All Real Assets articles in Web Issue – Page 199
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PropertyEU Archive
Merrill, UBS face further subprime fallout
Merrill Lynch is expected to suffer $15 bn (EUR 10.1 bn) in losses stemming from soured mortgage investments, almost twice the company's original estimate, the New York Times reported Friday. The losses are prompting the company to raise around $4 bn in coming days from an outside investor, the newspaper ...
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PropertyEU Archive
Hansteen closes 2007 with EUR 29m purchases on Continent
AIM-listed European real estate investor Hansteen said that it has completed six acquisitions for a total of EUR 29 mln in Continental Europe. The properties currently generate annual rental income of EUR 2.44 mln with a potential rent roll upon the letting of vacant buildings of over EUR 3 mln.
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PropertyEU Archive
Positive Q4 figures could derail VastNed Retail takeover plans
Dutch-listed property fund VastNed Retail has announced an increase of over 6% in the value of its investment property portfolio over the final quarter of 2007. As a result, the company has said it expects a fourth quarter indirect investment result of around EUR 4.80 per share. The figures are ...
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PropertyEU Archive
Protego acquires York industrial estate for EUR 45m
Protego Real Estate Investors has announced the acquisition of the Clifton Moor Industrial Estate in York in the UK Midlands for GBP 33 mln (approx. EUR 45 mln.) on behalf of a retained client. The initial yield is over 6.5% with a 7.3% equivalent yield. Sold by British Land, the ...
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PropertyEU Archive
Skanska to build new residential area in Oslo for EUR 46.5m
Swedish construction company Skanska has received its first contract from Norwegian residential development company Fornebu Boligspar for the expansion of the new Fornebu residential area in Oslo. The project comprises a total of 26,000 m[sup]2[/sup] and the contract for NOK 365 mln (EUR 46.5 mln) is included in order bookings ...
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PropertyEU Archive
Zublin buys office complex in Lyon for EUR 53m
French-listed SIIC Zublin Immobiliere France has acquired an office complex in Lyon for EUR 53 mln. The property provides some 15,500 m[sup]2[/sup] of space with 420 parking places and has an initial net rental yield of 6%.
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PropertyEU Archive
Investment in German commercial property nears EUR 60 bn
Just under EUR 60 bn was invested in German commercial real estate last year, 20% up on 2006. The transaction volume in the six most important German office locations - Berlin, Cologne, Düsseldorf, Frankfurt, Hamburg, and Munich - posted an even sharper year-on-year rise of 44% in to finish at ...
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PropertyEU Archive
Priam acquires properties in Germany for ISE
Acting on behalf of its Luxembourg-based client Industrial Securities Europe (ISE), Berlin-based Priam Asset Management has made three German logistics acquisitions. The company has spent some EUR 30 mln on plots in Neunkirchen, Melle and Burglengfeld. The total area of the parcels is 105,000 m[sup]2[/sup].
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PropertyEU Archive
ING Real Estate acquires French developer Geo-de
ING Real Estate has announced the acquisition of French property developer Geo-de for an undisclosed amount. The addition of the residential, office and retail developer active in the Lyon region will give ING Real Estate a larger presence in what it considers a key region in the French market. The ...
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PropertyEU Archive
BBEIF acquires strategic stake in Forth Ports
UK-managed Babcock & Brown European Infrastructure Fund (BBEIF) has acquired further shares in Forth Ports, bringing its current shareholding to 20.4%. The investment is BBEIF’s second in Forth.
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PropertyEU Archive
Union Investment expands in Central and South America
Hamburg-based Union Investment Real Estate has continued its strategy of expanding in 'up-and-coming overseas property markets' with the acquisition of two properties in Central and South America for a total of EUR 73 mln.
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PropertyEU Archive
Jaguar pounces on prime office space in London
Irish private wealth manager Jaguar Capital has purchased the London headquarters of legal firm SJ Berwin at 10 Queen Street Place from a Norwich Union fund. The financial details were not disclosed but CB Richard Ellis said the original guide price was £180 mln (EUR 236 mln). A report in ...
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PropertyEU Archive
IVG has warchest of over EUR 1.3 bn
German property giant IVG has readily available liquidity and unused credit lines of over EUR 1.3 bn, company directors Wolfhard Leichnitz and Bernd Kottmann informed shareholders in a letter last week, according to trade journal Immobilien Zeitung. The two executives are also counting on proceeds of over EUR 1 bn ...
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PropertyEU Archive
European private equity RE funds raise EUR 13.8 bn in 2007
European private equity real estate funds raised a total of $20.6 bn (EUR 13.8 bn ) in 2007, according to the latest figures from Preqin Real Estate Online.
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PropertyEU Archive
Central London investment hits record EUR 25 bn in 2007 - C&W
Property adviser Cushman & Wakefield said on Tuesday that the Central London property market saw a record GBP 18.7 bn (EUR 24.7 bn) in investment in 2007, well up on the £14.5 bn registered the previous year. This was a despite a sharp drop in investment in the fourth quarter, ...
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PropertyEU Archive
Credit crunch to last 6 months, say 64% of UK lending institutions
No less than 64% of the UK's top lending institutions are predicting that the current credit crunch will last for six months, with over 35% saying it will last for at least a year, according to a survey by UK consultancy firm GVA Grimley. The Bank Lending Survey, carried out ...
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PropertyEU Archive
Reech AiM's Iceberg fund outperforms Epra UK index by 61%
Derivatives specialist fund manager Reech AiM said on Tuesday that its maiden European property hedge fund, the Iceberg Alternative Real Estate fund, booked a return of 2.87% in December 2007. The company said this took the fund's total return, net of fees and expenses, to 24.51% since its inception in ...
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PropertyEU Archive
Skanska signs up Deloitte for Warsaw Atrium project
Swedish construction firm and developer Skanska said its Polish unit had signed up consultancy firm Deloitte as the anchor tenant for its Warsaw office project Atrium City. Deloitte will move into the new building, to be called Deloitte House, in May 2009.
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PropertyEU Archive
GE RE buys office building in Wroclaw, Poland
GE Real Estate Central & Eastern Europe said on Tuesday it had acquired a 16,263 m[sup]2[/sup] office building in Wroclaw, Poland, from Archicom Projekt 7. The deal is GE RE’s first acquisition in one of Poland’s regional cities. The firm said the transaction was 100% equity financed.
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PropertyEU Archive
Colliers opens new office in Split, Croatia
UK property consultant Colliers International said on Tuesday it had opened a new office in Split, its third in Croatia after Zagreb and Dubrovnik.
