All Real Assets articles in Web Issue – Page 179
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PropertyEU Archive
Henderson's retail fund raises EUR 280m in 2nd closing
Asset manager Henderson Global Investors has announced that the second closing of Herald, its pan-European retail property fund, raised EUR 280 mln in additional equity. The fund has so far raised over EUR 700 mln of equity and should reach a fully invested fund size of about EUR 1.5 bn.
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PropertyEU Archive
Plaza Centers makes first acquisition in Bulgaria
Israeli company Plaza Centers has made its first investment in Bulgaria through the acquisition of a retail development project in Shumen, a city in the northeast of the country. The development costs of the new shopping and entertainment centre are estimated at EUR 38 mln.
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PropertyEU Archive
Europa Capital shops in Oslo and Birmingham
Europa Capital, acting on behalf of its Europa Fund II, has completed the acquisition of an office building at Olaf Helsets Vei 5 (OH5) in southeast Oslo from Acta, the Oslo municipality pension fund, for NOK 569 mln (EUR 71 mln). OH5 provides 44,000 m[sup]2[/sup] of office, educational, light industrial ...
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PropertyEU Archive
Deka Immobilien sells office building in Lyon
Deka Immobilien's fund Westinvest I has sold the Atrium office building in Lyon, France, for some EUR 68 mln. The property has been acquired by UFG REIM. The building consists of 16,160 m[sup]2[/sup] of office space as well as 453 parking spaces. Delivered in 2005, the Atrium has an occupancy ...
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PropertyEU Archive
Erinaceous COO and executive deputy chairman resign
Listed UK property services company Erinaceous announced on Tuesday that executive deputy chairman Neil Bellis and chief operating officer Lucy Cummings have resigned from the company board. Bellis, the former chief executive, and Cummings had been the focus of shareholder dissent earlier this year. The hedge fund Fursa Alternative Strategies, ...
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PropertyEU Archive
RICS: investor confidence at four-year low
Tenant demand for commercial property was pulled down by a weak retail sector in the third quarter as investors shunned the market, according to the RICS Commercial Property Survey for the third quarter of 2007. For the first time in over two years there were more chartered surveyors reporting a ...
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PropertyEU Archive
Prologis to develop first distribution facility in Middle East
Prologis announced plans on Tuesday to develop its first distribution centre in the Middle East. The company has signed an agreement to design and build a 798,000 sq ft (74,000 m2) facility in Dubai for the transportation solutions provider Aramex. The new facility is being developed in Dubai Logistics City ...
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PropertyEU Archive
Skanska develops mixed-use project in Stockholm
Skanska is developing and selling a combined office and residential project in Hammarby Sjöstad in Stockholm. The total price tag amounts to about SEK 450 mln (EUR 48 mln). Developed by Skanska Sweden, the project consists of a residential building with 80 apartments and a 6,000-m[sup]2[/sup] office building. These are ...
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PropertyEU Archive
Orco Germany graduates to regulated market in Frankfurt
Orco Property Group announced on Tuesday that shares in its German subsidiary have been admitted to the regulated market of the Frankfurt Stock Exchange. Orco Germany's entire share capital, or about 49 million shares, has been listed on the exchange's open market since 2006. The new listing gives the company ...
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PropertyEU Archive
Redos sets up new retail unit
Germany's Redos Real Estate said on Tuesday that it has launched a new retail unit under the name Redos Retail Asset Management (RRAM). Besides private equity investments in property portfolios and real estate projects, Redos RE will now offer retail-oriented asset management for its own co-investments and third investors, the ...
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PropertyEU Archive
Sellers' syndicate bids for 10% stake of Conwert
A syndicate confirmed on Wednesday that it intends to make a voluntary public bid for up to 10% of listed Austrian real estate company Conwert Immobilien. The bidding group, known as Albertgasse 35 Beteiligungs, was formed by the sellers of 25 property management and property service companies being acquired by ...
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PropertyEU Archive
Intervest Retail sells asset for EUR 10m below book price
Belgian property investment fund Intervest Retail has sold its factory outlet centre in Messancy, Luxembourg for EUR 12 mln. The management of the fund said that it expects the sale will strongly improve Intervest Retail's operating result despite the fact that the sale price was EUR 10.5 mln below the ...
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PropertyEU Archive
Hypo provides EUR 45m financing for Ablon
Hypo Real Estate Bank International announced on Wednesday that it has provided a EUR 45 mln facility to Ablon Group, the AIM-listed developer and real estate investor in Central and Eastern Europe. The facility will be used to refinance a portfolio of two office buildings located in Budapest and an ...
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PropertyEU Archive
WP Carey acquires Lindenmaier's global HQ
US investment firm WP Carey has acquired the global headquarters and largest production facility of German auto parts manufacturer Lindenmaier for an undisclosed sum. Lindenmaier is leasing back the property and a separate industrial warehouse on a long-term basis. WP Carey is also providing EUR 21.8 mln in financing ...
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PropertyEU Archive
Orco unveils five projects across Europe
Orco Property Group has unveiled plans for five new development projects in Berlin, Bratislava, Budapest and Prague. The company announced at the Mapic fair in Cannes last week that it will transform a Unesco World heritage site on Andrassy Avenue in Budapest into a modern mixed-use project. The second Hungarian ...
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PropertyEU Archive
Chagala in Aksai residential joint venture
Kazakh real estate developer Chagala Group has signed a joint venture agreement with Maverick, a company based in the town of Aksai to renovate, own and operate a residential and recreational facility in the centre of the town. The joint venture company expects to become fully operational in the second ...
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PropertyEU Archive
Invesco Property to sell assets, postpone share issue
Invesco Property Income Trust has revealed it is negotiating the sale of £100 mln (EUR 140 mln) of property assets and is putting a planned share issue on ice after a 'difficult' six months. The proceeds of the sale will be used to reduce the UK closed-end fund's debt of ...
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PropertyEU Archive
Lack of investment grade retail centres in Turkey - DTZ
Turkey is one of the most attractive markets for global real estate funds, but the lack of investment grade retail assets remains a major concern to retail investors, according to DTZ. In its Turkish retail market overview for 2007, the global property adviser notes that the number and value of ...
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PropertyEU Archive
Unibail-Rodamco names CEO of new development unit
Unibail-Rodamco, Europe's largest listed real estate company, has appointed Bertrand Julien-Laferriere to lead its new development unit, Unibail-Rodamco Development.
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PropertyEU Archive
HDG expands network to Dubai
International property specialist HDG Mansur has opened a new office in the Middle East. Located in the Dubai International Financial Centre (DIFC), the company said the move will enable it to expand into an industry-based market while serving in the fund management capacity.
