All Real Assets articles in Web Issue – Page 221
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PropertyEU Archive
Segro eyes growth in Continental Europe
UK property company Segro said on Thursday it will continue to expand across Continental Europe in 2008 as it expects it will take months for the UK commercial market to recover from the turbulence in the credit and investment markets. Ian Coull , CEO of the industrial and business space ...
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PropertyEU Archive
Vinci, Fortis to create the world's largest parking manager
Vinci and Fortis Bank have signed a memorandum of understanding to merge their public parking businesses. The deal involves the parking lots managed by Vinci Park, a unit of Vinci Concessions, and Interparking, part of Fortis Real Estate. Both parties would hold a stake in the new company, with Vinci ...
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PropertyEU Archive
IPD: Dutch property investments remain resilient
Investment Property Databank (IPD) has said that total return of its ROZ / IPD Dutch Property Index this year was 11.3%, down from 12.5% in 2006, but close to the 11.4% average ten-year annualised total return. In 2007 property outperformed both equities and bonds, which returned -16.7% and 1.7% respectively. ...
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PropertyEU Archive
EBH snaps up Point Hotel in Edinburgh
Northern Irish investment company WG Mitchell has sold the Point Hotel in the centre of Edinburgh for more than £20 mln (EUR 26 mln). The three-star 139-bedroom hotel in Bread Street was acquired by Jersey-based private company EBH. The deal also includes the neighbouring bar, The Chanter.
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PropertyEU Archive
Turkey is a safe haven for property - King Sturge
Turkey is emerging as a key high-growth property development and investment market, according to the first Turkey Property Market Report issued by King Sturge. The property consultant found that sustainable economic growth, greater political stability, wider investment in infrastructure and favourable demographics ‘all contribute to a very positive sentiment’.
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PropertyEU Archive
Autogrill buys two duty-free retail firms for EUR 1b
Italian foodservice operator Autogrill said on Monday it has sealed two retail deals in Spain and the UK for a total of EUR 1 bn. The food and catering group has raised its stake in Spanish-based airport duty free retailer Aldeasa to 99.90% from 49.95%. The Milan-based group has also ...
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PropertyEU Archive
Apollo raises $1.4b for third European property fund
The real estate arm of private equity group Apollo Management has raised $1.4 bn (EUR 910 mln) in equity after the final closing for its third dedicated European fund. Apollo Real Estate Advisors said the Apollo European Real Estate Fund III would pursue investments of real estate assets and portfolios ...
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PropertyEU Archive
Alstria office REIT posts 170% increase in revenues
Hamburg-based Alstria office REIT reported a 170% increase in revenues to EUR 82.6 mln in its preliminary financial results for 2007. The company also reported a rise in net asset value to EUR 871 mln, which is up around EUR 473 mln (or 119%) compared to the previous year. According ...
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PropertyEU Archive
Realkapitaal launches EUR 200m CEE residential fund
Private equity fund manager Realkapitaal Partners is looking to raise EUR 200 mln with its new CEE Residential Fund to be launched at the MIPIM trade fair in Cannes this week. The first closing will be in April 2008.
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PropertyEU Archive
Pirelli RE to consolidate its German business in 2008
Italy's Pirelli RE has said it will focus on consolidating its German business this year. It will also seek more investment opportunities in Bulgaria and Romania, while targeting further developments in Poland. The Italian real estate giant plans to increase its EUR 15 bn in assets under management in Germany, ...
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PropertyEU Archive
Grupo San Jose to list in 2008
Spanish developer San Jose said on Friday it plans to list this year as part of its merger process with listed company Parquesol. In a statement, the company said following the merger, the new group will be called Grupo San Jose, and will be divided into six main business areas: ...
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PropertyEU Archive
Henderson raises EUR 245m for retail mall fund
Asset management firm Henderson Global Investors said on Monday it had raised EUR 245 mln from institutional investors for the third closing of its European Outlet Mall Fund. The investors include Allianz, BNP Paribas, the Cordares European retail property fund and CBRE Investors’ clients.
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PropertyEU Archive
GIC, Orchard launch £300m 'Special Situations' UK fund
GIC Real Estate, the property investment arm of the Singapore government, is teaming up with UK commercial property investment manager Orchard Street, to launch a £300 mln ‘Special Situations’ fund which will invest in commercial property in all main sectors of the UK market.
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PropertyEU Archive
Quintain secures £620m refinancing
Property investment and development company Quintain announced on Friday that it has reached agreement with eight banks to refinance all its bank debt with a series of bi-lateral loans. The new loan facilities total £620 mln and have an average tenure of 5.6 years, with an average margin of 1.15% ...
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PropertyEU Archive
Aberdeen sees opportunity amid volatility
Aberdeen Property Investors expects European investment activity in 2008 to weaken by around 30%, but it also argues that there are opportunities despite the market weakness in its current European Property Snapshot.
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PropertyEU Archive
Nieuwe Steen acquires Philips pension fund property
Dutch property fund Nieuwe Steen Investments has bought eight properties in the Netherlands from the Philips pension fund for a total EUR 143 mln. The portfolio comprises more than 73,000 m[sup]2[/sup] of office and retail space centred on the central urban conurbation. The rent revenues total EUR 11.2 mln. Half ...
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PropertyEU Archive
Financial advisors back property fund withdrawal stop
Some 50% of independent financial advisors believe the move towards suspending withdrawals from property funds is a ‘sensible measure to safeguard the interests of investors,’ according to REIT information provider Reita.
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PropertyEU Archive
Pirelli RE hopes to close Arcandor deal by end-month
Pirelli Real Estate CEO Carlo Puri Negri said on Monday that he hopes Arcandor's sale of 49% of the Highstreet portfolio to a consortium of Deutsche Bank, Pirelli RE and the Borletti Group will close by end of March. Pirelli RE expects to hold a 20% stake in the joint ...
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PropertyEU Archive
Union Investment buys Las Palmas building in Rotterdam
Union Investment Real Estate has strengthened its investment portfolio in the Dutch Randstad with the acquisition of the Las Palmas building in Rotterdam from real estate developer OVG for an undisclosed amount. The Hamburg-based company said that Las Palmas is the first investment object for its open-ended real estate fund ...
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PropertyEU Archive
Carrefour to make real estate its second business
Carrefour is to sell EUR 1.5 bn of property to private and institutional investors this year as part of the French hypermarket group's new strategic plan to make real estate its second core business. 'Property will become a new area of expertise,' Carrefour said during the presentation of its 2007 ...
