All Real Assets articles in Web Issue – Page 19
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PropertyEU Archive
GE acquires two London office properties for EUR 37 mln
The UK arm of GE Real Estate has acquired two office properties in London for about £25.1 mln (EUR 37 mln. Commercial Property News reported that GE Real Estate bought 4 Tenterton Street, near Hanover Square in the West End, for £17.6 mln from Scotts Ltd. and 16-18 New ...
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PropertyEU Archive
Ahold to sell Polish operations for EUR 375 mln
Dutch retail group Ahold plans to sell its operations in Poland to France's Carrefour in a deal valued at EUR 35 mln. Ahold currently operates 179 supermarkets under the 'Albert' brand, four Hypernova hypermarkets and four gas stations in Poland. It employs about 10,000 people.
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PropertyEU Archive
Work begins on EUR 50 mln Milan office property
Construction work has begun on a 18,000 m[sup]2[/sup] office building att he MiNEC business park development in the north-east of Milan. The MiNEC West building has been pre-sold by Ulisse Due to a client of Wharton Asset Management for EUR 50 mln, property advisor DTZ said. DTZ and Iambic Estates ...
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PropertyEU Archive
IVG tipped to buy London's 'Gherkin' for almost EUR 891 mln
The Asticus unit of Germany's IVG Immobilien has won the battle to buy the landmark 'Erotic Gherkin' skyscraper in the City of London from reinsurer Swiss Re for close to £600 mln (EUR 891 mln), UK newspaper Sunday Times has reported. Without citing any sources, the paper said Swiss Re ...
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PropertyEU Archive
Pirelli to raise EUR 90 mln in treasury sale sell-off
Italian real estate company Pirelli RE is to sell 1.67 million treasury shares - 3.9% of its total share capital - to institutional investors to raise about EUR 90 mln. In a statement, Pirelli said it had mandated Deutsche Bank to place the treasury shares to 'free up capital to ...
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PropertyEU Archive
Foundation stone laid for La Coruna mall
Francisco Javier Losada de Azpiazu, the mayor of La Coruna and the managing director of Multi Development Spain, Victor-Manuel Gomez Izquierdo, have this week laid the foundation stone to mark the start of construction work of the Espacio Coruna mall in Galicia, north-western Spain.
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PropertyEU Archive
EIBL plans EUR 100 mln London IPO
Equest Investments Bulgaria Limited (EIBL), an Irish-listed investment company focusing on the Balkan region, is to seek admission of its ordinary shares to trading on the Alternative Investments Market (AIM) of the London Stock Exchange. The company expects to be admitted by the end of December and to raise ...
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PropertyEU Archive
Curzon/IXIS AEW fund closes at EUR 317 mln
The Curzon Funds Group of real estate investment manager IXIS AEW Europe has announced the second closing of the Euroffice Fund at a total equity of EUR 317 mln - well above the target of EUR 200 mln. The pan-European office fund is dedicated to French institutional investors, including prominent ...
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PropertyEU Archive
Australian investor buys Munich properties for EUR 360 mln
Reit Asset Management Munich has sold a mixed portfolio of 67 properties to Australian investor Multiplex European Property Fund for about EUR 355 mln. The properties are predominantly located in medium-sized town in western Germany. The company still holds property assets valued at some EUR 900 mln and it plans ...
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PropertyEU Archive
ING RE takes 50% stake in Warsaw retail property
ING Real estate Investment Management has agreed to acquire a 50% stake in Wars Sawa & Junior, a retail and office premises in the Polish capital Warsaw. The property, consisting of 30,000 m[sup]2[/sup] of prime retail space, is located on Marszalkowska Street - one of the main streets in the ...
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PropertyEU Archive
ABN to move into 7 WTC
ABN Amro has signed a lease for 14,800 m[sup]2[/sup] in the new 7 World Trade Centre building in New York. The Dutch banking giant will occupy the top four floors of the building. A lease price has not been disclosed but the space is offered for $550 (EUR 412) per ...
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PropertyEU Archive
Grupo CS is to invest EUR 8 bn in Portugal
Grupo CS intends to invest EUR 8 bn to develop 16 hotels in Portugal. The assets, five of them already under construction, are due for completion in 2009. The group envisages beginning the second phase of Herdade dos Salgados tourist project and launching the Barragem de Montargil development in Algarve, ...
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PropertyEU Archive
Immoeast acquires Warsaw offices for EUR 80 mln
Immoeast has acquired 'Brama Zachodnia', a 14-floor office building in Warsaw, for a total investment of EUR 80 mln. The property, completed in 2001, has an underground garage and usable area of 36,000 m[sup]2[/sup]. Swedish telecommunications giant Ericsson rents about 25% of the space. Other tenants include Gtech, Sagem Communication, ...
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PropertyEU Archive
Gruppo Aedes signs deal on EUR 90 mln loan
Gruppo Aedes, the Italian real estate company, has signed an agreement on a medium-term loan with a syndicate of banks for EUR 90 mln. Aedes' statement on the loan did not specify what the funds will be used for it. The company said the deal was organised by Banca Profilo ...
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PropertyEU Archive
LaSalle IM acquires portfolio of German stores
LaSalle Investment Management has acquired a portfolio of seven specialist stores in the Siegerland region of Germany from several private investor. The investment volume was close to EUR 45 mln. The properties will be placed in the LaSalle German Retail Venture Fund. All stores have long-term lease contracts and are ...
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PropertyEU Archive
Brussels fighting the clock in RE deal
The Belgian government is under pressure to sell EUR 600 mln of property assets in the next few weeks after an earlier attempt to set up a new closed-ended real estate investment company (Sicafi) stalled due to legal challenges.
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PropertyEU Archive
Dubai firm to develop new city near Moscow
Developer Limitless, a subsidiary of holding company Dubai World, plans to build a new city on 18,000 hectares of land near Moscow in what the company has described as 'one of the largest projects planned by an international developer anywhere in the world today'.
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PropertyEU Archive
Swiss Re in 'exclusive' talks over London's Gherkin
Reinsurer Swiss Re has confirmed media speculation it is in 'exclusive talks' with a potential buyer for its City of London skyscraper known as the 'Erotic Gherkin' but it stopped short of naming the interested party. 'We expect negotiations to close by early 2007,' Swiss Re said.
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PropertyEU Archive
Italy unveils 'REITs' legislation
Italy is moving forward with legislation to introduce real estate investment trusts (REITs). An amendment of the Finanziaria, the State annual financial budget, contains the first official draft of the legislation, Italian media sources have reported. The draft will be presented for discussion in the Senate by Italian deputy Economics ...
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PropertyEU Archive
Sonae Sierra, Miller to launch retail park in Portugal
Sonae Sierra and Miller Developments are to develop a retail park in Viana do Castelo, northern Portugal. The two companies, an international shopping centre specialist and a UK commercial property developer respectively, are to invest EUR 13 mln in the Lima shopping mall, scheduled for inauguration next spring.
