All Real Assets articles in Web Issue – Page 138
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PropertyEU Archive
ING Industrial Fund sees earnings per unit grow 11.5%
ING Industrial Fund said on Wednesday its distributable income rose by 35.2% to EUR 109.3 mln in the year ended 30 June, resulting in an 11.5% increase in distributable income per unit. Distributable income per unit before gains on sales of investments increased 11.3%.
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PropertyEU Archive
Fincas Corral closes 170 Spanish offices in 2007
Fincas Corral, one of the leading real estate consultancy groups in Spain, has closed half of its offices in the country so far this year, according to an article on Thursday in Spanish newspaper Cinco Dias. The property advisor said the move marked 'an adjustment' to the current situation of ...
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PropertyEU Archive
Carrefour plans EUR 3bn property IPO in 2008
French retail giant Carrefour said Thursday it plans to sell off part of its enormous property portfolio via an Initial Public Offering (IPO) in 2008. The firm said it aims to raise EUR 3 bn from the bourse launch of its newly-created European real estate vehicle which will be called ...
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PropertyEU Archive
Royal BAM Group sells EUR 215m properties in the UK
HBG Properties, the property development arm of HBG UK and an operating company of Dutch building group BAM, has sold eight office properties to German investor IVG Immobilien for £146 mln (approximately EUR 215 mln).
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PropertyEU Archive
Metrovacesa buys EUR 340m properties in Germany
Spanish real estate company Metrovacesa has acquired eight buildings in Germany for EUR 340 mln from Tishman Speyer. The assets include seven properties located in the heart of Dusseldorf's banking district and one in Frankfurt. The deal is believed to reflect a net initial yield of 5%.
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PropertyEU Archive
Westfield reports 7.4% jump in HY earnings
Westfield Group, the largest shopping centre owner in the world by market valuation, has announced a 7.4% increase in operating profit to AU$ 844 mln (EUR 505 mln) for the first six months of 2007. But overall net profit, including property revaluations and currency adjustments, came to AU$1.97 bn, ...
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PropertyEU Archive
Qatari investor sells Paris conference centre for EUR 465m
Qatar-based Barwa Real Estate announced it has sold the International conference centre in the 19th arrondissement of Paris to an unnamed 'strategic investor' for EUR 465 mln. The Qatari group bought the centre last April at an auction organised by the government for EUR 404 mln. Barwa said it would ...
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PropertyEU Archive
Balfour Beatty snaps up Cowlin for £ 52m
UK construction firm Balfour Beatty said it had acquired regional peer company Cowlin Group from the current management for £ 52 mln (EUR 76.7 mln) in cash. Cowlin has positive net cash balances of more than £ 20 mln, Balfour Beatty said.
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PropertyEU Archive
Babcock & Brown buys Space Maker for EUR 93m
Babcock & Brown has completed the acquisition of UK self-storage business Space Maker Group for about £63 mln (EUR 93 mln). The Australian investment group said it intends to expand the business and grow Space Maker to become one of the leading self-storage providers in the UK within the next ...
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PropertyEU Archive
Colliers starts leasing of Southern Serbia's first mall
Colliers International Serbia said it has started the leasing of the Interspeed shopping centre in Serbia. Interspeed, located in the Presevo area, is the fist shopping mall in the whole of Southern Serbia, Colliers said. The centre is scheduled to open in the summer of 2008.
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PropertyEU Archive
Procter & Gamble, Jones Lang LaSalle renew strategic partnership
Jones Lang LaSalle (JLL) said US firm Procter & Gamble (P&G) had renewed its strategic partnership with the property advisory firm. The new contract means JLL will continue to provide facility and project management services related to P&G’s 1.5 million m[sup]2[/sup] office portfolio after the expiration of the original five-year ...
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PropertyEU Archive
Russian group to sell Moscow head office
Russia's energy group OAO RAO plans to sell its Oil House head office in Moscow, newspaper Property Week reported. The 47,000 m[sup]2[/sup] property will be put on the market with a starting price of $165 mlm (EUR 121 mln). Global advisor Cushman & Wakefield has been appointed to market the ...
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PropertyEU Archive
Corio to sell EUR 1 bn office-industrial portfolio
Dutch property company Corio expects to raise as much as EUR 1 bn by selling its office and industrial portfolio. The company, which presented its first half results on Friday, said it is planning to sell the major part of its office and industrial assets, which account for about 19% ...
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PropertyEU Archive
Klepierre completes 3-for-1 stock split
French retail property giant Klepierre is to complete a 3-for-1 stock split on Monday to bring the par value per share from EUR 4.2 to EUR 1.4. The split will triple the number of Klepierre shares to a total of 138.5 million.
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PropertyEU Archive
Allreal H1 net up 29.7%, share issue planned
Zurich-based property firm Allreal said its first-half net profit came in at CHF 56.3 mln (EUR 34.3 mln), up 29.7% on the same period last year. Exluding a revaluation gain, operating profit for the period rose to CHF 40.6 mln from CHF 35.2 mln in the year-earlier period. Allreal said ...
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PropertyEU Archive
Tiger Developments set for Glasgow's £100m revamp scheme
Tiger Developments announced on Friday that it plans to carry out a £100 mln (EUR 147 mln) redevelopment project in Glasgow. The company said it has purchased a 40,500 m[sup]2[/sup] site for the project, which will include 358,000 sq ft (33,300 m2) of office space, a 130-bed hotel and some ...
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PropertyEU Archive
ING Office Fund delivered total retun of 33% in 2006/2007
ING Real Estate has announced the annual results of ING Office Fund, a public property trust listed on the Australian Stock Exchange and managed by ING Real Estate. The fund reported a net profit of AU$ 572.7 mln (EUR 359.7 mln) for the year ended 30 June 2007. The fund ...
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PropertyEU Archive
GE grows Dusseldorf portfolio to EUR 370m
GE Real Estate Germany has increased the value of its portfolio in Dusseldorf to about EUR 370 mln following the acquisition of five mixed-use properties in the city. The financial details of the off-market transaction with a private investor were not disclosed. But in a statement, GE Real Estate said ...
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PropertyEU Archive
Young Group to launch 45-storey Canary Wharf tower
Young Group is launching the development of the Landmark east tower, a 45-storey skyscraper in Canary Wharf. At 140 metres, the structure will be one of Europe's tallest residential buildings. Due for completion at the end of 2010, the skyscraper will be located only four minutes' walk from Canary Wharf's ...
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PropertyEU Archive
Meinl EL to invest EUR 60m on Russian mall
Meinl European Land is expanding in Russia with the development of a shopping centre with an integrated DIY market and electronic superstore in the Mineralnyye Vody region of Southern Russia. The investment volume for the project is estimated at EUR 60 mln, reflecting a yield of 13%.
