All Real Assets articles in Web Issue – Page 183
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PropertyEU Archive
Hypo RE finances EUR 360m of European loans
German bank Hypo Real Estate said that it has provided loans over the last month worth a total of circa EUR 360 mln. The financing facilities consist of an EUR 45 mln multi-country loan to the AIM-listed Ablon Group, on 13 November 2007, to refinance a portfolio of two office ...
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PropertyEU Archive
AEW Europe-Curzon's Central European fund raises EUR 377m
AEW Europe/Curzon has announced that its Central European fund PBW II raised equity of EUR 377 mln following the final closing. PBW II is the follow-on fund to the successful value-added central European closed-end PBW I with an existing portfolio of about 200,000 m[sup]2[/sup] of assets in Budapest, Warsaw and ...
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PropertyEU Archive
Quinlan Private sets up EUR 450m JV in Hungary
Irish property investor Quinlan Private announced on Thursday that it is teaming up with Hungarian real estate developer SCD Group in a EUR 450 mln development programme at Lake Balaton, Western Hungary. The investment programme will be led by SCD and QP's development arm in Central and Eastern Europe, Quinlan ...
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PropertyEU Archive
Canadian pension fund buys 50% of London office complex
Land Securities is selling a 50% stake in its Thomas More Square Estate in London for £131.5 mln (EUR 184 mln), just four months after acquiring the property for £250 mln from Axa REIM and GIC, Singapore's investment arm. In a statement on Thursday, Land Securities said the stake is ...
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PropertyEU Archive
Nexity wins management contract for 77 Citigroup properties
French property company Nexity said that its Nexity-Saggel unit has been awarded a property management contract from Citigroup covering 77 public services sites in France. The bidding contest was organized by DTZ Asset Management. The properties are located in the Paris region, Rhone-Alpes region and Eastern France.
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PropertyEU Archive
Beos acquires Carlswerk complex
Berlin-based Beos, on behalf of an international group of investors, has acquired the Carlswerk mixed-use complex in Cologne-Mülheim in an off-market transaction from NKT Cables. Financial details were not been disclosed.
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PropertyEU Archive
JLL acquires Group Tetris in France
Jones Lang LaSalle said on Thursday that it has acquired Group Tétris, an office design, site management and business relocation company in France. The purchase is aimed at reinforcing JLL's 'ability to support businesses throughout the entire lifecycle of their real estate projects'. Financial details of this transaction were not ...
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PropertyEU Archive
Rugby's 'exit REIT' makes offer for property investor
Rugby Estates Investment Trust (RugbyReit) has made an offer worth £21.5 mln (EUR 30 mln) to aquire the entire share capital of George Philip Properties Group (GPPG) from private investors. GPPG has assets in London and Northern Ireland valed at £26.7 mln which generate a rental income of £1.1 ...
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PropertyEU Archive
M&B mulls property spin-off
UK pub chain Mitchells & Butlers said on Thursday that it is considering transferring its property assets into a real estate investment trust and added it has received a proposal from R20, the investment vehicle of UK-based property tycoon Robert Tchenguiz, regarding the new tax-efficient vehicle. The move is ...
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PropertyEU Archive
Signa shops in Zagreb
Düsseldorf-based closed-end fund Signa Property Funds has acquired the Hoto business tower in the Croatian city of Zagreb for EUR 72 mln. The building, built in 2004, is let to the Croatian subsidiary of Deutsche Telekom, Hrvatski, through 2019. In a statement, Signa said that Hrvatski is occupying about 25,576 ...
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PropertyEU Archive
Invista's NAV per share up 11.7% since Dec 2006 offering
Invista European Real Estate Trust (IERET) said its unaudited net asset value (adjusted to add back deferred taxation) in the year ending September 30, amounted to EUR3.11 per share, or an 1.4% increase over the quarter. Since the closed-end investment company’s shares were floated on the London Stock ...
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PropertyEU Archive
Hammerson pays £134m to the City for Bishops Square
Hammerson, the real estate investment trust (REIT) focusing on the UK and France, has agreed the final payment terms for the acquisition of the long leasehold interest in Bishops Square from the City of London Corporation. Hammerson entered into a joint venture with the Corporation to develop the scheme in ...
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PropertyEU Archive
Veris buys Orange facilities management group for EUR 14m
Veris, the Irish integrated property services group, has agreed to pay EUR 14 mln to acquire Orange Environmental Building Services and Orange Support Services, a group of facilities management companies headquartered in Hampshire, England.
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PropertyEU Archive
Signa acquires Bawag portfolio for EUR 200m
Tyrolean real estate investor Rene Banko's Signa has bought a portfolio of 16 office buildings from Austrian bank Bawag PSK. Although the parties declined to comment on the financial details, newspaper Die Press said the portfolio, valued at EUR 450 mln, was sold for just EUR 200 mln as the ...
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PropertyEU Archive
Orco's revenues soar 270% as development activities boom
Orco Property Group said its revenues soared 270% to EUR 213 mln in the nine months to end-September, as net profit jumped to EUR 68.4 mln from EUR 22.9 mln. Operating profit rose to EUR 109.3 mln from EUR 33.3 mln.
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PropertyEU Archive
Skanska to build Oslo offices for Hydro in EUR 40m contract
Sweden's Skanska has been awarded a EUR 40 mln contract to construct a new 15,000 m[sup]2[/sup] office building in Oslo for Norwegian company Hydro. The new four-storey building will be located next to Hydro's existing headquarters in Vækerø, outside of Oslo.
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PropertyEU Archive
UK and Irish property ownership to double in 5 years
The value of foreign property owned by both citizens and residents of the UK and Ireland is set to roughly double over the next five years, according to a study carried out by Datamonitor on behalf of Overseas Property Professional Magazine.
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PropertyEU Archive
Vicus sells three properties in Baltic States
Finnish real estate investor and developer Vicus has sold three properties in the Baltic States to Catella Real Estate's investment fund Focus Nordic Cities. Two of the assets are located in Latvia and one is in Estonia. The total transaction value comes to about EUR 24 mln.
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PropertyEU Archive
Behringer Harvard enters the UK
US property company Behringer Harvard has entered the UK with the acquisition of a long-term leasehold interest in Becket House, in the City's financial district, for an undisclosed amount. The property offers 4,300 m[sup]2[/sup] of office space that is fully leased to Citigroup and Wavecrest UK.
