All Real Assets articles in Web Issue – Page 194
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PropertyEU Archive
AREIM Fund 1 acquires 25,000 m[sup]2[/sup] in Stockholm suburb
AREIM Fund 1 purchased the Borgarfjord 3 and 5 properties from SEB Trygg Liv in late December. The properties are located on Torshamnsgatan in the Kista suburb north of Stockholm and contain a combined 25,000 square meters of office and commercial space. The tenant at Borgarfjord 5 is Sony Ericsson, ...
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PropertyEU Archive
Homburg acquires Baltic portfolio for EUR 185m
Homburg Invest has finalised the acquisition of the Baltic portfolio from SEB Group for EUR 185 mln. The transaction was concluded in late December after being announced in April last year. The portfolio consists of 54 properties located in Estonia, Latvia and Lithuania.
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PropertyEU Archive
FTSE EPRA/NAREIT index down 4.8% in December
The FTSE EPRA/NAREIT Global Real Estate Index fell again at the end of 2007, finishing at -4.8% in December. Global equity markets (-5.5%) also headed down, while the bond market was neutral for the month. All three real estate regions fell back in December. Asia-Pacific real estate fell 5.2%, Europe ...
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PropertyEU Archive
Brixton spends EUR 96m at Heathrow
Brixton plc, the UK-listed warehouse and industrial property investor, has made two investments in its core Heathrow market for a total of £71 mln (EUR 96 mln). In the largest of the two deals, Brixton acquired Heathrow Gateway, Feltham, from an unnamed vendor for EUR 86.5 mln.
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PropertyEU Archive
Jelmoli serves arbitration notice on Delek consortium
Jelmoli has begun legal proceedings against the Israeli-led consortium that pulled out of the EUR 2 bn deal to buy a portfolio of 88 properties from the Swiss department store group. AIM-listed Delek Global Real Estate (DGRE) confirmed on Wednesday that it received notification on 31 December of the commencement ...
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PropertyEU Archive
Colonial plays down talk of further asset sales
Troubled Spanish property giant Colonial said on Wednesday it had not taken any steps to sell its 15% stake in Spanish construction company FCC. The company's statement was issued in response to a report in newspaper Cinco Dias that cited unnamed sources close to Colonial's board as saying it might ...
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PropertyEU Archive
Banimmo lists in Paris
Belgian real estate company Banimmo listed on Euronext Paris at the end of December to enable it to opt for SIIC status, the French equivalent of a real estate investment trust (REIT). From its head office in Brussels, Banimmo is active in Belgium, France and Luxembourg both in the office, ...
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PropertyEU Archive
Grainger buys farm and residential estate in Staffordshire
Grainger, the UK's largest listed residential property owner, has exchanged contracts to purchase The Ranton Estate, an agricultural and residential complex in Staffordshire, from its trustees for almost EUR 47 mln. The estate produces an annual rent of just over EUR 1 mln.
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PropertyEU Archive
Skanska to expand Tallinn shopping centre
Swedish construction company Skanska has been awarded a EUR 33 mln contract to continue the expansion and renovation of the Rocca al Mare shopping centre in the Estonian capital Tallinn. The customer is Rocca al Mare Kaubanduskeskus, owned by Finnish real estate company Citycon.
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PropertyEU Archive
DIC sells four properties in Hamburg
Listed German real estate investor DIC Asset said it sold several co-investment properties in Hamburg at end-December to various investors for a total volume of EUR 31 mln. One office property from the value-added segment of DIC's portfolio was sold to an international institutional investor for over EUR 25 ...
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PropertyEU Archive
Wichford moves to LSE's main market
Wichford, the UK property investment company, has confirmed it transferred from AIM to the main market of the London Stock Exchange at the end of December.
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PropertyEU Archive
Sjaelso sells retail and residential projects
Danish real estate company Sjaelso Gruppen has announced the sale of two retail projects in Sweden, 75% of a residential project in Poland and 50% of a new residential investment company. Sjaelso said it expects profit before tax of DKK 700 mln (EUR 94 mln) for 2007 in light of ...
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PropertyEU Archive
RREEF acquires EUR 100m trophy asset in Milan
RREEF Real Estate has agreed to acquire a central Milan office block for EUR 100 mln from Patrimonio Uffici, a fund managed by the Pirelli Group. The 14,266 m2-property located in the central business district near the city's historic Duomo and the Sforzesco Castle consists of offices and seven retail ...
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PropertyEU Archive
Colonial sheds 20% in value as shares resume trading
The share price of troubled Spanish property company Colonial dropped more than 20% on Thursday after stock market regulator CNMV lifted a trading suspension. The sharp decline follows a 40% drop in value last week which prompted the resignation of chairman Luis Portillo.
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PropertyEU Archive
Sonae Sierra sells 50% of LoureShopping to Deka
Portuguese retail property specialist Sonae Sierra has completed the sale of 50% of the LoureShopping mall to Deka Immobilien Investment, a German real estate fund manager, for EUR 65 mln.
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PropertyEU Archive
SHB acquires shopping centre in Regensburg for EUR 58m
Munich-based property company SHB Group has acquired the Koewe shopping centre in the Southern Germany city of Regensburg from an unnamed seller for EUR 58 mln. The mall, developed in 1991 and refurbished in 2006, offers almost 29,000 m[sup]2[/sup] of retail space and 1,200 parking spaces.
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PropertyEU Archive
Deutsche Land buys retail portfolio for EUR 69m
Deutsche Land has acquired a portfolio of 16 retail properties in Germany for EUR 69 mln, reflecting a net initial yield of 6.4%. The London-listed property investment company said that the portfolio was acquired with financing in place which gives a return on equity of 8.4%. The properties are situated ...
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PropertyEU Archive
Icade buys Mr Bricolage's property unit for EUR 89m
Home improvement retailer Mr Bricolage said on Thursday that it has sold a 95% stake in its property division L'Immobiliere Mr Bricolage to Icade Foncière des Pimonts. The deal values the property assets at just under EUR 89 mln. The move comes follows the launch of a joint venture with ...
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PropertyEU Archive
Banco Popolare spins off property assets
Italy's Banco Popolare has transferred part of its property business, including EUR 320 mln of real estate properties, to its Immobiliare BPV real estate unit. The subsidiary is to change its name to Immobiliare BP. Auditing firm KPMG has valued the business at EUR 720 mln.
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PropertyEU Archive
Tecla sells three Italian assets
Tecla Fondo Uffici, a Milan-listed office fund managed by Pirelli Real Estate, has completed the sale of three property assets for a total volume of EUR 71 mln to an unnamed buyers.
