All Real Assets articles in Web Issue – Page 213
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PropertyEU Archive
IVG acquires prime office in Helsinki
Germany's IVG Institutional Funds has acquired a new waterfront office development in the Ruoholahti district of Helsinki for an undisclosed amount. The vendor is a subsidiary of private investor Ahlström Capital Oy. The building, with an occupancy rate of 97%, is let to five tenants with term leases ranging from ...
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PropertyEU Archive
Mandarine acquires luxury real estate group La Perla
Paris-listed property company Mandarine group said it has agreed to acquire Dutch luxury real estate group La Perla International Living for an undisclosed amount. Mandarine will pay for the transaction through the issue of new shares and will take on the name of the company it is acquiring following ...
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PropertyEU Archive
Icade builds new Credit Lyonnais HQ
French property company Icade said it is to build the new Credit Lyonnais headquarters in Villejuif, in the southern outskirt of Paris. The project, called Metropolitan, will encompass some 60,000 m[sup]2[/sup] of office space distributed across three buildings. Completion of the first asset is due for end-2008, with the other ...
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PropertyEU Archive
GE Hungary takes major lease in East Gate business park
GE Hungary's energy division has leased a total 6,300 m[sup]2[/sup] of space at the East Gate Business Park (EGBP) that is being developed in Budapest by Wallis Real Estate Zrt. GE was advised by global real estate consultant Cushman & Wakefield.
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PropertyEU Archive
CA Immo disposes of Renaissance tower in Warsaw
Austrian property company CA Immo International has sold the Renaissance tower in Warsaw, Poland, to an unnamed buyer. Renaissance is an office property in Warsaw's city centre offering some 17,500 m[sup]2[/sup] of space. CA Immo said that the transaction price comes to around EUR 60 mln, representing an increase of ...
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PropertyEU Archive
DEC starts construction Sheraton Malpensa hotel
Construction started this week on the new Sheraton Malpensa Airport hotel located near Milan's Malpensa airport in northern Italy. Italy's Degennaro group, which owns the site through its construction unit DEC, expects the 440-room hotel facility to be completed in January 2010. Total investment for the property, which is adjacent ...
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PropertyEU Archive
Sponda set to launch new Finnish fund
Finland's property company Sponda said on Friday it is launching a new real estate fund, the Sponda Real Estate Fund II Ky. The new investment vehicle will target investment of about EUR 200 mln, and will have an initial portfolio of EUR 70 mln. The fund will invest primarily in ...
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PropertyEU Archive
IPD UK index: January property returns negative but improving
Total returns on the Investment Property Databank (IPD) monthly index for direct investments in UK commercial property were negative in January but showed an improvement on the previous month. Total returns in January 2008 were -1.6%, an improvement on the December 2007 total return of -3.7% and giving a 12-month ...
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PropertyEU Archive
New Star UK fund sells London office for EUR 170m
UK asset manager New Star has sold the office property at 60 Gracechurch Street in the City of London for £127.5 mln (EUR 170 mln), reflecting an initial yield of about 5.5%. The fund manager declined to name the buyer but said it received a number of offers for the ...
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PropertyEU Archive
Prologis leases 27,500 m[sup]2[/sup] to Unilever in Romania
Logistics property giant Prologis has leased 27,500 m[sup]2[/sup] of warehousing space in Budapest to Unilever. The Anglo-Dutch food and consumer goods manufacturer will occupy a new building at Prologis Harbor Park, a 132,000-m[sup]2[/sup] rail-served distribution park located 12 kilometers southwest of downtown Budapest. Unilever is expanding its regional operations, and ...
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PropertyEU Archive
AXA REIM to invest EUR 6.3b in 2008
French fund manager AXA Real Estate Investment Managers (AXA REIM) has said it expects to invest a record EUR 6.3 bn this year, demonstrating that it is not doom and gloom in Europe's property market. The planned volume represents an increase of 15% on the EUR 5.7 bn volume last ...
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PropertyEU Archive
AFI Europe gets EUR 234m financing for Bucharest project
AFI Europe has signed a EUR 234 mln financing agreement with lender Hypo Real Estate for the AFI Cotroceni Park retail and office project in Bucharest.
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PropertyEU Archive
Plaza Centers acquires sixth project in Romania
Plaza Centers, the emerging markets property developer, has acquired a 41,000 m[sup]2[/sup] site in the Transylvania region of Romania for the development of a shopping and entertainment centre.
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PropertyEU Archive
C&W appointed agent for Ikea's Port Lodz project
Global real estate consultant Cushman & Wakefield (C&W) has been appointed the exclusive agent for Ikea's Port Lodz shopping centre project in Poland. The project is the seventh investment of its type by Inter Ikea Centre Polska in Poland.
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PropertyEU Archive
Kuwaiti bank launches 'Islamic' real estate fund for Turkey
The National Bank of Kuwait (NBK) has announced the launch of a Shariah-compliant real estate fund to invest in Turkey. NBK Capital's CEO Salah Yousef Al Fulaij said that the fund will give the bank's clients access to a diversified portfolio of development and value-added real estate projects in Turkey. ...
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PropertyEU Archive
Bank of Ireland fund buys Danish mall
US financial group AIG has sold Galleri K shopping centre in Copenhagen to a fund managed by Bank of Ireland Private Banking for an investment volume of DKK 1 bn (EUR 135 mln). Completely redeveloped by AIG Global Real Estate and Danish developer, Keops Development, Galleri K comprises 25 individual ...
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PropertyEU Archive
Henderson's Italian retail fund secures four deals
Global asset management firm Henderson Global Investors said on Monday that it has raised EUR 60 mln in equity from an institutional investor at the first closing of its Italian fund Azzurro. Subsequently, the core plus fund carried out four acquisitions totalling EUR 145 mln.
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PropertyEU Archive
AEW Europe reports EUR 4.1b of transactions in 2007
Real estate investment manager AEW Europe said on Tuesday that it had acquired over EUR 1.3 bn of assets and arbitrated a further EUR 2.8 bn worth of deals in 2007, representing more than a 50% increase on the volumes the year before.
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PropertyEU Archive
Great Eagle sells EUR 1bn Hong Kong asset
Property company Great Eagle is selling shopping and office assets in Hong Kong to affiliate Champion REIT for HK$12.5 bn (EUR 1.08 bn) in one of the largest ever transactions involving a real estate investment trust in Asia.
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PropertyEU Archive
Beni Stabili abandons REIT plans for 2008
Listed Italian real estate company Beni Stabili has shelved plans to convert to the new Italian version of a real estate investment trust (REIT) this year. The company will wait until 2009 to decide whether to transform itself into the tax-efficient investment vehicle, known as a SIIQ in Italy.
