All Real Assets articles in Web Issue – Page 188
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PropertyEU Archive
Suitors call on Vastned Retail
Dutch listed retail property fund Vastned Retail has confirmed it has received non-binding indications of interest from a number of potential bidders. The company said it will assess the interest shown and decide which of the parties will be given access to its data room to carry out due diligence. ...
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PropertyEU Archive
San Jose sells 12% stake in Parquesol for EUR 107m
Spanish property group San Jose has sold a 12% stake in real estate company Parquesol to Labaro for EUR 22.50 per share. The sale, for a total EUR 107 mln, cuts San Jose's stake in Parquesol to just under 51%. In a statement, Parquesol said the transaction was aimed at ...
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PropertyEU Archive
Citycon to invest EUR 130m in Estonian mall
Finnish property firm Citycon has said it will invest EUR 39 mln in the second and third phases of the redevelopment of the Rocca al Mare shopping centre in the Estonian capital of Tallinn. Citycon's total investment in the mall will be about EUR 130 mln, consisting of a EUR ...
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PropertyEU Archive
Hines' Pan-European fund acquires 15 Suffolk St in London's West End
Hines' Pan-European Core Fund (HECF) has acquired a prime West End office building in London from Arab Investments for an undisclosed sum. Located at 15 Suffolk Street in St. James, the property is the fund's first asset in the London office market. It is fully leased to boutique investment manager ...
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PropertyEU Archive
New Star cuts UK fund's value by 18%
Fund manager New Star has cut the value of its flagship UK property fund by 8.2%, taking the total reduction since July to 17.8%. The move, which reflects falling confidence in the UK real estate sector, follows the revelation last week that several open-ended funds have imposed redemption limits on ...
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PropertyEU Archive
GE Real Estate spends EUR 205m in Germany
GE Real Estate has acquired a portfolio of primarily commercial properties in Germany from several institutional investors for EUR 205 mln. The portfolio comprises 31 properties with a total area of 170,000 m[sup]2[/sup] located mainly in the east of the country (Berlin and the states of Saxony and Thuringen). Some ...
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PropertyEU Archive
Martinsa-Fadesa sells 50% of Moroccan unit
Spanish property group Martinsa-Fadesa is selling a 50% stake in its Moroccan unit, Fadesa Maroc, to the Casablanca-listed property company Addoha. The transaction will be carried out through the sale of EUR 114 mln worth of shares and will be completed by January 1, 2007.
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PropertyEU Archive
Babcock & Brown sells 70% of Swiss retail portfolio to jv
International investment and specialised fund and asset management group Babcock & Brown has formed a joint venture with a European high net-worth investor. 'The divestment represents approximately EUR 233 mln of the EUR 750 mln in real estate held for sale,' said Eric Lucas, global head of real estate at ...
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PropertyEU Archive
Stam Europe buys six assets for EUR 72m
Paris-based real estate investment banking firm Stam Europe has acquired a private company that owns a portfolio consisting of six office and logistics assets in the Paris region. The properties provide a total surface area of 40,000 m[sup]2[/sup] and have an occupancy rate of 90%.
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PropertyEU Archive
SEB ImmoInvest adds Japanese office to Asian portfolio
SEB Immobilien-Investment has acquired the New City Tama Center in Tama, southwest of Tokyo, for its mutual fund SEB ImmoInvest. The total investment volume for the property sold by New City Corporation comes to EUR 120 mln.
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PropertyEU Archive
Germany's NAEV and Danish fund ATP adjust RE allocation
Nordrheinische Arzteversorgung (NAEV), the EUR 8.5 bn German doctors' fund, plans to overhaul its property investments by cutting its direct real estate holdings in Germany. According to IPE Real Estate, the fund's property portfolio is currently split between its direct domestic real estate holdings, valued at EUR 675 mln, and ...
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PropertyEU Archive
Aisa in talks to merge with Hemeretik
Catalan listed real estate company Aisa has said that it is in merger talks with Barcelona-based construction group Hemeretik. The company added that no agreement has yet been reached but the companies have set a deadline of 30 June next year to decide whether to proceed with a merger or ...
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PropertyEU Archive
Schroders launches new retail/logistics fund in Italy
Global asset management Schroders has launched its second closed-end property fund in Italy focusing on the retail and logistics sectors. The Schroder Italian Property Fund No. 2 will target a portfolio of between EUR 600 mln and EUR 750 mln. The new fund will provide institutional investors with the opportunity ...
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PropertyEU Archive
Alstria Office buys German assets for EUR 111m
Hamburg-based Alstria Office REIT is to acquire a portfolio of 13 German properties for EUR 111 mln in the company's second transaction since converting to the German equivalent of a real estate investment trust in October. The price reflects a net initial yield of 6.9%.
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PropertyEU Archive
Degi spends EUR 122m in Rome
German property fund company Degi has acquired an office project in Rome for its Degi International fund from Parsitalia for EUR 122 mln. The 17,600 m[sup]2[/sup] building will be the headquarters for Procter & Gamble's Italian business when it is completed by late 2008. Cushman & Wakefield advised the ...
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PropertyEU Archive
Plaza acquires 3rd retail development in Serbia
Plaza Centers said on Wednesday that it had acquired its third retail development in Serbia and that the estimated development budget for the 40,000 m[sup]2[/sup] shopping and entertainment centre in Belgrade was EUR 105 mln.
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PropertyEU Archive
Spazio sheds Italian assets for EUR 37m
Spazio Investment has announced the sale of 39 buildings in Veneto on behalf of its Italian closed-end real estate fund Spazio Industriale. The buildings are currently leased to Telecom Italia and will be sold to local investors for a total EUR 31.3 mln , representing a 3.4% premium to open ...
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PropertyEU Archive
Doughty Hanson sells EUR 700m of property in three days
Doughty Hanson has announced it is selling the Maciachini Center office development in Milan, bringing the UK property fund manager's total sales volume to almost EUR 700 mln in just three days.
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PropertyEU Archive
Prologis secures new EUR 900m credit facility
Prologis European Properties (PEPR), Europe's largest owner of modern distribution facilities, said on Wednesday that it has established a new EUR 900 mln senior unsecured credit facility. The credit line was arranged through a syndicate of 19 banks led by Bank of America Securities and ABN Amro.
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PropertyEU Archive
Gecina expands its student accommodation holdings
French property company Gecina has acquired the Euralille Tour V in Lille as part of its strategy to expand in the student residence segment. The transaction price of EUR 14.2 mln reflects a yield of more than 7%.
