All Real Assets articles in Web Issue – Page 195
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PropertyEU Archive
Italian bank to sell non-strategic property unit
Italian bank Monte dei Paschi has announced it intends to sell its property unit, Valorizzazioni Immobiliari, and a city-centre building in Rome this year. The bank said that the move is in line with its strategy to dispose of its non-strategic property assets.Valorizzazioni Immobiliari was set up in 2005 explicitly ...
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PropertyEU Archive
XXI Century Investments to build first mall in Crimea
XXI Century Investments has been granted a permit to build a 45,000 m[sup]2[/sup] shopping centre in the Ukrainian port city of Sevastopol. The Kvadrat mall will be the first shopping centre developed by the company outside Ukraine's capital region.
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PropertyEU Archive
EstCapital buys Rome development
Italian fund manager EstCapital Sgr has announced two real estate transactions in Rome and Verona. The company said it bought a development site in Castel Romano near Rome from the Geo Ponente fund for EUR 20 mln. The company will develop a 24,500 m[sup]2[/sup] commercial and logistics property on ...
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PropertyEU Archive
NSI carries out first international deal
Dutch property investor Nieuwe Steen Investments (NSI) has moved outside its home market for the first time with the acquisition of a shopping centre in Switzerland. The company has reached agreement with a Swiss seller on the purchase of the Herti mall in Zug for CHF 35 mln (EUR 21 ...
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PropertyEU Archive
Tishman Speyer, Commerz Real to develop Frankfurt tower
Tishman Speyer and Commerz Real said on Thursday that they intend to build a 135-metre skyscraper on the Kaiserkarree site they bought in Frankfurt's banking district from Commerzbank. Construction is due to start this spring, with completion scheduled for early 2011.
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PropertyEU Archive
King Sturge sees UK capital values decline by 7% in Q1
UK property adviser King Sturge has warned that commercial capital values in the UK could fall a further 7% or more in 2008 before stabilising in the second quarter of the year. In its 'UK Property Predictions for 2008' report the real estate consultant said there is a 50% chance ...
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PropertyEU Archive
Fonciere LFPI purchases 13 warehouses for EUR 30m
French property company Fonciere LFPI has acquired a a portfolio of 13 refrigeration warehouses across France from logistics provider Ebrex France for EUR 30 mln. The portfolio represents all of Ebrex's warehouses in France, and covers more than 42,000 m[sup]2[/sup] of logistics space built on an area of 248,000 m[sup]2[/sup]. ...
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PropertyEU Archive
UK estate agent closes branches, lays off 315
British estate agent LSL Property Services announced on Thursday in a pre-close trading update that it has closed twelve of its branches since September. The company has also cut 315 full-time jobs due to the slowdown in the property market.
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PropertyEU Archive
Realia sells another 5% of its French SIIC
Spanish real estate company Realia is selling 5% of its French unit Sociedad SIIC to Garber Investments for EUR 35.7 mln. The stake is being sold at EUR 366 per share, compared to the EUR 300 per share Realia paid last year when it bought 87% of SIIC.
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PropertyEU Archive
Aberdeen fund acquires office property in Tampere
European fund manager Aberdeen has acquired a large office property in the Finnish city of Tampere on behalf of its Real Estate Fund Finland for an undisclosed amount. The acquisition follows the final closing of the fund in December last year. The office property was built in three phases between ...
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PropertyEU Archive
ING Real Estate to announce major Dutch office deal
ING Real Estate is buying the portfolio of KFN, one of the largest office property companies in the Netherlands, from Dutch pension fund ABP. The details of what ING Real Estate described as the largest real estate transaction ever in the Netherlands will be revealed by the Dutch real estate ...
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PropertyEU Archive
Banimmo to build new Mobistar HQ
Belgian property company Banimmo is to develop the new headquarters of the telecom operator Mobistar at Evere in the Brussels region. The future head office, which will be located at the 'Da Vinci' business park, will house the major part of the telecom operator's activities currently spread over several sites ...
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PropertyEU Archive
Kenmore, Revcap to develop Wiltshire business park
UK property group Kenmore is teaming up with investor Revcap and communication company Ark Continuity in the development of a business and technology park in Wilthire, south east England. The partners have submitted a planning application to the North Wiltshire district council for a 650,000 sq ft (60,000 m2) park ...
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PropertyEU Archive
Degi buys German department store
German fund manager Degi has acquired a department store in the German city of Dorsten from ipe Dorsten Recklinghauser Tor. The transaction volume comes to EUR 21 mln.
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PropertyEU Archive
Pramerica buys two office developments in Paris
Prudential Financial's real estate investment management arm Pramerica has bought two office developments in the Paris region from the Lazard Group for an undisclosed amount.
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PropertyEU Archive
ING fund buys prime Helsinki property
ING Real Estate has acquired the Merikortelli building in the centre of Helsinki for EUR 70.5 mln. The mixed-use property - offering both office and retail space - was acquired on behalf of the ING Real Estate Nordic Property Fund. The deal takes the fund's total assets under management to ...
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PropertyEU Archive
Investors remain confident in Dutch office market - DTZ
Local and foreign investors remain confident about the prospects for the Dutch real estate market even though the affects of the global credit crisis are far from over, according to a new market report published by property adviser DTZ Zadelhoff.
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PropertyEU Archive
Prologis to develop new distribution park in London
Global logistics firm Prologis said on Friday it plans to develop a new 2.1 million sq ft (186,000 m2) rail-served distribution park in southeast London. Park Howbury will be developed on a 158-acre site and will consist of an intermodal facility and four large-scale industrial warehouses.
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PropertyEU Archive
Sireo fund buys 40,000m[sup]2[/sup] logistics centre in Milan
German asset manager Sireo has acquired a logistics centre in Italy worth some EUR 31 mln from a private investor. The property, located in Paullo, near Milan, is fully leased to Number One Logistics, the logistics division of Italy's major food company Barilla. The logistics scheme was developed in 2003 ...
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PropertyEU Archive
ABP, ING RE agree EUR 1.6 bn Dutch office deal
Pension fund ABP has agreed to transfer its wholly owned non-listed office fund KFN worth some EUR 1.6 bn to ING Real Estate. The two Dutch companies said in a joint statement on Monday that the deal is 'the largest real estate transaction ever in the Netherlands'.
