All Real Assets articles in Web Issue – Page 152
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PropertyEU Archive
Aedes fund buys EUR 14m Milan property
Italian property firm Aedes BPM said its closed-end investment fund Investietico had acquired a commercial and office building in Milan for EUR 13.8 mln. The building was sold by Rreef Fondimmobiliari on behalf of its Piramide Globale closed-end investment fund.
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PropertyEU Archive
Sonae Sierra opens EUR 54m mall in Portugal
Portuguese property firm Sonae Sierra said it has opened its EUR 54.3 mln shopping centre development in the northern Portuguese town of S. Joao da Madeira. The 30,477 m[sup]2[/sup] centre is an expansion of the existing Modelo shopping centre. The opening of the new development brings Sonae Sierra's total number ...
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PropertyEU Archive
Kungsleden negotiating EUR 541m divestment
Listed Swedish property company Kungsleden is to sell a SEK 5 bn (EUR 541 mln) portfolio of commercial property to Norwegian asset manager Orkla Finans Kapitalforvaltning. Kungsleden said on Thursday that a letter of intent had been signed to give the Norwegian company the exclusive right to conduct due diligence ...
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PropertyEU Archive
Goodman's Eurozone fund of funds returns 9.6% in first half
Goodman Property Investors, the investment unit of the real estate group Goodman, said on Thursday that its Eurozone fund of funds has posted a return of 9.6% from the end of last year, and is on its way to meet the targeted 10% return per annum. In 2006, Goodman raised ...
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PropertyEU Archive
PERP invests EUR 82m in Prologis fund
Listed property firm Prologis European Properties (PERP) has invested EUR 82.35 mln in Prologis European Property Fund II. The investment was fully funded from existing credit facilities. PERP plans to invest a total of EUR 900 mln in the fund, which is targeting total investment of EUR 3 bn.
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PropertyEU Archive
AIB buys Warsaw outlet centre for Polish fund
Irish investment firm AIB Capital Markets and its wholly-owned unit AIBPPM have acquired The Fashion House Outlet Centre, a designer outlet centre in Warsaw. The outlet centre is the first property acquired for AIB Capital Markets' second Polish property fund, Polonia Property Fund II Limited. The acquisition price was not ...
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PropertyEU Archive
Banks, Zara boss bid for Santander's real estate
Deutsche Bank, Goldman Sachs and Inditex chairman Amancio Ortega have reportedly made bids for all or parts of the EUR 4 bn real estate portfolio that Spanish bank Santander put on the market this summer to fund its offer for Dutch peer ABN Amro.
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PropertyEU Archive
Redilco RE, Inpartner sign first leasing at Buondi
Italy's Iniziative Milano Ovest, a joint venture between Redilco Real Estate and Inpartner, has reached agremeent with Modisti on the leasing of 14,000 m[sup]2[/sup] of space at the newly-developed Buondi business park in Cornaredo, near Milan. The Buondi site was previously an industrial area. The joint venture bought the site ...
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PropertyEU Archive
Rugby Estates buys JRPA Properties
Rugby Estates Investment Trust has purchased the entire issued share capital of JRPA Properties (JRPA) from private investors for almost 18 mln (EUR 26 mln). The deal is the second aquisition by the UK company following the completion of its £50 mln placing on London Stock Exchange in May 2007. ...
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PropertyEU Archive
Golden Tulip changes strategy in the UK
Golden Tulip Hospitality intends to purchase hotel assets directly in the UK, now that 15 of its hotels and developments have been sold to Whitbread. The hotel group is making an initial sum of £50 mln available for acquisitions in the UK, where it expects 20 Tulip Inns and 10 ...
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PropertyEU Archive
Aedes H1 operating profits up 22.5% to EUR 45m, net profit falls to EUR 16m
Italian real estate company Aedes said its operating profits rose 22.5% to EUR 45.1 mln in the first six months of 2007 as net revenues rose 28% to just under EUR 100 mln. The company said that both figures were in line with its business plan targets, although net profit ...
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PropertyEU Archive
UBS buys Spanish mall for EUR 100m
Swiss bank UBS has bought the Metromar shopping centre near the Southern Spanish city of Seville for about EUR 100 mln. The mall was purchased by UBS from the Spanish developer Novaindes on behalf of the UBS Lux Real Estate fund. This is the first acquisition of a Spanish shopping ...
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PropertyEU Archive
Warimpex to develop EUR 120m complex in St. Petersburg
Warimpex Finanz- und Beteiligungs has got approval from St. Petersburg's city authorities for the first development phase of its 85/15 joint venture project with St. Petersburg Airport. Warimpex will build the Airportcity business park on a 62,000 m[sup]2[/sup] site at the international Pulkovo 2 Airport.
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PropertyEU Archive
Great Portland sells Met Building for EUR 153m
Great Portland Estates (GPE) is selling the 110,000 square foot (10,219 m2) Met Building to Lazari Investments for £107 mln (EUR 153 mln). The sales price represents a net initial yield to the purchaser of 4.1%. Great Portland said the transaction price is in line with the property's book value ...
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PropertyEU Archive
Riofisa presents EUR 175m mixed-use project for Plovdiv
Spanish listed retail specialist Riofisa has presented Civis, a new shopping centre to be developed in the Trakiya residential district of Plovdiv, the second-largest city of Bulgaria.
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PropertyEU Archive
Mapic 2007 awards: 42 projects from 19 countries presented
A total of 42 projects from 19 countries have been presented for the 2007 awards for Mapic, which will be held in Cannes, France from November 14 to 16. Half of the projects presented are for shopping centres, a new award category that has been added this year for those ...
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PropertyEU Archive
Habitat to sell EUR 545m real estate by end-2008
Spanish real estate group Habitat is to dispose of EUR 545 mln worth of properties by the end of 2008 as part of an agreement reached with its creditor banks. Last year, the company borrowed EUR 1.74 bn to fund the takeover of its peer Ferrovial. Habitat said it has ...
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PropertyEU Archive
Aisi Realty portfolio valued at $40.5m
Ukrainian property investor Aisi Realty said property valuer DTZ had valued it total portfolio at $40.5 mln (EUR 28.6 mln) as of 1 August 2007, without giving an earlier value. The valuation will be used to calculate the number of warrants to be issued under the terms of the Founding ...
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PropertyEU Archive
DDC acquires land plots for Romanian development
Dawnay, Day Carpathian (DDC) has acquired two land plots covering a total area of 24,500 m[sup]2[/sup] in Arad, Romania for a multi-purpose development project.
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PropertyEU Archive
C&W appointed letting agent for Capital Square
Cushman & Wakefield has received the mandate from German property developer Hochtief to act as the exclusive letting agent for its 38,000 m[sup]2[/sup] Capital Square office development.
