All Real Assets articles in Web Issue – Page 197
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PropertyEU Archive
Union Investment completes first deal in Kuala Lumpur
Hamburg-based investment company Union Investment has signed a contract to acquire the CapSquare office tower in Kuala Lumpur for its open-ended real estate fund UniImmo: Europa. The purchase prices amounts to around EUR 100 mln. This is the company's first investment in Malaysia.
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PropertyEU Archive
Derwent London secures first letting at Qube
Derwent London has secured its first lettings at Qube, its recently completed office and retail development at 90 Whitfield Street, London W1. Advertising company, Aegis Media, a subsidiary of the Aegis group, has leased the second floor of 1,750 m[sup]2[/sup] for a 15-year term, with five yearly rent reviews, at ...
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PropertyEU Archive
NVB: Dutch office market is 'very unhealthy'
The Dutch Association for developers and construction companies NVB has described the Netherlands' office market as 'very unhealthy'. According to NVB's new annual report issued on Monday, a high percentage of office space in the country is vacant at present, and the organisation expects the situation to worsen in the ...
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PropertyEU Archive
Strategic Value Partners extends German portfolio
Fund manager Strategic Value Partners has added nine additional properties to its real estate portfolio in Germany. The properties, which provide a total lettable area of approximately 100,000 m[sup]2[/sup] and consist primarily of office and retail properties in Munich, Düsseldorf, Cologne and Frankfurt am Main, were managed by HVB Immobilien ...
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PropertyEU Archive
European investment drops 13% in 2007 - JLL
In the wake of the global credit crisis, investment in European commercial real estate dropped 13% last year, according to Jones Lang LaSalle. The property advisor's latest report estimated the final total for 2007 would be about EUR 220 bn as the slump generated by the turmoil in the financial ...
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PropertyEU Archive
Unibail-Rodamco to pay interim dividend on 15 January 2008
French-Dutch property company, Unibail-Rodamco announced that an interim dividend of EUR 1.70 per share will be made payable on 15 January 2008, as part of the company's quarterly distribution policy. The company previously distributed a quarterly dividend of EUR 1.70 per share in October 2007.
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PropertyEU Archive
Unite says UK Student Accommodation Fund NAV up 8% over 2007
UK student accommodation provider, the Unite Group, has said that the estimated net asset value of its UK Student Accommodation Fund rose to £1.020 ( EUR 1.36) at 31 December 2007. Compared to the value at 31 December 2006 of £0.945 (EUR 1.26) per unit, this represents an increase of ...
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PropertyEU Archive
Italy's Sorgente Group in EUR 250m spending spree
Italy's Sorgente Group has acquired a retail portfolio and two office buildings across Italy for a total purchase price of EUR 250 mln. In a statement, Sorgente said the deals, which were sealed in the last days of 2007, reflect a net initial yield of around 6%.
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PropertyEU Archive
Castellum invests EUR 42m in Sweden
Swedish property company Castellum announced on Wednesday that it will carry out new construction projects worth SEK 247 mln (EUR 26 mln) and it is investing SEK 152 mln (EUR 16 mln) in the acquisition of four commercial properties in Sweden.
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PropertyEU Archive
Lualca buys 5% of Realia for EUR 88m
Private property company Lualca has spent over EUR 88 mln to buy a 5% stake in Spanish real estate firm Realia. Lualca bought 13.9 million shares in Realia, which is controlled by savings bank Caja Madrid and construction company Fomentos de Construcciones y Contratas (FCC).
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PropertyEU Archive
Emmelunga sells five assets for EUR 50m
Italy's furniture store chain Emmelunga has sold five of its stores in a sale-and-lease back deal with Mercurio Retail Properties for around EUR 50 mln. The stores, which are located in Italy's Tuscany and Lazio regions, represent the first acquisition made by Mercurio Retail Properties, a fund managed by CB ...
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PropertyEU Archive
Skanska to develop EUR 69m detention facility near Stockholm
Swedish construction giant Skanska is to build a 23,600 m[sup]2[/sup] detention facility in Sollentuna, north of Stockholm The project will include planning, construction, operation and maintenance of the new detention facility. The construction project is valued at an estimated SEK 650 mln (EUR 69 mln) and will be included in ...
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PropertyEU Archive
AMB adds Tilburg logistics facility to its European portfolio
Global industrial real estate company AMB Property Corporation announced that it has purchased a strategic logistics hub in the Netherlands for an undisclosed amount. The fully leased 52,000 m[sup]2[/sup] facility in Tilburg is centrally located for the Dutch market as well as the rest of Europe.
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PropertyEU Archive
Astroc to change name to Afirma
Astroc's main shareholders will propose to change the name of the troubled Spanish company to Afirma in an attempt to re-brand the group and relaunch it in the current year. The proposal will be presented at a shareholders´ meeting to be hold on February 7. The move follows the collapse ...
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PropertyEU Archive
Cibitas wins approval for largest regeneration scheme in UK
Specialist regeneration developer Cibitas Investments has received the green light for a £1 bn (EUR 1.3 bn) urban quarter close to Manchester city centre. As well as being the largest regeneration project in the UK, the 38 hectare, Holt Town Waterfront development is the largest planning application ever to be ...
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PropertyEU Archive
Proactiva buys Cacaolat plant in Barcelona
Spain's fund manager Proactiva Asset Management is investing EUR 160 mln in the acquisition and transformation of the Cacaolat site in Barcelona's city centre. The company, through its new special vehicle Proactiva BCN-La Marina, has bought the plant for an undisclosed amount and plans to convert it into a residential ...
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PropertyEU Archive
Citycon launches sustainable retail projects
Finnish shopping centre developer Citycon announced on Wednesday that it has launched three pilot projects in sustainable construction. In a statement, the company said the move is aimed at evaluating 'the implementation of development projects comprehensively from the viewpoint of sustainable operations, and to systematise pro-environmental practices'. The projects are ...
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PropertyEU Archive
Deka Immobilien shops in Finland
Germany's Deka Immobilien has entered the Finnish property market with the acquisition of two retail assets in southwestern Finland for a total of EUR 30 mln. The assets, located in Turku, are earmarked for Deka's WestInvest ImmoValue fund, and were purchased from Finnish project developer Virtanen Yhtioet Oy. The two ...
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PropertyEU Archive
Miller Group issues profit warning in trading update
UK property and construction company Miller Group warned that 'a challenging second half' would impact on full year profits for 2007 which are expected to be 'slightly behind last year'. The company issued a trading update ahead of its final results for the year to December 2007, which will be ...
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PropertyEU Archive
GPT Halverton buys 6,000 m[sup]2[/sup] Amsterdam property
GPT Halverton, the European arm of Australian property firm GPT Group, has acquired a 6,000 m[sup]2[/sup] multilet building in Amsterdam from Dutch firm Vondel Vastgoed Holding. Financial details were not disclosed. Vondel Vastgoed Holding bought the property from Bodin Beleggingen in 2007 for EUR 4.5 mln.
