All Real Assets articles in Web Issue – Page 180
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PropertyEU Archive
Gran Sasso mall opens in Italy
Foruminvest Italia's new Gran Sasso shopping centre opens its doors on Thursday. The one-level shopping mall is located in Teramo near Gran Sasso mountain. The mall comprises 100 retail units on 36,000 m[sup]2[/sup]. There is also 5,000 parking places and a 7,000 m[sup]2[/sup] Conad Le Clerc hypermarket. Major tenants in ...
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PropertyEU Archive
'Serious' shortage of modern office space in the Netherlands
The shortage of high-quality, modern office space in the Netherlands is taking on serious proportions, according to the latest annual survey of the commercial property market carried out by publishing and research company PropertyNL and the association of Dutch developers Neprom.
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PropertyEU Archive
Telereal to snap up EUR 1bn RBS portfolio
UK property company Telereal is reportedly on the verge of acquiring real estate worth over EUR 1 bn from the Royal Bank of Scotland. The 200,000 m[sup]2[/sup] portfolio of 63 office and high-street bank properties, including the Queen's bank Coutts, generates an annual rent of more than EUR 65 mln. ...
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PropertyEU Archive
First Property H1 pre-tax profit £1.6m, up 167%
AIM-listed First Property Group on Thursday reported pre-tax profit for the six months to end-September were up 167% at £1.6 mln (EUR 2.22 mln), as diluted earning per share grew by 174% to 96p. The company said it would pay its first dividend, set at 0.15 pence per share. Revenues ...
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PropertyEU Archive
PPFs raise over £800m in Q3
Despite nervousness in the financial markets, UK pooled property funds (PPFs) continue to attract new investment, according to the Association of Real Estate Funds (AREF). AREF, which recently published its Investment Quarterly for Q3 2007, said that over £800 mln was raised in Q3 with increased inflows from existing pooled ...
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PropertyEU Archive
Aberdeen fund buys retail property in Belgium
Aberdeen Property Investors said on Thursday that one of its pan-European funds, Aberdeen European Balanced Property Fund, has acquired Zilverpand shopping centre in the Belgian city of Bruges from Vastgoed-beleggingsmaatschappij APF IV and Zilverpand. The 4,450 m[sup]2[/sup] mall consists of 25 units and is fully let. Cushman & Wakefield acted ...
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PropertyEU Archive
PIK acquires site in Perm
PIK plans to construct an urban area with 1.1 million m[sup]2[/sup] of net sellable space on an 124-hectare site the Russian residential developer has acquired in the Russian city of Perm. The development will be the first phase on a large site totalling 500 hectares which the local authorities in ...
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PropertyEU Archive
AFI takes stake in Moscow tower project
AFI Development, a property developer focused on the Russian market, has taken a 51% stake in the Botanic Garden mixed use project in northern Moscow for about EUR 14 mln. The 187,000 m[sup]2[/sup] Botanic Garden development includes three residential towers with a total lettable space of 67,000 m2, 14,700 ...
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PropertyEU Archive
Gecina and Metrovacesa split, share-swap goes ahead
French property firm Gecina said Thursday it had gone ahead with the proposed share swap with and separation from Spanish property giant Metrovacesa, bringing to an end the dispute between Metrovacesa's three main shareholders, the Sanahuja family, Joaquin Rivero and Bautista Soler. Following the move, Rivero and Soler are ...
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PropertyEU Archive
Fabian Romania hires joint broker, PR firm
Fabian Romania has hired KBC Peel Hunt as joint broker to act alongside it current advisers Deloitte Corporate Finance and Shore Capital Stockbrokers. KBC Peel Hunt is part of the KBC financial services group.
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PropertyEU Archive
C&W buys retail warehouse specialist Petch Hall
Property consultancy Cushman & Wakefield has acquired peer company Petch Hall, a retail warehouse specialist based in the North of England. No financial details were disclosed. The firm's owners, Chris Petch and Andy Hall, will both join C&W as partners and will be based at C&W’s Manchester office.
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PropertyEU Archive
Corio to sell office, industrial property
Dutch property firm Corio has confirmed it will sell off its office and industrial property portfolio. The move follows an investigation into the sell-off announced on 31 August. Corio said it still plans to complete the sale in the first half of 2008. The company has hired Jones Lang Lasalle ...
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PropertyEU Archive
Fonciere des Murs subsidiary to acquire 6 hotels in Italy for EUR 128m
Beni Stabili Hotel, a subsidiary of French property group Fonciere des Murs, said it has committed to the acquisition of six hotels in a transaction worth EUR 128 mln. The hotels - one in Rome, one in Turin and two each in Milan and Florence - are currently managed by ...
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PropertyEU Archive
Top 5 deals of Week 47 (19-23 November)
Santander was once again at the centre of the major real estate deals of the week when it was announced on Friday that Sun Capital Partners is to buy 1,200 retail branches from the Spanish bank for EUR 2 bn. A week earlier Santander sold 10 office buildings for EUR ...
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PropertyEU Archive
Expo Italia 2008 to focus on sustainability
Sustainability is set to be one of the main themes of the 2008 edition of Expo Italia Real Estate (EIRE), slated for 10-13 June at Milan's trade fair on the outskirts of the city. To that end, organisers say a special forum will be held to discuss the theme ...
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PropertyEU Archive
GPT Halverton buys light industrial asset portfolio for EUR 32m
GPT Halverton said it has acquired a portfolio of light industrial assets in North Rhine-Westphalia, Germany for its EB8 logistics fund, for EUR 32.2 mln. In total, GPT Halverton acquired five properties at two sites, totalling 82,500 m[sup]2[/sup] of net lettable area, in the towns of Loehne and Bad Oeynhauses. ...
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PropertyEU Archive
Degi invests EUR 41m in Brussels office property
Property fund company Degi Deutsche Gesellschaft fur Immobilienfonds has purchased a fully-let office building in central Brussels on behalf of its Degi International fund for a total investment of EUR 41.2 mln. The finance department of the Belgian government currently occupies the 12-storey building in Avenue Louise, with 26,405 m[sup]2[/sup] ...
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PropertyEU Archive
Top 5 deals Week 47 (details)
Here are the top five deals in terms of investment volume as recorded by PropertyEU for Week 47.
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PropertyEU Archive
Santander books EUR 800m capital gains from office sale
Spanish bank Santander has sold an network of almost 1,200 bank premises to Sun Capital Partners, insurer Pearl Group and Drago Real Estate Partners for EUR 2 bn. The bank said it has booked EUR 800 mln in capital gains from one of the largest commercial real estate transactions in ...
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PropertyEU Archive
Vastned won't meet hostile bidder's due-diligence deadline
Vastned has admitted that it will not be able to meet the 26 November deadline set by hostile bidder IEF Capital for the provision of separate information about Vastned's performance. The Dutch listed retail property fund reiterated in a statement on Friday that it was opening its books to all ...
