All Real Assets articles in Web Issue – Page 23
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PropertyEU Archive
Spanish builders win EUR 60 mln rail contract
A consortium, led by Spain property groups FCC, Sacyr and San Jose, was awarded contracts worth EUR 59.41 mln for the development of Zaragoza's high speed rail link in Southern Spain. The construction company FCC has been awarded the largest contract, which amounts to EUR 29.74 mln, by the ...
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PropertyEU Archive
Aareal makes 'double-digit' profit on Interhotel sale
Interhotel, which operates 250 hotels throughout France, is to sell its properties in a deal that will generate a 'double-digit million euro' profit for Aareal Bank, holder of a 33% stake in the hotel group.
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PropertyEU Archive
Carpetright rolls out across Europe
Carpetright has confirmed it is planning major expansion in Europe, either through acquisitions or by direct openings of new stores. Lord Harris, the chairman of Europe's largest floor covering group, unveiled the strategy as he reported profits were up 17% to £26 mln (EUR 38.6 mln) for the first half ...
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PropertyEU Archive
Milan Bank to merge with Italian property company
Banca Popolare di Milano has announced the takeover of the property arm of Bipiemme bank, conditional on acquisition of a 9.11% stake in the property company's capital, Italian Newspages Realestate reported. These shares are currently owned by peer Banca di Legnano. The operation is likely to be successful since Legnano ...
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PropertyEU Archive
Befimmo signs up for first Luxembourg project
Belgium's Befimmo is making its first investment in Luxembourg with a deal for the purchase of the shares in Axento, a company that owns an 'upmarket' office and retail real project on the Kirchberg Plateau in the north-east of Luxembourg City.
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PropertyEU Archive
BNP Paribas exercises Klemurs over-allotment option
BNP Paribas bank has fully exercised the over-allotment option arising from the IPO of French property company Klemurs last week, resulting in the purchase of 73.125 existing shares sold by Klemurs' parent, Klepierre. The total number of Klemurs shares offered stands at 560,625 and increases the value of the ...
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PropertyEU Archive
Sacyr may yet sell Eiffage stake in seat dispute
Spanish property development company Sacyr Vallehermoso may sell its 32,1% stake in French builder Eiffage due to the latter's refusal to offer the Sacyr a seat at the board table, according to the business website elConfidencial.com.
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PropertyEU Archive
Former HSBC exec launches RE investment firm
Former executives of HSBC and Jones Lang LaSalle have established a new real estate investment bank. The founding partners of Lowndes Partners in London are Maxwell James, Richard Choi and Julie Green.
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PropertyEU Archive
DIC Asset raises EUR 185 mln in share issue
German real estate company DIC Asset AG has raised about EUR 185 mln by issuing 8.16 million new shares, increasing the company's share capital from EUR 20.34 mln to EUR 28.5 mln. The subscription ratio for the 8.16 million new shares was 99.96%.
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PropertyEU Archive
2006 record year for German deals
Single and portfolio transactions in the German real estate sector are expected to reach a record EUR 42 bn this year, almost double the EUR 24 bn in deals in 2005, according to Andreas Volker, managing director of Atisreal Consult.
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PropertyEU Archive
Mirland raises EUR 213 mln in IPO
Mirland Development Corporation, the Cypriot-based real estate company, expects to raise £143.4 mln (about EUR 213 mln) through an initial public offer of 30 million new shares in London. The price is 478p per share. Trading in the shares on the Alternative Investment Market (AIM) is expected to begin on ...
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PropertyEU Archive
WTC Stockholm sold for EUR 332 mln
Swedish pension company Alecta has bought the World Trade Centre in Stockholm from property company Hufvudstaden. Alecta paid SEK 3 bn (about EUR 332 mln) for the shares in Vasaterminalen, Hufvudstaden's subsidiary which owns and runs the WTC centre and TWC Parkering.
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PropertyEU Archive
SFL sells Paris property for EUR 42 mln
Societe Fonciere Lyonnaise (SFL) has sold a mixed-use property in Paris to real estate company Norfeu for EUR 42 mln. The 6,770 m[sup]2[/sup] building in the 17th arrondissement (district) of the French capital has retail, office and residential units. It generates an annual rent of EUR 1.8 mln.
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PropertyEU Archive
Africa-Israel building in Romania and Moscow
AFI Europe has announced it intends to build a 50,000 m[sup]2[/sup] shopping mall on a 8-hectare plot of land it has acquired in the western Romanian city of Arad. The mall, scheduled to open in 2009, is the latest in a series of projects AFI Europe has in Romania. In ...
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PropertyEU Archive
AM seeks to beef up in Randstad with takeover
Dutch developer AM has announced it has signed a letter of intention for the takeover of peer De Wilgen Vastgoed in a move designed to strengthen AM's position in the Randstad conurbation in the west of the Netherlands. AM, which is a developer of homes, town centres, malls and offices ...
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PropertyEU Archive
Israeli firms plan apartments in Romania
Jerusalem-based YH Dimri Construction & Development is to buy a Romanian real estate company that owns a 2.5-hectare plot of land in Bucharest for 660 apartments. Globes online said Dimri has signed a preliminary agreement to buy the firm and it is now seeking partners to acquire up to 40% ...
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PropertyEU Archive
Italy moves closer to approving 'REIT' legislation
Italy's Senate is to approve REIT legislation through the Finanziaria, the state annual budget, before the end of the week, Italian newspaper IlSole24Ore has reported. In November, the lower chamber 'Camera dei Deputati' drafted the 2007 budget law, containing an amendment over the SIIQs, the real estate investment trusts.
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PropertyEU Archive
ULI seeks entries for Europe excellence awards
The Urban Land Institute (ULI) has issued a call for entries for its 2007 Awards for Excellence in development projects in both the public and private sectors in Europe, the Americas and the Asia Pacific region.
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PropertyEU Archive
BBI Burgerliches Brauhaus to be REIT
BBI Burgerliches Brauhaus is likely to be listed as a German real estate investment trust (REIT) in the medium term, researchers at merchant bank Kempen & Co noted as Bavaria's VIB Vermogen announced it had reduced its holding in the company based in Ingolstadt, Germany from 94.45% to 28.63%. Germany ...
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PropertyEU Archive
Interesting Vastgoed buys two office properties
Interesting Vastgoed, a Dutch real estate company, has acquired two office properties in Almere and Capelle aan den IJssel in the Netherlands for a total investment volume of EUR 44 mln. The building in Almere, with about 12,000 m[sup]2[/sup] of lettable area, is entirely let to USG People. It has ...
