All Real Assets articles in Web Issue – Page 132
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PropertyEU Archive
Private investor sells three historic buildings in Utrecht
A private investor has sold a portfolio of three properties with monument status in the heart of the Dutch city of Utrecht to a monument foundation for an undisclosed amount. The portfolio includes the Huize Pietas building, the Huis Ledenberch and the Hotel Des Pays-Bas. The first two assets are ...
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PropertyEU Archive
Immoeast buys large mall in Moscow
Immoeast is to invest EUR 450 mln in the GoodZone shopping centre in Moscow, the Vienna-based property company's largest single transaction ever. With total floor space of 146,000 m2, GoodZone is also amongst the largest retail projects in the Russian capital. The mall will house a total of 180 retail ...
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PropertyEU Archive
Property Group floats IPO plan
Denmark's Property Group is considering a flotation on the Copenhagen Stock Exchange in the next few years as part of a major change to its shareholder structure. The company announced on Thursday that Gudmundur Thordarson and real estate investor Birgir Thor Bieltvedt are acquiring a 45% interest in the company ...
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PropertyEU Archive
ODA welcomes Olympic Park planning recommendations
The Olympic Delivery Authority (ODA) said on Wednesday it has recommended approval of the planning applications for the Olympic Park. The Park, whose planning application was submitted in February, will be one of the largest new urban parks in Europe, including new sporting venues, highways, bridges, river works, utilities, and ...
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PropertyEU Archive
Plaza Centers unveils 5th project in Romania
Plaza Centers is to develop a 25,000 m[sup]2[/sup] shopping and entertainment centre in the southern Romanian town of Slatina. The developer said the 20,000 m[sup]2[/sup] site it acquired in the town comes with an option to build about 10,000 m[sup]2[/sup] of residential accommodation, which Plaza may consider selling to a ...
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PropertyEU Archive
Babcock & Brown buys and sells in Germany
Australian investment bank Babcock & Brown has acquired a portfolio of six office and retail properties in Germany for EUR 380 mln. The 160,000 m[sup]2[/sup] portfolio was bought from a subsidiary of German property group Bayerische Bau und Immobilien Gruppe. It includes the Weißer Riese, Kustermannpark, and Pagodum properties in ...
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PropertyEU Archive
Norwegian Properties to become largest Nordic RE player
Norwegian Properties is set to become the largest real estate company in the Nordic region following its NOK 3.3 bn (EUR 410 mln) bid for Norgani Hotels. Over 60% of Norgani's shareholders pre-approved the NOK 82.5 per share offer when it was announced on 14 August, and Norwegian Properties said ...
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PropertyEU Archive
British Land sees opportunities in credit squeeze
UK property major British Land has warned that the credit squeeze may be spilling over into the commercial property sector. Ceo Stephen Hester struck the note of caution as the second-largest real estate investment trust (REIT) in the UK posted results showing that underlying profits were up 7% to £76 ...
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PropertyEU Archive
Portland Trust launches two projects in Bucharest
Czech-based developer Portland Trust is expanding its activities in Romania with two new major real estate projects in the north of Bucharest. Portland's managing director Robert Neale told Romanian financial newspaper Ziarul Financiar that a 36,000 m[sup]2[/sup] office building is in the early stages of development in the Floreasca district ...
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PropertyEU Archive
Meag to buy office development in Helsinki
Meag has agreed to buy three office buildings in the HTC Keilaniemi business park in Espoo, Finland from the SRV Group for EUR 89 mln. The acquisition is the first in Finland by the Munich-based asset manager for Munich Re and Ergo Insurance Group. SRV is developing three seven-storey office ...
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PropertyEU Archive
Vastned Retail launches share buyback
Rotterdam-based VastNed Retail is to buy back up to 500,000 of its shares from 17 August to 10 October in a programme managed by merchant bank Kempen & Co. 'The current share price, in conjunction with the ongoing high prices for retail property, makes a share buyback an attractive proposition; ...
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PropertyEU Archive
Spain's Colonial ponders relocating HQ to Paris
Inmobiliaria Colonial is considering moving its corporate headquarters from Madrid to Paris, ceo Mariano Miguel said on Thursday in an interview with the Financial Times. Miguel cited tougher borrowing conditions in Spain, particularly for real estate companies, as a reason for considering relocating to France. He also said the group ...
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PropertyEU Archive
Professionals dismiss fears of property sector meltdown
Real estate organisations have dismissed fears that the sector in Europe is heading for a crash amid the continuing turmoil on the financial markets. The Royal Institution of Chartered Surveyors (RICS) remains upbeat on the situation in the UK, suggesting that positive rental growth will prevent a 'hard landing' for ...
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PropertyEU Archive
Mirland returns to profit on higher Russian rents
Mirland Development has reported a $60 mln (EUR 44 mln) profit for the first half of 2007, thanks to higher rental income. The Russian property company made a loss of $740,000 in the same period last year. Mirland said that it has invested just over $72 mln of the $293 ...
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PropertyEU Archive
Land Securities submits Victoria revamp plan
Land Securities submitted a proposal on Friday for the redevelopment of a 186,000 m[sup]2[/sup] area in Victoria, west London. A decision on the master plan by Westminster City Council is expected by next spring, the Financial Times reported. The project, involving an investment of about £2 bn (EUR 2.9 bn), ...
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PropertyEU Archive
HBG Construction assigned to EUR 132m Liverpool development
Neptune Developments and Countryside Properties have announced the appointment of HBG Construction, a unit of the Dutch Royal BAM Group, to build the prestigious mixed-use Mann Island development in Liverpool City Centre. HBG has reported a value of £ 90 mln (EUR 132 mln) for the development, while Neptune says ...
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PropertyEU Archive
WDP targets EUR 150m portfolio in Romania
Euronext-listed Belgian logistics property investor Warehouses De Pauw (WDP) has begun its activities in Romania with the purchase of five sites close to Bucharest. Last month WDP announced that it would be focusing on Romania in the next phase of its strategic growth plan, and has set up WDP Development ...
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PropertyEU Archive
Invesco increases Spanish portfolio to EUR 190m
Invesco Real Estate has acquired the Brexta shopping centre in San Sebastian-Donostia, Spain for EUR 16 mln. The 12,760 m[sup]2[/sup] centre is situated in the historical area of San Sebastian. It has a current occupation of 94%, and tenants include Adolfo Dominguez, Lacoste, Lidl, Timberland and McDonalds. San Sebastian’s city ...
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PropertyEU Archive
Expo Real 2007 grows further
The 10th edition of Expo Real, the international trade fair for commercial real estate, will this year host some 1,740 companies from 41 countries. The 2006 edition featured some 1,638 companies from 40 countries, about 100 less than the figure registered until August this year. The fair will grow by ...
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PropertyEU Archive
Fidelity International to launch EUR250m Pan-European fund
Fidelity International said on Monday that it has made the first of a series of purchases for its planned Pan-European Real Estate Fund, which it intends to launch later this year. The fund has a warchest of approximately EUR 250 mln and it is anticipated that the majority of acquisitions ...
