All Real Assets articles in Web Issue – Page 184
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PropertyEU Archive
XXI Century receives green light for mixed-use development
XXI Century Investments has been granted a permit to begin construction of a major mixed-use development in the Ukrainian city of Virlytsia. The project will cover about 993,000 m[sup]2[/sup] of total area in a high-density residential community of some 282,000 people, the Ukrainian real estate company said. The plans envisages ...
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PropertyEU Archive
Development Secs completes sale of Oriental City
Development Securities has completed the sale of the Oriental City retail scheme in London to a private property investor. The purchase price comes to £68 mln (EUR 95 mln) in cash and loan notes payable on or before 30 June 2008. Development Securities said earlier that it would realise a ...
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PropertyEU Archive
Echo signs Tesco as tenant for Polish mall
Echo Investment has reached a preliminary agreement on a 30-year lease with the Polish arm of UK supermarket chain Tesco for almost 9,000 m[sup]2[/sup] of commercial space at the planned Arena shopping-entertainment centre scheme in the Polish city of Slupsk.
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PropertyEU Archive
JP Morgan, Metrovacesa offer EUR 1.7b for Santander's HQ
Spanish property giant Metrovacesa and JP Morgan are offering more than EUR 1.7 bn for Banco Santander's Boadilla del Monte headquarters, newspaper El Economista reported, citing unnamed sector sources. The newspaper added that Santander could book EUR 1 bn in capital gains from the operation, which is set to be ...
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PropertyEU Archive
Derek Quinlan, Propinvest complete EUR 1.4 bn Citigroup deal
Irish investor Derek Quinlan and Propinvest, a London-based private investment company, have completed the acquisition of the European headquarters of Citigroup Bank in London from Royal Bank of Scotland for £1 bn (about EUR 1.4 bn). The trophy asset will be leased back to Citigroup for 25 years.
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PropertyEU Archive
FDL completes deals worth EUR 500 mln
Fonciere Developpement Logements (FDL) said that it has completed several previously announced property transactions in France and Germany for a total investment volume of EUR 500 mln. Last July, the company said it was buying 1,086 residential units in the Paris region for about EUR 398 mln, reflecting a yield ...
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PropertyEU Archive
ING Real Estate acquires Hungarian mall for CEE fund
Dutch property company ING Real Estate has acquired the Campona shopping centre in Budapest from Compagnie Immobiliere de Belgique for EUR 110 mln. The property is being added to the ING Property Fund Central and Eastern Europe (ING PFCEE), a semi-open ended real estate fund with a target size of ...
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PropertyEU Archive
Segro adds to Dutch portfolio
Segro, the London and Paris-listed logistics real estate investment trust (REIT), has strengthened its presence at Amsterdam's Schiphol Airport with the acquisition of a property consisting of three office and logistics buildings at the nearby Skypark business park. The total surface of the buildings is approximately 7,200 m[sup]2[/sup] and tenants ...
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PropertyEU Archive
Areim Fund I shops in Stockholm
Andersson Real Estate Investment Management's newly launched fund Areim Fund I has made its first two investments with the purchase of a 7,500 m[sup]2[/sup] office development in the Hammarby Sjöstad area of Stockholm and a 40,000 m[sup]2[/sup] office in Kista, Stockholm, previously owned by Klövern and SEB Trygg Liv. In ...
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PropertyEU Archive
B&B European infrastructure fund reaches final closing
Australian investment and asset management group Babcock & Brown (B&B) has announced the final closing of its European Infrastructure Fund (BBEIF). The total commitments of EUR 2.17 bn exceed the initial target of EUR 1.5 bn.
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PropertyEU Archive
Brixton buys at Heathrow
UK's listed property company Brixton has bought the Mercury Centre complex in Heathrow, the UK, from Coal Pension Properties for some £11 mln (EUR 15 mln). This late 1980s estate comprises six units totalling 54,400 sq ft (5,060 m2) and generating rent of £485,000 per annum (£8.92 per sq ft). ...
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PropertyEU Archive
Hansainvest snaps up Finnish building
Hamburg-based property company Hanseatische Investment (Hansainvest) has bought an office building in the Finnish city of Espoo from elevator maker Kone for EUR 35 mln. In a statement, Kone said it will occupy the building as a tenant under a long-term lease agreement.
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PropertyEU Archive
Irish investor buys into London's Victoria Street
Irish investment company D2 Private is reportedly buying a government-occupied block in London's West End for £180 mln (EUR 254 mln). In September Legal & General's Life and Linked Life funds put the 31,600 m[sup]2[/sup] block up for sale for £200 mln, but the ongoing credit crunch forced them to ...
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PropertyEU Archive
NCB Capital launches shariah-compliant property fund
Saudi property investment and manager NCB Capital said that it has set up the world's first shariah-compliant property fund. The Alahli Global Real Estate Fund (GREF) will invest in companies whose activities are in real estate development across the world. The new fund will be active in a market that ...
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PropertyEU Archive
Icade to convert to SIIC status
The board of French property group Icade has approved the merger between the company and its four units – Icade, Icade Fonciere Publique, Icade Patrimoine, and Icade Fonciere des Pimonts - to clear the way for the company to convert to a SIIC, the French equivalent of real estate investment ...
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PropertyEU Archive
DDS sees opportunity in 'credit crunch'
Dawnay Day Sirius (DDS) believes that the uncertainty in the financial markets is postive for the company as the crisis is reducing the number of competitors in the property market.
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PropertyEU Archive
Implenia, Russian Land join forces in new Russian JV deal
Swiss construction services group Implenia is teaming up with Russian property developer Russian Land in a new 50/50 joint venture called Russian Land Implenia (RLI). RLI will take over the planning, execution and subsequent management of all Russian Land's 16 construction projects, including the redevelopment of the former Hotel Rossia ...
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PropertyEU Archive
Degi buys Sunshine portfolio in Germany for EUR 155m
German property fund Degi has purchased the Sunshine portfolio from IVG Institutional Funds for a total volume of EUR 155 mln. The portfolio comprises seven properties in Berlin, Hamburg, Munich and Dusseldorf, as well as the regional centres Bonn and Nuremberg.
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PropertyEU Archive
Scenari Immobiliari: Italian real estate funds up 25% in 2007
Italian real estate funds are set to increase in value from EUR 19.36 bn in 2006 to EUR 24.2 bn by the end of 2007, according to the latest research report by Italy's research institute Scenari Immobiliari. This represents an increase of 25% year-on-year compared to 2006. Scenari Immobiliari is ...
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PropertyEU Archive
Fabege spends EUR 244m to expand Stockholm portfolio
Swedish property company Fabege is buying two office buildings in central Stockholm from peer Niam for a total SEK 2 bn (EUR 212 mln). The first property, Trängkåren 7, comprises around 56,000 m[sup]2[/sup] of lettable space, of which 47,000 m[sup]2[/sup] is office space. The second property, Grönlandet Södra 13, comprises ...
