All Real Assets articles in Web Issue – Page 181
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PropertyEU Archive
Meinl European Land to be booted off Vienna prime market segment
Vienna Stock Exchange has announced it has terminated its contract with Meinl European Land (MEL) to trade on the bourse's Prime Market segment. The decision came days after the country's Financial Services Authority said the company had provided misleading information about a share buyback. The exchange said that the company ...
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PropertyEU Archive
Commercial property values will hold up as economy slows, say Irish CEOs
Seventy five percent of Irish chief executives polled in the 10th annual survey of the Top 1,000 CEOs by property advisor CB Richard Ellis said they were less optimistic about Irish economic prospects in the short to medium term than they were 12 months ago. Some 52% of survey ...
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PropertyEU Archive
London retains financial crown - DLA Piper
London will retain its position as the world's leading financial centre despite current market conditions, according to a survey of more than 100 of the leading real estate directors in the UK. The survey was conducted with chief executives, chief financial officers and directors who recently attended a real estate ...
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PropertyEU Archive
Dutch retailer rules out mass sell-off of retal estate
Dutch supermarket operator Ahold has decided not to engage in a major sell-off of its property after a review of its global real estate assets established that the market value of its portfolio was EUR 900 mln more than the book value of EUR 4.7 bn. 'The review clearly showed ...
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PropertyEU Archive
M&G property fund limits institutional investor redemptions
M&G, the EUR 1.04 bn offshore UK property fund, confirmed Friday that it is now requiring institutional investors to provide 90 days notice before redeeming investments, but denied a report in the Financial Times that the move was necessary to conduct an emergency sale of property assets.
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PropertyEU Archive
Rowan transfers property management to Imoplan and Skim
Rowan Asset Management announced on Friday that it has awarded a contract to a joint venture of Imoplan and Frankfurt-based Skim for the property management of the EUR 180 mln Andreas property fund in Germany. Rowan acquired the private equity German property fund in March 2006. The 100,000 m[sup]2[/sup] portfolio ...
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PropertyEU Archive
Sainsbury in EUR 110m sale and leaseback of depots
UK supermarket group Sainsbury's has divested two distribution warehouses this month in sale-and-leaseback deals worth a total of about EUR 110 mln. Two months ago Sainsbury's announced it would not be selling off the majority of its substantial property holdings - mainly comprising its supermarket premises - as part of ...
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PropertyEU Archive
Big Yellow and Pramerica funds in EUR 208m joint venture
UK self-storage group Big Yellow has teamed up in a £150 mln (EUR 208 mln) partnership with funds managed by Pramerica Real Estate Investors to develop up to 25 stores in the Midlands, the North of England and Scotland.
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PropertyEU Archive
Delek Global posts confident Q3 figures
Delek Global Real Estate (DGRE) said on Monday that its third-quarter results for the three months ending on 30 September were 'in line with management's expectations'. Net asset value rose 5% to £642.2 mln or 242 pence per share from £610.9 mln or 230 pence per share at 30 June, ...
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PropertyEU Archive
CA Immo buys into Warimpex's Airportcity project
Vienna-based Warimpex has sold 25% of the shares in Avielen, the company developing the Airportcity project in conjunction with St. Petersburg Airport, to CA Immo International. The multi-use project will comprise a four-star 300-room Crowne Plaza hotel as well as three office buildings with about 40,000 m[sup]2[/sup] of lettable space. ...
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PropertyEU Archive
Redevco Italy buys in Bari and Brescia
The Italian arm of Dutch property company Redevco has acquired the landmark Rinascente retail property in the southern Italian city of Bari from a private investor for about EUR 50 mln. The 50,000 m[sup]2[/sup] Rinascente Building' is located in the city's prime shopping district Via Sparano and is Redevco's first ...
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PropertyEU Archive
Punch Taverns denies report of Michells & Butlers talks
Leading UK pub company Punch Taverns has issued a statement denying reports that it has approached Mitchells & Butlers (M & B) to discuss a merger. UK newspaper The Times reported on Saturday that the two companies were in talks to bring about a EUR 7 bn merger that would ...
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PropertyEU Archive
DTZ sells the former Canadian Embassy in Rome
The former Canadian embassy building in Rome has successfully been sold by DTZ's investment agency for over EUR 19 mln. Acting on behalf of the Canadian Embassy DTZ negotiated the deal with Aled Spa, a real estate group on Rome's market led by the entrepreneur Eduardo Salvador Safdie. The five-storey ...
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PropertyEU Archive
Granen sells Stockholm mall development to DnB NOR
Swedish developer Granen, advised by Savills, has sold the Pentagonen 1 shopping centre to Norwegian property fund DnB NOR Eiendomsfond I for EUR 40 mln. Construction work began this summer and when completed in September 2008, the shopping centre in the retail area Kungens Kurva, south of Stockholm, will comprise ...
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PropertyEU Archive
Wichford moving to main section of London Stock Exchange
Wichford, the Isle of Man registered property investment company, has cancelled its listing on London's AIM in order to move onto the London Stock Exchange's (LSE) Official List. The cancellation will take place simultaneously with admission of the company’s shares to be traded on LSE’s main market on or around ...
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PropertyEU Archive
Redevco acquires Glasgow mall and office block for EUR 149m
Dutch property company Redevco has bought Glasgow's up-market Princes Square shopping centre for £100 mln (EUR 149 mln) in one of few deals of its kind since the onset of the turmoil in the credit markets. The transaction covered the 9,200 m[sup]2[/sup] mall and the 11,600 m[sup]2[/sup] Guildhall Office Development ...
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PropertyEU Archive
AMB expands Schiphol portfolio by 6,800 m2
AMB Property Europe announced on Tuesday that it has expanded its Schiphol portfolio of industrial real estate with the acquisition of about 6,800 m[sup]2[/sup] of distribution space.
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PropertyEU Archive
Yields to rise as investment slows in 2008, C & W forecasts
A total of EUR 62.8 bn of commercial property was traded in Europe in the third quarter of 2007, 23% ahead of the same period in 2006, according to a new report to be released later this month by global real estate adviser Cushman & Wakefield.
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PropertyEU Archive
Prologis European Properties invests EUR 51m in fund
Prologis European Properties (PEPR) has invested EUR 51 mln in Prologis European Properties Fund II (PEPF II), a private equity vehicle established to acquire assets from Prologis' EUR 3 bn development pipeline of distribution facilities in Europe. The new investment increases PEPF's share in the fund to EUR 133 mln ...
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PropertyEU Archive
Signa buys business tower in Zagreb for EUR 72m
Dusseldorf-based Signa Property Funds has acquired the Hoto Business Tower in the Croatian capital of Zagreb for EUR 71.6 mln. Regional bank Landesbank Hessen-Thuringen (Helaba) provided over EUR 50 mln for the deal, German trade journal Immobilien Zeitung reported on Tuesday.
