All Real Assets articles in Web Issue – Page 166
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PropertyEU Archive
Spazio buyback continues
AIM-listed Spazio Investment has purchased a further 200,000 ordinary shares as part of the buyback programme the company announced on 19 September. The shares were purchase at an average price of EUR 11.90 through Credit Suisse Securities.
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PropertyEU Archive
ING RE to expand Castel Guelfo Outlet City
ING Real Estate Development plans to expand the Castel Guelfo Outlet City near Bologna with a further 11,500 m[sup]2[/sup] of retail space. Opened in 2004, the Castel Guelfo mall today provides 55 shops over some 11,500 m[sup]2[/sup]. About 50 new shops will be added to the centre to provide a ...
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PropertyEU Archive
Sponda to design shopping centre in Vaasa
Finnish property investment company Sponda has been selected from a list of three candidates to design a new 40,000 m[sup]2[/sup] shopping centre in the Finnish city of Vaasa. The city government will partner Sponda in designing and developing the shopping centre that will replace Vaasa's disused bus station. The project ...
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PropertyEU Archive
Doughty Hanson purchases two sites in France
Doughty Hanson, one of Europe's largest real estate fund managers, has agreed to acquire a logistics site in Avrigny, north of Paris, and a light industrial site in Toulouse. The total investment cost to acquire and develop both sites will be EUR 120 mln.
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PropertyEU Archive
Magnat RE, JJW team up in Eastern European JV
Germany's Magnat Real Estate Opportunities said on Wednesday that it has signed a strategic co-operation with JJW Hotels & Ressorts with respect to the expansion into Eastern Europe. JJW is part of an international group with total assets of $ 1.7 bn that acquires, develops and operates hotels and resorts ...
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PropertyEU Archive
Sonae Sierra kicks off EUR 102m Italian mall project
Portuguese property firm Sonae Sierra on Thursday announced the start of its EUR 102 mln shopping centre project, Gli Orsi, in the Italian city of Biella. The 40,700 m[sup]2[/sup] project will offer space to 100 shops, plus 19 restaurants and coffee shops, and will be open for business in the ...
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PropertyEU Archive
Klepierre Q3 revenues up 16%
French retail property giant Klepierre said third-quarter revenues came in at EUR 166 mln, up almost 16% on the year-earlier period. Total revenues for the nine months to end-September rose to EUR 481.1 mln, from a EUR 414 mln a year earlier. The company said it expects business levels to ...
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PropertyEU Archive
Jelmoli mulls property IPO as EUR 2bn deal collapses
Swiss retailer Jelmoli said on Thursday that it may float its real estate portfolio following the collapse of a EUR 2 bn sale of the properties to an Israeli consortium. An IPO will be one of the options the Jelmoli board will put to an extraordinary shareholders' meeting at the ...
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PropertyEU Archive
Conwert shareholders back EUR 216m company acquisitions
Shareholders of Austrian property company Conwert Immobilien Invest have overwhelmingly approved the acquisition of 25 property management and property service companies for a total of EUR 216 mln. The acquisitions are part of Conwert's strategy to transform itself from a pure real estate investor into a European property management and ...
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PropertyEU Archive
Hesse puts EUR 400m leaseback sale on hold
The Germans state of Hesse has halted attempts to arrange a sale and leaseback of the Leo III portfolio because the ongoing turbulence in the financial markets has left potential buyers unwilling or unable to meet the asking price of around EUR 400 mln. The state's finance minister, Karlheinz Weimar, ...
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PropertyEU Archive
Deka snaps up Lighthouse towers in Prague for EUR 76.5m
Deka Immobilien, the property arm of German's Deka Bank, has acquired the Lighthouse office scheme in Prague from Lighthouse Holdings and Alliance Holdings & Development, a joint venture which includes investors GTC, RREEF and BSG, for a total of EUR 76.5 mln. The sellers were advised by Jones Lang LaSalle ...
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PropertyEU Archive
Savills advises on two letting deals in Germany
Real estate consultancy Savills said it recently advised on letting deals in the German cities of Munich and Hamburg. The company advised the Buddenhagen Handelsgesellschaft on the lease of 5,000 m[sup]2[/sup] of retail space in Munich to major hairdressing chain Unisex Deutschland and advised Sparda Bank on a 10-year lease ...
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PropertyEU Archive
AMB to develop logistics centre in Belgium
AMB Property Europe, an affiliate of the American AMB Property Corporation, announced on Thursday that it has teamed up with Belgian developer DePaepe Group to develop a multi-tenant logistics facility in Boom, Belgium. The AMB Boom Distribution Center is expected to comprise 40,000 m[sup]2[/sup] on completion in the second quarter ...
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PropertyEU Archive
Colliers sees Vilnius office space double in coming years
Real estate advisor Colliers International expects office space in the Lithuanian capital Vilnius to double in the next few years, as economic growth drives up demand for modern office space.
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PropertyEU Archive
Grosvenor in first Italian property derivative trade
Grosvenor, the Duke of Westminster's private property company, has carried out the first Italian property derivative transaction based on the IPD Italian Property Index. The two-year test trade was executed with BNP Paribas and brokered by ICAP.
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PropertyEU Archive
Irish property investigation widens to more solicitors firms
The police investigation into multi-million euro property dealings involving Irish law firms, which led to the shutdown of two solicitors in the past two weeks, has now widened to include as many as three more firms, according to a report in Thursday's Irish Independent. One prominent solicitor has been admitted ...
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PropertyEU Archive
Eurohypo refinances EUR 1.4bn residential scheme
German-listed real estate bank Eurohypo has refinanced the EUR 1.4 bn residential development at One Hyde Park in Knightsbridge, London. This enables PGGL, the joint venture between CPC Group and Waterknights, to complete the development of 80 luxury apartments and three retail units on the former Bowater House site. ...
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PropertyEU Archive
Accor plans to raise hotel count to 5000 in 2010
French hotel and corporate services group Accor plans to raise its network of hotels to 5,000 by the end of 2010, the company said during a presentation to investors of a new business plan for its hotels division.
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PropertyEU Archive
X5 Retail Group buys Korzinka chain for EUR 80m
Russian food retailer X5 Retail Group has agreed to buy the Korzinka retail chain of 22 stores for $115 mln (EUR 80 mln), including debt. X5 said 15 of Korzinka's stores will be integrated into its discount format and six into the supermarket format while one store will be added ...
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PropertyEU Archive
Boundary-led group completes EUR 65m Arnotts investment
Irish investment company Boundary Capital and its partner Anglo Irish Private Bank have completed the EUR 65 mln acquisition of a 45% indirect stake in the Arnotts Department Store group, Ireland's largest department store. Boundary Capital has invested EUR 40 mln for its 28% holding, while Anglo Irish Private Bank ...
