All Real Assets articles in Web Issue – Page 147
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PropertyEU Archive
Development Securities sells Oriental City
The listed UK real estate developer and investor Development Securities has agreed to sell the Oriental City retail scheme in Colindale, London to a private property investor. The purchase price has not been disclosed, but completion is set for November 29th, when Development Securities will realise a net gain of ...
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PropertyEU Archive
Credit crisis cuts into Shard development
Property company CLS has warned that construction of the Shard tower in the British capital may be delayed because the turmoil in the financial markets has driven up the cost of borrowing. The 72-storey glass-covered skyscraper, designed by Renzo Piano, is also known as London Bridge Tower. Its proposed height ...
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PropertyEU Archive
Parkridge opens its first Polish mall
Pan-European commercial property developer has opened a 42,000 m[sup]2[/sup] shopping centre in Rybnik, Poland. The scheme is the first of six Polish centres to be opened in under the Focus Park brand, and is fully let to retail tenants including C&A, Orsay, Alma and Vistula and the cinema operator Multikino. ...
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PropertyEU Archive
SEB fund invests in Southern France
SEB Immobilien-Investment has agreed to acquire five building developments in Aix en Provence, near Marseille from French developer Bouygues Immobilier. SEB said it will invest about EUR 23.3 mln (net) in the 42,590 m[sup]2[/sup] properties, which are located in the Parc de la Duranne development district.
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PropertyEU Archive
International investors purchase EUR 170m portfolio in Cologne
Cologne-based real estate company Lammerting has sold a property portfolio to international investors for EUR 170 mln. The portfolio, consisting largely of buildings in Cologne's technology park, was sold in August, German property newspaper Immobilien Zeitung reported. Udo Lammerting said his company got its timing right, as such a deal ...
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PropertyEU Archive
PIK buys EUR 34 m plot for Moscow housing scheme
Pik Group, one of Russia's biggest property developers, has bought a 73,000 m[sup]2[/sup] site in the south of Moscow for EUR 34 mln. The residential real estate specialist plans to develop the area for mass-market housing. A typical Pik property is at the affordable end of Moscow housing market, selling ...
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PropertyEU Archive
Kungsleden acquires 43 assets in Sweden
Swedish property company Kungsleden is acquiring 43 properties from the municipality of Swedish town of Harnosand for EUR 98 mln. The properties include retirement homes, pre-school buildings and schools. Kungsleden describes itself as a frontrunner in the trading and managing of special requirement properties in Sweden.
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PropertyEU Archive
Capman acquires commercial property in Helsinki
CapMan RE fund I has acquired a warehouse and office property in the Konala district of Helsinki. The fund is managed by CapMan, one of the leading private equity investors in the Nordic countries. The property is fully leased and has a maximum lettable area of some 7,055 m[sup]2[/sup].
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PropertyEU Archive
Polis Fondi acquires Italian logistics portfolio
Italy's Polis Fondi has bought four logistics buildings in Italy from Cogefin. The acquisition price of EUR 20 mln reflects a net yield of 7.25%. The properties are located in Trezzano sul Naviglio near Milan, Crespellano near Bologna, Santa Maria di Sala near Verona and Sassari in Sardinia. The assets, ...
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PropertyEU Archive
Expo Real adds a career day for students
The 10th edition of the Expo Real international commercial property exposition in Munich will include a Careers Day for students and graduates and, for the first time, a Jobs Forum, where potential players in the property market will have a chance to talk to established professionals with many years of ...
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PropertyEU Archive
Stam Europe picks up more offices around Paris
Using a financial lease buyout, commercial real estate investor STAM Europe has acquired two office properties in the Paris region for undisclosed amounts. The first has been acquired from Foncière Newton and is a 10,000 m[sup]2[/sup] office complex consisting of four buildings fully let to the Valéo Group, located in ...
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PropertyEU Archive
Edesa to sponsor sustainable award in Barcelona
Spain's largest electrical utility company, Edesa, is to sponsor the sustainable development awards at the Barcelona Meeting Point international real estate symposium. The awards aim to spread and foster sustainable real estate development, as well as to recognize those developers that are already working in this direction. The jury will ...
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PropertyEU Archive
Sofidy buys retail portfolio in Paris
Sofidy has acquired a portfolio of shops in Paris for EUR 40 mln from an unnamed vendor on behalf of SCPI Immorente and the listed investment company Selectirente. The fully-let portfolio comprises more than 80 retail units providing a total of 8,700 m[sup]2[/sup].
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PropertyEU Archive
New NAV model for non-listed real estate funds
A new calculation methodology for the presentation of net asset value (NAV) has been launched by the European Association for Investors in Non-listed Real Estate Vehicles (Inrev) at a conference in Berlin. As reported in the September edition of PropertyEU Magazine, the new NAV model is designed to allow investors ...
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PropertyEU Archive
Inrev outlines fee metrics guidelines
The European Association for Investors in Non-Listed Real Estate Vehicles (Inrev) has launched new guidelines on the disclosure of fee structures for private institutional property funds, which aim to increase transparency and facilitate the comparison of fund structures.
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PropertyEU Archive
Varna Logistics gets loan to revamp park
Varna Logistics has procured a EUR 22 mln loan facility to fund the development of its 132,500 m[sup]2[/sup] logistics park in Varna, the third largest city in Bulgaria. The park is the company's sole asset. Varna Logistics was bought in October 2006 by Bulgarian Property Developments (BPD) and FairPlay Commercial ...
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PropertyEU Archive
Westbrook shops near Paris
Westbrook Partners has bought some 10,000 m[sup]2[/sup] of office space in the Charras office tower in Courbevoie, near Paris. The property, which also includes some 150 parking spaces, will be fully refurbished by Newstone Management. Delivery is scheduled for October 2008. The financial details of this transaction were not diclosed. ...
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PropertyEU Archive
European retail investment slows in H1
Retail accounted for just 18% of direct real estate investment volumes in Europe during the first half of 2007. 'This is down from an average of 25% in previous years, reflecting a general concern about the retail sector', Simon Marx, head of property forecasting and analysis at consultancy Experian, told ...
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PropertyEU Archive
Failed property deal leaves pub group with £140m hangover
Mitchell's & Butlers, the largest pub operator in the UK, has seen a liability stemming from a failed property deal more than double since August. Back in July M&B agreed to set up a £4.5 bn sale and leaseback joint venture with R20, an investment vehicle controlled by Iranian property ...
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PropertyEU Archive
Pramerica, Banimmo invest EUR 200 mln in French retail venture
Pramerica Real Estate Investors has formed a joint venture with Belgian-French property redeveloper Banimmo to develop and refurbish retail properties in France. Pramerica will initially contribute up to EUR 40 mln, representing 66% of the EUR 60 mln of equity committed to the joint venture with the balance provided by ...
