All Real Assets articles in Web Issue – Page 190
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PropertyEU Archive
UNITE Group sells EUR338m of assets to USAF, Morley property fund
UK student housing company UNITE Group said it has completed the planned sale of some £242 mln (EUR 338 mln) of assets following the redemption of UNITE Finance One bonds announced in October. The bulk of the assets, worth £220.3 mln, were sold to the UNITE UK Student Accomodation ...
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PropertyEU Archive
Summit Germany to buy 4 German properties for EUR 34m
Commercial property investment company Summit Germany said its board has approved the acquisition of four properties in Germany for a total of EUR 34 mln. The tenants of the properties include Deutsche Telekom, Kamps Bakeries, a major public company and a large insurance company. Summit said the four assets will ...
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PropertyEU Archive
Cash position of Aviva property fund drops by 50%
British insurer Aviva is to announce a near halving in the cash position of its £3.2 bn (EUR 4.4 bn) property fund as investors continue to call for redemptions, newspaper the Telegraph reported on Friday. Aviva's property fund management arm Morley is to announce that it now has just 7.5% ...
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PropertyEU Archive
BNL Fondi purchases EUR 61m assets from Metro
Italy's Bnl Fondi Immobiliari, acting on behalf of its Dinamico real estate fund, has acquired five buildings in Northern Italy from the German supermarket chain Metro for a total of EUR 61.5 mln. The commercial properties are all leased to Mediaword and are located in Milan, Cinisello Balsamo, Parma, Brescia ...
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PropertyEU Archive
Skanska invests EUR 82m to develop trio of assets
Swedish construction and property group Skanska said it is investing about SEK 770 mln (EUR 82 mln) to develop a logistics facility in Gothenburg, Sweden and an office and media centre in Stockholm. Skanska said it is investing SEK 520 mln for an 18,000-m[sup]2[/sup] office and media house to be ...
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PropertyEU Archive
Land Securities announces first closing of Trillium PPP joint venture
UK property firm Land Securities has announced the first closing of Trillium PPP Investment Partners, the joint venture established to enable third-party investors to gain exposure to Trillium's Public Private Partnership contracts.
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PropertyEU Archive
UK property capital values tumble in November
Capital values in the UK property market fell by 4.1% in November, the fourth consecutive monthly decline, according to a report published by CB Richard Ellis. Values have dropped 8.6% from the peak in July and are 5.7% lower than at the beginning of the year.
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PropertyEU Archive
Capital & Regional cuts UK property fund values
Capital & Regional has become the latest real estate asset manager to be affected by the slowdown in UK commercial property. The company said on Friday that the value of units in its £3 bn shopping centre fund - the Mall Fund - fell by 12% in November, while the ...
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PropertyEU Archive
Testa sells two shopping centres in Spain
Spanish property company Testa Inmuebles en Renta has agreed to sell the Fresnos de Gijon shopping centre in Spain's Asturia region and the Lakua de Vitoria mall, also in northern Spain, for a total of EUR 65 mln.
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PropertyEU Archive
Colonial confirms preliminary merger talks with Gecina
Spanish property company Inmobiliaria Colonial has confirmed media reports it is in merger talks with French property group Gecina, which is working through a divorce from another major Spanish property company Metrovacesa.
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PropertyEU Archive
IPD UK monthly index hits record low
Total returns on the IPD UK Monthly Index fell by a massive 3.6% in November - the fourth consecutive monthly fall. This was also the worst monthly total return on record, beating the -1.8% recorded in May 1990 by some distance. The year-to-date return now stands at -1.8%, indicating a ...
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PropertyEU Archive
Balfour Beatty reaches close for £163m Knowsley PPP development
UK construction and services group Balfour Beatty said on Monday that that its specialist education Private Public Partnership (PPP) company, Transform Schools, has reached financial close for the £163 mln (EUR 228 mln) Knowsley Private Public Partnership (PPP) concession to construct seven new learning centres under the Building Schools for ...
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PropertyEU Archive
GE, Pirelli, Calyon buy EUR 2.6 bn NPL portfolio
GE Real Estate has teamed up with Pirelli RE and Calyon to acquire a EUR 2.6 bn portfolio of non-performing loans (NPL) originated by Banca Antonveneta and its subsidiary Interbanca. GE is buying a 50% stake in the portfolio, while Pirelli RE is taking a 16.5% interest through its joint ...
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PropertyEU Archive
Unite sells UK assets to USAF fund, Morley for £241.7m
Unite Group, a provider of student accommodation in the UK, has completed the sale of assets worth £220.3 mln (EUR 334 mln) to the Unite UK Student Accommodation Fund (USAF) which it established in 2006. The company said it also sold leased assets worth £21.4 mln to UK peer ...
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PropertyEU Archive
Cordea Savills fund achieves final closing
Property fund manager Cordea Savills announced the final closing on Monday of its Italian Opportunities II fund. The fund, which targets net returns of 20% per annum, raised over EUR 360 mln of equity from institutional investors in two closings.
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PropertyEU Archive
SEB acquires Potsdamer Platz portfolio
SEB Asset Management has acquired the Quartier Potsdamer Platz portfolio in Central Berlin from German car maker Daimler. The portfolio comprises 19 properties with a total space of about 285,000 m[sup]2[/sup]. Office and administrative space account for 42% of the lettable area, while 22% is for retail use. The remaining ...
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PropertyEU Archive
Spanish region signs draft agreement for 'European Las Vegas'
Europe's largest casino complex is to be developed in Spain's semi-arid Los Monegros desert in an attempt to emulate the entertainment and gambling industry in Las Vegas. The regional government of the Spanish province of Aragon signed a draft agreement last week with an international consortium of developers to build ...
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PropertyEU Archive
Alstria Office buys German office portfolio
Hamburg-based Alstria Office REIT is buying a portfolio of five office properties in Germany from insurance group Huk-Coburg and its subsidiaries. The transaction volume is EUR 53 mln, or EUR 1,791 per m[sup]2[/sup]. The properties will be leased back to the German insurer for an annual lease of EUR 3.3 ...
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PropertyEU Archive
Warburg Henderson picks up assets in France
Henderson Global Investors has acquired seven commercial assets in France from Societe de la Tour Eiffel for a total of EUR 36 mln. The transaction reflects a net initial yield of 7%. The portfolio of mixed properties are earmarked for the fund Warburg - Henderson Multinational Plus.
