All Real Assets articles in Web Issue – Page 186
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PropertyEU Archive
Geodis sells logistics complex in Venlo
Logistics service provider Geodis has sold the logistics complex located in the southeastern city of Venlo to Lasalle Investments for an undisclosed price. The complex comprises 57,000 m[sup]2[/sup] lettable floor space and will be leased back to Rotterdam-based Geodis Vitesse. CB Richard Ellis advised Geodis.
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PropertyEU Archive
Construction starts for Multi's Forum Palermo
Construction work for Multi Development's 65,000 m[sup]2[/sup] Forum Palermo shopping mall development has begun. The scheme is being developed for an investment subsidiary of Multi Corporation and is scheduled to open in 2009.
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PropertyEU Archive
Sonae Sierra, Miller Developments sell Lima Retail Park
Portuguese retail property specialist Sonae Sierra and Miller Developments, a subsidiary of the UK property company, have sold the Lima Retail Park in Northern Portugal to the PREF fund for EUR 18.5 mln. The transaction makes PREF, the largest owner of retail parks in Portugal with four schemes totalling 67,000m[sup]2[/sup]. ...
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PropertyEU Archive
Plzen Plaza set to open its doors
Property advisor Jones Lang Lasalle announced on Tuesday that the letting process for the Plzen Plaza shopping centre in the Czech Republic has been completed and the 20,000 m[sup]2[/sup] mall is to open its doors on Wednesday. Plzen Plaza offers more than 110 shops as well as a 10-screen Cinema ...
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PropertyEU Archive
Garbe sells Hamburg's HQ to Norwegian investors
Norwegian investors Orkla Finans and BSA Capital, acting on behalf of the fund Prime Office Germany, have acquired the head office development of the Garbe Group in Hamburg's Hafencity for a total of EUR 33 mln. Garbe is leasing back the 5,700 m[sup]2[/sup] property which will serve as its headquarters ...
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PropertyEU Archive
Vib Vermogen spends EUR 26m on acquisitions
Vib Vermogen, the commercial real estate investor focused on Southern Germany, has expanded its portfolio with three new investments costing a total of EUR 26 mln. The assets are a shopping arcade in Lauf, a logistics centre under development in Mitterteich, and a land site in Frankfurt. The deals ...
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PropertyEU Archive
Arcandor adds EUR 4.5 bn property deal to Christmas wish list
Arcandor, the largest department store owner in Germany, has expressed confidence it will be able to put a signed contract for the sale of EUR 4.5 bn worth of property holdings to Pirelli Real Estate and Deutsche bank's RREEF unit 'under the Christmas tree'. This is the third time that ...
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PropertyEU Archive
Orco receives building permit for Zlota 44
Orco Property Group has received a construction permit for its flagship residential tower Zlota 44 in the centre of Warsaw. Designed by Polish-born celebrity architect Daniel Libeskind, the 192-metre tower will comprise 251apartments, a concierge service, sundeck, a 25-meter swimming-pool and a sauna. The first residents will move in during ...
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PropertyEU Archive
B&S Vastgoed buys Amsterdam property for EUR 58m
Dutch property investment fund B&S Vastgoed has acquired the 11,000 m[sup]2[/sup] Vitrum office building in Amsterdam from Urban Interest Real Estate Investment for EUR 58 mln. Property advisor Appelhoven acted for the buyer and Van Dijk & Ten Cate advised Urban Interest.
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PropertyEU Archive
Leviev appointed non-executive chairman of AFI Development
Lev Leviev, the diamond and property billionaire, has been appointed non-executive chairman of AFI Development, the AIM-listed developer focused on Russia. Leviev will replace the outgoing chairman Erez Meltzer on 1 January 2008. Meltzer is also setting down from his position as the CEO of Africa Israel Investments at the ...
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PropertyEU Archive
Blackrock International buys office property in Amsterdam
Irish real estate investor Blackrock International Land has purchased the Vida building in Amsterdam for EUR 25.5 mln. The building was developed in 2001 and comprises 10,000 m[sup]2[/sup] of office space over seven floors. The main tenants are a Dutch government agency, IT firm Webex and media company Time Warner. ...
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PropertyEU Archive
ING Bank sub-lets in Paris and takes space in Kiev
Dutch bank ING has sub-let part of its office space in the Coeur Defense tower in the Defense business district of Paris to State Street Bank. The US financial services group is leasing 1,800 m[sup]2[/sup] on the 8th floor of the building. ING is still looking for a tenant for ...
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PropertyEU Archive
Degi buys in Mannheim for German Business fund
German property fund company Degi has purchased an office and commercial building in Mannheim from LBBW Immobilien for the Degi German business fund. The financial details were not disclosed, but this is the latest in a serious of transactions that has propelled Degi into PropertyEU's rankings of top dealmakers in ...
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PropertyEU Archive
IPD produces first index of CEE property returns
The Investment Property Databank (IPD) has announced the consultative release of performance data from the new IPD CEE All Property Index. Currently comprising properties in Hungary, Poland and the Czech Republic, the index saw a headline euro-denominated total return for 2006 of 17.5%.
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PropertyEU Archive
ING closes mortgage for Henderson fund's Swedish properties
ING Real Estate has announced the closure of a EUR 57 mln mortgage loan for three Swedish properties held by Henderson Global Investors' Herald Fund. The fund has invested more than EUR 300 mln in several European countries and has a target size of EUR 1 bn.
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PropertyEU Archive
Sjaelso Gruppen sells retail projects to Investea
Danish real estate company Sjaelso Gruppen is selling two retail projects in the central Danish city of Svendborg to Investea for DKK 100 mln (EUR 12 mln). The first project is the development of a 5,000 m[sup]2[/sup] furniture store that will be leased to IDEmobler, the largest furniture retail chain ...
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PropertyEU Archive
Fair Value becomes 2nd German REIT
Fair Value Immobilien has become the second company to convert to the German equivalent of a tax-friendly real estate investment trust (REIT). The company focuses on the acquisition of stakes in closed-end real estate funds and the direct acquisition of commercial properties. It was registered as a G-REIT on Thursday ...
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PropertyEU Archive
3i and TCN end cooperation agreement
Private equity and venture capital firm 3i and Dutch real estate company TCN Property Projects have decided to abandon their partnership plans . After three months of investigating the possibilities, both sides have now decided not to work together. The cultures of the two parties differed too much, TCN said ...
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PropertyEU Archive
Mirland raises EUR 43m through bond issue
Russian residential and commercial property developer Mirland Development Corporation said it has raised about $63 mln (EUR 43 mln) through a bond issue.
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PropertyEU Archive
Trust purchases EUR 55.5m German logistics portfolio
Jersey-based Esther Charitable Trust has acquired a portfolio of 13 German properties for EUR 55.5 mln in a sale-and-leaseback transaction. The portfolio mainly consists of logistics properties. They are let to Italian textiles company Miro Radici Group on 12-year leases at an initial overall annual rent of EUR 4 mln.
