All Real Assets articles in Web Issue – Page 16
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PropertyEU Archive
DIC acquires EUR 205 mln Hamburg portfolio
Frankfurt-based DIC Group has acquired the 'Primo 3' portfolio from the City of Hamburg in a deal with a total investment volume of EUR 205 mln. The portfolio consists of 52 commercial properties with a total floor space of around 176,000 m[sup]2[/sup]. The transaction is subject to the approval ...
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PropertyEU Archive
DEGI buys German offices for EUR 22.5 mln
DEGI, the real estate investment arm of German insurer Allianz Group, has purchased an office project in Bad Homburg near Frankfurt am Main for a total investment volume of around EUR 22.5 mln. The five-storey office building, comprising 7,800 m[sup]2[/sup] of lettable space and 236 parking spaces, is already ...
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PropertyEU Archive
Multiplex to set up EUR 356 mln property fund
Multiplex Capital has announced it intends to launch a new fund to invest in European real estate. The fund has an initial portfolio of 67 German properties valued at EUR 356 mln. Multiplex Capital is the fund management division of Australia's Multiplex Group.
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PropertyEU Archive
Teesland launches Nordic Aktiv fund
Teesland, the UK and European property fund and asset managemer, has launched the EUR 850 mln Nordic Aktiv fund to invest in the four Nordic countries - Denmark, Sweden, Finland and Norway. The fund will focus on acquiring high-yielding mixed commercial properties with a strong emphasis on multi-let buildings, ...
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PropertyEU Archive
Banks appointed to value Colonial merger
International banks Citigroup and Calyon have been appointed by property companies Inmoracal and Inmobiliaria Colonial to value and decide on the stock exchange rate for their mega merger.
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PropertyEU Archive
Martinsa's Fadesa offer gets approval
The EUR 4.04 bn takeover offer made by Spanish property company Martinsa for peer Fadesa has been approved by Competencia, the Economy and Housing Ministry's competition agency. The offer now requires the consent of CNMV, the National Commission on Stock Exchanges.
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PropertyEU Archive
Qatari group eyes Chelsea barracks
A Qatari state company is in talks with Britain's Ministry of Defence to acquire Chelsea Barracks in London. Qatari Diar Real Estate and Investment is conducting the talks, Qatari foreign minister Sheikh Hamad bin Jassim told the Trade Arabia business information news website has reported, Sheikh Hamad is also the ...
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PropertyEU Archive
North Real Estate in major Romanian buy
North Real Estate Opportunities Fund has announced the acquisition of a retail park in Romania for EUR 83 mln. The deal involving the 50,000 m[sup]2[/sup] European Retail Park Sibiu in Transylvania is thought to be one of the largest real estate deals in Romania to date, Freeman European News reported. ...
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PropertyEU Archive
Rodamco unmoved by partial opening at Zlote Tarasy complex
The retail part of the delay-plagued Zlote Tarasy multifunctional complex in the centre of Warsaw is to open on February 7 next year, developer ING Real Estate declared in an upbeat statement released on Monday evening.
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PropertyEU Archive
Woman earns real million from virtual real estate
Anshe Chung of the Second Life virtual world claims to be the first online character with a net worth of $1 mln, thanks to a thriving business selling virtual real estate to other gamers.
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PropertyEU Archive
First Indian real estate firm to list on Euronext
Yatra Capital is to be the first Indian real estate company to list on the Euronext stock exchange following the placing of 10 million ordinary shares of EUR 10 each. This gives it an initial market capitalisation of EUR 100 mln. Once bank borrowings are taken into account it will ...
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PropertyEU Archive
Ferrovial to sell real estate unit
Grupo Ferrovial has begun talks with several parties interested in buying its real estate subsidiary, Spanish newspaper Cinco Dias reported, citing unnamed sources close to the discussions. Family-owned property company Lubasa has previously expressed interest and is believed to be in pole position to buy the subsidiary, the paper said.
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PropertyEU Archive
New mall opens in Malaga
The Spanish minister of Public Works Magdalena Alvarez attended the opening of the new 67,454 m[sup]2[/sup] Vialia shopping centre in Malaga this week. The project was developed by Riofisa and Adif, through its subsidiary Necsa, and it has required an investment of EUR 82 mln. The two-level centre is ...
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PropertyEU Archive
Patrizia wins bidding for EUR 1 bn German portfolio
Patrizia, a real estate company focused on the residential market in Germany, has won the right to purchase a portfolio of 6,805 German residential and commercial properties. The acquisition is the largest single transaction in the company's history.
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PropertyEU Archive
Qatar fund buys Milan hotel for EUR 100 mln
The Qatar Investment Authority (QIA) has bought Milan's landmark Excelsior Hotel Gallia for more than EUR 100 mln, according to Jones Lang LaSalle Hotels, which advised on the deal. The 250-room luxury hotel with an eye-catching art nouveau facade is located on the Piazza Duca d'Aosta.
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PropertyEU Archive
Warburg-Henderson spends EUR 115 mln on warehouses
Anglo-German open-ended fund Warburg-Henderson KAG has acquired four new warehouse properties in France, Germany, Italy and Spain for a total of EUR 115 mln. The properties are intended for Warburg-Henderson's Pan-Europa Fonds Number 1 in a forward-funding deal with Gazeley, the property division of shopping centre chain Asda.
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PropertyEU Archive
Scottish Power backs Iberdrola's EUR 17.2 bn bid
The board of Scottish Power, a major British energy supplier, has backed an EUR 17.2 bn bid from Spain's Iberdrola in a move that would create Europe's third-largesst utility group. In the event the deal goes ahead, it will trigger a payout of up to EUR 6 mln for ...
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PropertyEU Archive
Big three team up in new EUR 250 mln Italian fund
Italy's Gruppo Aedes has joined forces with German real estate company IVG Immobilien and GE Real Estate Italia on Petrarca, a new EUR 250 mln closed-ended real estate fund that will specialise in office properties. The fund is for institutional investors and is managed by Aedes BPM Real Estate.
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PropertyEU Archive
Bennetton sells Madrid property for EUR 27 mln
Italy's fashion retail group Benetton has sold a building in Madrid for EUR 27 mln, according to a company statement sent to the American Security and Exchange Commission (SEC) . The filing said the property, which is not a retail premises, is located on the Goya de Madrid. The identity ...
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PropertyEU Archive
Fraport to pay EUR 650 mln to secure runway extension
Fraport, the owner of Frankfurt airport, has signed a Letter of Intent (LOI) with chemical company Celanese/Ticona, under which the latter has agreed to close its chemical plant at Kelsterbach by the middle of 2011 to allow the building of a new runway. All aeronautical obstacles are to be removed ...
