All Real Assets articles in Web Issue – Page 21
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PropertyEU Archive
New EU members to boost retail and development
Bulgaria and Romania head the list of European countries with the highest percentage of shopping centre space coming on the market, with both countries recording increases of more than 150%, according to a new report by international property advisor Cushman & Wakefield. Romania has 470,000 m[sup]2[/sup] of new schemes due ...
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PropertyEU Archive
Fabege to challenge tax ruling
Fabege is to appeal the decision by the Swedish tax agency to increase the tax assessment for the group to SEK 1.79 bn (EUR 199 mln) for the 2003 tax year. The ruling results in a total claim of EUR 66 mln.
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PropertyEU Archive
Speculative development 'shows confidence' in Hungary
The Hungarian industrial property market has shown signs of recovery in the third quarter after a low level of development activity in the first half of the year, according to a report by property advisor CB Richard Ellis.
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PropertyEU Archive
Multi Development enters the Slovakian market
Multi Development Czech Republic plans to develop a 16,000 m[sup]2[/sup] shopping and leisure centre in Slovakia in its first project in the country. The Netherlands-based company said on Thursday it has acquired a plot of land from the municipality of Presov in the east of Slovakia for the mall but ...
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PropertyEU Archive
UK professionals welcome easing of REIT rules
The British government has eased the entry rules for new companies seeking to become real estate investment trusts (REITS) when the enabling legislation comes into force next January. The concession by chancellor Gordon Brown is a response to bitter objections voiced by property professionals to the original framework. Stricter rules ...
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PropertyEU Archive
Echo Investment to develop 80,000 m[sup]2[/sup] shopping mall
Polish property company Echo Investment intends to develop a shopping and entertainment mall in the centre of the Polish town of Piotrkow Trybunalski, real estate newspaper Eurobuild has reported. The project covers a 80,000 m[sup]2[/sup] area with a 37,000 m[sup]2[/sup] gross lettable space. The centre will house 120 retail stores, ...
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PropertyEU Archive
ING Dutch flagship funds to convert to semi-open structure on January 1
ING Real Estate's closed-ended Dutch flagship funds are to convert to a semi open-ended structure with an infinite lifetime on January 1 next year. The Netherlands-based company said in a statement that the change concerns the ING Dutch Office Fund, ING Dutch Residential Fund and the ING Dutch Retail Fund. ...
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PropertyEU Archive
Banuelos earns EUR 40 mln for 1% of Astroc
Enrique Banuelos, ceo of Astroc, has earned EUR 40 mln from the sale of 1% of his shares in the property company, Astroc has informed the Spanish national commission on stock exchange CNMV.
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PropertyEU Archive
Tishman Speyer selling Manhattan tower for EUR 1.3 bn
Tishman Speyer, the American real estate giant, has agreed to sell a skyscraper in Manhattan for $1.8 bn (EUR 1.3 bn) to New Jersey-based Kushner Companies. This is one of the one of the highest prices ever paid for a single US office building.
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PropertyEU Archive
Quinlan Private buys Dublin telecoms HQ for EUR 190 mln
Private equity company Quinlan Private has purchased the Dublin headquarters of Irish telecoms group Eircom for more than EUR 190 mln in one of the largest sale and leaseback deals in the Irish capital this year. Eircom has agreed a 25-year lease at a annual rent of EUR 8 ...
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PropertyEU Archive
Tower Group acquires 35 properties in Germany
Danish listed real estate company Tower Group has concluded an agreement to acquire 34 properties in Wuppertal, a city in Germany’s North Rhine-Westphalia region. The properties, consisting of a total of 30,536 m2, has 463 residential and 23 business tenancies.
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PropertyEU Archive
Kungsleden sells 8 Brussels properties for EUR 90.5 mln
Kungsleden, the listed Swedish property company, has agreed the sale of eight properties in Brussels to a joint venture between JER Partners Catalyst Capital for a total of EUR 90.5 mln. The transaction is expected to close in January 2007, conditional on the buyers financing of the deal.
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PropertyEU Archive
Prochnik building sells for EUR 50 mln
A property formerly used by Polish men's wear producer Prochnik has been sold for EUR 50 mln to the Warsaw-based real estate company MR2. The building, located in Lodz, the second Polish largest city, was sold at auction with a reserve price set at around EUR 30 mln. Four companies ...
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PropertyEU Archive
Inmoracal to get 89% stake in SFL
Inmoracal has acquired a 89.67% stake in France's property investment firm Societe Fonciere Lyonnaise, the Spanish property company announced to the French regulatory agency. Inmoracal had offered EUR 55 per share for 20.64% of SFL, the website Finanzas.com said. Before the latest acquisition, Inmoracal held 79.36% stakes in SFL ...
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PropertyEU Archive
Klemurs IPO 9 times oversubscribed
Klemurs has announced the successful placing of 6.8% of its shares, including the over allotment option, at a price of EUR 20 per share during a fixed-price offering on December 6. Demand was 9.4 times above the size of the offering, Klemurs, a subsidiary of French real estate group ...
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PropertyEU Archive
Allokton buys 9 properties ahead of listing
Allokton, the Stockholm-based real estate company, has bought nine properties from peer Solrosen Invest for more than SEK 600 mln (EUR 60 mln). The properties are in the Swedish towns of Falun and Borlange are mainly retail. They have a total lettable area of 42,000 m[sup]2[/sup].
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PropertyEU Archive
Warburg-Henderson acquires BAT centre
Warburg-Henderson KAG, the Anglo-German open-ended fund, has bought the British American Tobacco (BAT) building in Hamburg in a sale and leaseback deal, newspaper Immobilien Seating reported. The property with 15,400 m[sup]2[/sup] of lettable area was acquired for the Warburg-Henderson's Pan Europe No. 2 fund.
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PropertyEU Archive
Orco acquires office property in Berlin
Orco Property Group, based in Luxembourg, has acquired an office building in Berlin for an undisclosed sum. The property at Kurfurstendamm 102 comprises 10 office and retail units with a total floor space of 3,400 m[sup]2[/sup]. The tenants include Commerzbank, Canon and the IVD real estate federation of Berlin-Brandenburg.
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PropertyEU Archive
JP Morgan Asset Management buys Bonn mixed-use mall
JP Morgan Asset Management has bought the Fronhofer Galeria from ING Real Estate Development Germany. Located in the city of Bonn - Bad Godesberg, Fronhofer Galeria is a mixed-use property that was created from the redevelopment of the former Hertie-Kaufhaus department store in 2004.
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PropertyEU Archive
Metro 'sells' Kaufhalle RE to Cushman & Wakefield
Germany's Metro is to sell its Kaufhalle real estate operations to Cushman & Wakefield for more than EUR 130 mln, newspaper Handelsblatt has cited sources close to the sale negotiations as saying. Metro declined to comment when contacted by the newspaper. Cushman & Wakefield will be selected from a large ...
