All Real Assets articles in Web Issue – Page 202
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PropertyEU Archive
Bouygues Construction wins EUR 300 mln Paris tower contract
Bouygues Batiment Ile-de-France has won a contract worth over EUR 300 mln to renovate the CB31 tower in Paris' La Defense business district. The contract was awarded by a syndicate of French insurance group Axa, Boston-based real estate investment firm Beacon Capital and French developer Cogedim.
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PropertyEU Archive
Resolution's third fund raising nets EUR 800 mln equity commitments
Resolution has announced the closing of its third capital raising (Resolution Real Estate Fund III L.P.) which has resulted in EUR 800 mln of new equity from leading European and US private equity investors. The new fund's first acquisition was the purchase of the prime three acre leisure complex, The ...
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PropertyEU Archive
ACC's new fund invests in Amsterdam offices
Rabobank's Dublin-based ACC Bank Wealth Management unit is launching a new international property fund to its national client base. The fund is buying three prestigious and historic office properties in central Amsterdam from a consortium of international investors for EUR 38 mln.
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PropertyEU Archive
Eurobank Properties REIC acquires two Maroussi retail assets
Greece's Eurobank Properties Real Estate Investment Company (Eurobank REIC) has expanded its investment portfolio with the acquisition of two retail properties located in Kifisias Avenue. The entry yield of the investment is calculated at 6%.
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PropertyEU Archive
Deka buys Andersia tower in Poznan
Deka Immobilien has acquired the 19-storey Andersia tower, a flagship mixed-use development in the Polish city of Poznan from Von der Heyden Development, the service consultancy arm of the German Von der Heyden Group (VDHG). The financial details were not disclosed.
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PropertyEU Archive
PIK, GIC team to develop urban area in Moscow region
GIC Real Estate, the property investment arm of the Government of Singapore Investment Corporation, has entered a partnership agreement with London-listed developer PIK Group to develop a large urban area in the city of Mytischi, located northeast of Moscow. The agreement stipulates that GIC Real Estate will pay approximately ...
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PropertyEU Archive
GE hints at bid for Spain's Colonial
GE Real Estate Iberia, a subsidiary of US conglomerate General Electric, confirmed on Monday that it is 'studying a possible operation' involving troubled Spanish property group Inmobiliaria Colonial. However, the company added that no decision has yet been made, noting that this will depend on receiving the relevant financial, legal ...
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PropertyEU Archive
Non-listed funds in vogue despite credit crunch
Investors will increase their allocation to non-listed real estate funds this year in spite of the turmoil in credit markets, according to the latest INREV Investment Intentions report.
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PropertyEU Archive
Delancey increases presence in regeneration sector
London-based specialist investment advisor Delancey has acquired Miller Developments' 50% interest in UK urban regeneration and mixed-use property developer Centros Miller. Miller and Delancey have been joint venture partners in Centros Miller since 1999. Delancey will now rebrand the company as 'Centros'.
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PropertyEU Archive
Hochtief, Macquarie 'eyeing' Germany's DeTe Immobilien
Deutsche Telekom has hired investment bank Morgan Stanley to sell its property management unit DeTe Immobilien, newspaper Financial Times Deutschland (FTD) reported on Monday. According to the paper, the first round of bidding for Germany's leading property manager has already been completed, with German construction company Hochtief and Australian bank ...
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PropertyEU Archive
LaSalle, Morley fund snaps up EUR 138m properties in France and the Netherlands
LaSalle Investment Management and Morley Fund Management announced on Tuesday that their pan-European open-ended fund Encore+ has acquired two properties in France and the Netherlands.
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PropertyEU Archive
Gross mortgage lending hits record levels in 2007
According to the Council of Mortgage Lenders (CML) mortgage lending figures for 2007 were the highest ever, coming in at £ 362 bn (EUR 487 bn), up 5% from the 2006 figures of £ 345 bn (EUR 465 bn) and above CML's October 2007 forecast of £ 360 bn (EUR ...
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PropertyEU Archive
Plaza Centers receives EUR 381m from sale of Arena Plaza in Budapest
London and Warsaw-listed Plaza Centers has announced it has received gross cash proceeds of approximately EUR 381 mln from the sale of Arena Plaza to UK-based Active Asset Investment Management (AAIM). Arena Plaza's 66,000 m[sup]2[/sup] of lettable area makes it Hungary's largest shopping and entertainment centre. Fully let upon opening ...
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PropertyEU Archive
Trigon Invest sells Radisson hotel in Hamburg for EUR 40m
Berlin-based Trigon Invest has sold the Radisson SAS hotel in Hamburg to Azure Property. The transaction value comes to around EUR 40 mln. The hotel, the highest building in Germany when it opened its doors in 1973, offers some 560 hotel rooms. Azure Property intends to invest some EUR 40 ...
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PropertyEU Archive
GE Real Estate acquires mixed-use portfolio in Germany for EUR 67m
GE Real Estate Germany has announced the purchase of seven mixed-use assets from a private individual for EUR 67 mln. The portfolio of office, warehouse, residential and retail properties is located primarily in Frankfurt, as well as in Bremen and Hannover. Positive prospects for rent increases and increasing returns on ...
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PropertyEU Archive
SCPI Opera Rendement buys office project for EUR 67m
BNP Paribas REIM-managed property investment fund SCPI Opera Rendement has acquired Les Miroirs office property development in Courbevoie, in the French Hauts-de-Seine region, from unnamed sellers advised by AEW Europe. The transaction volume comes to about EUR 67 mln including costs.
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PropertyEU Archive
Qatari banks prop up Shard skyscraper project
Four Qatari banks have thrown their financial muscle behind the troubled Shard skyscraper development at London Bridge Station. Developer Sellar Property Group announced on Tuesday that Qatari Islamic Investment bank Qinvest is fronting the consortium. The other members are Barwa, Qatar National Bank and Qatari Islamic Bank. The four have ...
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PropertyEU Archive
Echo Investment set to build shopping centre in Koszalin
Warsaw-listed Echo Investment has acquired an area of over three hectares in the north-western Polish city of Koszalin in order to build a modern shopping-entertainment centre. The centre will contain approximately 35,000 m[sup]2[/sup] of lettable space and a car park for around 1,000 cars. Construction is scheduled to begin ...
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PropertyEU Archive
Skanska office index indicates need for more office space in CEE
About one third of companies located in Central Eastern Europe (CEE) will need more office space in the coming year, according to a survey carried out by Skanska in Poland, Hungary and the Czech Republic. The Swedish construction and development giant surveyed 600 companies with 50 employees and/or at least ...
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PropertyEU Archive
Tesco plans to make competitive push in High Street retail
In order to expand its non-food range retail giant Tesco is planning to bring a new multi-level store at large sites in town centres. The department-style stores would compete with High Street retailers such as Marks and Spencer, BHS and Debenhams and sell appliances, clothing, electrical goods, toys as well ...
