All Real Assets articles in Web Issue – Page 228
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PropertyEU Archive
TAGs consolidated profit up five-fold, revenues rise 36% in 2007
Hamburg-based real estate company TAG Tegernsee has reported consolidated earnings before taxes increased nearly fivefold in 2007, rising to EUR 31.1 mln from EUR 6.4 mln, while revenues increased 36% to EUR 146.1 mln. In preliminary indications on its performance in 2007, TAG pointed to strong growth in all business ...
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PropertyEU Archive
Cofinimmo buys Brussels office property, closes Medimur acquisition
Belgian listed property company Cofinimmo has agreed to buy a Brussels office building known as Omega Court. Cofinnimo said an exact investment price for the acquisition had not yet been set and would depend on the rental situation in the building at the end of July 2008. It noted ...
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PropertyEU Archive
Master plan architects chosen for Orco's Wertheim project
Listed property company Orco Germany said Berlin-based architectural firm Kleihues + Kleihues has been chosen to design the master plan for its Wertheim site in Berlin's Leipziger Platz. The architectural firm was one of nine invited to participate in an urban design competition launched in September 2007 by Orco and ...
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PropertyEU Archive
Sovereign wealth funds in 'non-interference' pledge
Singapore and Abu Dhabi have moved to reassure the world that they will not use the massive financial clout of their state-owned investment vehicles to political advantage. The governments of Singapore and Abu Dhabi agreed several policy principles on sovereign wealth funds (SWFs) during a special meeting with the US ...
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PropertyEU Archive
Grainger/Helical jv unveils mixed project in London
UK listed residential property company Grainger has said its joint venture vehicle with property development and investment group Helical Bar has exchanged contracts with the London borough of Hammersmith & Fulham for a major mixed use development. The planned development is in an area around Hammersmith Town Hall and Grainger ...
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PropertyEU Archive
EPI Russia 1 acquires St Petersburg business centre
Finnish real estate fund EPI Russia 1 has acquired the Kellerman business centre in St Petersburg. The total value of the investment is expected to amount to some EUR 150mln after the development potential in the property has been realised, Finnish bank Evli said in a statement issued earlier this ...
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PropertyEU Archive
Central London jv arranges EUR 288m financing
Great Capital Partnership (GCP), the central London joint venture between Great Portland Estates and Liberty International, has arranged a £225mln (EUR 288mln) credit facility to fund asset repositioning and investment projects.
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PropertyEU Archive
BAA, Morley sell airport assets for EUR 340m
The Airport Property Partnership (APP), a 50-50 joint venture between British airport group BAA and clients of Morley Fund Management, has agreed to sell a portfolio of 33 property assets to private airport hotel group Arora Family Trust for £265mln (EUR 340mln).
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PropertyEU Archive
Eurasia-Ukraine gets EUR 75.6m refinancing of Kiev acquisition
Kiev-based company Eurasia-Ukraine has received a EUR 75.6 mln loan from German property lender Eurohypo to refinance the acquisition of the Iceberg Business Centre in Kiev. Eurasia-Ukraine purchased the business centre in May 2007 for EUR 104 mln.
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PropertyEU Archive
JLL advises on first retail investment transaction this year in Russia
Jones Lang LaSalle announced on Tuesday that it advised London & Regional Properties on the sale of two shopping centres in Moscow to Finnish property group Sponda earlier this month.
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PropertyEU Archive
Emaar Properties seeking bargains in Europe and US
Dubai-based developer Emaar Properties is seeking investment opportunities in Europe and the US, where property prices have become 'attractive', according to a report on news agency Reuters. 'A property whose price was $100 in the US now costs $10 and we expect it to become $5,' Emaar Properties chairman Mohamed ...
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PropertyEU Archive
Colliers International Poland becomes partnership
Colliers International Poland has changed its company structure to a partnership as part of an expansion process. After 11 years in Poland, Colliers is now managed by 12 partners. 'The introduction of the partnership model is also a moment for setting new goals for the company,' the proeprty adviser said.
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PropertyEU Archive
French throw weight behind EPRA's EU REIT group
The European Public Real Estate Association (EPRA) announced on Tuesday that the listed French property industry has decided to back EPRA's campaign to lobby for a tax-efficient pan-European real estate investment trust (REIT).
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PropertyEU Archive
Nordic pension funds to bulk up on non-listed real estate
Some 59% of pension funds in Norway, Sweden and Denmark plan to increase their holdings in non-listed real estate over the next five years, according to a survey put together by Lymos BV Real Estate Capital Advisors. The average planned increase in investment allocations to the sector was 12%. ...
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PropertyEU Archive
Nanette buys into first Ukrainian project
London-listed residential real estate group Nanette has announced it has acquired a stake in its first development project in Ukraine. Nanette, which is registered in the Netherlands, is already active in Poland, Hungary, Croatia, and Romania. Nanette's announcement came on the same day as PIK Group, a Moscow-focused residential developer, ...
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PropertyEU Archive
PIK to expand to St Petersburg and Ukraine
Russian residential developer PIK is continuing to expand its focus from the Moscow region by entering St Petersburg and Ukraine. The London and Moscow-listed developer said its recently established business units, PIK Ukraine and PIK Northwest, will be responsible for identifying land for purchase, zoning, and construction in the new ...
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PropertyEU Archive
DTZ signs lease for 7,000 m[sup]2[/sup] in Hammerson London office development
UK real estate investment trust Hammerson and its joint venture partners GE Capital and Bank of Ireland said international real estate advisor DTZ has agreed to lease office space in their major development at 125 Old Broad Street in London. DTZ has signed a lease for 7,000 m[sup]2[/sup] ...
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PropertyEU Archive
British Land and Sainsbury's form £1.2bn jv
British Land, the UK real estate investment trust (REIT), and retailer J Sainsbury have created a 50-50 property partnership incorporating 39 superstores across the UK with a valuation of £1.2 bn (EUR 1.5 bn). The superstores subject to the partnership agreement are currently owned by British Land and leased ...
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PropertyEU Archive
Direct warehouse investment in Europe totals EUR 15bn - JLL
European direct warehousing investment totalled EUR 15bn in 2007, 12% down on 2006, but still the second strongest year on record, according to Jones Lang LaSalle's latest Distribution Warehousing Report. Volumes decreased by 35% year-on-year in the UK, Europe's largest warehousing investment market, to EUR 4.3bn.
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PropertyEU Archive
Ablon property value up 46% in 2007
AIM-listed Ablon Group said the estimated value of its property assets had risen 46% to EUR 617.4mln as of 31 December 2007 compared to the year earlier and pointed to a significant development land bank to support future growth. The company said it had 139,700 m[sup]2[/sup] of existing and income ...
