All Real Assets articles in Web Issue – Page 130
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PropertyEU Archive
Anglo Irish, Alanis purchase Liverpool's Metquarter shopping centre
Anglo Irish Bank Private Banking and Alanis Capital, the investment firm run by the family of Dublin financier John McCormack, have acquired the Metquarter shopping centre in Liverpool from a joint venture for a sum believed to be in the region of EUR 120 mln. The 12,600 m[sup]2[/sup] scheme, which ...
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PropertyEU Archive
Sal. Oppenheim buys bank HQ in Frankfurt
Cologne-based private bank Sal. Oppenheim has acquired the headquarters of the mortgage bank AHBR in the west of Frankfurt, German property newspaper Immobilien Zeitung has reported. Sal. Oppenheim intends to extend the building for a total investment of EUR 100 mln.
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PropertyEU Archive
Lamda subsidiary claims victory in Beko contest
Athens-listed property company Lamda Development has announced that its Serbian subsidiary, Property Development DOO, has bid almost EUR 58 mln in the public contest for the sale of a 43,000 m[sup]2[/sup] building owned by Beko, which is bankrupt. Lamda said this was the highest offer for the building and application ...
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PropertyEU Archive
Dawnay Day Sirius buys five more German business parks
Dawnay, Day Sirius (DDS) has announced that it has agreed to acquire five more freehold business parks for a total of EUR 103 mln. DDS is the company established by Dawnay Day and Sirius Facilities to purchase large mixed-use commercial real estate in Germany and convert them to flexible workspaces. ...
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PropertyEU Archive
Iberdrola/Caixa consortium buys into Lisbon towers
Iberdrola Inmobiliaria and Caixa Geral de Depósitos have acquired a 50% stake in the Colombo Towers project in Lisbon from co-developers Sonae Sierra and ING Real Estate for EUR 12 mln. The two consortiums, Sonae Sierra-ING RE and Iberdrola/Caixa Geral de Depósitos are co-owners and co-developers of the towers, which ...
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PropertyEU Archive
JLL sees 'cautious investment market' in Scotland
The Scottish office of property advisor Jones Lang LaSalle has predicted increasing caution by commercial property lenders in Scotland as their exposure remains significant and the 'rising cost of debt bites harder'. Direct real estate investment in the UK reached a record £27 bn during the first half of the ...
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PropertyEU Archive
PIK Group picks up Russian design firm
Russian residential real estate developer PIK Group has announced that it has acquired a majority stake in architectural design firm Novorosgragdanproekt for $6 mln (EUR 4.4 mln). PIK says that the firm is a leader in its field in the Krasnodar region, whose southern border is formed by the Black ...
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PropertyEU Archive
IVG acquires EUR 1.3bn Allianz portfolio
German listed property company IVG Immobilien has bought a portfolio from German insurer Allianz for about EUR 1.3 bn, reflecting a net initial yield of 5.3%. In a statement issued on Tuesday, IVG said the portfolio consists of seven 'high-quality' office properties: one each in Frankfurt and Hamburg, ...
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PropertyEU Archive
HSH Nordbank provides EUR 120m financing to BGP
German regional bank HSH Nordbank has provided EUR 120 mln financing to BGP, a joint venture between Australian groups Babcock & Brown and GPT, for the purchase of a property portfolio in Germany. The portfolio comprises 4,300 residential units with a total floor space of 260,000 m2, as well as ...
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PropertyEU Archive
Citycon set to buy Finnish mall for EUR 330m
Citycon is acquiring one of the largest shopping centres in Finland from funds managed by London-based equity firm Doughty Hanson for about EUR 329 mln. The agreement on the sale of the Iso Omena shopping centre in Helsinki was signed on Tuesday and the transaction is expected to be completed ...
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PropertyEU Archive
Level One acquires German property portfolio for EUR 502m
Level One, the German residential and commercial real estate group, has acquired a mixed portfolio of properties in the east and south of Germany for EUR 502 mln. The portfolio includes more than 11,500 residential units that comprise a total of 790,000 m[sup]2[/sup] of lettable space, almost doubling the number ...
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PropertyEU Archive
Office take-up in Edinburgh jumps by 73%
Office take-up in Edinburgh rocketed by 73% year-on-year to 55,000 m[sup]2[/sup] in the first half of 2007, according to the latest research from Jones Lang LaSalle. Total take-up for the second quarter came to 37,000 m2, doubling the level of take-up in the first quarter.
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PropertyEU Archive
Vincci set to buy hotels from Acciona
Vincci Hoteles is negotiating with Acciona for the purchase of the developer's share of the hotels that the two companies jointly own, Spanish newspaper El Economista reported, without citing sources. The two companies each own a 50% stake in Altai Hoteles. Under the venture started in 2002, Acciona took care ...
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PropertyEU Archive
Orco snaps up office building in Prague's BB Centre
Luxembourg-based Orco Property Group has acquired an office building in the BB Centre in Prague from Czech developers Passerinvest through its Endurance Office and Retail Fund for an undisclosed sum. The property, known as 'Building E', represents the fund's largest acquisition so far, and comprises 14,600 m[sup]2[/sup] of office space, ...
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PropertyEU Archive
ING RE buys Brussels offices
ING Real Estate has acquired two office buildings in Brussels for EUR 22 mln on behalf of the group's European Office Fund. ING bought Louise 375 building, a 4,434 m[sup]2[/sup] office located in one of the most prestigious streets of Brussels and part of the central business district. The premise ...
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PropertyEU Archive
Cushman & Wakefield launches Kiev operation
Property advisor Cushman & Wakefield has opened an office in the Ukrainian capital of Kiev. The new office will be headed up by Bud Moore, who moves from C&W's Moscow operation. Backed by a staff of 15, Moore will be offering a full range of property services covering brokerage, capital ...
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PropertyEU Archive
RE investment drops in Hungary
The total investment volume in Hungarian commercial real estate dropped about 25% year-on-year to about EUR 750 mln in 2006, according to a new report by King Sturge. The property advisor said it expects the recent slowdown in activity to continue through the rest of 2007. The main causes of ...
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PropertyEU Archive
Redevco gets go-ahead for redevelopment in London
Amsterdam-based real estate company Redevco has received planning approval for the redevelopment of 120 Moorgate in the centre of London. The 10-storey office-led scheme, designed by the architecture firm Allies & Morrison, will be Redevco's first development in the City of London district. The property will provide 14,540 m[sup]2[/sup] ...
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PropertyEU Archive
Niam opens Helsinki office
Swedish private equity firm Niam has set up an office in Helsinki to reinforce its presence in Finland. The company has appointed Pekka Salakka, who had previously been responsible for investments at CapMan Real Estate, to run the business. Salakka, who will officially become managing director of Niam Finland on ...
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PropertyEU Archive
Aareal provides EUR 275m financing to AMB
Aareal Bank has signed a EUR 275 mln multi-currency pan-European master facility with AMB Europe Fund I, FCP-FIS. The fund, managed by AMB Fund Management, is a Euro-denominated open-end commingled fund. It intends to invest in distribution facilities near major airports, seaports and highway systems, and in the major metropolitan ...
