Web Issue – Page 127
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PropertyEU Archive
Pirelli RE consortium buys four assets in Rome
Italy's Pirelli RE, together with Fingen and Maire Group, has won the contest organised by Fintecna Immobiliare, a state-owned company operated by the Italian treasury, to buy four major real estate assets in central Rome valued at some EUR 368 mln. Under the deal, Pirelli RE consortium will set up ...
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PropertyEU Archive
Land Securities lets remaining Bankside offices to RBS
UK real estate company Land Securities has announced that it has exchanged contracts with the Royal Bank of Scotland (RBS) for the pre-letting of the Bankside 2&3 development on London's Southbank. The transaction means Land Securities has now managed to let all the office space within the 87,000 m[sup]2[/sup] mixed-use ...
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PropertyEU Archive
Morgan Stanley RE teams up with Sunrise Senior Living
Morgan Stanley Real Estate announced on Monday that it has established a joint venture in the UK with Sunrise Senior Living, one of the world's largest assisted living facilities operators. The joint venture has committed to acquire and operate 15 assisted living communities totaling 1,244 units across the UK, for ...
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PropertyEU Archive
Warsaw's office take-up rises 24% in 1H 2007
Take-up in the Warsaw office market rose by 24% year-on-year to about 260,000 m[sup]2[/sup] in the first half of 2007, according to the latest Polish office report issued by real estate advisor Colliers International. The first quarter of 2007 registered a record with deals signed in the city for 144,000 ...
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PropertyEU Archive
Immoeast shops in Prague for EUR 110m
Immoeast has purchased the Gamma property in the BB Centrum office complex of Prague for EUR 110 mln. The purchase of BB Centrum Gamma is part of the company's extensive investment programme for the 2007/08 business year. Immoeast noted that almost half of the total investment volume of EUR 6 ...
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PropertyEU Archive
LaSalle Investment Management sells Stockholm office for EUR 123 m
LaSalle Investment Management has sold Kungshuset, a prime office building in Stockholm, for SEK 1.13 bn (EUR 123 mln), to an affiliate of GIC Real Estate, the property investment arm of the government of Singapore. The property has a lettable area of 17,211 m2, including offices, retail and a cinema.
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PropertyEU Archive
Kungsleden sells 97 Swedish properties for EUR 184.5m
Listed Swedish real estate company Kungsleden has announced that it has divested 97 commercial properties in eight cities in central and northern Sweden. The properties consist mainly of offices and industrial/warehouse buildings, and have been sold to Kungsleden’s Swedish peers Klovern and Dios, who will take possession on September 3rd. ...
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PropertyEU Archive
Tchenguiz raises stake in M&B to 20%
Property tycoon Robert Tchenguiz has increased his stake in Mitchells & Butlers from 3% to almost 19%, Tchenguiz's investment vehicle Violet Capital said on Monday in a regulatory news filing. The move comes on the back of the collapse of Tchenguiz's £4.5 bn property joint venture agreed last May with ...
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PropertyEU Archive
Hypo RE sells EUR 4.27 bn loans to ING
Hypo Real Estate Bank has agreed to sell a German real estate financing portfolio worth EUR 4.27 bn to INGDiBa, a German unit of ING Group. The portfolio comprises 53,300 performing loans of approximately 39,000 borrowers. The loans comprise mainly residential financing with a maximum sum of EUR 1 mln ...
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PropertyEU Archive
AAIM buys Hungary's largest mall for EUR 400 m
Plaza Centers, a leading emerging markets property developer, said on Tuesday it has sold the Arena Plaza shopping mall in Budapest to UK-based Active Asset Investment Management (AAIM), for about EUR 400 mln. Designed and developed by Plaza Centers following the purchase of the site in 2005, Arena Plaza is ...
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PropertyEU Archive
Adler join AIG in EUR 58m joint venture
Germany's Adler Real Estate and AIG Global Real Estate Investment, the property arm of the American International Group, have jointly acquired a portfolio of four office properties in Munich. The buildings have a net lettable area of around 35,000 m2, and the value of the transaction amounts to about EUR ...
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PropertyEU Archive
Akron, Curzon JV purchases Amsterdam's Teleport Boulevard
ING Real Estate has sold its property on Teleport Boulevard in the Sloterdijk business district of Amsterdam for an undisclosed amount. The office property has been sold to a joint venture between Akron and Curzon Global Partners. Teleport Boulevard offers a lettable floor area of nearly 10,000 m[sup]2[/sup] plus 77 ...
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PropertyEU Archive
FedEx moves CEE base from Frankfurt to Cologne
FedEx plans to shift its Central and Eastern European base from Frankfurt to a new site at Cologne airport in 2010, the express freight company said on Monday. The new premises will form part of a 50,000 m[sup]2[/sup] freight and sorting centre, in which the airport plans to invest ...
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PropertyEU Archive
New JLL report reveals climbing rents in top Dutch offices
Jones Lang LaSalle analysts in the Netherlands presented the latest edition this week of their 'Dutch City Reports', their half-yearly review for users and investors of the key indicators in the real estate markets of Amsterdam, Rotterdam, Utrecht, The Hague and Eindhoven. Key findings included rising top rents, above average ...
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PropertyEU Archive
Niam sells office portfolio in Finland
Acta Kapitalförsäkring has acquired an office portfolio in Finland from Niam Nordic Investment Fund III for EUR 125 mln. The portfolio comprises five properties in the Finnishe cities of Helsinki, Vantaa, Tampere and Oulu. Niam acquired the asstes from NCC during 2004-2007. The portfolio provides some 36,000 m[sup]2[/sup] of office ...
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PropertyEU Archive
Metrovacesa set to launch new French unit
Metrovacesa is set to launch a new French subsidiary that will own the EUR 2.25 bn real estate assets the Spanish company will receive from its French parent company Gecina under the separation process agreed by Metrovacesa's main shareholders last February. The new unit, to be named Medea, will be ...
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PropertyEU Archive
Land Securities sells Greater London House
UK REIT Land Securities has said it has exchanged contracts for the sale of Greater London House in Camden, London to local property company Lazari Investments for £ 165 mln (EUR 242 mln). The 30,658 m[sup]2[/sup] Art Deco-style office building was originally developed as a cigarette factory in the 1920s, ...
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PropertyEU Archive
CBRE: commercial property investment in France tops EUR 13 bn
Commercial property investment volumes in France came to EUR 13.3 bn in the first half of 2007, data from global adviser CB Richard Ellis show. With almost EUR 700 mln of commitment, service properties (student residences, health homes and hotels) continue to respond to a growing demand in a market ...
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PropertyEU Archive
Signa buys business centre for EUR 164 m
Dusseldorf-based property firm Signa has acquired the Ikaros business centre in the Neudorf district of the city of Luxembourg for EUR 164 mln. The business park provides some 30,000 m[sup]2[/sup] of space, German newspaper Immobilien Zeitung reported. The premises, which are leased to Deloitte and the Nordea bank, will be ...
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PropertyEU Archive
Skanska wins EUR 220 m contract in the City
Skanska has been awarded a contract to construct the Walbrook office and retail development in central London. The project will involve an investment of £ 150 mln (EUR 220 mln). The customer is UK property company Minerva.
