All Real Assets articles in Web Issue – Page 155
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PropertyEU Archive
JP Morgan announces strategic new appointments
Investment bank JP Morgan has announced four new appointments in its French and Italian real estate structured finance business. In a coup for the company, all four appointees were previously with ABN Amro. According to Jon Rickert, head of European real estate structured finance at JP Morgan, the strategic ...
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PropertyEU Archive
Unleveraged players see benefits in credit crisis
The global credit crisis is good news for the more established real estate players with ready access to equity, according to Jean Francois Ott, CEO of Orco Property Group. 'The credit crunch may slow the market down,' he said in an exclusive interview in the upcoming edition of PropertyEU Magazine.
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PropertyEU Archive
Unibail-Rodamco names two to supervisory board
Rencently-merged property group Unibail-Rodamco is to add two new members to its supervisory board. The company has said it will propose the appointment of Mary Harris and Alec Pelmore at the AGM in April 2008. Previously a Partner with McKinsey & Cie in their Singapore and Amsterdam offices, Mary Harris ...
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PropertyEU Archive
Hypo completes Depfa takeover
Germany's Hypo Real Estate Group has completed the EUR 5.7 bn acquisition of Dublin-based Depfa Bank to create a major new provider of commercial real estate and public sector lending. The largest takeover in Irish history was approved by the Irish High Court on Tuesday, days after Depfa's shareholders gave ...
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PropertyEU Archive
Epra expects more listed real estate
Around 10% of European real estate stock will be floated in the next five to ten years, claims Nick van Ommen, the outgoing CEO of the European Public Real Estate Association (EPRA). Currently the figure is less than 7% of a total figure of more than EUR 7 tln.
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PropertyEU Archive
Tishman Speyer sees flight to quality in German market
The global credit crunch will have an impact on the most sought-after type of assets in Germany, says Eric Adler, managing director of European acquisitions at Tishman & Speyer in an interview in the upcoming edition of PropertyEU. 'In the last period, people didn't care anymore about what they were ...
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PropertyEU Archive
Paris tops hotel room sales survey
Paris leads the field in hotel room sales according to the lastest survey by UK-based company TRI Hospitality Consulting. The review of European hotel chains shows that Paris had the best rate and revpar during August with revenue per available room (revpar) up 15.7% to EUR 163.53. London was ...
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PropertyEU Archive
Paris tops hotel room sales survey
Paris leads the field in hotel room sales in the latest survey by UK-based company TRI Hospitality Consulting. The review of European hotel chains shows that Paris had the best rate and with revenue per available room (revpar) during August. Revpar was up 15.7% to EUR 163.53. London was close ...
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PropertyEU Archive
HIH plans to dissolve 11 closed-end Behne funds
German property investor Hamburgische Immobilien Handlung (HIH) said it plans to dissolve 11 of its 27 closed-end property funds. Combined with five participation offers from BHF Bank, the value of the total package is estimated at between EUR 250 mln and EUR 300 mln. The underlying 200,000 m[sup]2[/sup] of property ...
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PropertyEU Archive
Fadesa sells hotels and land for EUR 118m
Fadesa Inmobiliaria said that it has sold six hotels and a plot of land in Spain to its former chairman Manuel Jove for a total of about EUR 118 mln. The properties, located mostly in Galicia, include the Portazgo, As Galeras, Balneario de Villalba, Husa Valles, Front Maritime-Husa Barcelona hotels ...
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PropertyEU Archive
Town Centre becomes 17th UK REIT
Town Centre Securities has become the 17th UK property company to convert to a tax-friendly real estate investment trust (REIT) in the UK. The shareholders of the Leeds-based company approved new articles of association at an Extraordinary General Meeting on 1 October 2007 and HM Customs and Revenue accepted the ...
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PropertyEU Archive
Ibus buys 2 German retail portfolios
Dutch property company Ibus has acquired two retail portfolios in its first commercial property acquisition in the German market. The portfolios include a total of 34 real estate assets across 30 locations in Schleswig-Holstein, Mecklenburg-Western Pomerania, Hamburg and Lower Saxony. The properties have been bought through a sale and lease ...
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PropertyEU Archive
Carlyle set to buy Air2 tower at La Defense
Private equity group Carlyle is rumoured to be buying the Air2 skyscraper at La Defense, Paris, for an undisclosed amount. French newspaper Business Immo reported Wednesday that the US firm is set to acquire the 75,000 m[sup]2[/sup] of office in Paris' business district from developers Bouygues Immobilier and Meunier Immobilier. ...
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PropertyEU Archive
Buschl Group launches EUR 300m Agfa Park project
Buschl Group has launched the AGFA Park project, currently the largest development project in Munich. The project consists of a residential and commercial park which will be created on the 100,000 m[sup]2[/sup] site formerly owned by Agfa. The new buildings being built include several commercial buildings, an underground car park, ...
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PropertyEU Archive
Wereldhave sells Rijswijk building for EUR 43.6m
Dutch property firm Wereldhave has sold the Winston Churchill Tower office building in Rijswijk, near The Hague, for EUR 43.6 mln to an unnamed buyer. The company said it bought the building in 1974 and renovated it in 2002. The sale results in a surplus on disposal of EUR ...
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PropertyEU Archive
Prasa buys 5% of Realia for EUR 90m
Spanish real estate company Prasa has bought a 5% stake in peer Realia for EUR 90 mln, according to a statement sent to the Spanish stock market regulator CNMV. Prasa bought the shares for EUR 6.32 each, below Realia's closing price on Wednesday of EUR 6.48.
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PropertyEU Archive
Skanska invests EUR 61m in logistics projects
Swedish construction company Skanska has signed leases for four logistics projects in Sweden and Denmark. The investment volume amounted to EUR 61 mln. The facilities, totalling 50,000 m2, are in Gothenburg, Linköping and Burlöv in Sweden, and Stilling in Denmark. The leases were signed with Scan, TransFargo, Freja Transport & ...
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PropertyEU Archive
RAS Immobiliare buys Siemens' Italian HQ for EUR 85m
RAS Immobiliare has agreed with German electronics giant Siemens on the purchase of the company's Italian head office in Milan. The acquisition price comes to a total of EUR 85 mln. The office building was sold in a sale-and-lease-back transaction, news agency Radiocor said on Thursday. The property is earmarked ...
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PropertyEU Archive
Commerz Real spends EUR 97m in Vienna
Commerz Real, which was created by the recent merger of Commerz Grundbesitz Gruppe and Commerzleasing, has acquired six office properties in Vienna's TownTown urban development project for EUR 97 mln. The properties are earmarked for Commerz Real’s open-end public property fund, Hausinvest Europa.
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PropertyEU Archive
Citycon completes EUR 99m rights issue
Finnish property firm Citycon has completed its rights issue and raised around EUR 99 mln. The firm offered a total of 27,594,782 shares for subscription in accordance with shareholders' pre-emptive subscription rights, and approximately 99 per cent of the offered shares were subscribed for in the primary subscription. The secondary ...
