All Real Assets articles in Web Issue – Page 171
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PropertyEU Archive
Foster to give Barcelona's stadium a facelift
To football fans around the world, FC Barcelona's Camp Nou is hallowed turf where giants of the game like Maradona, Johan Cruyff and Ronaldinho have played. Now one of the stars of the architectural world, Norman Foster, is to transform the stadium with a new look.
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PropertyEU Archive
Kungsleden's share redemption process begins
Following their recently upgraded profits forecast for calculating 2007 dividends, Swedish listed property company Kungsleden has begun distributing a brochure to all its shareholders describing their proposed share redemption process. Subject to a resolution by the EGM to be held on 19 November, each Kungsleden share will be split into ...
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PropertyEU Archive
Citigroup's CEO steps down as subprime crisis bites deeper
Citigroup announced the departure of its CEO and chairman Charles Prince during an extraordinary meeting on Sunday, as the company unveiled between $8 bn and $11 bn of further losses in addition to the $5.9bn of bad debts it had previously announced due to the fallout of he sub-prime mortgage ...
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PropertyEU Archive
Huge increase in supply of Bulgarian holiday homes
Property advisor Colliers Bulgaria has published research findings this week that show there was a dramatic increase in the total number of holiday home units in Bulgaria in the first half of 2007. After almost 10,000 new apartment units were put on the market in mountain resorts, supply increased there ...
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PropertyEU Archive
Delta Two pulls out of Sainsbury's takeover talks
Delta Two, the Qatari-backed investment fund, has pulled out of its talks to buy Sainsbury's. Back in July the fund announced that it was in discussions with the supermarket group about the possibility of them making a cash offer to acquire the 75% of the ordinary share capital it did ...
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PropertyEU Archive
Market downturn impacts on lease lengths
Landlords are negotiating shorter leases with retailers and other commercial tenants in response to tighter market conditions over the last year, a new research report issued on Monday indicates.
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PropertyEU Archive
Dutch trade union group sells four offices to UBS
FNV Vastgoed, the property unit of the largest union confederation in the Netherlands, has divested four offices with a total area of 27,500 m[sup]2[/sup] via a sale-and-lease-back transaction with UBS Global Asset Management. The financial details were not disclosed.
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PropertyEU Archive
SPDE withdraws from Oslo Port negotiations
Scandinavian Property Development (SPDE), which listed on the Oslo stock exchange last week, has announced that it has decided to withdraw from ongoing negotiations about the acquisition of the Sørenga container terminal in Oslo harbour. The negotiations had been held with Hav Eiendom, a company owned by the Oslo Port ...
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PropertyEU Archive
October's FTSE UK Commercial Property Index down 0.46%
The FTSE UK Commercial Property Index declined by 0.46% during October. The cooling of the UK property market 'affected the values of underlying properties in the index', but the decline was exacerbated by the credit crunch in global capital markets.
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PropertyEU Archive
Deutsche Post to put EUR 1 bn real estate portfolio up for sale
Germany's Deutsche Post World Net plans to sell off vacant real estate worth EUR 1-1.5 bn to generate cash and boost its share price, newspaper Financial Times Deutschland has reported. The paper said that the German postal company, headed by CEO Klaus Zumwinkel, has hired Morgan Stanley to organize the ...
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PropertyEU Archive
IVG places EUR 224m Gherkin fund in two months
German property investor IVG Immobilien said on Tuesday that it has taken only two months for its fund unit to raise EUR 224 mln in equity for its Euroselect 14 fund which is based on the iconic Gherkin office property in the City of London.
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PropertyEU Archive
Liberty's Q3 results show investor interest in retail
Liberty International, a leading retail investor, reported adjusted earnings per share rose by 10% to 38 cents in the third quarter compared with the same period last year. Adjusted net assets rose to f EUR 7.4 bn. Net rental income was up EUR 21 mln to EUR 375 mln and ...
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PropertyEU Archive
Bastogi sells office lab for EUR 35m
Italian real estate company Bastogi, advised by Savills, has sold an office and laboratory property on Via Bisceglie in Milan to an Italian investment fund for EUR 35.5 mln, reflecting a gross initial yield of 5.5%.
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PropertyEU Archive
Pirelli RE confirms interest in Arcandor's EUR 4.5 bn portfolio
Pirelli Real Estate's CEO Carlo Puri Negri has confirmed that the Italian real estate giant is interested in acquiring Arcandor's department store properties in Germany. 'We are in talks for the purchase of Karstadt's buildings and for a small stake in the management company,' Puri Negri said Monday during a ...
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PropertyEU Archive
Plaza Centers unveils EUR 600m project for Bucharest
Central and Eastern European property developer Plaza Centers said on Tuesday that it plans to extend Dambovita Centers, a 600,000 m[sup]2[/sup] multi-functional project in the heart of Bucharest. The scheme, designed by architect Chapman Taylor, is now forecast to cost up to EUR 600 mln, with an initial investment ...
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PropertyEU Archive
Subprime mortgage crisis accelerates Europe's prime yield correction
The correction of the European investment market was already at work by the time the US subprime crisis hit European banks in August, Atisreal said in a new report published on Monday. Initial prime yields had already stopped falling in the priciest markets in spite of the abundant capital seeking ...
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PropertyEU Archive
Jelmoli acquires majority stake in Seiler Hotels Zermatt
Jelmoli Holding, one of Switzerland's leading retail and real estate companies, has acquired 39% of Seiler Hotels' share capital, bringing its total share ownership in the luxury hotel chain to 80%. Jelmoli, listed on the Swiss stock exchange SWX, acquired a 36% stake in 2005 and a further 5% in ...
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PropertyEU Archive
Invista REIM grows its Continental European activities
UK listed fund manager Invista REIM is boosting its Continental European presence with the opening of a new Paris office and the appointment of Guillaume Masset as head of the newly-opened office. Guillaume joins Invista from European real estate investment manager Stam Europe, where he spent over six years as ...
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PropertyEU Archive
Real estate could become 'safety anchor for investors'
The spate of property deals that have recently fallen through in the German market amply shows that the financial crisis is 'anything but over'. That is the conclusion of real estate consultant Dr. Rainer Zitelmann in the latest edition of the German Real Estate News.
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PropertyEU Archive
SNS Bank to divest properties in leaseback
Dutch bank SNS is putting an 11-asset office and retail portfolio up for sale. The portfolio includes SNS offices that the bank closed last May. SNS said it intends to lease back an office in the western Dutch town of Alblasserdam, while the other properties are located in Arnhem, Ede, ...
