All Real Assets articles in Web Issue – Page 141
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PropertyEU Archive
Aurelis
German real estate firm Aurelis is to develop four office buildings in the centre of Nuremburg.
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PropertyEU Archive
Land Securities confirms review of 'business structure'
Land Securities confirmed on Wednesday that it is conducting a 'review of its business structure' but stopped short of commenting directly on a newspaper report that suggested one of the options is a break-up of the largest property company in the UK. 'The review is well progressed and the company ...
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PropertyEU Archive
Tishman Speyer starts development of Opera Tower in Frankfurt
Construction began this week on the 168-metre OpernTurm (Opera Tower) in Frankfurt. US real estate giant Tishman Speyer, which bought the site in 2004, has contracted Stuttgart-based Ed. Züblin to develop the 44-storey skyscraper. The Opera Tower will provide some 60,000 m[sup]2[/sup] of lettable space when completed in 2009 and ...
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PropertyEU Archive
Dutch retailer V&D opens new store in November
Dutch retailer V&D will open its 61st store in November. The new store in Doetinchem will have 6,000 m[sup]2[/sup] of sales floor and replace Huls, one of the country’s last privately owned department stores. V&D is part of Maxeda, a privately-held retail group headquartered in Amsterdam.
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PropertyEU Archive
Starbucks enters Russia
Starbucks is to open its first store in Russia on Thursday at the Mega Khimki mall in Moscow. A second outlet will open in the city by the end of the year. The move is part of the American coffee chain's international expansion which is targetting five countries. The US ...
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PropertyEU Archive
King & Spalding opens office in Frankfurt
International law firm King & Spalding has opened an office in Frankfurt in response to what the company sees as the growing demand for legal services in the areas of real estate capital markets, finance, corporate and tax. The office will focus initially on extending the firm's real estate ...
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PropertyEU Archive
Pik readies major housing scheme in southern Russia
Pik Group said on Wednesday it plans to develop 440,000 m[sup]2[/sup] of housing in the Russian Black Sea city of Novorossiysk. The Russian residential developer, which raised EUR 1.3 bn earlier this year in Europe's largest IPO by a real estate firm, has acquired a 42-hectare plot in Novorossiysk for ...
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PropertyEU Archive
Sanchez Ramade increases stake in Realia
Group Sanchez Ramade has acquired 5% of Spanish real estate company Realia for EUR 90 mln. Following the purchase this week, the group has become the second-largest shareholder in Realia after Caja Madrid and developer Fomento de Construcciones y Contratas (FCC). Sanchez Ramade offered EUR 6.3 per share. The purchase ...
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PropertyEU Archive
Klepierre confims EUR 1 bn 2007 investment target
French property firm Klepierre on Thursday confirmed its EUR 1 bn investment target for the full-year 2007. In a statement, Klepierre said as part of this plan it had opened its 240th shopping centre, the Champ de Mars in the French city of Angouleme. The 15,500 m[sup]2[/sup] shopping centre was ...
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PropertyEU Archive
JPMorgan sees EUR 140bn added to European REITs
US investment bank JPMorgan says it expects investors to add EUR 140 bn to European listed Real Estate Investment Trusts (REITs) in the long term. In a research document released at the annual European Public Real Estate Association (EPRA) conference in Athens, Greece, the firm said the growth will be ...
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PropertyEU Archive
Niam buys 16 assets in Sweden
Private equity firm Niam has teamed up with Crown Asset Management to purchase 16 properties from the listed real estate company Dagon. The properties were acquired through the joint company Niam Center Syd Fastighets. Dagon is divesting the portfolio comprising 16 assets across several villages in Sweden in order to ...
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PropertyEU Archive
KanAm Grundinvest Fonds acquires Cartier's Paris HQ for EUR 380m
Germany's KanAm Grundinvest Fonds has acquired jeweller Cartier's head office in Paris for EUR 380 mln. The Cité du Retiro complex is located near the Élysée palace and provides some 21,000 m[sup]2[/sup] of space, distributed across four connected buildings on seven storeys. The German investment company declined to disclose the ...
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PropertyEU Archive
Bank of England holds interest rates at 5.75%
The Bank of England on Thursday left interest rates on hold at 5.75%, after five consecutive rises in a year. The decision by the Bank reflects a positive situation with inflation falling to 1.9%, below the government's 2% target for the first time in one and a half years. The ...
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PropertyEU Archive
ABP mulls sale of KFN unit
Dutch pension fund ABP is considering the sale of at least part of its wholly-owned unit KFN, a property investment company focusing on high-quality offices. With a portfolio valued at EUR 1.3 bn, KFN is one of the largest office property investors in the Netherlands. ABP confirmed it had hired ...
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PropertyEU Archive
Norgani acquires Swedish hotel
Nordic hotel group Norgani is acquiring the Radisson SAS Hotel in Linkoping, Sweden for Skr 103.3 mln (EUR 11 mln). The property consists of a hotel with 91 rooms and conference and banqueting facilities, a restaurant and four shops.
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PropertyEU Archive
Fortis acquires office space in France
Fortis Private Real Estate has acquired La Petra, a 14,000 m[sup]2[/sup] office building in Ivry-sur-Seine, near Paris, from the Brémond group. The value of the transaction has not yet been released. Delivery is planned for 2009.
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PropertyEU Archive
Corio, IVG still believe in Europe
Jan de Kreij, CEO of listed retail investor Corio, sees no need to invest in China to grow his company further. 'There is still plenty to do in Turkey and Italy,' he said, pointing to opportunities for rental growth in these countries. But the days of easy profits in Europe ...
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PropertyEU Archive
Prologis: benefits of sustainability measures outweigh the costs
The additional costs of building sustainable logistics centres are now being offset by other financial benefits, according to Robert Wilson, the European CEO of Prologis. 'The costs of environmentally friendly design features might be 2% to 4% higher than for a traditional logistics centre, but it is possible to gain ...
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PropertyEU Archive
Catella RE launches Focus Nordic Cities fund
Catella Real Estate has launched Focus Nordic Cities, the first open-ended property fund for investment in real estate located exclusively in Scandinavia and countries bordering the Baltic Sea. The fund was launched on 3 September, with institutional investors as its target group.
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PropertyEU Archive
Curzon/AEW sees European credit squeeze deepening
The fallout of the sub-prime mortgage crisis in the US may stifle investment activity in the European commercial real estate market for the remainder of this year and cause casualties among highly-leveraged players as banks tighten credit lines, according to investment manager Curzon Global Partners.
