All Real Assets articles in Web Issue – Page 212
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PropertyEU Archive
Beni Stabili purchases EUR 23m site in Milan
Beni Stabili’s joint venture company with Greenway Costruzioni has signed an agreement to purchase a 17, 000 m[sup]2[/sup] site in Milan for some EUR 22.9 mln. According to the statement, the company will finance the acquisition with a target leverage of 60%, with closing at the end of April 2008.
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PropertyEU Archive
Kardan plans to invest EUR 800m in China and India
Amsterdam and Tel Aviv-listed investment company Kardan plans to invest up to EUR 800 mln in China and India to develop residential and commercial real estate. 'We see enormous demand in these markets,' Kardan chairman Alain Ickovics said in an interview with Bloomberg.
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PropertyEU Archive
JER Partners adds Stevenage to its Morethanhotels portfolio
Global real estate firm JER Partners has announced the acquisition of the Express by Holiday Inn Stevenage for an undisclosed sum. The 129-room hotel will become part of the Morethanhotels portfolio which the company purchased in October 2007. JER already operates 11 Express by Holiday Inn hotels in England. The ...
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PropertyEU Archive
Financial squeeze closes UK residential property stock exchange
The UK's only residential property stock exchange, Property Investment Market, has been forced to close after it failed to raise sufficient funds to meet European financial regulations, the Financial Times reported on Wednesday.
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PropertyEU Archive
King Sturge launches German market index
Property adviser King Sturge has launched a new monthly survey of the level of confidence in the German property market. Combining the views of 1,000 property professionals as well as data from various indices and information on base interest rates, the Real Estate Economic Index (Immobilienkonjunktur-Index) is designed to provide ...
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PropertyEU Archive
Standard Life sells London property
Standard Life Investments Property Income Trust announced on Wednesday that it has sold its long leasehold interest in Wellington House at 125 The Strand in London to the freeholder, the Duchy of Lancaster. The mixed-use office and retail property extends to approximately 4,000 m[sup]2[/sup] and is let to several tenants, ...
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PropertyEU Archive
Italy's Intesa Sanpaolo set to list EUR 1bn REIT
Italy's bank Intesa Sanpaolo said it has started the process to list its EUR 1 bn real estate investment trust, IMMIT Immobili Italiani. The new company, which was founded in October 2007 through the spin-off of the bank's non strategic property portfolio, owns 285 assets representing about 470,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Metrovacesa to invest EUR 4 bn by 2010
Spanish property giant Metrovacesa plans to invest up to EUR 4 bn in commercial property across Europe by 2010 in a move aimed at reducing its exposure to the shrinking residential market in the country. The company, which on Monday announced the launch of a new strategic plan for the ...
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PropertyEU Archive
Citycon FY profit rises 61% to EUR 204m
Finnish retail property firm Citycon reported net profit, including fair value gains, for the full year 2007 rose more than 61% to 203.9 mln from EUR 126.4 mln in 2006. Turnover increased by 27% to EUR 151.4 mln. The company said the direct result came in at EUR 35.7 mln, ...
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PropertyEU Archive
SPDE drops EUR 25m Haugesund Arena project
Scandinavian Property Development (SPDE) said on Thursday it had abandoned the EUR 25 mln purchase of the Haugesund Arena development project from Flotmyr Utbygging. The company cited ‘uncertainty regarding the development and construction costs’ of the project as the reason for the withdrawal.
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PropertyEU Archive
Riofisa unveils EUR 270m Sofia project
Spanish real estate developer Riofisa has unveiled plans for the Civis Center Sofia, set to become the largest shopping centre in Bulgaria. The complex, covering an area of 280,000 m2, will house a shopping centre, hotel and office space for an estimated investment of EUR 270 mln. Work on the ...
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PropertyEU Archive
Luresa buys Astro tower in Brussels
Spanish property company Luresa, a subsidiary of the Union Resinera Espanola group, has bought the Astro tower in Brussels from a consortium of Dutch investor SNS Property Finance and developer Hugenholtz Property Group Belgium (HPG). Financial details were not disclosed, but newspaper Les Echos estimates the price at between EUR ...
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PropertyEU Archive
Hines shops in Barcelona
Spanish property company Habitat has sold an office building in Barcelona for EUR 50 mln to US property investor Hines, newspaper Cinco Dias reported. The building is located on the central Avenida Diagonal de Barcelona and consists of 18,323 m[sup]2[/sup] of office space and 240 parking spaces. Designed by French ...
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PropertyEU Archive
C&W: London remains world's most expensive office location
The world's top 10 most expensive office locations saw rents increase by an average 40% last year, according to Office Space Across the World 2008, a report issued by real estate services firm Cushman & Wakefield.
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PropertyEU Archive
Morley, SachsenFonds launch European industrial fund
UK fund manager Morley and Munich-based SachsenFonds have teamed up again to launch a new logistics and industrial property fund to 'capitalise on the active and growing logistics market in Continental Europe'.
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PropertyEU Archive
Rezidor to open Radisson Resort in Ukraine
Brussels-based hospitality group Rezidor said on Thursday it plans to open a 213-room Radisson Resort in Alushta, a Black Sea resort in Ukraine. The company said the first phase of the project involves the refurbishment of an existing 63-room unit set to open in March 2008. This will include
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PropertyEU Archive
AMB Property pre-leases 12,100 m[sup]2[/sup] in Brussels distribution development
San-Francisco based industrial property developer and owner AMB Property Corporation said it has pre-leased more than 130,000 sq ft (12,100 m2) in the 437,000 sq ft AMB Boom Distribution Center to fashion retailer C&A Belgie. C&A will use the facility to expand it distribution capabilities in Belgium.
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PropertyEU Archive
Norwegian Property sells assets for EUR 104m
Oslo-based investor Norwegian Property said Friday it has sold three non-core assets to a consortium led by Patero Private Equity for NOK 823 mln (EUR 104 mln). Specifically, it has agreed to sell the Ostre Aker vei 20 and 22 properties at Okern in Oslo for NOK 155 mln while ...
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PropertyEU Archive
Cofinimmo buys France's Medimur for EUR 229m
Belgian listed property company Cofinimmo said it has agreed to buy French company Medimur, the owner of clinics and nursing homes in France, for an investment of EUR 229 mln. As it bolsters its healthcare property investments, the company said it is also purchasing three more nursing homes around Brussels ...
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PropertyEU Archive
Movenpick opens 5-star business hotel in Izmir, Turkey
Swiss premium hotel chain Movenpick said it has opened a new upmarket hotel in the Turkish city of Izmir. The five-star Movenpick Hotel Izmir, which has been extensively refurbished over the last two years, offers 185 rooms and suites tailored to the needs of business travellers. After Istanbul and ...
