All Real Assets articles in Web Issue – Page 143
-
PropertyEU Archive
Inrev launches NAV model
Inrev, the European association for investors in non-listed real estate, is set to launch a common methodology in September for calculating the adjusted net asset value (NAV) of non-listed real estate funds. Concurrently, it is also introducing standard fee metrics methodology providing fund managers with a format on how to ...
-
PropertyEU Archive
Prime Dublin retail property acquired at 2.3% yield
Irish developer David Daly has bought the 'River Island' retail premises on a main shopping street in Dublin for EUR 115 mln. Property advisor Savills Hamilton Osborne King, which acted for Daly, said the purchase price in the off-market deal reflected an equivalent yield of 2.3%. One part of the ...
-
PropertyEU Archive
Leader invests EUR 272m in Moscow project
Leader Real Estate International, a subsidiary of Israel-based Leader Holdings and Investments, has bought a land plot located 70 km from the centre of Moscow. The site has been zoned for 7,000 apartments and 13,000 m[sup]2[/sup] of commercial property with a further 8,000 m[sup]2[/sup] earmarked for public buildings. The project, ...
-
PropertyEU Archive
Pik buys Russian plot for $70m
Russian real estate developer Pik Group announced on Monday that it has acquired a plot of land in the western Russian city of Nizhniy Novgorod. The 20-hectare plot on the River Oka was acquired for about $69 mln through a tender offer, Pik said. The company added that it plans ...
-
PropertyEU Archive
Citycon issues new shares worth EUR 99 m
Finnish property investor Citycon is to offer a maximum of 27,594,782 new shares in a rights issue that could raise EUR 99 mln. The share subscription period starts on 19 September 2007 and will run until 3 October 2007. Current shareholders will be able to purchase one share for every ...
-
PropertyEU Archive
Aisi acquires advertising business in Kiev
Aisi Realty Public, a closed-ended investment company focusing on Ukraine, has purchased an outdoor advertising business in Kiev. It is Aisi's first acquisition since it became an AIM-listed company last month.
-
PropertyEU Archive
Akelius buys across Germany
Swedish real estate company Akelius has bought 1,427 residential units and 30 commercial assets across Berlin, Hamburg, Munich and Kiel from an undisclosed vendor. The financial details of this transaction were also kept confidential.
-
PropertyEU Archive
Segro considers asset spin-off
British REIT Segro has started a structural review that could lead to key assets being spun off into separate funds. The review is at an early stage and no decisions had been taken, the Financial Times newspaper reported, quoting an unidentified source.
-
PropertyEU Archive
IVG, MWB win Epra awards
The European Public Real Estate Association (Epra) has awarded IVG Immobilien and UK-based Marylebone Warwick Balfour (MWB) its Best Performer Awards for 2006. The awards, which are sponsored by Dutch merchant bank Kempen & Co and LaSalle Investment Management, were presented 'for the outstanding share price performance, due to good ...
-
PropertyEU Archive
Bective Leslie Marsh markets sale of Casa Vicens
The Spanish Herrero Jover family has hired London estate agents Bective Leslie Marsh to sell its architectural gem Casa Vicens, newspaper Real Estate Press reported. The building, designed by architect Antoni Gaudí, has been put on the market for a starting price of EUR 35 mln. The paper added that ...
-
PropertyEU Archive
Hansteen pushes shopping trolley into Belgium
Hansteen has made its first acquisition in Belgium for a total of EUR 54 mln. The assets extend over 14 different sites throughout the country. The largest, a fully refurbished industrial building near Naninne in the centre of Belgium comprises 7,125 m[sup]2[/sup] of office and warehouse space. Over half of ...
-
PropertyEU Archive
Doughty Hanson and Liberty buy UK office site
Doughty Hanson & Co and US-based Liberty Property Trust have acquired Blythe Valley Park in the English West Midlands town of Solihull from British Land for £161 mln (EUR 236 mln). The 104-hectare site was developed by British Land in partnership with Solihull Metropolitan Borough council and provides 46,000 m[sup]2[/sup] ...
-
PropertyEU Archive
RE and capital markets strategies seen converging
The rapid globalisation of the financial markets will impel a reappraisal of traditional property investment strategies, spurring investors towards a 'total-return' approach to segmenting their portfolios, according to Joanne Douvas, principal and co-founder of New York-based Clerestory Capital Partners. 'Capital has become extremely global and it is now being ...
-
PropertyEU Archive
Kungsleden sells property to Ikano Fastigheter
Listed Swedish property company Kungsleden is to sell a 11,600 m[sup]2[/sup] office property in Malmo to privately owned Ikano Fastigheter for EUR 28 mln. The Davida 15 property in downtown Malmo was sold for EUR 3.5 mln above book value and EUR 7 mln over the acquisition value.
-
PropertyEU Archive
Israeli fund shops near Paris
The Israeli Yizoom fund has bought two properties near Paris from the Saudi Rana Investment fund for about EUR 25 mln. The deal, financed by Credit Suisse, involves a 8,800 m[sup]2[/sup] building in Yvelines, as well as the 5,600 m[sup]2[/sup] headquarters of Carrefour Carte Pass in Essonne. Yizoom was ...
-
PropertyEU Archive
RGI reveals major interests in shares
RGI, an AIM-listed Moscow property developer part-owned by Morgan Stanley, said on Monday that as of 4 September 2007 it had an indirect interest in 15,005,697 shares, representing almost 11.92% of the issued and allotted shares of the company. MSSL holds 3.11% of the shares and SSF III the remaining ...
-
PropertyEU Archive
Jaguar sells office property in London
Private wealth manager Jaguar Capital has sold 5,000 m[sup]2[/sup] of office space in the City of London to Invesco for EUR 61 mln. The property, at 60 St. Mary's Axe, was bought by Jaguar for EUR 42 mln in July 2003. Jaguar's head of property investment, Dermot Maguire, confirmed that ...
-
PropertyEU Archive
Balfour Beatty awarded EUR 200m UK hospital project
British engineering and construction group Balfour Beatty has announced that its specialist concession unit Consort Healthcare has been awarded a £136 mln (EUR 200 mln) contract to redevelop Salford Hospital in Greater Manchester. Due to open in 2012, the development will involve 36,000 m[sup]2[/sup] of new accommodation and the refurbishment ...
-
PropertyEU Archive
Metrovacesa spends EUR 260m on Madrid's offices
Spanish property company Metrovacesa said on Tuesday that it has invested EUR 260 mln in five ventures in the Madrid office sector. The acquisitions involve two office buildings and three plots of land with a build-on area of 42,000 m[sup]2[/sup].
-
PropertyEU Archive
Neinver to invest EUR 300m in Poland
Spanish real estate company Neinver has said it will develop some 350,000 m[sup]2[/sup] of real estate in the major Polish cities over the next five years. The company plans to invest more than EUR 300 mln in the development projects. Neinver will spend the bulk on the first two projects ...
