All Real Assets articles in Web Issue – Page 162
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PropertyEU Archive
No deal yet on Santander properties
A report that Amancio Ortega, Spain's richest man, had purchased 11 buildings of Banco Santander's EUR 4 bn property portfolio for just under EUR 500 mln was dismissed as premature on Tuesday. According to reliable market sources, talks are still going on between Santander and the final bidders for parts ...
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PropertyEU Archive
Network Rail seeks property development partner
Network Rail, the owner and operator of Britain's rail infrastructure, is looking for a property partner to help with the regeneration of stations across London and the South East. The project is valued at £500 mln, the Financial Times newspaper reported.
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PropertyEU Archive
Record third quarter for Dusseldorf office market
Real estate consultants Colliers Trombello Kolbel claims it broke two records for letting during the third quarter in its recently released report on the performance of the Dusseldorf office market for the period. First no less than 149,000m[sup]2[/sup] of office space was let in the city during the period - ...
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PropertyEU Archive
Deutsche RE secures EUR 231m refinancing
Hamburg-based Deutsche Real Estate has secured a seven-year, EUR 231 mln refinancing arrangement with the London office of ABN Amro bank at comparable rates to the previous EUR 185 mln credit facility it replaces. The new deal gives the company about EUR 40 mln in additional liquidity.
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PropertyEU Archive
European real estate sets new Q3 record - CBRE
Commercial real estate investment activity in Europe reached a record level in the third quarter of 2007 despite the credit squeeze that emerged over the summer, property advisor CB Richard Ellis Group said in a market report published on Wednesday. Total investment in European real estate rose 24% to approximately ...
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PropertyEU Archive
Warimpex to develop 4-star hotel in Poznan
Warimpex has acquired a site to build a hotel in the Polish city of Poznan. As the building permit is included in the contract construction can begin immediately and is projected to be underway by the end of 2007. The site is located close to the city's historic old town ...
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PropertyEU Archive
ANF buys B&B hotel portfolio for EUR 471 mln
French property investment company ANF has paid EUR 471 mln for a portfolio of 159 B&B Hotel and Villages Hotel properties operated by the B&B Group. Financing approximately 60% of the purchase price will allow the company to build up its equity base in order to pursue further expansion.
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PropertyEU Archive
Gemany sees 52% jump in commercial property investment
Investment in commercial property in Germany totalled EUR 45 bn in the first three quarters of 2007, an increase of 52% percent on the same period last year. If residential portfolios and non-performing loans are also included in the investment total, the figure so far this year climbs to almost ...
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PropertyEU Archive
Mirland acquires remaining stake in Moscow tower development
Mirland Development Corporation announced on Wednesday that it is taking full ownership of its major Moscow skyscraper project. The Cypriot-based developer of residential and commercial property in Russia said it is to obtain the remaining 21% interest in a Russian company that has the leasehold rights on the land to ...
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PropertyEU Archive
Blackrock Intl Land acquires site in Edinburgh
Dublin-based Blackrock International Land has announced a 50:50 joint venture purchase of 121 hectares of agricultural land on the south side of Edinburgh. Having worked together on the development of two properties in Scotland last year, Blackrock is teaming up again with Applecross Properties and Esk Properties in this new ...
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PropertyEU Archive
ULI and FT create sustainable property awards
The Urban Land Institute (ULI) has teamed up with London-based business newspaper the Financial Times in creating a new award for sustainable real estate. The Financial Times & Urban Land Institute Sustainable Real Estate Awards will be presented for the first time at a ceremony in London in June 2008, ...
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PropertyEU Archive
Bank of Ireland launches new European Retail portfolio
Bank of Ireland Group has launched the EUR 150 mln European Retail Property Portfolio to purchase prime retail properties in targeted European markets. The fund is seeking individual investors willing to accept an element of risk and to invest a minimum EUR 50,000 by the 31 January 2008.
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PropertyEU Archive
King Sturge wins Prague office contracts
The Prague office of property advisor King Sturge has been selected as representative for two high-profile office developments to be built in the Czech capital. Orco Property Development’s Vysocanska Gate will add 11,000 m[sup]2[/sup] of high-quality office space to the market. Located in Prague 9 it is set to be ...
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PropertyEU Archive
Dublin office market soars to new high
In a new report on the Dublin office market over the first nine months of 2007, property consultants CB Richard Ellis (CBRE) claim that take-up has already exceeded the annual average. The report indicates that over 200,000 m[sup]2[/sup] of office space has been signed so far this year compared to ...
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PropertyEU Archive
Sir Stuart Lipton wins ULI Nichols Prize
Leading London developer Sir Stuart Lipton has been awarded the 2007 Urban Land Institute (ULI) J.C. Nichols Prize for Visionaries in Urban Development. Lipton is the first non-American to win the $100,000 (EUR 70,500) prize, which honours the legacy of American developer J.C. Nichols, a founding ULI member considered to ...
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PropertyEU Archive
Take-up in Warsaw reaches 91,400 m[sup]2[/sup] in Q3
Leasing activity in the Warsaw office market amounted to 91,400 m[sup]2[/sup] in the third quarter of this year, a historically high level but down on the volumes seen in the first and second quarters, according to figures issued on Wednesday by the Warsaw Research Forum. New leases accounted for about ...
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PropertyEU Archive
Balfour Beatty acquires Covion for £33m
International engineering, construction and services company Balfour Beatty has announced the acquisition of facilities infrastructure service provider Covion for £ 33 mln (EUR 47 mln). The deal will allow Balfour Beatty to strengthen its position in the private-sector facilities management market. Covion was one of the fastest growing companies in ...
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PropertyEU Archive
Olinda Fondo Shops buys EUR 60m portfolio in Northern Italy
Olinda Fondo Shops, a listed real estate investment fund managed by Pirelli RE, has bought a commercial real estate portfolio for EUR 60 mln. Pirelli REsaid on Thursday that the assets, valued by CB Richard Ellis at EUR 60.35 mln, have been bought from Erice, a company owned 60% by ...
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PropertyEU Archive
Essent buys 9 assets in the Netherlands
Dutch energy company Essent has bought a real estate portfolio including nine office and business properties. The assets were acquired via a sale-and-leaseback transaction with a joint venture of Utrecht's Top Vastgoed Beleggingen and Stolwijk's Burgland Vastgoed. Financial details of the transaction have not been disclosed.
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PropertyEU Archive
Tishman Speyer sells Access tower in Frankfurt
Spain's property major Metrovacesa has acquired the Access Tower in Frankfurt-Niederrad, Germany, for an undisclosed amount. The 20-storey office tower was sold by US investor Tishman Speyer. The building provides some 20,500 m[sup]2[/sup] of space and in late 2006 achieved full lease when about 7,000 m[sup]2[/sup] was let to Marsh ...
