All Real Assets articles in Web Issue – Page 201
-
PropertyEU Archive
Orco acquires plots in Warsaw
Central European property group Orco has annouced the acquisition of two new plots covering some 28 ha in Warsaw, Poland. The company plans to invest some EUR 60 mln on the development of a new logistic centre on one of the sites, with the other one due to house the ...
-
PropertyEU Archive
JLL snaps up German peer Brune
Property consulstancy Jones Lang LaSalle said it had acquired German peer Brune Consulting Management. No financial details were disclosed. Dusseldorf-based Brune is a retail management specialist with 30 employees and around 250,000 m[sup]2[/sup] of retail space under management, including nine shopping centres.
-
PropertyEU Archive
TNT picks OVG, Triodos for 'green buildings' initiative
Dutch mail company TNT said on Thursday that it had selected Dutch 'ethical' bank Triodos Group and developer OVG to implement the firms' green buildings initiative. TNTsaid its new head office in the Dutch town of Hoofddorp will be the first of several green offices to be built across the ...
-
PropertyEU Archive
Union Investments' Luxembourg projects open for business
Hamburg-based Union Investment said its L'Unico and Pixel project developments in Luxembourg were completed on schedule at the end of 2007 after a 15-month construction period. The company said the two mixed-use projects, acquired in 2006 for its open-ended real estate fund UniImmo: Europa, are now operational.
-
PropertyEU Archive
Sjaeso says SG Nord will not sell shares in buyback
Danish property developer Sjaelso Gruppen said its biggest shareholder, SG Nord, has declined to sell any of its 30% stake in the firm in connection with Sjaelso's planned EUR 27 mln share buyback. Sjaelso announced the buyback on 16 January.
-
PropertyEU Archive
IPD reports record fall in property capital values
Total returns on the IPD UK Monthly Index fell by 3.7% month on month in December 2007, while capital values fell 4.2% month on month, according to figures released by IPD. The property database said that 'the figures represent a continuation of the steepening falls seen over the past few ...
-
PropertyEU Archive
Spain's real estate services firms close half of their offices in 2007
Spanish real estate services companies closed about half of their offices in 2007, according to data issued by Agentes de la Propriedad Inmobiliaria (API), a network of real estate agents across Spain. API estimated that around 40,000 offices closed over the last 12 months, which compares to a total of ...
-
PropertyEU Archive
Metro sells 245 Extra supermarkets
Metro is selling its Extra business consisting of 245 Extra supermarkets to German cooperative Rewe for an undisclosed amount. The German retailer said that the move is aimed at cutting debt as well as focusing on the food business of its Real stores which are expanding into eastern Europe and ...
-
PropertyEU Archive
Resolution tipped to launch £3 bn fund
Privately-owned investor Resolution Property is reportedly to launch a £3 bn fund which will capitalise on the adverse credit market conditions. According to newspaper the Financial Times, the company, which is backed by US universities Yale and Harvard and is run by businessman Robert Laurence, has raised some £600 mln ...
-
PropertyEU Archive
CapMan sets up EUR 835m hotel fund, buys 39-hotel portfolio
Scandinavian fund manager CapMan has launched a new private equity real estate fund, CapMan Hotels RE Ky. The fund signed on Friday an agreement on the acquisition of a hotel portfolio consisting of 39 properties from Northern European Properties (NEPR). The transaction volume was EUR 805 mln.
-
PropertyEU Archive
Hines seals £410m financing package for Cannon Street office project in London
The UK arm of international real estate company Hines said it has sealed a total £410 mln (EUR 550 mln) financing package for its Cannon Street office redevelopment project in London. Specifically, it has agreed upon a £ 300 mln debt package with HSH Nordbank, as well as ...
-
PropertyEU Archive
National Grid drops £700m portfolio sale
National Grid said on Friday that it has decided to cancel the £700 mln sale of its UK property portfolio because it did not receive high enough bids. The UK power network operator said the bids received for its property business, National Grid Property, did not match the value it ...
-
PropertyEU Archive
Aegon's Scottish Equitable halts withdrawals from commercial property fund for up to a year
Scottish Equitable, which runs one of the UK's biggest commercial property funds, has put a halt to withdrawals from investors as a growing number of small investors have sought to flee the sector.
-
PropertyEU Archive
Segro developing major business and logistics centre at new Berlin airport
UK listed property company Segro said it has signed a major partnership agreement with the Berlin Airport Authorities to develop a maximum 230,000 m[sup]2[/sup] business and logistics park on a 38 hectare site in the immediate vicinity of the new Berlin Brandenburg International (BBI) Airport terminal currently under construction.
-
PropertyEU Archive
New Star Asset Management issues profit warning, cuts dividend
UK fund manager New Star Asset Management, which manages the New Star UK Property Unit Trust, cut its final 2007 dividend to 5 pence from a previous 9 pence per share, as it pointed to the uncertain market situation and its desire to maintain its financial position.
-
PropertyEU Archive
Sparkassen Immobilien shops in Croatia and Austria
Listed property company Sparkassen Immobilien said it has bought a residential asset and two mixed-use buildings in Vienna's city centre, together with an office block in Zagreb, for a total of some EUR 60 mln.
-
PropertyEU Archive
Italy's Monte dei Paschi fund buys office building in Rome
Italian fund Monte dei Paschi Hines Real Estate Crescita (MHREC) has acquired an office building in the EUR district of Rome from fellow Italian property fund Tikal Re Fund, for an undisclosed sum. The building is located at Piazzale Don Luigi Sturzo 23/31 and covers a gross area of 18,800 ...
-
PropertyEU Archive
Schroder fund buys into Rome's logistics property
Schroder Property Investment Management Italy (SPRIM) said it has bought the Santa Palomba logistics property development located in Pomezia, south of Rome, from Matrix, a fund managed by Valore Reale for some EUR 25 mln. The transaction reflects a net initial yield of 7.60%. The building, providing some 28,000 m[sup]2[/sup] ...
-
PropertyEU Archive
UK pooled property funds deliver worst ever quarterly performance
UK pooled property funds turned in their worst ever performance in the last quarter of 2007, with the IPD UK Pooled Property Fund Indices delivering a 9.1% total return in the period, the worst result recorded since it began in 1990.
-
PropertyEU Archive
Halabi set to sell stake in the Shard
UK property tycoon Simon Halabi is reportedly set to sell his one-third stake in the troubled Shard of Glass skyscraper project. The Syrian-born investor is understood to have received a £30 mln cash offer from some Qatari investment funds for his interest in the site over London Bridge station. Here ...
