All Real Assets articles in Web Issue – Page 159
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PropertyEU Archive
'Exciting' Scandinavian market triggers Savills’ move into Norway
Savills, the London-listed real estate service provider with 180 offices worldwide, has made its first move into Norway by forming an association with one of the country’s top property advisors, Heilo Eiendom. Founded in 1994, Heilo specialises in the purchase, sale and development of retail properties and hotels. Its clients ...
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PropertyEU Archive
German open-ended funds make strong return
German open-ended funds (GOEFs) have made a strong return to the market this year, and with the current changes in Europe's investment environment, this trend looks set to accelerate, according to the EMEA research group at CB Richard Ellis. GOEFs made EUR 3.9 bn in cross-border purchases in Europe ...
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PropertyEU Archive
VastNed Retail gets 'opportunity of a lifetime' in Lille
Netherlands-based VastNed Retail has acquired a EUR 97 mln high-street portfolio in Lille, France's fourth largest city. Comprising 56 shops and over 100 apartments, the properties were bought from two private individuals at a net initial yield of 5% and have a total lettable area of 12,000 m[sup]2[/sup].
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PropertyEU Archive
'Risanamento in EUR 1 bn portfolio sale'
Italian listed real estate company Risanamento could sell assets worth up to EUR 1 bn in a move aimed at reducing the company’s debt, Italian newspaper Il Sole 24 Ore reported on Wednesday, without quoting sources. According to the paper the company, which is headed by Luigi Zunino, has received ...
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PropertyEU Archive
Rewe to open 350 supermarkets in Germany next year
Rewe Group expects to open about 350 new supermarkets in Germany next year as part of its ongoing expansion in the country, Rewe’s national expansion manager Stephan Koof said at the EXPO REAL fair in Munich. 'Another 120 supermarkets will be opened this year alone, adding to the 3,000 existing ...
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PropertyEU Archive
Curzon buys EUR 40 mln office building in the Netherlands
The Curzon Funds Group of AEW Europe said on Wednesday that it has acquired the Winston Churchill Tower office building in Rijswijk, the Netherlands, for just over EUR 40 mln. The 23-storey building was purchased together with joint venture partner Akron Group, on behalf of the oversubscribed fund Curzon Capital ...
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PropertyEU Archive
EXPO REAL breaks attendance record
The 10th EXPO REAL property fair in Munich attracted 23,800 trade visitors from 77 countries, a 13% increase in attendance figures compared with 2006, organiser Messe Muenchen said in the closing hours of the fair on Wednesday afternoon.
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PropertyEU Archive
Sonae Sierra and JLL win European property awards
Portugal's Sonae Sierra was named best shopping centre developer of the year at the Expo Real trade fair in Munich this week. The jury of the European Property Awards 2007 said the company had been elected because of its introduction of innovative concepts in the sector. Other nominees for the ...
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PropertyEU Archive
Orco awards 'Sky Office' contract to Hochtief
Orco Germany announced this week that it has awarded the construction contract for its EUR 100 mln 'Sky Office' office development in Düsseldorf to Hochtief Construction. Hochtief will begin construction of the office building on the Kennedydamm next week, and the project is scheduled for completion in the third quarter ...
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PropertyEU Archive
Invesco buys German office building
Invesco Real Estate announced on Wednesday that it has made its first German acquisition for the Invesco Property Income Trust Limited. The 12,268 m[sup]2[/sup] property at Schickardstraße 30, is within the TBP Technology Business Park, which is part of the technology corridor south-west of Boblingen. The office building, acquired for ...
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PropertyEU Archive
LSR makes good progress on business plan
UK real estate investment trust Local Shopping REIT (LSR) said this week that it had made good progress on the delivery of its business plan since being listed in London five months ago.
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PropertyEU Archive
Fewer investors chasing European property
The number of investors chasing European real estate has fallen to 3:2 in the wake of the global credit crisis, Tony Horrell, head of European capital markets at Jones Lang LaSalle, said in an interview with PropertyEU at Expo Real. 'Earlier this year, we were looking at a ratio of ...
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PropertyEU Archive
Sex and the city
Just how important the subject of sustainability has become in the property industry was very clear during a panel discussion at EXPO REAL on urban sustainability. German state secretary of transport, building and urban affairs, Engelbert Luetke Daldrup noted that as more people move to cities in Germany to live ...
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PropertyEU Archive
Credit crunch, but no credit crisis, says DTZ
While the current credit crunch has produced a slight downturn on the real estate markets, it is not comparable to the long term downturn seen in 1979 and 1983, said Joe Valente, speaking to PropertyEU at EXPO REAL in Munich. 'The other extreme is that we see investors sitting around ...
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PropertyEU Archive
JLL: service sector fuelling demand for West End property
Jones Lang LaSalle's Q3 Central London Market Report published this week says that demand for space in London's West End rose 2% in the last three months.
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PropertyEU Archive
Prupim to obtain EPCs for entire portfolio
UK real estate investment manager Prupim has announced that it will be obtaining Energy Performance Certificates (EPCs) for its entire property portfolio. EPCs rate the energy performance of buildings, enabling prospective investors and occupiers to consider energy-efficiency ratings and carbon emission levels.
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PropertyEU Archive
German government working on revision of G-REIT law
The German government is working on amendments to the legislation governing real estate investments trusts (REITs), German real estate journal Immobilien Zeitung reported earlier this week.
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PropertyEU Archive
Immoeast opens 100,000 m[sup]2[/sup] shopping centre in Romania
Austrian property company Immoeast has opened the Polus Centre Cluj in Transylvania. The shopping centre is the company's largest retail development project in Romania and represents a total investment by Immoeast of EUR 210 mln.
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PropertyEU Archive
ECPC's EUR 111m Romanian sale nears completion
AIM-listed European Convergence Property Company (ECPC) said on Thursday that the sale of its office portfolio in Bucharest to German property fund Degi for EUR 111 mln is nearing completion. ECPC said it would soon receive the majority of the proceeds and was 'working with its advisors to secure the ...
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PropertyEU Archive
Eurosic seals EUR 850m loan agreement
Eurosic has secured a EUR 850m loan agreement from UK-based HSBC and French banks Natixis and Calyon to refinance the Paris-listed real estate company's debt and to fund its growth plans. Banque Palatine advised Eurosic in this operation. The loan comes on top of the EUR 175 mln line of ...
