All Real Assets articles in Web Issue – Page 135
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PropertyEU Archive
New Star buys office building in the Netherlands
New Star International Property OEIC, on behalf of one of its funds, has acquired the Acapella office building in Hoofddorp, the Netherlands, from LSI Project Investment. The acquisition price comes to EUR 24 mln. The building comprises some 6,911 m[sup]2[/sup] of office space on five floors as well as 166 ...
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PropertyEU Archive
ECDC signs up for development of Bulgarian retail park
European Convergence Development Company (ECDC) said Thursday it had signed a preliminary land purchase agreement with Bulgarian firm Sienit for the development of a shopping mall together with a number of adjacent big-box and retail warehouse outlets in the Bulgarian city of Bourgas
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PropertyEU Archive
Lehman to close subprime unit
US investment bank Lehman Brothers said on Wednesday that it has decided to close its subprime-lending unit BCN Mortgage, and added that 1,200 employees will lose their job, about 4% of Lehman's workforce. The move will cut third-quarter earnings by $52 mln, the lender said in a statement.
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PropertyEU Archive
Orco completes sale of second phase of Czech project
Orco Property Group has announced that all housing units in the second phase of its residential project Plachta in the Czech city of Hradec Kralove have been sold. The second phase consists of eight buildings with a total of 279 apartments. There is commercial space for shops, a restaurant and ...
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PropertyEU Archive
Construction starts at Sponda's Itakeskus retail complex in Helsinki
Real estate company Sponda said on Thursday that construction has started for its planned 21,500 m[sup]2[/sup] retail complex in the Itakeskus district of Helsinki. The scheme, expected to be completed by the end of 2008, will also comprise about 650 parking spaces. The estimated total investment in the retail premises ...
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PropertyEU Archive
F&C Trust considers wind-up, paper says
UK property investment trust, F&C Commercial Property Trust will consider proposals to wind up after its share price failed to meet a self-imposed target, the Financial Times reported, citing the chairman of he company. The paper said F&C will announce an EGM on Thursday to consider the option.
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PropertyEU Archive
Russia's office development gathers pace in first half
Total new construction and refurbishment of Class A and B office space in Russia totalled some 490,000 m[sup]2[/sup] in the first half of 2007, a 50% rise on 2006 figures, according to new research by global advisor Colliers International. Class A accounted for 6% of the total new volume of ...
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PropertyEU Archive
Erinaceous pulls out of takeover talks
UK property services firm Erinaceous said it had terminated takeover talks with a number of unnamed parties, citing the conditions on global credit markets. Erinaceous announced in April that it had received a number of approaches from parties interested in acquiring the company.
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PropertyEU Archive
NSI to invest EUR 1 bn outside the Netherlands
Dutch real estate investment company Nieuwe Steen Investments plans to invest EUR 1 bn in projects outside the Netherlands as part of a new investment strategy. The company said it intends to double the size of the current EUR 2.5 bn investment portfolio in two to three years and carry ...
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PropertyEU Archive
CBRE Investors to launch EUR 100 m Italian fund
CBRE Investors will launch a EUR 100 mln property fund next month that will focus on Italy's real estate office market, Italian newspaper Demanio RE reported on Friday. The fund will be reserved for Australian group Macquarie and its customers and will be called Macquarie Office Italy. It has already ...
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PropertyEU Archive
BayernLB provides £410m financing for Hilton deal
German bank BayernLB said on Thursday it has provided £ 410 mln (EUR 606 mln) to a group of unnamed investors for the acquisition of a portfolio of Hilton hotels in the UK. The portfolio comprises ten four-star Hilton hotels. The properties provide a total of 2,044 rooms, or about ...
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PropertyEU Archive
Caja Madrid snaps up Torre Repsol for EUR 815 m
Spanish bank Caja Madrid has bought Madrid’s 250-metre high Torre Repsol building for EUR 815 mln.
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PropertyEU Archive
Metro Centre Partnership buys £82 m retail park
The Metro Centre Partnership has bought the Metro Retail Park development in Gateshead, UK for £82.5 mln (EUR 121 mln). With the acquisition, MetroCentre Partnership will own an additional 20,000 m[sup]2[/sup] at Gateshead's MetroCentre retail complex, which covers 167,000 m[sup]2[/sup] of space. The company is a joint venture between Capital ...
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PropertyEU Archive
DTZ advised AAIM on Arena Plaza deal
DTZ said it advised AAIM on the purchase earlier this month of Arena Plaza shopping centre, Hungary's largest-ever property transaction. The company bought the centre from its developer, Plaza Centers, a leading emerging markets property developer, for EUR 390 mln. 'We have bought over EUR 2.5 bn of assets in ...
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PropertyEU Archive
DTZ takes over Swedish real estate adviser
Global property adviser DTZ said on Friday it has acquired Fastighetsplanering, a privately-owned commercial real estate adviser based in Stockholm, Sweden. Through this acquisition, DTZ will be able to provide new commercial leasing services and further strengthen its real estate advisory offering in the country. Fastighetsplanering will shortly be rebranded ...
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PropertyEU Archive
AMB Property buys warehousing space in France
AMB Property France has acquired about 42,000 m[sup]2[/sup] of warehousing space located in the Gonesse industrial park, south of Paris' international airport of Charles de Gaulle, for an undisclosed amount. The warehousing units, acquired from office equipment retailer Manutan, have been leased back to the company, French newspaper Business Immo ...
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PropertyEU Archive
Barcelo leases Paramount Hotels portfolio
Dawnay Shore Hotels said it has agreed with Spanish hospitality group Barcelo to take over the management of its Paramount Hotels portfolio. The Spanish company will lease the portfolio under a 45-year agreement, Property Week reported. The portfolio includes 20 luxury hotels across the UK.
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PropertyEU Archive
Hines teams up with Belaya Dacha to develop retail park
International real estate firm Hines is joining forces with Belaya Dacha Agrofirma to develop a mixed-use project in the Moscow region. The deal is Hines' second with Belaya Dacha following the acquisition by Hines of part of the Belaya Dacha Logopark warehouse development last year.
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PropertyEU Archive
Three BNP Paribas funds to resume trading
French lender BNP Paribas said on Thursday that it would reopen three funds next week that it had frozen two weeks ago because of 'the complete evaporation of liquidity' in the market. The French bank said that 'conditions have returned to resume the valuation of the liquidity of the three ...
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PropertyEU Archive
Kungsleden buys three industrial and warehouse properties
Swedish listed property company Kungsleden is acquiring three properties in Gavle, Motala and Osteraker, Sweden, through three separate transactions for a total purchase price of SEK 144 mln (EUR 15 mln). The total lettable floor space is just over 28,000 m2, while the total rental value amounts to nearly SEK ...
