All Real Assets articles in Web Issue – Page 154
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PropertyEU Archive
Hypo to complete merger with Depfa
German bank Hypo Real Estate expects to complete the EUR 5.7 bn acquisition of Dublin-based public sector lender Depfa on Tuesday. The European Commission gave its clearance on Friday for what will be the largest takeover ever in Ireland. Both Depfa and Hypo are both listed on the stock exchange ...
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PropertyEU Archive
Tchenguiz in 'early talks' with Erinaceous
Consensus Business Group, owned by real estate investor Robert Tchenquiz, has indicated it might make a bid or take a stake in troubled UK property services company Erinaceous. Responding to media speculation, CBG issued a statement on Monday to stress that it has not made an approach to Erinaceous and ...
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PropertyEU Archive
Financial turmoil to push German yields higher
Yields in Germany's key real estate segments will rise sooner than previously forecast in the wake of the credit crunch, according to Frank Billand, board member of Union Investment, one of Germany's largest open-ended funds. 'With borrowing costs rising and higher equity ratios being demanded, higher yields will be required, ...
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PropertyEU Archive
Union Investment to increase foreign investment
Union Investment, one of Germany's leading open-ended funds, plans to boost the level of new investment to between EUR 1 and EUR 2 bn annually in the next few years with a growing focus on shopping centres. This year new investment is set to hit around EUR 1.5 bn compared ...
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PropertyEU Archive
Echo enters Romania to develop EUR 100m mall
Polish-based Echo Investment has continued its expansion in Central and Eastern Europe by entering Romania to develop a 100,000 m[sup]2[/sup] shopping and entertainment centre project in the city of Brasov in the Southern Carpathians. Echo's subsidiary in Bucharest has signed an agreement for the purchase of a 4-hectare site in ...
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PropertyEU Archive
Fadesa sells EUR 118m in assets
Spanish real estate company Fadesa Immobiliaria has sold hotels and land plots to firms linked to Fadesa's former chairman Manuel Jove for EUR 118 mln. In a statement to Spanish bourse regulator CNMV, Fadesa said six hotels across Spain were sold for just over EUR 30 mln and the land ...
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PropertyEU Archive
Marbleton, Storm agree EUR 140m Russian office venture
The Marbleton Property Fund has formed a joint venture with Moscow-based Storm Properties to develop a 100,000 m[sup]2[/sup] suburban office park on the outskirts of the Russian capital The joint venture recently acquired a nine-hectare land plot for the project, according JER Partners, which along with Russian private equity ...
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PropertyEU Archive
Hypo RE provides EUR 149m financing for two deals
Hypo Real Estate Bank International has announced two major property-financing deals this week. The first involves the provision of EUR 60 mln across three investment facilities to unnamed international clients of Strategic Real Estate Investors, with the final transaction completing on 21 September. Strategic's clients are using the facilities to ...
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PropertyEU Archive
Degi buys EUR 160m Finnish office portfolio
German property fund Degi announced its first move into Finland this week by acquiring a portfolio of five office buildings in Helsinki totalling 59,482 m[sup]2[/sup] for EUR 159.7 mln. The vendor is Finnish insurer Veritas. Degi managing director Malcolm Morgan said that the portfolio would give the fund fast and ...
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PropertyEU Archive
AIB Capital Markets raises EUR 200m for new Polish fund
Irish investment firm AIB Capital Markets (AIBCM) has announced the closure of the fundraising stage for its Polonia Property Fund II, having exceeded its equity target. AIBCM and its wholly-owned Polish subsidiary, AIBPPM, successfully raised EUR 200 mln in equity, which will be leveraged to provide a fund total of ...
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PropertyEU Archive
Aberdeen wins first UK property mandate
Aberdeen Property Investors has been appointed by GM Investment Trustees to manage a portfolio of UK commercial properties valued at EUR 187 mln. This is the first UK property mandate awarded to Aberdeen following the re-establishment of its UK property operation with a seven-person team in June 2007.
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PropertyEU Archive
GPT Halverton makes new acquisitions in Germany
UK-based pan-European real estate investor GPT Halverton has announced that it has made a series of new commercial property acquisitions in Germany. The firm invested about EUR 8.8 mln in the purchase of two office properties in Strasbourg, France, the German border of Offenburg and Puchheim on the outskirts of ...
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PropertyEU Archive
Kofi Annan, Queen Noor to address ULI meeting
Thousands of real estate industry executives will gather in Las Vegas from 23 to 26 October for the Urban Land Institute's annual Fall Meeting. In addition to over eighty development and investment sessions, nine mobile workshops, international investment sessions, the ULI/Stan Ross Real Estate Trends Conference, seminars and networking opportunities, ...
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PropertyEU Archive
Magnat adds to German commercial and residential portfolios
German-based property company Magnat Real Estate Opportunities has added new acquisitions to two of its German portfolios but stresses it will continue to focus on Eastern Europe.
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PropertyEU Archive
Blackrock, Total Produce team up for Dublin project
Blackrock International Land has formed a new 50:50 joint venture with Irish fresh fruit provider Total Produce to acquire 55 hectares of land in Dublin for EUR 25 mln. The lands are located at The Ward in North County Dublin, close to the new N2 motorway.
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PropertyEU Archive
Bulgaria to build first green buildings within 3 years
The first 'green' buildings in Bulgaria will be constructed within the next three years, forecasts Atanas Garov, managing director of Colliers International Bulgaria.
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PropertyEU Archive
HDG fund sells Swedish property for EUR 80m
The Shariah-compliant HSBC Amanah Global Properties Income Fund has sold an office building in Kista, Stockholm to Morley's European Property Fund for EUR 80 mln. The property is let to telecommunications giant Ericsson, according to a statement released by HDG Mansur, manager of the HSBC Amanah fund.
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PropertyEU Archive
Icade to take 95% stake in Mr Bricolage
French construction group Icade is to increase its stake in the French property company Mr Bricolage. The takeover on 1 January 2008 will see Icade Group take control of 95% of the capital of Mr Bricolage. The deal will involve 32% by converting the BRS (Bonds Redeemable in Shares) it ...
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PropertyEU Archive
AAIM bets on Germany's rebound
UK property fund manager AAIM plans to launch a new pan-European fund shortly after having built up a EUR 2 bn portfolio across Continental Europe over the last year. The new fund will have about the same size as its £2 bn (EUR 2.8 bn) older brother Symmetry.
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PropertyEU Archive
CBRE fund acquires eight buildings in Germany
CB Richard Ellis Strategic Partners Europe Fund III has acquired its first assets in Germany with the purchase of eight properties in Hamburg, Dusseldorf, Frankfurt and Munich. The portfolio comprises a total area of 69,000 m2, of which more than 60% is office space and around 20% is residential. The ...
