All Real Assets articles in Web Issue – Page 22
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PropertyEU Archive
Italease launches retail property mortgages
Italian listed bank Italease is to launch a new line of property mortgages for the retail sector, the bank announced in a press release. The mortgages, dedicated to entrepreneurs, will finance at fixed rates up to 100% of a property, thanks to the insurance coverage provided by Netherlands-based Genworth Financial.
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PropertyEU Archive
Elysses Pierre acquires EUR 12 mln offices
HSBC REIM has acquired 7,826 m[sup]2[/sup] of offices in the southern Parisian suburb of Rungis for SCPI Elysees Pierre for a total of EUR 12.3 mln. The offices are fully let, French property news website Business Immo reported. Keops, investment department, and the Morin practice advised on the transaction.
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PropertyEU Archive
Habitat offers EUR 2 bn for Ferrovial
Spanish property company Habitat has launched an offer for peer Ferrovial Inmobiliaria, and is currently the front-runner in the bidding together with Lubasa, Spanish newspaper BolsaCinco reported. Although the price of the offer was not disclosed, sources close to the company said the transaction is valued around EUR 2 bn.
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PropertyEU Archive
NCC divests Finnish mall for EUR 25.4 mln
Sweden's NCC Property Development has divested the Sveitsin Portaali shopping center and a traffic service station development in Hyvinge, Finland for about SEK 230 mln (EUR 25.4 mln). NCC said the sale would generate a positive result of about SEK 40 mln (EUR 4.4 mln), which will be included in ...
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PropertyEU Archive
Hypo RE arranges EUR 28 mln financing for Redgroup
Munich-based Hypo Real Estate Bank has completed a EUR 28 mln facility for Redgroup to refinance the Nagano Office and Technology Park in Prague. Named to commemorate the success of the Czech ice hockey team at the Nagano Olympics, the Nagano Park comprises four office buildings and a data centre.
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PropertyEU Archive
Restaura acquires Paris buildings for EUR 64.5 mln
Catalan Restaura has acquired five buildings in the centre of Paris through its quoted French subsidiary R-SIIC, the property company announced in a press release. The assets, purchased for a total price of EUR 64.5 mln, are located in one of the capital's major street, Rue Rivoli, and have a ...
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PropertyEU Archive
CGG acquires logistics properties for EUR 50 mln
Commerz Grundbesitz-Spezialfondsgesellschaft (CGS), a subsidiary of Germany's Commerz Grundbesitz Group, has signed the contract for the acquisition of three logistics properties in the North Rhine Westphalia region of Germany for about EUR 50 mln. The buildings are earmarked for the company's EURO Logistik 1 special property fund for institutional investors.
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PropertyEU Archive
Earls Court to be sold for EUR 591 mln
Targetfellow Group, a private real estate company based in the UK, is reportedly in advanced talks to buy the twin Earls Court and Olympia exhibition centres in London for £400 mln (EUR 591 mln).
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PropertyEU Archive
Dubai acquires London's Shell-Mex for EUR 768 mln
Istithmar, the Dubai government investment agency, has reportedly bought the Shell-Mex office property in London for 'almost £520 mln' (EUR 768 mln). The striking building was sold by a consortium that includes Robert and Vincent Tchenguiz, and David and Simon Reuben, Property Week magazine reported.
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PropertyEU Archive
Danes acquire Cornish, Welsh supermarkets
A Danish syndicate has acquired two outlets of the Somerfield supermarket chain in the UK for £11.02 mln (EUR 16.2 mln) from property company British Land.
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PropertyEU Archive
Axa Property Trust goes Christmas shopping
Axa Property Trust has announced it expects to make new acquisition shortly following on from its purchase of three out-of-town retail warehouses in Montabaur and a plot of land next to an existing property in Kraichtal, both in Germany, for a total of EUR 19.4 mln.
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PropertyEU Archive
Row over Belgian property sale heats up
Opposition parties rounded on Belgium's finance minister Didier Reynders when he presented plans at the weekend to sell off EUR 500 mln worth of government buildings. The sale has to be completed before the end of the year to balance the budget, Reynders insisted.
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PropertyEU Archive
Sacyr to seek seat on Eiffage's board
Spanish property development company Sacyr Vallehermoso will try to get a seat on Eiffage's board later this week, Spanish national newspaper ElPais reported. The company intends to obtain the seat previously occupied by Belgian group Frere, who sold the 6.1% stake he held through his French investment vehicle, ...
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PropertyEU Archive
Pan-European Islamic RE fund launched
The European Islamic Investment Bank (EIIB) has announced the launch of a Sharia-compliant fund that will directly purchase office, retail and industrial real estate in and around major cities across Europe. EIIB appointed Knight Frank Investment Management as the fund advisor with responsibility for sourcing real estate deals and managing ...
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PropertyEU Archive
Plan for world's second tallest tower unveiled
Privately-owned Irish property company, Shelbourne Development, has unveiled revised plans to build a 2,000 foot (609 metre) residential tower in Chicago. Shelbourne purchased a site on the shore of Lake Michigan for $64 mln (EUR 48.4 mln) in July for the 'Chicago Spire', which would be the tallest skyscraper ...
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PropertyEU Archive
Citigroup raises EUR 1.1 bn for European property fund
Citigroup's property arm has raised a total of $2.1 bn (EUR 1.58 bn) for its first high-return real estate funds that are designed to cash in on the investor demand for alternatives to stocks and bonds.
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PropertyEU Archive
Beni Stabili acquires Rome building for EUR 108 mln
Italy's Beni Stabili has announced the purchase of a building in central Rome for EUR 108 mln, Italian Newspages Realestate reported. The property company won the bidding run by the city's municipality in June 2006, and it has moved forward with the acquisition this month. The property covers a ...
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PropertyEU Archive
GE buys German offices for EUR 140 mln
GE Real Estate Germany has acquired a portfolio of 18 office buildings in western Germany for approximately EUR 140 mln from insurance company HDI-Gerling Lebensversicherung. Twelve buildings in the 88,000 m[sup]2[/sup] portfolio are in the top seven business in the west of the country, namely Berlin, Dusseldorf, Frankfurt, Hamburg, Koln ...
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PropertyEU Archive
Reubens bros in EUR 237 mln buy from Redevco
Redevco UK has sold a building housing a Primark store on Oxford Street in London's West End to the Reuben Brothers for more than £160 mln (EUR 237 mln). The transaction reflects an initial yield of over 4%.
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PropertyEU Archive
Keops extends time for EUR 313 mln deal
Danish developer Keops has extended the time for Essex Invest Sverige to finalise financing for the purchase of 68 properties in Sweden for SEK 2.85 bn (about EUR 313 mln). Under the original agreement Essex Invest Sverige had until December 10 to secure financing but this has now been pushed ...
