All Real Assets articles in Web Issue – Page 173
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PropertyEU Archive
Redevco unveils EUR 1 bn-plus investment programme in Turkey
Redevco presented six projects in Turkey on Thursday as the Dutch real estate company announced it has added Turkey to its investment network. Speaking at a press conference in Istanbul to introduce Redevco Turkey, Jaap Gillis, chief operations officer of Redevco Europe, said the company plans an initial investment of ...
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PropertyEU Archive
ING RE opens EUR 100 mln mall in Madrid
ING Real Estate said it has officially opened its new state-of-the-art Alcala Magna shopping centre in Madrid. The 34,000 m[sup]2[/sup] shopping centre represents a total investment of EUR 100 mln and was designed by international architects Chapman Taylor. The mayor of Madrid, Bartolomé González, officially opened the shopping centre on ...
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PropertyEU Archive
Hypo RE sees net return on equity of 12% in 2007
German real estate bank Hypo Real Estate Group on Thursday reported net profit of EUR 266 mln for the third quarter, up from EUR 112 mln over the same period a year ago. Adjusted for tax-loss carry-forwards and the effects of changes to tax legislation, plus the recently completed acquisition ...
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PropertyEU Archive
DTZ buys Canadian firm J.J. Barnicke for EUR 20 mln
Property adviser DTZ said on Thursday it had acquired Canadian peer J.J. Barnicke for EUR 19.8 mln, subject to a working capital adjustment. An additional EUR 1.1 mln may be payable if certain conditions are met. DTZ is financing the acquisition from existing facilities and notes convertible into DTZ shares.
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PropertyEU Archive
Meag enters Swedish market with EUR 220 mln deal
Munich Ergo Asset Management (Meag) has acquired the Plaza 63 office project in Stockholm for around EUR 220 mln from development consortium Stockholm Klara. The office building will offer around 25,000 m[sup]2[/sup] of floor space and 125 underground parking spaces and is due for completion at end-2009.
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PropertyEU Archive
Sonae Sierra expands in Romania with EUR 293 mln investment
Sonae Sierra is to invest a total of EUR 293 mln in its first two shopping and leisure centre developments in Romania. The company has completed the acquisition of two sites in the cities of Ploiesti and Craiova for the schemes. The Portuguese retail property specialist entered the Romanian market ...
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PropertyEU Archive
Invesco reports 75% increase in Q3 profits
UK-based and US-listed property fund manager Invesco reported third-quarter pre-tax profit of $263.3 mln (EUR 179.5 mln), up 75% on the year-earlier period. Net revenues for the period came in at $ 720.3 mln, compared with $587.1 mln a year earlier. The net operating margin for the three months to ...
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PropertyEU Archive
Alstria first on Deutsche Boerse REITs segment
German stock exchange Deutsche Boerse said on Thursday that Alstria Office REIT was the first German REIT (Real Estate Investment Trust) to be launched on its new REITs segment and indices. Hamburg-based Alstria Office focuses exclusively on acquiring, owning and managing office real estate in Germany. Deutsche Boerse launched the ...
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PropertyEU Archive
Lehman, Nanette shuffle ownership of Polish business
Amsterdam-registered residential developer Nanette has signed a memorandum of understanding with Lehman Brothers Real Estate partners (LBREP) on the reorganisation of the ownership of their jointly-owned Polish business ROBYG. The restructuring of the Polish operations will include the integration of Nanette's and LBREP's jointly owned Polish subsidiaries into ROBYG and ...
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PropertyEU Archive
GE Real Estate partners Clinton on green initiative
Former US president Bill Clinton has announced that Connecticut-based GE Real Estate has formed a new partnership with his Clinton Climate Initiative (CCI). The move is part of GE Real Estate's plans to 'green' its business which generates more than $30 bn (EUR 20.4 bn) in annual transaction volume across ...
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PropertyEU Archive
Colliers: Lithuanian warehouse market set for rapid growth
Property adviser Colliers International said on Thursday that the Lithuanian warehouse market is growing rapidly on the back of demand from logistics firms and foreign companies. At the end of the first half of 2007, the total warehouse stock in the Vilnius region was estimated at 240,000 m[sup]2[/sup] and a ...
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PropertyEU Archive
AMB Property leases 16,600 m[sup]2[/sup] in London development to direct mail firm
San Francisco-based property developer and owner AMB Property Corporation said it has agreed a 10-year lease for about 16,600 m[sup]2[/sup] of its AMB East London Distribution Park to UK direct mail company DSICMM.
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PropertyEU Archive
VastNed Retail's Q3 direct result per share inches down
VastNed Retail, the Amsterdam-listed retail property investor facing a hostile bid from IEF Capital, said its direct result in the third quarter of 2007 fell to EUR 15.4 mln from EUR 16.1 mln in the year-earlier period. On a per share basis, the direct result in the quarter declined ...
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PropertyEU Archive
Top deals of Week 45
London & Capital's acquisition of a German retail assets for EUR 225m leads the ranking of the top five deals for Week 45 (5 to 9 November 2007) as recorded by PropertyEU.
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PropertyEU Archive
Bovis secures EUR 503m mixed-use UK contract
Project management, design and construction company Bovis Lend Lease UK has signed a £351 mln (EUR 503 mln) contract to develop a landmark 15-hectare site at the heart of Media City in Salford, UK.
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PropertyEU Archive
CA Immo acquires administrative complex in Berlin
Vienna-listed CA Immo announced on Friday that it has acquired a 35,000 m[sup]2[/sup] administrative complex in the Spreebogen quarter of central Berlin. Most of the two-building property is rented to the Berlin Administrative Court, the Tiergarten District Court and the Public Prosecutor's Department. The remaining area consists of retail, office ...
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PropertyEU Archive
Plaza announces second acquisition in Serbia
Plaza Centers, a developer focused on Central and Eastern Europe, said it has agreed to purchase a 24,000 m[sup]2[/sup] plot in Kragujevac, Serbia for a planned shopping centre and entertainment centre development. Excepted development costs for the project, which is expected to comprise a total built area of ...
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PropertyEU Archive
Independent financial advisors continue to back REITs
Despite ongoing turbulence on international stock markets and falling property stocks, a majority of independent financial advisors in the UK say they still plan to incorporate real estate investment trust (REIT) investments in client portfolios.
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PropertyEU Archive
BAM to build football stadium in Augsburg
The German unit of Dutch building group BAM has been awarded the contract to build a football stadium in Augsburg and a multi-functional sports complex in Ludwigsburg. The total investment volume comes to EUR 85 mln.
