All Real Assets articles in Web Issue – Page 175
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PropertyEU Archive
DIC Asset nine-month net income soars on portfolio expansion
German commercial real estate developer DIC Asset reported this week that consolidated net income over the first nine months of 2007 came to EUR 24 mln, more than three times the figure recorded for the same period in 2006. The company attributed the result primarily to stable rental income from ...
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PropertyEU Archive
WDP doubles Belgian land reserves
Listed Belgian logistics property developer and investor Warehouses De Pauw (WDP) has announced a doubling of its Belgian land reserves through the acquisition of 180,000 m[sup]2[/sup] of land at Europark Zuid II in St. Niklaas for EUR 19.5 mln. The site is a strategically important logistics location near the E17, ...
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PropertyEU Archive
Dragon-Ukrainian clarifies 'misconception' over private placement
Dragon-Ukrainian Properties and Development (DUPD), the real estate investment arm of Kiev-based investment bank Dragon Capital, has issued a statement to clarify misconceptions it says may have arisen at a press conference organised by the bank's brokerage unit last week.
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PropertyEU Archive
Cramo mulls sale-and-leaseback for Finnish real estate
Cramo, a major service provider to the construction industry in Northern Europe, is investigating the possible disposal of its real estate assets in its home country Finland in a sale-and-leaseback transaction during the first half of 2008. In a statement on Tuesday, Cramo said it has given the assignment to ...
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PropertyEU Archive
King Sturge sees turnover rise 22.5%
Property consultant King Sturge said on Tuesday that group turnover for the year ending April 2007 climbed to almost £198 mln (EUR 281 mln), up 22.5% on 2006. UK earnings accounted for £160.4 mln and overseas earnings came to £37.2 mln in what the company described as its second ...
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PropertyEU Archive
Skanska wins EUR 246m construction contract in UK
Swedish-based developer Skanska has been awarded a GBP 174 mln (EUR 246 mln) contract to redevelop Manor Hospital in Walsall, a large industrial town in the British West Midlands. Skanska itself will invest a total GBP 8.2 mln in the 33-year PFI scheme, giving it a 50% interest in the ...
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PropertyEU Archive
Immofinanz issues EUR 750m convertible bonds to cut debt
Listed Austrian real estate company Immofinanz said on Wednesday that it is to issue EUR 650 mln in convertible bonds to help reduce the company's bank debt and to bring about a 'stark reduction' in financing costs. There is an option to increase the bond issue by EUR 100 mln.
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PropertyEU Archive
Linstow launches largest retail development in Baltics
Linstow Centre Management has launched its 250,000 m[sup]2[/sup] Riga Retail Park development to coincide with the annual Mapic retail real estate trade fair in Cannes. The property development company, which focuses on North Eastern Europe, said it would be the largest retail development under single ownership and management in the ...
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PropertyEU Archive
Demolition begins at Wembley redevelopment
UK regeneration specialist St Modwen and its joint venture partner Rotch Property Group have begun demolition work at the £75 mln (EUR 105 mln) mixed-use redevelopment at Wembley Central train station. Due to be completed by Christmas, the site will then be redeveloped into a public square, forming a central ...
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PropertyEU Archive
London & Stamford disposes of Belgian holdings
London & Stamford Properties has sold its portfolio of Belgian warehouse units in the first transaction since the company's EUR 408 mln flotation on the AIM junior market of London Stock Exchange last week. The sale to Belgian-based real estate investment trust Ascensio for just over EUR 30 mln leaves ...
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PropertyEU Archive
Rental growth boosts Colonial nine-month profit
Spanish real estate company Immobiliaria Colonial reported net profit rose 7.2% to EUR 356.8 mln in the first nine months of 2007 compared with the year-earlier period on revenues of EUR 629.4 mln. Operating profit before interest amounted to EUR 662.6 mln, an increase of 4.5%, while net asset value ...
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PropertyEU Archive
CHC bullish over Solihull investment property
Dublin-based wealth management company Custom House Capital (CHC) is predicting strong equity returns for its investors following the completion of Portland House, a state-of-the-art, sustainably developed office building in Solihull, UK. The property was purchased in 2006 for about EUR 34 mln at an initial yield of 5.25%.
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PropertyEU Archive
Unibail-Rodamco: yield shift game is over in CEE retail
The shopping centre industry in Central and Eastern Europe is on the brink of a new era, according to Guillaume Poitrinal, CEO of Europe's largest listed property company Unibail-Rodamco. 'The investment-only phase is finished,' he said at the kick-off of a two-day conference programme at the Mapic retail fair in ...
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PropertyEU Archive
DTZ creates new Poland & Central Europe position
Global property adviser DTZ has created a new senior managerial position within its Northern European management structure in response to rapid growth in the region, particularly the shopping centre development boom.
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PropertyEU Archive
EPI leases De La Gardie shopping centre to Lindex
Finnish real estate equity fund Evli Property Investments (EPI) Baltic I has signed a long-term lease agreement with Swedish fashion chain Lindex for De La Gardie shopping centre in Tallinn. The lease covers three floors of premises and includes most of the 2,100 m[sup]2[/sup] rentable area. Lindex also has an ...
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PropertyEU Archive
Land Securities to split into three separate companies
Land Securities, the largest real estate investment trust (REIT) in the UK, confirmed on Wednesday that it plans to split into three separate listed companies: retail, London and outsourcing. Land Securities has investment property assets valued at £15 bn (EUR 21.2 bn) but its shares, like those of its ...
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PropertyEU Archive
C&W: retail rental rates on the rise in Moscow
Property consultant Cushman & Wakefield's latest Retail Market Snapshot for Moscow reveals that the average rental rate in shopping centres increased to $2,000 per m[sup]2[/sup] per annum in October, up from $1,850 in September. The highest rent rates were registered in the Central Disrict and Third Ring Road District (TRD) ...
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PropertyEU Archive
Tommy Hilfiger moves to Dusseldorf's Media Harbour
Tommy Hilfiger is moving its German headquarters in Dusseldorf to the city's Media Harbour district. The fashion firm is leasing 5,000 m[sup]2[/sup] in the Alte Mälzerei (Old Malthouse) at the Media Harbour from next year. Colliers Trombello Kolbel Immobilienconsulting acted for Hilfiger as consultant and estate agent in the transaction.
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PropertyEU Archive
Land Securities and Sainsburys form property JV
Land Securities has formed a 50-50 partnership with Sainsbury's to 'unlock development value' at the British supermarket group's stores. The joint venture, known as Harvest Limited Partnership, will initially involve three stores in Britain with an aggregate value of £113 mln (EUR 159 mln) and will run for an initial ...
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PropertyEU Archive
Rakeen showcases Uptown Tbilisi project at Mapic
UAE property developer Rakeen is showcasing its Uptown Tbilisi mixed-use development in the Georgian capital Tbilisi at the Mapic retail trade fair currently taking place in Cannes, France. It is the first time Rakeen is taking part in the exhibition.
