All Real Assets articles in Web Issue – Page 145
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PropertyEU Archive
Investors shun Hungary
Hungaria's commercial investment market is expected to decelerate further in 2007 after dropping about 25% year-onyear to EUR 750 mln in 2006. 'With interest rates rising and the rate of yield compression slowing it is noticeable that investors are having to pay more attention to the risk element of possible ...
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PropertyEU Archive
Multi to build 20 Forum projects in Turkey by 2010
Multi Turkmall, part of Dutch-based Multi Corporation, plans to develop 20 Forum retail projects in Turkey by 2010. Multi Turkmall has started construction of two new projects in the country: Forum Aydin located in Aydin, the largest city in the Aegean Region of Turkey, and Forum TEM in Istanbul.
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PropertyEU Archive
Re/Max to expand further in Eastern Europe in 2008
Denver-based real estate agent Re/Max views Europe as the motor of its international growth. The business, which operates on a franchise basis, already has 1,500 offices across 36 European countries and plans to expand further in Central Eastern Europe next year. 'We have now arrived at Poland's most eastern border, ...
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PropertyEU Archive
Castellum acquires commercial properties for EUR 28m
Listed Swedish property company Castellum has acquired two more commercial properties in the country through two of its subsidiaries. The first is a mixed-use property located in Hisingen, on the outskirts of Gothenburg, bought by Eklandia Fastighets for SEK 210 mln (EUR 22.4 mln). Of its total lettable area of ...
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PropertyEU Archive
Turkish builder buys out Ramstore retail chain for EUR 389m
Migros Turk has agreed to sell a 50% stake in Russian retail chain Ramstore to Turkish developer Enka Insaat Sanayi for EUR 389 mln, Russian newspaper Kommersant reported on Wednesday. Enka already holds the other 50% of Ramstore, owner of 10 shopping centres and over 50 supermarkets in and ...
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PropertyEU Archive
Prupim acquires HSBC property in sale and leaseback
Prupim has purchased HSBC Bank's Park Street building in London in a sale and leaseback deal. The transaction price of £103 mln (EUR 150 mln) reflected an initial yield of 4.72%. Prupim, the real estate arm of UK financial services group Prudential, made the purchase on behalf of one of ...
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PropertyEU Archive
CGG completes Czech acquisition
Commerz Grundbesitz Gruppe (CGG) has completed the acquisition of the Charles Square Center (CSC) in Prague for EUR 90 mln. The property was bought from Irish investor Quinlan Private on behalf of CGG's open-end property fund, HausInvest Global. The nine-storey building was completed in 2002 and is almost fully let. ...
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PropertyEU Archive
Astroc, Aisa agree to merge
Spanish developer Astroc Mediterraneo and Catalan property company Aisa have agreed to merge and are expected to close the deal next month, newspaper La Gaceta de los Negocios reported. Astroc is already merging with its 50%-owned units Rayet Promocion and Landscape. Astroc bought a 54% stake of Rayet last October ...
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PropertyEU Archive
Great Portland agrees major office pre-let
Great Portland Estates has pre-let the entire office element of a major refurbishment and extension scheme in the West End of London. The Engine Group, a communication and advertising business, has agreed to take a 20-year lease on 60,000 square feet (5,600 m2) over the basement and five floors at ...
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PropertyEU Archive
DIC Asset to be listed in FTSE EPRA Index
DIC asset said on Thursday that it will be listed in the FTSE EPRA/NAREIT Europe Index later this month. The index charts the performance of the biggest and most liquid European and North American listed real estate stocks in a total of 28 countries. DIC Asset's shares will be added ...
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PropertyEU Archive
Benelux investment continues powerful upward momentum
Real estate investment in both Belgium, Netherlands and Luxembourg hit a new record in the first half of 2007, according to research from Jones Lang LaSalle. Belgium saw EUR 2.3 bn invested by the first six months of the year, an increase of 35% on the same period in 2006. ...
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PropertyEU Archive
F&C to consider future of company
Guernsey-registered F&C Commercial Property Trust has called an extraordinary general meeting of shareholders to be held on 28 September to decide whether the AIM-listed closed-ended property investment company should continue operating. When it was launched on 18 March 2005 the prospectus stated that the directors would call such an EGM ...
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PropertyEU Archive
Martinsa-Fadesa to develop tourist resort in Morocco
Spanish real estate firm Martinsa-Fadesa signed an agreement on Thursday for the development of a tourist complex on the Moroccan coast. The resort will cover an area of 695 hectares and will include a shopping centre, luxury hotel, and 4,000 homes in the Playa Blanca district, Spanish news agency Efe ...
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PropertyEU Archive
Wichford sells two UK properties in European refocus
Property investment firm Wichford announced the disposal on Wednesday of two UK properties for a total consideration of £19 mln (EUR 27 mln). Wichford said that the properties no longer fit its investment criteria. 'The sale of these UK properties is in line with our stated strategy of re-balancing ...
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PropertyEU Archive
National Grid mulls property sell-off
National Grid is investigating the possible sale of its portfolio of non-operational property assets, comprising 500 former gasworks on more than 1,000 hectares of land, in what would be one of the largest corporate disposals of property assets in the UK. The electricity and gas networks operator confirmed that property ...
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PropertyEU Archive
Rutley to complete EUR 163 mln purchase
Rutley European Property said it will complete the purchase of a large commercial portfolio on 1 October at the latest. The portfolio consists of 19 properties across France, Germany and the Netherlands and is being acquired for EUR 163 mln, reflecting a gross initial yield of 6.79%. It is made ...
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PropertyEU Archive
Spain's Anjoca to invest EUR 2.5 bn abroad
Spanish real estate company Anjoca aims to build up EUR 2.5 bn worth of investment outside its home market in the coming three to five years. The firm, which is headed by Angel Jove, added that it will seek a stock market listing when market conditions improve, Spanish newspaper Cinco ...
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PropertyEU Archive
Russia's RBI to invest EUR 360m in regional expansion
RBI Holdings, a Russian property developer and investor active in the city of St Petersburg, plans to invest $500 mln (EUR 360 mln) in the next two years to acquire land plots in other Russian regions as it launches an expansion strategy designed to make it a national player.
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PropertyEU Archive
Santander to get binding offers for EUR 4 bn portfolio
Spanish financial giant Banco Santander has received several informal offers from foreign banks for its EUR 4 bn property portfolio, according to Spanish newspaper Cinco Dias. The paper added that Santander hopes to collect binding offers by the end of this month. Santander announced last June that it was to ...
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PropertyEU Archive
Segro 'to sell' EUR 727m UK portfolio
British industrial park developer Segro has undergone a major shake-up of senior management and is set to sell a £500 mln (EUR 727 mln) portfolio in the UK, the Daily Telegraph reported Friday.
