All Real Assets articles in Web Issue – Page 167
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PropertyEU Archive
LSR global offering could raise up to EUR 734m
The upcoming global offering by Russian property developer and building materials company LSR Group could raise up to $1.054 bn (EUR 734 mln), the company said, as it announced the price range for the offering that will see its shares listed on London Stock Exchange.
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PropertyEU Archive
Deadline set for Sainsbury's bid amid doubts over financing
Delta Two, the Qatari-backed investment fund seeking to take over Sainsbury's, has been given until 8 November to finalise its bid for the UK supermarket chain after informing the company it is seeking an additional £500 mln (EUR 713 mln) of equity financing to fund its offer.
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PropertyEU Archive
J.C. Flowers taps Myners of Land Secs to chair Northern Rock
Should it push ahead with a bid for Northern Rock, New York-based buyout firm J.C. Flowers has said it would propose that Land Securities non-executive chairman Paul Myners take over the position of chairman at the financially troubled UK mortgage bank.
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PropertyEU Archive
ING Real Estate opens first phase of Genk scheme
The first phase of ING Real Estate's City Square mixed-use scheme in the Belgian city of Genk opened last week. The City Square project is a public-private partnership covering a large-scale reconstruction of the city centre. The first phase includes 19 retail units that are fully leased to a mix ...
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PropertyEU Archive
NCC builds police headquarters near Oslo for EUR 22m
Swedish construction group NCC has announced a partnering agreement with Entra-selskapet Kjorboparken to build a new police headquarters in the west of Oslo. The premises should be up and running by spring 2009.
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PropertyEU Archive
Sponda buys office property in Moscow for EUR 33m
Finnish real estate company Sponda has closed a deal to buy an office property in the centre of Moscow. The building, still under construction on Prospekt Mira, was bought from Plazmexon Investments for EUR 33 mln and will have a total leasable office space of 3,025 m[sup]2[/sup]. It is scheduled ...
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PropertyEU Archive
Sjaelso Gruppen sells top Stockholm location for EUR 63.7m
Danish real estate company Sjaelso Gruppen has concluded a deal to sell a combined office, storage and retail property in Stockholm to Property Group for EUR 63.7 mln. The transfer should be finalised by the middle of 2008.
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PropertyEU Archive
Unibail-Rodamco record EUR 677m in 9-month sales
French-Dutch property company Unibail-Rodamco has said that its combined sales, taking into account the merger of the two companies, came to EUR 677 mln for the first nine months of 2007 - up 40% from the pro-forma figure of EUR 484 mln a year earlier.
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PropertyEU Archive
Ablon acquires land for Bucharest development
Ablon Group, a leading real estate owner and developer in Central and Eastern Europe, announced yesterday that it has completed the acquisition of a new 40,000 m[sup]2[/sup] plot of land located in the Pipera District of Bucharest for a purchase price of EUR 18.5 mln. Ablon has obtained building rights ...
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PropertyEU Archive
CB Richard Ellis advises on mega-deal in Austria
CB Richard Ellis, in partnership with NAI Otto Immobilien, NAI Global's Austrian arm, has been awarded an exclusive mandate to sell a EUR 650 mln portfolio of commercial properties owned by Bawag-PSK Real Estate, a subsidiary of Bawag-PSK Bank. The former union bank was taken over by Cerberus Capital Management, ...
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PropertyEU Archive
Amtel Group to launch new hotel brand in Moscow
Hotel group Amtel has set up a joint venture with City Developments Ltd (CDL), a major international hotel developer, to introduce a new hotel brand to Russia, named Copthorne, under CDL’s Millenium & Copthorne Hotels brand. Amtel Group already has diverse businesses within the Commonwealth of Independent States.
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PropertyEU Archive
Building starts on luxury offices in Dusseldorf
Real estate consultants Colliers Trombello Kolbel announced that work has started on the Four Elements office complex in Dusseldorf. The building, which was more than half-let before construction started, is situated on Georg-Glock Strasse in Kennedydamm and will provide six storeys of top-class office premises with a total floor area ...
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PropertyEU Archive
Custom House Capital moves into Munich
Global property consultants Knight Frank Ganly Walters has completed another acquisition deal in the German investment market amounting to over EUR 27 mln worth of investment property on behalf of Irish wealth management company, Custom House Capital (CHC). The deals in Munich follow on from CHC's recent acquisitions France worth ...
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PropertyEU Archive
Multi Turkmall and Union Investment open Mediterranean's largest retail centre
Istanbul-based Multi Turkmall and Hamburg's Union Investment have announced the opening of the largest retail project in the Mediterranean. Located in Mersin, a coastal resort in the southeast of Turkey, the Forum Mersin Shopping and Lifestyle Centre offers 71,500 m[sup]2[/sup] of shops, restaurants, leisure and cultural facilities. All of its ...
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PropertyEU Archive
Cofinimmo's nine-month results show leap in profits
Belgian real estate group Cofinimmo posted its nine-month results late on Friday, showing an increase in net profits driven by substantial assets disposal and slightly higher rental incomes. Net profits jumped to EUR 126 mln compared with EUR 86.6 mln in the same period last year. The company's property portfolio ...
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PropertyEU Archive
Hahn and Wegner complete mall in 12 months
German-listed Hahn Group and its partner, Wegner Holding, said they have completed the construction of the Monkhof Karree shopping mall in Lubeck 'in a mere 12 months'. The project's investment volume came to EUR 25 mln. The Mayor of Lübeck, Bernd Saxe, officially opens the shopping centre in Lubeck's newly ...
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PropertyEU Archive
CBRE sees 54% increase in Q3 revenues
Global property advisor CB Richard Ellis Group has reported its third quarter revenue this year increased 54.2% to $1.5 bn, and diluted earnings per share increased 23.1% to 48 dollar cents compared to the third quarter of 2006. Excluding onetime charges, the diluted earnings per share for the third quarter ...
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PropertyEU Archive
IC Real Estate to manage 41 bank properties
Germany's IC Real Estate Group said on Tuesday it is to asset and property manage 41 properties by Sparkasse Sudholstein savings bank in Schleswig-Holstein. The bank divested the 48,000 m[sup]2[/sup] portfolio through a sale-and-leaseback transaction by selling them to the IC Real Estate and IC's real estate investment trust (REIT), ...
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PropertyEU Archive
Mirland acquires development site in Kazan
Mirland Development Corporation, one of Russia's largest residential and commercial property developers, is to buy a market trading pavilion, covering some 0.8 hectares, in the Russian city of Kazan. Mirland is paying just under EUR 1 mln for the site, with a further EUR 111,000 being paid to the city ...
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PropertyEU Archive
PIK launches new building design
Russian residential developer PIK Group has begun construction of a new building design, the KOPE tower, in response to what the company calls the widening gap between supply and demand in the Russian housing market. The high-rise building has 25 storeys, each with 6-7 apartments of different sizes, ranging from ...
