All Real Assets articles in Web Issue – Page 206
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PropertyEU Archive
Ablon purchases first plot of land in Warsaw
Hungarian property company Ablon has purchased a 5,290 m[sup]2[/sup] plot of land in the centre of Warsaw for an undisclosed sum. The company said it plans to build up to 13 floors of residential space at the site, occupying 17,000 m[sup]2[/sup] for a total development cost of EUR 40 mln. ...
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PropertyEU Archive
Orbis Accor sells Grand Hotel Lodz to private investor
Polish hotel chain Orbis has sold the Grand Hotel Lodz in the same-named Polish city to a private investor for EUR 20 mln. Dating from 1888, the landmark hotel is built in a neo-Renaissance style and has 160 rooms, three restaurants, a cafe and an amusement arcade.
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PropertyEU Archive
London, Stockholm, Dublin offer best growth prospects: Knight Frank
London's real estate market offers the best growth opportunities in Europe, followed by Stockholm and Dublin, according to property adviser Knight Frank's latest European city ranking.
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PropertyEU Archive
Development Securities and Blue form sustainability JV
UK-listed real estate and investment company Development Securities and Blue (Sustainable Living) have formed a 50-50 joint venture to pursue sustainable residential and mixed-use development opportunities in the UK. The partnership was brokered by Savills Corporate Finance.
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PropertyEU Archive
Demand fuels residential boom in Bratislava
The residential development market in Bratislava is currently experiencing a boom, according to a report on the real estate industry in the Slovak capital by Slovakian research company Symsite Research . Although the levels of development are not comparable with the pre-1989 peak, the report says that both the number ...
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PropertyEU Archive
Kenmore buys land and property in France
Kenmore Property Group announced on Wednesday that it has completed two acquisitions in France for a total of EUR 12 mln in behalf of its French Office Fund.
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PropertyEU Archive
WDP opens Dutch office, buys second site in Venlo
Belgian property company Warehouses De Pauw (WDP) announced on Wednesday that it is opening a Dutch office to oversee the planned expansion of its portfolio in the Netherlands to EUR 250 mln in the near term. The office will open on 1 February and be located in Waddinxveen near The ...
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PropertyEU Archive
Commerz Real FY 2007 pre-tax profit EUR 140m, up 40%
German property investor Commerz Real on Thursday reported pre-tax profit of EUR 140 mln for the full year 2007, a jump of more than 40% on comparable year-earlier figures. This figure includes a one-off gain of EUR 25.8 mln from the retransfer of valuation reserves.
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PropertyEU Archive
Bouygues Immobilier sells Eqwater office project to DekaBank for EUR 160m
French building group Bouygues Immobilier has sold the Eqwater office project in Paris to German investor DekaBank for some EUR 160 mln. The development, covering some 15,900 m[sup]2[/sup] of space, is located in the centre of the new Seine Ouest business district, which is being developed by Bouygues in Issy-les-Moulineaux ...
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PropertyEU Archive
C&W: global property investment set to fall 17% in 2008
Global investment in commercial real estate will fall 17% in 2008 to $770 bn (EUR 518 bn) after reaching a record $930 bn (EUR 665 bn) in 2007, according to property advisor Cushman & Wakefield. The projected slowdown comes after trading volumes eased by 12.5% between the first and second ...
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PropertyEU Archive
Colliers Croatia books record valuation, advisory figures in H2 2007
Property adviser Colliers International Croatia said on Thursday its property consultants conducted valuation on a total of 5 million m[sup]2[/sup] of property in the last six months of 2007. The firm’s investment and corporate advisory division also covered a total of 1 million m[sup]2[/sup] in advisory work in the same ...
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PropertyEU Archive
CBRE: 2007 another all-time investment high in France
A total of EUR 27 bn was invested in commercial real estate in France last year, a 17% increase on 2006's figure of EUR 23 bn, CB Richard Ellis said in a new 'Market View' research publication published on Thursday. The size of transactions rose significantly in 2007, with ...
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PropertyEU Archive
Orco issues lower NAV figures for end-2007
Orco's president Jean-Francois Ott said he estimates the company's net asset value per share to be around EUR 104 as of end-2007, down from EUR 115 at the end of the first half. 'The drop is the result of a decline in Orco Germany's share price from EUR 12,5 (in ...
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PropertyEU Archive
EMEA lifts C&W's global turnover by 21%
Global property agent Cushman & Wakefield saw turnover rise 21% to $1.8 bn (EUR 1.2 bn) in 2007 on the back of a strong performance by the EMEA (Europe, Middle East and Africa) operations, provisional figures released today show. Turnover at the firm's EMEA operations rose by 33% to GBP ...
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PropertyEU Archive
Vasakronan FY net advances to EUR 491m on value increases
Swedish property investor Vasakronan reported full-year 2007 net profit of SEK 4.65 bn (EUR 491.3 mln) on Thursday, up from SEK 3.41 bn (EUR 360.2 mln) a year earlier. The firm said the growth was due to unrealised increases in the value of its property portfolio, improved operating surplus and ...
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PropertyEU Archive
AM snaps up City Projects in Brussels
Dutch property developer AM said on Thursday it had acquired the Brussels-based operation of Dutch peer City Projects. AM said the takeover gives it access to the Belgian market. City Projects is owned by Dutch developer André Snippe, who will remain with the company as a director. Both companies declined ...
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PropertyEU Archive
Beni Stabili fund buys industrial asset in Southern Italy
Italy's Beni Stabili Gestioni has completed the acquisition of a logistics property in Rutigliano, near Bari in Southern Italy, for some EUR 22 mln. Located in the PIP Adelfia industrial area, the new property provides a gross surface area of some 25,000 m[sup]2[/sup] and is fully let. The transaction volume ...
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PropertyEU Archive
AXA halts withdrawals from two funds for six months
French fund manager AXA became the latest casualty of the slowdown in the commercial property market on Thursday after imposing a six-month freeze on investors looking to flee the sector. The group said it had decided to implement 'a temporary deferral' to fund switches out, surrenders from and transfers out ...
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PropertyEU Archive
Pirelli RE set to bid for UniCredit's Pioneer real estate funds
Italy's Pirelli Real Estate is one of four investors in the running to acquire the property funds owned by Unicredit's asset management unit Pioneer, Italian newspaper Milano Finanza reported on Thursday. The sale of the funds is expected to be concluded in the next few days, the paper added.
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PropertyEU Archive
IPD reports biggest ever quarterly fall in UK commercial property
The value of investments in UK commercial property fell 8.7% over the fourth quarter of 2007 compared with the year-earlier period, IPD said in a new UK Quarterly Property Index report issued on Thursday. Total returns on property investments in the country slumped to -7.6%, the biggest fall in the ...
