All Real Assets articles in Web Issue – Page 225
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PropertyEU Archive
Park Plaza developing four-star art'otel in London
Park Plaza Hotels, the AIM-listed owner and operator of four-star hotels in Europe and the Middle East, said it has reached a joint venture agreement with Aldersgate Limited, the property vehicle of the Reuben Brothers, to develop a new apart-hotel under the 'art'otel' brand in London’s trendy Hoxton neighbourhood. Park ...
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PropertyEU Archive
SEB wins Morningstar award for best German RE fund
SEB Immoinvest, the German real estate fund of asset manager SEB Asset Management Deutschland, has been awarded the Morningstar Fund Award Germany 2008 as that country’s best property fund, defending its title in the category. The performance prize was awarded on 13 March 2008 and honours those funds that ...
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PropertyEU Archive
Regus 2007 results boosted by strong showing in emerging markets
UK managed offices group Regus said it had not yet seen any sign of a slowdown in its business as it released 2007 figures Friday, but added that growth in emerging markets like Brazil, Russia, India and China should compensate for any slowdown that might occur in the US and ...
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PropertyEU Archive
Edinburgh's 40 Princes Street development half full
The 40 Princes Street development in Edinburgh's city centre is now half full, as Davis Langdon has agreed to a 10-year deal to lease 490 m[sup]2[/sup] of space on the fifth floor of the development. Redevco's £12 mln (EUR 15.6 mln) development already houses an H&M and a Mexx story ...
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PropertyEU Archive
Dawnay Day refinances acquisition of six Croatian supermarkets
Dawnay, Day Carpathian, the AIM-listed retail property company that invests in Central and Eastern Europe, said it has refinanced the recent acquisition of six supermarkets in Croatia with a £40.5 mln (EUR 53 mln) debt facility. That represents a loan to cost of over 74%, the company said.
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PropertyEU Archive
Jones Lang LaSalle signs three-year transaction management agreement with BP
Jones Lang LaSalle said it has signed a contract to provide British Petroleum's European, Middle East, African and Asian operations transaction management services for a three-year term. With the agreement, Jones Lang LaSalle’s relationship with BP goes global, as it already provides the multinational with these services in the ...
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PropertyEU Archive
Immoeast sells Andel Park B office property in Prague
Austrian listed property company Immoeast said it has sold its Andel Park B office property in Prague to German property fund company SEB Immobilien-Investment for about EUR 71.5 mln. Immoeast had purchased Andel Park B in 2005. The property has total lettable space of about 23,000 m[sup]2[/sup] ...
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PropertyEU Archive
Crane Track wins special jury award at MIPIM
MIPIM has announced the winners of its 2008 awards, issuing accolades for green buildings, office buildings, residential developments, hotel and tourism resorts. The jury was presided by Barbel Schomberg, Managing Director of German property fund Deutsche Gesellschaft für Immobilienfonds.
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PropertyEU Archive
Cargo-Partner leases 16,000 m[sup]2[/sup] from Prologis in Budapest
Cargo-Partner has agreed to lease 16,000 m[sup]2[/sup] of industrial space at Prologis Park Budapest-Gyal. The logistics services group has operated in Hungary since 1994 and decided to move its headquarters and primary distribution centre in the country to the state-of-the-art Prologis facility. CB Richard Ellis acted as adviser in the ...
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PropertyEU Archive
ACI Real Estate, Ferretti in EUR 1 bn Dubai project
ACI Real Estate, an affiliate of Germany’s Alternative Capital Invest, has made a strategic agreement with luxury motor yacht manufacturer Ferretti Group to develop a luxury waterfront residence in Dubai valued at over EUR 1 bn. The project will be called Marine Legends.
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PropertyEU Archive
Kelleher to sell half of prestigious Dublin property for EUR 165m
Irish property developer Garrett Kelleher is selling half of the former Department of Justice building in central Dublin to clients of Dolmen Securities for EUR 165 mln, making it the largest Irish property deal so far this year, according to the Irish Independent newspaper.
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PropertyEU Archive
Fintecna buys ASL portfolio in Italy for EUR 203m
Italy's state-owned real estate firm Fintecna Immobiliare has acquired a portfolio of former ASL properties across Italy's Liguria region for a total EUR 203 mln. The real estate company was vying with the Malacalza Group in the bidding to acquire the assets, which were recently put up for sale with ...
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PropertyEU Archive
Otkritie, Deutsche Bank JV sells 4 Class-A offices in Moscow
A consortium led by Otkritie Financial Corporation and Deutsche Bank has agreed to sell four Class A office buildings with a total 101,000 m[sup]2[/sup] of space in Moscow's central office district Paveletskaya to the German real estate investment company KanAm Grund Kapitalanlagegesellschaft mbH (KanAm Grund). The properties are earmarked for ...
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PropertyEU Archive
Protego acquires €452m shopping centre in Helsinki
Protego Real Estate Investors has acquired the Kamppi Shopping Centre in Helsinki on behalf of the Nordic Retail Fund from Boultbee for €52.5 mln. Reported as the largest single asset transaction in Europe this year the deal reflects a net initial yield of 4.5%, increasing to circa 6.0% in 2012.
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PropertyEU Archive
Martinsa Fadesa granted 9-day postponement of debt payment
Spanish property company Martin Fadesa has announced that its creditor banks have agreed to delay the payment date of its approximately EUR 362 mln debt until 26 March. The company is attempting to restructure its entire EUR 5.1 bn debt load and has agreed with almost all its creditors, who ...
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PropertyEU Archive
Trigranit plans resort complex on Albania's Adriatic coast
Hungary-based property developer Trigranit is planning to build a coastal resort in northwestern Albania. The multimillion euro greenfield investment project will comprise all the essentials of a seaside town: hotels, residential villas, restaurants, a hospital and other public utilities as well as a road network. While political instability and severe ...
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PropertyEU Archive
High-end hotels in CEE 'continue to offer opportunities'
The boutique hotel sector in Central and Eastern Europe (CEE) is proving immune to the worst effects of the current credit crisis, according to James Doran, director of sales and marketing at MaMaison Hotels and Apartments, a brand of Orco Property Group. 'I'm not saying we’re recession-proof, but especially on ...
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PropertyEU Archive
Epra mulls setting up second EU REIT lobby group
The European Public Real Estate Association (Epra) is poised to establish a separate group to lobby for an EU-wide version of the tax-transparent real estate investment trust (REIT) rather than join the existing EU REIT Coalition which is spearheaded by the European Property Federation (EPF) in Brussels.
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PropertyEU Archive
Passive investors still waiting for 'saviour'
Many property investors in Europe are wearing 'rose-coloured glasses' and have not adjusted to the changed market reality, according to Ric Lewis, CEO of AEW Curzon Partners.
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PropertyEU Archive
Metrovacesa looks at possible merger
Spanish property company Metrovacesa is looking at several foreign real estate companies for a possible merger by the end of 2008 or beginning 2009, CEO Jesús García de Ponga told Spanish newspaper La Razón. De Ponga said that Metrovacesa is studying six or seven companies with a gross asset value ...
