All Real Assets articles in Web Issue – Page 131
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PropertyEU Archive
Icelandic bank to pay EUR 3bn for NIBC
Icelandic bank Kaupthing is to acquire struggling Dutch merchant bank NIBC for EUR 3 bn. The announcement came as NIBC released annual figures confirming it had suffered a EUR 137 mln loss on its exposure to the sub-prime mortgage market in the US. NIBC is owned by a consortium led ...
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PropertyEU Archive
Ariston Real Estate acquires three German assets
Ariston Real Estate has bought three commercial assets in the southern Germany city of Freising for EUR 54 mln. The fully-leased properties cover a total of 28,376 m2, German newspaper Immobilien Zeitung reported. The deal reflects a yield of 7.6%. The assets, including a 9,000 m[sup]2[/sup] logistics building, generate an ...
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PropertyEU Archive
St Modwen moves ahead with Wythenshawe regeneration
UK regeneration specialist St Modwen Properties has launched the latest phase of its £100 mln scheme in Wythenshawe Town centre with the opening of a new Asda food store. The £20 mln store is the centrepiece of a major redevelopment and refurbishment of the town centre planned by Manchester City ...
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PropertyEU Archive
MWB Business Exchange opens four new UK centres
AIM-listed office workspace provider MWB Business Exchange has launched new centres in Newcastle, Manchester and two in the City of London. The company added that the move follows the signing of key operating and management agreements as part of its expansion into regional markets.
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PropertyEU Archive
Prologis set to buy former Peugeot car factory's site
Prologis is set to acquire a 263,000 m[sup]2[/sup] plot on the site of the former Peugeot car factory in the English town of Coventry for £40 mln (close to EUR 60 mln). Prologis is buying the property from the Barclay brothers, who purchased the entire 574,000 m[sup]2[/sup] area last March ...
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PropertyEU Archive
Warburg Henderson's fund buys into German offices
Warburg-Henderson's asset manager HIH Hamburgische Immobilien Handlung has bought an office building in Germany on behalf of the pan-European fund Warburg-Henderson Multinational Plus. The transaction volume comes to EUR 70 mln. The office, located in Hamburg, was developed in 2003 and provides some 19,900 m[sup]2[/sup] of space. Major tenants include ...
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PropertyEU Archive
Modulus sells office campus Hardenburch Rijswijk
Modulus Vastgoedondernemingen has sold the Office Campus Hardenburch in Rijswijk, western Netherlands, to Henderson Global Investors for an undisclosed amount. The camps comprises seven office buildings, with a 95% occupancy rate. The total lettable floor area is 12,324 m[sup]2[/sup] and 146 parking spaces. Modulus is a development and investment company ...
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PropertyEU Archive
DDC to develop mixed-use complex in Transylvania
Dawnay Day Carpathian (DDC), UK-based retail property company that invests in Central and Eastern Europe, has acquired a 20,000 m[sup]2[/sup] plot of land in Cluj-Napoca, Romania for a mixed-use development.
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PropertyEU Archive
Westerbury to sell off properties in merger deal
Westbury Property Fund, a Guernsey-registered commercial property and ports company, has agreed to dispose of the majority of its property portfolio for £142 mln (EUR 210 mln) as part of a complex merger with well-known UK road haulage group Eddie Stobart Holdings. The merger is being conducted through the acquisition ...
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PropertyEU Archive
Hochtief, Deripaska to join forces for Olympics
Hochtief is to work together with Russian shareholder Oleg Deripaska on infrastructure projects in the Russian Black Sea city of Sochi, which hosts the 2014 Winter Olympics bid. Hochtief is in 'intensive talks' with Deripaska's company Basic Element in particular about the operation of airports in the region, Hochtief ceo ...
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PropertyEU Archive
Greece set to sell five tourist properties
The Greek government has unveiled details of public tenders to sell five tourist properties. The assets are owned by Tourist Development, the real estate arm of the Tourism and Development Ministry, Italy's news agency Ansa reported. They include a hotel casino on the island of Corfu, a 120-hectare plot ...
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PropertyEU Archive
Komex moves to new Warsaw HQ
Polish retail chain Komex is relocating its head office in December to Warsaw's Kopernik Office Buildings. Developed by Liebrecht & Wood, the property provides some 762 m[sup]2[/sup] of office space and 200 m[sup]2[/sup] of archives space. The Kopernik Office Buildings is located in Warsaw's fastest growing business and retail district. ...
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PropertyEU Archive
Westfonds hints at EUR 1.5 bn asset sale
Westfonds, the real estate arm of German bank WestLB, is considering selling 29 closed-end real estate funds, according to a report in the Manager-Magazins. The funds own a total of 46 real estate assets. Westfonds said that a final decision has yet to be made, and it is not clear ...
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PropertyEU Archive
Mirax buys $340m hotel in Turkey
Russia's Mirax Group has agreed with Turkish developer Cengiz Group on the purchase of the Sungate Part Royal Hotel, one of the most luxurious hotels in Turkey, for $340 mln (EUR 253 mln). The 1,000-room hotel is located in Kemer, a district of Antalya Province on the Mediterranean coast of ...
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PropertyEU Archive
Signa acquires Generali tower in Vienna for EUR 60m
Dusseldorf-based Signa Property Funds has acquired the Generali Tower in Vienna for about EUR 60 mln. The main lease with insurer Generali runs until 2017 and will generate annual rent of just over EUR 3 mln this year. Earlier this month, Signa acquired the Ikaros business centre in the Neudorf ...
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PropertyEU Archive
Macquarie acquires major stake in German RE website
Australia's Macquarie Bank and Sydney-based media company Publishing and Broadcasting have led the acquisition by a syndicate of just over 66% of German real estate website Immobilien Scout. The purchase of the stake for EUR 375 mln from Aareal Bank values the leading property portal at EUR 540 mln. Aareal ...
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PropertyEU Archive
Canton Property lists on AIM
Canton Property Investment, which has ambitions of becoming a major commercial property developer in mainland China, has become the latest in a long line of foreign real estate companies to list in London. Having raised $50 mln (EUR 37 mln) in its initial share placing, the company said it was ...
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PropertyEU Archive
Even announces first closing of healthcare property fund
Geneva-based financial services group Even Capital has announced that its healthcare property vehicle has raised one third of its target size of EUR 300 mln at the fund's first closing. Even Rx Properties is a closed-end Luxembourg investment company set up to general rental income and capital growth through investments ...
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PropertyEU Archive
Fears on merger hit Astroc's share price
Astroc Mediterraneo shares closed 2.13% down at EUR 9. 65 on Wednesday after Spanish news agency Efe reported that the major shareholders in Catalan property company Aisa want to pull out of the merger agreement. Astroc's shares had gained 12.35% since July 25 when it was announced that Astroc ...
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PropertyEU Archive
Lehman Brothers get green light for Beta fund bid
Italian stock marget regulator Consob has approved the takeover bid by Lehman Brothers' investment vehicle Chrysalis for the closed-end investment fund Beta Immobiliare which is managed by Fimit. The offer, which runs from 20 August until 21 September, comprises about 268,000 units, or 100% of the issued units. ...
