All Real Assets articles in Web Issue – Page 210
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PropertyEU Archive
ECDC to update Isle of Man company registration
AIM-listed property investor European Convergance Development Company (ECDC) plans to to update its company registration to allow it to return capital to shareholders and buy back its shares. The company, which is managed UK-based investment manager Charlemagne Capital, said it plans to re-register as a company governed by the latest ...
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PropertyEU Archive
ULI conference divided on scenarios for global economy
European property leaders who attended the annual ULI Europe conference held in Paris earlier this week appeared to be equally divided about their outlook on the global economy. In answer to an impromptu poll, roughly 50% of the attendees indicated they were optimistic that the current economic slowdown would not ...
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PropertyEU Archive
ECC Invest launches Polish residential funds in Netherlands
Dutch property investor ECC Invest said on Thursday it plans to launch a property investment fund on the Dutch market. The Polish Residential Fund I will invest in two large-scale residential projects under development by parent company ECC Group. The first is a modern apartment complex inn Warsaw, while the ...
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PropertyEU Archive
Pramerica in Poland's first major logistics sale-and-leaseback
Pramerica Real Estate Investors has acquired two logistics centres in Poland on behalf of its open-ended fund TMW Immobilien Weltfonds from European logistics company Raben Group. The Polish investment team of Jones Lang LaSalle, which acted for Raben, described the dual deals as the 'first institutional quality sale-and-lease-back transactions' in ...
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PropertyEU Archive
Dawnay Day Treveria sees opportunities to add to EUR 2.5b retail portfolio
Dawnay Day Treveria, a UK investor in German retail property, has said it sees opportunities for further 'selective acquisitions' given the current market environment and robust fundamentals of the Germany economy. Between 1 July and end-December last year, DDT acquired 63 German properties. with a net initial yield of ...
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PropertyEU Archive
Polis poised to go shopping after strong 2007
Berlin-based office property specialist Polis Immobilien on Friday announced significant sales and earnings growth in 2007. According to preliminary figures released by the company, rental income more than doubled in 2007, rising to around EUR 9.8 mln from EUR 4.3 mln in 2006. Income from current property management ...
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PropertyEU Archive
IC Immobilien consults on EUR 500m in deals in 2007
German real estate services provider and fund manager IC Immobilien has announced it provided consultancy services for property transaction with an aggregate value of EUR 500 mln in 2007. Almost EUR 360 mln of the volume involved buyer-side consultancy, the focus of the company's advisory services for German and international ...
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PropertyEU Archive
GE Real Estate buys remainder of Polish retail jv for EUR 80 mln
GE Real Estate Central & Eastern Europe said it has bought the 24.8% stake it did not already own in the Polish retail joint venture Green Holdings for EUR 80 mln. GE is buying out its partner, fund manager Heitman, ahead of the imminent expiry of the Heitman Central ...
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PropertyEU Archive
CB Richard Ellis acquires Romanian property adviser
CB Richard Ellis Group said on Friday that it has acquired Eurisko Consulting, the largest independent commercial real estate services company in Romania. The purchase price of about EUR 24 mln is subject to a post closing audit.
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PropertyEU Archive
Merrill Lynch, Colonia buy mixed real estate portfolio in Germany
Merill Lynch and German firm Colonia Real Estate have teamed up to acquire a mixed real estate portfolio in Germany for about EUR 75 mln. Merill Lynch holds 90% of the joint venture set up for the transaction while Colonia has the remaining 10%.
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PropertyEU Archive
Vivacon buys major real estate manager in Germany
German-listed residential property company Vivacon has acquired 80% of Curanis Holding, one of the largest real estate managers in Germany. Curanis is based in Munster, Lower Saxony and services more than 53,000 residential and commercial units in more than 250 locations. The market value of the properties under management amounts ...
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PropertyEU Archive
European office market 'resilient' - CBRE
Occupier demand for office space across Europe remained strong through 2007, with the full-year total of over 10 million m[sup]2[/sup] on a par with the previous year, according to CB Richard Ellis' upcoming EMEA Offices Market View. Despite predictions of growing caution among occupiers, particularly in the financial sector, ...
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PropertyEU Archive
Colliers International Hellas names new managing director
Colliers International Hellas has appointed Andreas Marambos as its new managing director, the international property consultants announced Friday. Marambos joins Colliers from Ster Cinemas, Greece’s largest multiplex cinema operator chain, where he held the position of managing director from 2000 to 2007. At Ster, Marambos led the development and ...
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PropertyEU Archive
Prologis sees soaring UK internet sales driving warehouse demand
Soaring internet retail sales in the UK will significantly boost the amount of warehouse space required, according to a report released by Denver-based distribution facilities group Prologis. The report, entitled ‘Internet Retailing: Opportunities and Challenges for the UK’s Distribution Property Markets’, looks at the impact of internet sales on ...
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PropertyEU Archive
London still most expensive for office and industrial space - King Sturge
London remains the most expensive city in the world to occupy office space, the latest twice-yearly Global Industrial and Office Rents Survey from international property consultancy King Sturge show. Costs in London’s West End are now running at EUR 2,166.78/m[sup]2[/sup] per annum (£1,400/ft²/annum) while those in the City of ...
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PropertyEU Archive
CBRE fund buys 10 hotels in Germany
CB Richard Ellis Investors has bought 10 hotels in Germany from US investment company Lone Star for its hotel investment fund Dynamique Hotels. Financial details were not disclosed. The deal, which was concluded at end-2007 but not announced until last Friday, was part of a share swap and included the ...
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PropertyEU Archive
New Europe acquires Romanian portfolio for EUR 46m
AIM-listed Central and Eastern European property investor New Europe Property Investments (NEPI) has acquired a portfolio of 18 properties located throughout Romania through the purchase of two companies, General Investment and General Building Management. The total estimated cost of the transaction was EUR 46.3 mln although the final purchase price ...
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PropertyEU Archive
Vastned Retail grants additional time for offers
Dutch-listed property fund Vastned Retail has announced that the parties bidding for its shares as well as parts of its portfolio will have additional time to finalise their offers. The board of management said further announcements are expected by the middle of March, while emphasising that the statement was not ...
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PropertyEU Archive
Kenmore fund disposes of two Norwegian assets
Kenmore European Industrial Fund (KEIF) has sold two Norwegian properties to Close Euro PIP for NOK 118.7 mln (EUR 14.8 mln). The transaction reflects a net initial yield of 6.7% and was done at a price above the last valuation of 30 September 2007. The properties consist of a 9,750 ...
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PropertyEU Archive
HSBC Private Bank purchases office development from UBS
HSBC Private Bank, acting for private clients, has acquired UBS Global Asset Management's office property at 160 Tooley Street for about £135 mln (EUR 181 mln), Property Week has reported. The transaction reflected an initial yield of around 5.25%.
