All Real Assets articles in Web Issue – Page 191
-
PropertyEU Archive
Llanera to sell large plot to Bancaja to ease debt problems
Valencia-based property company Llanera is to sell a large plot of land for EUR 55 mln to the Spanish savings bank Bancaja. The sale is part of a move by the 0Spanish property firm which filed for protection from creditors two months ago to cut its EUR 700 mln debt ...
-
PropertyEU Archive
Milligan teams up with Blackstone in retail JV
UK retail developer Milligan is joining forces with US private equity group Blackstone in a joint venture to invest up to £500 mln in shopping centres in the UK. The deal involves Blackstone providing the majority of the funds to the joint venture with Milligan co-investing.
-
PropertyEU Archive
Liverpool deal falters as proposed buyer 'disappears'
Gresham House, UK property investment company, has confirmed that it has lost contact with the proposed buyer of Speke Boulevard in Liverpool. The British investor announced in September that it had signed non-binding heads of terms with an unnamed party the for sale of the building. The purchase price was ...
-
PropertyEU Archive
Commerz Real buys in Singapore
Commerz Real is entering Singapore with the acquisition of the 78 Shenton Way estate for a total EUR 324 mln. The property, with a gross floor area of about 33,000 m2, consists of a 34-storey office building, called the North Tower, and the South Tower, a seven-storey project development. The ...
-
PropertyEU Archive
Tremon pulls plug on IPO plans
Spanish property firm Tremon has scrapped its planned initial public offering (IPO) because investors are not willing to pay the offer price. The company postponed the IPO on two previous occasions in the hope of achieving better conditions. But Tremon has now decided that the listing cannot go ahead in ...
-
PropertyEU Archive
Atisreal: 2007 is last record of French investment market
About EUR 23 bn was invested in France in the first nine months of 2007, compared to EUR 20 bn in the year-earlier period, property consultant Atisreal said in its latest research report published on Tuesday. Far from weakening, the investment market remained buoyant in Q3 with about EUR 8 ...
-
PropertyEU Archive
Morgan Stanley tops ranking of the top 500 deals of 2007
US investment bank Morgan Stanley was the biggest investor in the European property sector this year, according to the ranking of the top 500 European commercial real estate deals in 2007 published in the December edition of PropertyEU Magazine. Morgan Stanley initiated deals with a total investment volume of EUR ...
-
PropertyEU Archive
Hochtief sells German assets to SEB for EUR 50m
German contruction company Hochtief has sold two development projects to SEB Immobilien-Investment for about EUR 50 mln. The properties are earmarked for SEB's public fund ImmoInvest. They are the Galilei3 office development in Mannheim and the Z-UP property in Stuttgart. The final purchase price will depend on the letting conditions ...
-
PropertyEU Archive
VIB Vermogen acquires majority stake in BBI
German real estate company VIB Vermogen announced on Tuesday that it has boosted its stake in Burgerliches Brauhaus Immobilien (BBI) from 29% to 54,87%, making it BBI's majority shareholder. 'We were able to acquire the shares for a price considerably below the net asset value of EUR 14.68 per ...
-
PropertyEU Archive
Norwegian Property disposes of non-core asset in Bergen
Norwegian Property has reached agreement on the sale of the Kokstadveien 23 office property in Bergen, Norway's second-largest city, for about NOK 231 mln (EUR 29 mln). The buyer is Aberdeen Pan-Nordic Norway.
-
PropertyEU Archive
HSH RE, TAG set up asset management company
German bank HSH's real estate unit is teaming up with German property company TAG to form an asset management company focusing on German commercial property. The two groups, which signed the JV agreement on Monday, said that they will each hold a 50% stake in the new company, which will ...
-
PropertyEU Archive
Kenmore industrial fund shops in France and Belgium
Kenmore European Industrial fund is buying a portfolio of light industrial properties in France and Belgium for a total of around EUR 29 mln. The company acquired four assets in the Paris region and Lyon from French company Proudreed for EUR 10.3 mln, or a net initial yield of 8.7 ...
-
PropertyEU Archive
WDP launches major solar energy project in Belgium
Closed-end real estate company Warehouses De Pauw (WDP) is joining forces with Dutch company SolarAccess to launch a major solar energy project in Belgium. WDP said it has signed an agreement with SolarAccess for the delivery and installation of solar panels on WDP buildings as well as with electricity supplier ...
-
PropertyEU Archive
Metro sells Victoria Place mall to Ewart Properties
Metro Shopping Fund, a retail joint venture between Land Securities and Delancey, has sold the Victoria Place shopping centre in London to Irish property firm Ewart Properties for £ 92.5 mln (EUR 129 mln) .
-
PropertyEU Archive
Westbridge Hospitality sells Holiday Inn in Hamburg
US investment company Westbridge Hospitality Fund has sold the Holiday Inn hotel in Hamburg to Grand City Hotels and Resorts for an undiclosed amount. Developed in 1965 and renovated three years ago, the four-star hotel consists of 105 rooms. Grand City Hotels and Resorts is a private investment company which ...
-
PropertyEU Archive
Pirelli RE wins management of Turin properties
Pirelli Real Estate Opportunities has been awarded the management contract for 18 historical assets owned by the municipality of Turin in northern Italy. The hedge fund manager of Italy's leading real estate group has offered EUR 131 mln to become Turin's partner in the new Palazzo di Cittá fund to ...
-
PropertyEU Archive
Pierre et Vacances to invest EUR 137m in Center Parc in France
French hotel chain Pierre et Vacances plans to invest EUR 137 mln to develop its fifth Center Parc holiday village in France, financial newspaper Les Echos reported. The new village will be located in Roybon in the Isere region. It will be the company's 17th Center Parc altogether, and will ...
-
PropertyEU Archive
Alstria Office REIT hits investment target for 2007
Hamburg-based Alstria office REIT has signed an agreement to acquire an office building in Berlin for EUR 55 mln. Located in Berlin-Charlottenburg, the property has a total lettable area of 22,500 m[sup]2[/sup] and is fully let to Deutsche Rentenversicherung, Europe's largest state pension insurer, until mid-2012.
-
PropertyEU Archive
Fitch: 2008 European RMBS outlook uncertain
The outlook for European Residential Mortgage-Backed Securities (RMBS) is more uncertain than in previous years for all European countries following the credit crunch, Fitch Ratings said in its '2008 Global Structured Finance Outlook' report published on Wednesday.
-
PropertyEU Archive
Dawnay Day acquires two Hertie stores for EUR 22 mln
London-based finance and property group Dawnay, Day Treveria (DTR) has announced that it is to purchase two Hertie department stores in Germany for a combined sum of EUR 22 mln. DTR will acquire the two properties from Dawnay, Day Group which owns the Hertie chain. The company believes that there ...
