All Real Assets articles in Web Issue – Page 148
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PropertyEU Archive
Kenmore buys UK retail scheme for EUR 29m
UK-based commercial property investor and developer Kenmore has purchased the New Broadmead retail scheme in Bristol from ING Real Estate for EUR 29 mln. The price for the 5,700 m[sup]2[/sup] scheme reflects a net initial yield of 5.8%. Located on Union Street, the island site comprises 16 units and the ...
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PropertyEU Archive
Trigranit takes 50% stake in Moscow developer
Trigranit has signed an agreement to purchase a 50% stake in Torgoviy Kvartal Group, a developer of shopping and leisure centres in the Moscow area. The partnership will tap into the growing potential of the Russian market and bring to life new projects valued at more than EUR 1 bn ...
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PropertyEU Archive
Qatar tipped to acquire slice of the Shard
The Qatari government is understood to have nudged ahead of rival Pramerica, the US financial institution, to secure a one-third stake in the £400 mln Shard development, the Financial Times has reported.The 72-storey skyscraper in London, which will be the tallest tower in the UK, was being developed by property ...
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PropertyEU Archive
CGG wins Scope Award for Hausinvest Europa
Commerz Grundbesitz Group (CGG) has won the 2007 Scope Award for its property fund Hausinvest Europa. The jury choose the fund over two other nominees in the category 'Open-End Property Funds, Europe' because it said the investment strategies defined CGG had been consistently implemented, and that portfolio competence and financial ...
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PropertyEU Archive
ING Real Estate to redevelop Brussels mall
ING Real Estate said on Wednesday that it has been contracted to redevelop the 15,000 m[sup]2[/sup] Galerie de la Toison d'Or (Golden Fleece) shopping centre in Brussels. The owners have commissioned ING Real Estate to modernise the premises and to enhance the retail mix. The number of retail units will ...
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PropertyEU Archive
ECDC, Dickau to develop Bucharest offices
Isle of Man-based European Convergence Development Company and Dickau Investments, one of Romania's largest developers, have begun joint venture negotiations to co-develop offices in Bucharest. The A class office project will be built via a special purpose vehicle and the deal will include the acquisition of a 50% interest in ...
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PropertyEU Archive
Dutch law change effects real estate share purchases
Changes to the transfer tax in the Netherlands has serious implications for the sale of shares in an entity qualifying as a 'real estate entity,' according to RechtStaete real estate lawyers & tax advisers. The new regime was outlined in the Dutch budget on Tuesday and will come into operation ...
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PropertyEU Archive
Irish continue to look for trophy deals
Wealthy Irish investors are continuing to invest in overseas property and deals of EUR 1 bn are not unusual, a tax partner at Pricewaterhousecoopers (PwC) Real Estate in Dublin has said. According to Enda Faughnan, PwC, Irish investment syndicates will continue to look for trophy property deals abroad, particularly in ...
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PropertyEU Archive
Rynda snaps up EUR 110m portfolio in France
Rynda Property Investors, acting on behalf of its French Rynda en Primeur fund, has purchased the Papillon office portfolio for about EUR 110 mln from Paris Office Fund II, a fund managed by AXA Reim France. The portfolio comprises seven properties across the French cities of Lille, Aix, Toulouse, Orleans ...
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PropertyEU Archive
Hypo takes stake in EUR 2.5 bn real estate loan
The international arm of Germany's Hypo Real Estate Bank has taken a 27% stake in a 3-month bridging loan of AUD 4.2 bn (EUR 2.5 bn) granted to Post Financier Pty for the acquisition of Investa Property Group, the largest sector-specific office trust in Australia. The loan was arranged by ...
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PropertyEU Archive
Gebhard Real Estate AG places EUR 20 mln mortgage loan
German company Gebhard Real Estate has placed its first mortgage loan. The EUR 20 mln transaction marks the entry of Gebhard Real Estate into the market for mortgage loans secured by land register entries.
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PropertyEU Archive
Tour Mozart wins 2007 Eco Building award
The Tour Mozart project by French developer Bouygues Immobilier has won the 2007 Grand Prix Eco Building Performance award for high-rise buildings. The other entrants during the Eco Building Performance fair from 18 to 20 September 2007 in Paris were the Bank of America tower in New York, designed by ...
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PropertyEU Archive
Immofinanz's EBIT rises 26% in first half
Immofinanz, one of Austria's biggest listed real estate company said on Thursday its earnings before tax (EBT) rose 43.5% year-on-year from EUR 119.4 mln in the first half of 2006 to EUR 171.3 mln in mid-2007. Operating profit (EBIT) reached EUR 183 mln, up from EUR 144.9 mln, reflecting a ...
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PropertyEU Archive
Redevco acquires Sud Ouest HQ
Redevco France is buying a 25,000 m[sup]2[/sup] complex in the historic heart of Bordeaux from the Sud Ouest newspaper group. The site, which occupies one hectare of land bordering the Rue Sainte Catherine, houses the newspaper's editorial and administrative offices. The total investment in the project exceeds EUR 100 mln ...
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PropertyEU Archive
Swiss advisor crosses into Germany
Swiss real estate advisor Wuest & Partner has opened a new subsidiary, W&P Immobilienberatung, in Frankfurt in response to what it said was the rising demand for such services in the German market. Wuest & Partner has offices in Geneva and Zurich.
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PropertyEU Archive
King Sturge links up with Irish advisor
King Sturge and Dublin-based property advisor HT Meagher O'Reilly have agreed a formal association. British-based King Sturge has a network of offices in Europe providing commercial and residential property advise, while HT Meagher O’Reilly has handled over EUR 2 bn worth of property transactions in Ireland. High profile deals that ...
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PropertyEU Archive
CBRE: green agenda gaining momentum in Irish property market
Incorporating sustainable and energy efficient designs will soon be an expectation as opposed to an exception in the Irish commercial property market, according to a report by real estate advisor CB Richard Ellis. While market players have yet to fully embrace sustainability and its potential implications, this is set to ...
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PropertyEU Archive
Jones Lang LaSalle forms Baltic alliance
Global property advisor Jones Lang LaSalle (JLL) has formed a partnership with Re&Solution, an independent real estate consultancy operating in Latvia, Lithuania and Estonia.
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PropertyEU Archive
IVG buys two Munich assets
Germany's IVG Development has acquired two building projects in Munich from Aurelis Real Estate for an undisclosed amount. The sites in central Munich will provide 21,500 m[sup]2[/sup] and 6,600 m[sup]2[/sup] of office space respectively. Construction is due to start in the spring of 2008, with completion planned for the autumn ...
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PropertyEU Archive
CapMan RE II to develop mall with Finesco Invest
CapMan RE II fund has entered into an agreement with Finesco Invest for the development of a shopping centre in the southern Finnish town of Hyvinkaa. CapMan RE II is the first private equity fund in Finland to focus on property development. The fund also makes selected investments in finished ...
