All Real Assets articles in Web Issue – Page 137
-
PropertyEU Archive
Experts reveal Polish opportunities
Poland remains an important target for most international and institutional property investors in Central and Eastern Europe, but a deep understanding of the Polish market is needed in order to get the most of their investments, according to auditing firm Deloitte. Real estate experts from Deloitte are teaming up with ...
-
PropertyEU Archive
Merrill Lynch prepares London listing of two Russian firms
US investment bank Merrill Lynch has been appointed by two Russian real estate companies to organise listings on the main market of the London Stock Exchange, newspaper The Telegraph reported. The paper did not report the name of the companies but added that they will each raise some £1bn in ...
-
PropertyEU Archive
WDP's half-yearly results up on last year
Belgian logistics property investor Warehouses De Pauw (WDP) has released its half-yearly figures, showing operational profits for the first half of the year of EUR 12.5 mln, up by EUR 1.1 mln on the same period last year. Its portfolio value increased to EUR 464 mln.
-
PropertyEU Archive
Hannover Leasing sells property in Munich
Hannover Leasing has sold an office complex in Munich for EUR 75 mln to cash in on the high prices commanded by German properties. The asset in the office park 'Siemens AG - Munich, St Martin-Str' is leased to Siemens until 2016. The building was marketed to investors in 2003-2004 ...
-
PropertyEU Archive
Kenmore's interim results show strong progress
Kenmore European Industrial Fund (KEIF) booked a pre-tax profit of just over EUR 23 mln for the first half of 2007. The UK-based closed-end investment company raised EUR 206 mln on the London Stock Exchange in September last year. The company's property portfolio, valued at EUR 525 mln, saw an ...
-
PropertyEU Archive
Immoeast implements EUR 1.5 bn disposal plan
Immoeast said on Wednesday that it has begun implementing its EUR 1-1.5 bn sales programme in Central Europe. The first step involves the divestment of stakes in three properties in the Czech Republic and Estonia. Immoeast will sell another EUR 1 bn to EUR 1.5 bn of real estate acquired ...
-
PropertyEU Archive
German open-ended funds collect EUR 1.5bn in July
Germany's open-ended funds raised around EUR 1.5 bn in fresh shareholder capital in July, nearly EUR 500 mln more than the previous month, according to the latest figures from the association of German investment companies BVI. In July 2006, capital inflow into the funds amounted to EUR 83 mln.
-
PropertyEU Archive
Develica lifts German holdings to EUR 1.5 bn
Develica Deutschland, the London-listed German real estate investor, has notarised contracts to acquire a mixed-use portfolio for EUR 45 mln, increasing the company's property assets to over EUR 1.15 bn. The latest transaction involves 12 properties in Central Germany with a floor area of 67,000 m[sup]2[/sup]. In a statement, the ...
-
PropertyEU Archive
Madison buys 40% of Corovest
Madison Property Fund Managers has acquired a 40% stake in Corovest, the investment manager for Jersey-registered closed-ended property company Ciref. Madison said the acquisition was a strategic move to broaden its international asset base. The financial details of the transaction were not disclosed.
-
PropertyEU Archive
Aurelius sells property in Hamburg
Aurelius Immobilien has sold the Silo and Fleethaus office buildings in Hamburg to Pramerica Real Estate Investors for over EUR 40 mln. The Silo property, developed in 2005, comprises 14,000 m[sup]2[/sup] of office space. The Fleethaus is a historical complex dating back to 1883. It provides 5,200 m[sup]2[/sup] of office ...
-
PropertyEU Archive
Berlin reverberates to retail boom
International chain stores are flocking to Berlin like bees to honey, according to a new report by independent property advisor Winters & Hirsch. When the current revamp of Alexanderplatz is complete, the city's central square and public transport hub will boast some 165,000 m[sup]2[/sup] of sales floor, twice its pre-transformation ...
-
PropertyEU Archive
Multiplex to build UK's highest tower
Australian property group Multiplex has been chosen to develop the 63-storey Pinnacle Tower at Bishopsgate in London's financial district. The skyscraper project was initially called Helter Skelter but was renamed when the Shariah-compliant real estate company Arab Investment bought it from Germany's Difa last May.
-
PropertyEU Archive
Multi, Meinl to develop Bulgarian mall
Dutch real estate company Multi Development and Austria's Meinl European Land are teaming up to build a EUR 168 mln shopping mall in Sofia. Forum Sofia, one of the largest development projects in Bulgaria, is scheduled for completion in late 2009. 'For Multi Development and Meinl European Land this is ...
-
PropertyEU Archive
Standard Life sells Edinburgh office
Standard Life Investments has sold 23 St Andrew Square in Edinburgh's city centre to Corob Holdings for £10 mln (EUR 15 mln). The deal reflects a net initial yield of 4.5%.
-
PropertyEU Archive
Segro looks to Europe for further growth
UK property company Segro has set its sights firmly on continental Europe in the face of falling gains in its home real estate market. Unlike some of its highly leveraged counterparts who are moving into other European countries, Segro does not have financial difficulties as it has a £1.3 bn ...
-
PropertyEU Archive
Tragus Group mulls IPO
Tragus Group, the UK restaurant group that owns the Café Rouge, Bella Italia and Strada chains, is considering a £500 mln (EUR 737 mln) flotation next year, the online edition of The Times newspaper reported on Wednesday. Tragus, which is controlled by private equity firm Blackstone, is said to be ...
-
PropertyEU Archive
Sponda increases interest in Ovenia
Helsinki-based real estate company Sponda has increased its holding in property management firm Ovenia from 51% to 70%. Sponda said it intends to further develop and expand Ovenia's business. Ovenia had a net turnover of EUR 8 mln in 2006 and manages 5.5 million m[sup]2[/sup] of property in Finland. ...
-
PropertyEU Archive
Protego opens Stockholm office
Protego Real Estate Investors has announced that its new office in Stockholm will be headed by Lars Almquist, former head of research & consulting Nordic region at Jones Lang La Salle. The opening of the office follows Protego's successful launch of its EUR 1.65 bn Nordic Retail Fund in June. ...
-
PropertyEU Archive
Oppenheim shops in Poland
German fund manager Oppenheim Immobilien-Kapitalanlagegesellschaft has bought three hypermarkets and a shopping gallery in Poland from GE Real Estate for EUR 132 mln. Jones Lang LaSalle represented GE Real Estate in the deal, while Cushman & Wakefield advised Oppenheim, newspaper Commercial Real Estate reported. The assets located in Gdansk, ...
-
PropertyEU Archive
XXI Century anticipates NAV of EUR 1 bn
XXI Century Investments, the Ukrainian real estate investment, development and property management company, has forecast that its net asset value (NAV) will come to $1.4 bn (just over EUR 1 bn) for the first six months of 2007. The figure is based on an estimated fair value of EUR 1.1 ...
