All Real Assets articles in Web Issue – Page 174
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PropertyEU Archive
NCC to construct mall in partnership with Invensis Invest
Sweden's NCC Construction has been commissioned by Invensis Invest to build a new 27,000 m[sup]2[/sup] shopping center in the Swedish city of Nykoping. The order is worth about EUR 23 mln. The construction with be carried out on a partnering basis and the shopping centre is scheduled to open in ...
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PropertyEU Archive
Deutsche EuroShop raises full-year forecast
Deutsche Euroshop, the German shopping centre investor, indicated on Friday that it has raised its full-year financial forecasts 'slightly' in the wake of a good nine-month performance. In the first nine months of 2007, revenues inched up to EUR 68.9 mln from EUR 68.7 mln while earnings before interest and ...
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PropertyEU Archive
Segro tightlipped over mega European shed portfolio
Segro, the UK and Paris-listed industrial property investment and development company, is reportedly in talks to acquire the majority of the EUR 750 mln pan-European industrial portfolio owned by Industrial Securities, a subsidiary of the Marcol Group.
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PropertyEU Archive
SFL sees property rentals, portfolio value rise
French company Società Fonciere Lyonnaise saw property rental income rise 3.5% to EUR 125.5 mln in the first nine months of 2007. SFL, a subsidiary of Spain's Inmocaral, said the occupancy level (excluding properties undergoing renovation) rose to 98.1% on 30 September from 97.7% at end-June.
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PropertyEU Archive
Nord/LB to mount EUR 485m bid for Deutsche Hypo
Regional German bank Norddeutsche Landesbank (Nord/LB) plans to launch a EUR 36.09 per share bid for listed mortgage bank Deutsche Hypothekenbank, Nord/LB said on Monday. The offer values Hanover-based Deutsche Hypo at EUR 485 mln and would rank Nord/LB as the third-largest mortage bank in Germany based on new real ...
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PropertyEU Archive
Eurocommercial acquires French malls for EUR 76.5m
Eurocommercial Properties (ECP) has acquired two shopping centres in France for a total of EUR 76.5 mln. The properties are located at St. Doulchard near Bourges and Chasse-sur-Rhône close to Lyon. Both are already income-producing, Eurocommercial said in its report on the company's first quarter 2007/2008 results up to 30 ...
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PropertyEU Archive
Raven Russia buys 50% stake in Kiev development
Raven Russia, the AIM-listed property investor specialising in commercial real estate in Russia, has acquired a 50% stake in an industrial development project in Kiev for an undisclosed sum. The deal is Raven Russia's first project in Ukraine. The company's partner in the joint venture is the closed-end fund Asnova ...
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PropertyEU Archive
Corio buys 8th retail property in Turkey
Dutch retail property developer Corio has finalised its 8th retail investment in Turkey with the acquisition of a 75,000-m[sup]2[/sup] shopping centre in Bursa in the north-west of the country. Expected to be anchored by a 24,000-m[sup]2[/sup] home furnishings store, a hypermarket and DIY outlet, the mall will be the most ...
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PropertyEU Archive
Aareal's 9-month net income 'quadruples'
International property lender Aareal Bank has released its nine-month results, showing consolidated net income after minority interests almost quadrupled to a record value of EUR 272 mln. Return on equity after taxes amounted to 31.4%.
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PropertyEU Archive
SPDE acquires retail project in Norway
Newly-established Scandinavian Property Development (SPDE) has signed an agreement to acquire a development project in Haugesund in Norway for EUR 27 mln. The project, dubbed 'Flotmyr', is predominantly retail and commercial and is part of the Haugesund Arena, home to a new stadium for the Haugesand soccer team as well ...
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PropertyEU Archive
PGGM not party to Vastned Retail bid
Dutch pension fund PGGM has said it is not part of the consortium making a hostile bid for property fund Vastned Retail. Last week IEF Capital, a joint venture of Bouwfonds Asset Management and Inflation Exchange Fund (IEF), indicated it will persist with its EUR 1.15 bn bid to acquire ...
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PropertyEU Archive
C&W predicts calmer waters for European real estate
Global real estate adviser Cushman & Wakefield will issue a report later this month that casts European real estate - if somewhat cautiously - in a sunny light, despite the gloom and doom of recent months. ‘A total of EUR 62.8 bn of commercial property was traded in Europe in ...
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PropertyEU Archive
Colliers wraps up purchase of Prague's Charles Square Center
The Czech division of global real estate consultant Colliers International has finalised the purchase of Charles Square Center, a landmark office property in Prague. The class A building, originally developed in 2002 by international property investor Golub, was acquired for EUR 90 mln for German fund Commerz Grundbesitz Investmentgesellschaft.
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PropertyEU Archive
Wells REIT II makes first international investment
Global property adviser CB Richard Ellis has advised Wells Real Estate Investment Trust II, a EUR 2.7 bn American office REIT, on its first international investment: a nine-storey tower under construction in Moscow.
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PropertyEU Archive
RGI raises EUR 208m from bond issue in Israel
AIM-listed RGI International announced on Tuesday that it has raised NIS 1,200 mln (about EUR 208 mln) in a private bond placement in Israel. Jacob Kriesler, RGI's chairman, said in a statement that 'the directors of RGI believe that RGI's balance sheet is currently cash rich but our longer term ...
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PropertyEU Archive
GE and Tishman to develop EUR 250m business centre in Sofia
GE Real Estate Central and Eastern Europe has teamed up with Los Angeles-based Tishman International to develop a mixed-used office, hospitality, logistics and light industrial project in the Bulgarian capital Sofia. The development cost for the Sofia Airport Center is about EUR 250 mln.
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PropertyEU Archive
Kungsleden clinches EUR 538m portfolio sale
Swedish-listed property company Kungsleden has signed an agreement with Norwegian asset manager Orkla Finans Kapitalforvaltning and Oslo-based financial services group DnB NOR to sell a large mixed portfolio of commercial properties in Sweden for SEK 5 bn (about EUR 538 mln).
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PropertyEU Archive
Mercialys confirms acquisition of five shopping centres
Listed French commercial real estate company Mercialys has confirmed the acquisition of five shopping centres on the French island of La Reunion in the Indian Ocean. The shopping centres, with a total surface area of 28,700 m2, are being bought from Vindemia, a wholly owned subsidiary of French retail group ...
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PropertyEU Archive
Immoeast adds Atrium Park to Hungarian portfolio
Listed Austrian real estate group Immoeast has announced the acquisition of the Atrium Park office development in Budapest in the form of a forward purchase, with total investment amounting to around EUR 100 mln. The project is located in Pest near Vaci Ut, the most important office location in the ...
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PropertyEU Archive
Aedes said to be on track despite disappointing quarter
Following on from increased operating profit and reduced net profit figures previously reported for the first half of 2007, Italian real estate company Aedes released its report for the third quarter this week. Gross revenue for the period amounted to EUR 9.9 mln, compared to EUR 89.1 mln for the ...
