All Real Assets articles in Web Issue – Page 218
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PropertyEU Archive
Dubai sovereign makes EUR 3b bid for Colonial stake
Colonial's shareholders said on Thursday that they have asked the Investment Corporation of Dubai (ICD) to make changes to the EUR 3 bn takeover bid launched late on Wednesday. In a statement to the Spanish stock market regulator, Colonial's shareholders added they wanted more information about the conditions of the ...
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PropertyEU Archive
Redevco to start construction of its 3rd shopping centre in Turkey
Dutch retail developer Redevco is set to start construction of a 54,000 m[sup]2[/sup] shopping centre in Turkey's Marisa region. The project will be the first mall in Marisa, which is located in one of Turkey's most industrialised provinces in the Aegean region with a population of 1,280,000. The development, providing ...
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PropertyEU Archive
M&S to open 50 new stores in Central and South East Europe
UK retail chain Marks and Spencer Group said on Friday it has acquired 50% of M&S Marinopoulos, its franchise partner operating 38 M&S stores in Greece, a number of Balkan states, including Romania and Bulgaria, and Switzerland for EUR 50 mln cash. The joint venture plans to open up to ...
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PropertyEU Archive
Global RE transactions top EUR 668b - report
Over $1 tln (EUR 668 bn) in large commercial property transactions were recorded globally in 2007. Real Capital Analytics, a US-based real estate researcher, said the findings in its Global Capital Trends report indicated that the commercial real estate marketplace is much larger than previously estimated.
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PropertyEU Archive
Banco Popolare hires Morgan Stanley for launch of EUR 800m fund
Italy's Banco Popolare has hired Morgan Stanley to set up a fund, worth some EUR 800 mln, that groups together the bank's real estate assets that were spun off in December, Italian newspaper Il Sole 24 Ore reported on Friday.
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PropertyEU Archive
Development Securities agrees refinancing with BoS
UK-based Development Securities said on Thursday that it has completed the refinancing of part of its liability portfolio. It has now prepaid a £34 mln (EUR 44 mln) 8.3% fixed rate, secured term loan that was due for expiry in 2018. As part of the prepayment arrangements, the company paid ...
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PropertyEU Archive
Schroder Property buys logistics asset south of Milan
Schroder Property Investment Management Italy has completed the acquisition of a logistics building in Brembio, south of Milan, for about EUR 20 mln. The 35,000 m[sup]2[/sup] property, completed in 2002, is wholly let to an international leading logistics company. The transaction reflects a net initial yield of 7.75%, Schroder said. ...
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PropertyEU Archive
Pirelli transfers management of Berenice to First Atlatic RE
Italian property giant Pirelli Real Estate said on Friday it has entered into an agreement with Milan-based asset manager First Atlantic RE to transfer the management of the office fund Berenice Fondo Uffici.
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PropertyEU Archive
Sony sells its European HQ in Berlin to Morgan Stanley-led consortium
Japanese consumer electronics group Sony is selling its European headquarters in Berlin's Potsdamer Platz to a consortium of US merchant bank Morgan Stanley, Germany's Corpus Sireo and Chicago-based The John Buck Company for an undisclosed amount. Market sources say the trio paid EUR 600 mln, significantly lower than the original ...
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PropertyEU Archive
Bologna reinvents itself
A wave of investments is set to change the look of the Italian city of Bologna. An injection of some EUR 22 bn over the next ten years will bring new life to Bologna’s dismissed areas in the inner city and to its infrastructure, in particular to the railway line ...
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PropertyEU Archive
Trigranit starts construction of Bonarka City in Krakow
Budapest-based real estate developer Trigranit started construction on Thursday of its Bonarka City Center site in the Podgórze district of Krakow, Poland. The new project, on a total area of around 19 hectares, will require an investment of about EUR 500 mln. It will be carried out in three stages, ...
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PropertyEU Archive
Colonial's shareholders still studying ICD offer
Colonial's majority shareholders, Luis Portillo and Nozar, said on Friday that they were still studying the takeover offer launched by the Dubai sovereign wealth fund, the Investment Corporation of Dubai (ICD), on Wednesday. 'Contrary to some media reports, shareholders have not yet taken any definite decision on the offer, given ...
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PropertyEU Archive
ULI to release emerging trends report at Mipim
The Urban Land Institute (ULI) and PricewaterhouseCoopers will present the Emerging Trends in Real Estate Europe 2008 report at the Mipim property fair in Cannes next month. The fifth edition of the annual report features analysis and predictions of the 27 markets in countries throughout Europe. The report is based ...
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PropertyEU Archive
Teesland iOG rebrands as Valad Property Group
Teesland iOG, the property fund and asset management group, announced on Friday that it has been rebranded as Valad Proeprty Group. Australia-based property group Valad (value-added) acquired Teesland iOG, along with developer Scarborough, last year to create a pan-European platform alongside its established presence in Asia Pacific.
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PropertyEU Archive
Rockspring's new TransEuropean fund spends EUR 150m
TransEuropean IV, a new closed-end, valued-added cross-border property fund established by Rockspring Property Investment Managers, has acquired eight assets in the Benelux, France and Spain for EUR 152 mln. London-based Rockspring said the fund purchased retail warehouses in the Dutch city of Hoorn and in Sandweiler in Luxembourg. The fund ...
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PropertyEU Archive
Qatari fund JV gets $2.5b loan for London's Chelsea Barracks
The property investment arm of Qatar's sovereign wealth fund has secured $2.5 bn (EUR 1.64 bn) in funding for the joint venture purchase of the Chelsea Barracks in London. Qatari Diar Real Estate Investment in what it describes as one of the 'UK's largest Islamic finance deals'.
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PropertyEU Archive
Ellier and Davy acquire EUR 43m property in Stuttgart
Dublin-based residential and commercial developer Ellier Developments has bought a building in Stuttgart's principal retail high street for EUR 43 mln in a joint venture with Davy Private Clients, an Irish wealth management specialist. Ellier was involved in the expansion and complete refurbishment of the 8-storey Konigstrasse 19a building, which ...
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PropertyEU Archive
BNP Paribas in running for Sacyr's stake in Eiffage
French bank BNP Paribas is among the financial institutions said to be in talks to acquire the 33% stake held by Spanish construction firm Sacyr Vallehermoso in French services and construction company Eiffage. Newspaper Les Echos reported that BNP Paribas, a former shareholder in Eiffage, is the latest in a ...
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PropertyEU Archive
Multi opens Espacio Buenavista mall in Oviedo
Multi Development's Espacio Buenavista shopping centre opens its door to the public on Tuesday in the northern Spanish city of Oviedo. The 40,000 m[sup]2[/sup] retail scheme forms part of a new Santiago Calatrava-designed complex that also features a congress centre, the head office of the Principality of the Asturias and ...
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PropertyEU Archive
Irish property market remains sound - CB Richard Ellis
CB Richard Ellis (CBRE) have issued an upbeat assessment of the Irish property market. CBRE says in its latest bi-monthly report on the country that it has not found any evidence of the economic downturn impacting on office take-up in Dublin. But it notes a greater emphasis among tenants on ...
