All Real Assets articles in Web Issue – Page 153
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PropertyEU Archive
Atlas Estates sells stake in Nove Vajnory Project
Property Investment company Atlas Estates has sold a 28.25% stake in a joint venture which owns the Nove Vajnory Project in Bratislava, Slovakia to its Slovak partner Eastfield for EUR 7 mln. As a result of the sale, Atlas will hold a 50% stake in the Nove Vajnory Project.
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PropertyEU Archive
Wichford buys Dutch and French office buildings
Wichford, a property investment company listed on the AIM segment of London Stock Exchange, is acquiring office buildings in France and the Netherlands for a combined investment of EUR 42 mln.
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PropertyEU Archive
Societe de la Tour Eiffel pre-lets CityZen
Societe de la Tour Eiffel, a French real estate investment company has pre-let its 6,800 m[sup]2[/sup] office development CityZen at Boulevard National in Rueil Malmaison, near Paris, almost a year prior to the planned delivery in mid 2008. The future tenant is Soletanche Bachy, subsidiary of the Vinci Group, and ...
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PropertyEU Archive
Provinzial sells Crowne Plaza Hotel in Cologne
Provinzial Lebensversicherung has sold the 301-room Crowne Plaza Hotel at Rudolfplatz in Cologne to a group of Spanish investors. The purchase price was EUR 50 mln, according to newspaper Kolner Stadt-Anzeiger. The Spanish investors intend to re-open the hotel, which is now operated by Intercontinental Hotel Groups, under another brand ...
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PropertyEU Archive
European Commission rounds off deal enquiry
The European Commission said on Friday that its inquiry into the proposed acquisition of 149 properties and four real estate companies by Citibank International and Corpus Immobiliengruppe will be completed on 29 October. The two companies are cooperating in the purchase through their investment vehicle CPI Capital Partners Europe. The ...
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PropertyEU Archive
Multi Development Italy opens I Petali di Reggio mall
Multi Development has announced that the last phase of its I Petali di Reggio shopping centre has opened. This phase includes six brands from the Inditex group, together with other national and international retailers. The 28,500 m[sup]2[/sup] mall will introduce totally brands into the Northern Italian city of Reggio Emilia, ...
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PropertyEU Archive
Immofinanz pays dividend for first time
Austrian real estate company Immofinanz is to pay dividend for the first time after shareholders approved the board's motion to return 33 cents per share for the fiscal year ending 30 April 2007. Immofinanz said the total payout to shareholders will amount to EUR 150 mln.
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PropertyEU Archive
Erinaceous reshuffles top as it posts pre-tax loss
Erinaceous said it swung to pre-tax loss of £3.9 mln at June 2007 from a profit of £12 mln in June 2006. The 'property support services company, which published its half-year results on Thursday, said that it 'will not meet the market expectations for the full year', and announced it ...
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PropertyEU Archive
Unicredito mulls sale of Fimit stake
Bank Unicredito Italiano is reportedly considering selling the majority stake that smaller rival Capitalia owns in the real estate fund management firm Fimit. Bank Unicredito and Capitalia recently agreed to merge.
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PropertyEU Archive
King Sturge join forces with new Irish partner
King Sturge announced on Friday that it has launched a new joint venture with the Dublin-based commercial property advisor HT Meagher O'Reilly in a move aimed at enabling 'both firms to expand their range of services to their existing and new clients.
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PropertyEU Archive
FTSEpx fund records 1.17% return in Q3
MSS Real Estate's TFSEpx fund recorded a net return of 1.17% for the quarter ending September 2007, bringing the year-to-date performance to 5.09%. MSS said this reflected the general slowdown in the UK commercial proprty sector. 'The fund's sub-sector performance reflects the predictions of many commentators in the UK market ...
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PropertyEU Archive
GTC sells EUR 120m Bucharest office building
Global Trade Centre Real Estate (GTC) has signed the final agreement for the sale of the America House Building in Bucharest to PBW II Real Estate Fund for EUR 120 mln. GTC is the real estate subsidiary of Kardan, the Tel Aviv and Amsterdam-listed investment company. Kardan said it will ...
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PropertyEU Archive
Conwert spends EUR 216m in strategic repositioning
Vienna-listed Conwert Immobilien is to acquire 25 real estate management and service providers for EUR 216 mln in order to reposition itself away from a pure real estate investor to property management and real estate services. Conwert said its goal is to transform itself into an 'integrated, full service European ...
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PropertyEU Archive
50 Russian companies to attend Expo Real
Over 50 exhibitors from the Russian Federation are to be represented at the 10th Expo Real in Munich next week - the largest ever delegation from the region. Compared to 2006, this is a 25% increase in participation by the Russian Federation, according to Messe München International (MMI), the organiser ...
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PropertyEU Archive
Equest completes 75% acquisition of Romanian retailer
Equest Investments Balkans (EIB) has announced that its subsidiary Lynx Property has completed its purchase of a 75% stake in Romanian consumer and electronics retailer Domo. The acquisition, announced in July, was made for EUR 62.5 mln. Domo currently operates 116 retail outlets in major cities throughout Romania.
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PropertyEU Archive
Kungsleden adds to German retirement home portfolio
Swedish property company Kungsleden is acquiring two retirement homes near Dusseldorf for almost EUR 15 mln, reflecting a yield of 6.7%. The transaction is part of the company's strategy to build up a portfolio of EUR 533 mln of retirement homes holding in Germany by the end of 2008.
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PropertyEU Archive
Quintain adds retail park to Wembley ownership
Quintain Estates and Development has bought the 5.2 hectare Wembley Retail Park in London for EUR 122 mln, extending its ownership at Wembley to 34.4 hectares. The park, currently under redevelopment, was purchased from The Junction Ltd Partnership, a retail-park fund managed by Capital and Regional. Quintain said it will ...
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PropertyEU Archive
Pirelli, HSH form asset management partnership
Pirelli RE is teaming up with one of Germany’s top real estate banks in its bid to dominate the country’s asset management activities. HSH Nordbank is a commercial bank conducting its property activities through HSH Real Estate, which operates in equity investments, project development, services and the fund business. In ...
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PropertyEU Archive
Segro buys business space in Dusseldorf
London-listed Segro, one of Europe's biggest providers of flexible business space, has acquired a 161,000 m[sup]2[/sup] site on the outskirts of Dusseldorf for EUR 18.8 mln. It was purchased from Scandinavian forest products company Stora Enso. The current factory will close by the end of the year and the buildings ...
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PropertyEU Archive
DDC buys four more properties in Central Europe
Dawnay Day Carpathian (DDC), the fund management arm of the London-based Dawnay Day Group, is adding to its Central and Eastern European portfolio with a purchase of four properties from Austrian-based MID group for EUR 67.7 mln. Two of the properties are in the Czech Republic - a 22,000 m[sup]2[/sup] ...
