All Real Assets articles in Web Issue – Page 230
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PropertyEU Archive
Plaza Centers 2007 pretax profit soars on asset sales
Following asset disposals in Hungary and Poland, emerging markets property developer Plaza Centers said its pretax profit rose to EUR 227 mln in 2007 from EUR 13.7 mln in the year earlier. The company said funds from asset disposals would also allow it to pay out its first dividend of ...
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PropertyEU Archive
Norwegian property posted another strong year in 2007, IPD says
Norwegian property turned in a strong year in 2007, IPD said, with the Norwegian Annual Index posting a total return for the year of 18.3%. That is the highest return since the index began in 2000 and represents an increase of 0.7% on 2006. Property outperformed both equities and ...
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PropertyEU Archive
Realia buys Madrid office for EUR 38m
Spanish property company Realia has acquired the headquarters of BP Oil in Madrid for over EUR 38 mln. Located in the Arroyo de la Vega business park, the property is entirely let to BP Oil through 2011 for an annual rent of EUR 1.9 mln. It consists of 8,856 m[sup]2[/sup] ...
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PropertyEU Archive
Mapeley ends talks with suitor after refinancing completed
UK property investment and outsourcing company Mapeley said on Friday it had ended talks with an unnamed suitor after it successfully refinanced £257 mln (EUR 325 mln) in debt. Mapeley was reportedly in talks to be bought out by its majority shareholder, US hedge fund Fortress, although Fortress’ involvement was ...
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PropertyEU Archive
BNP Paribas buys Le Nadir office complex
BNP Paribas REIM has acquired Le Nadir office complex located in the new development district of Saint-Herblain, in the Pays de la Loire region of France. Developed by Bati-Nantes, the scheme comprises three parts with a total leasable area of 6,000 m[sup]2[/sup] and 148 parking spaces.
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PropertyEU Archive
UK pubs group Enterprise Inns sees REIT go-ahead
UK-based Enterprise Inns, the operator of 7,700 tenanted pubs, on Friday unveiled corporate restructuring proposals it said should facilitate its plans to convert to tax-efficient real estate investment trust (REIT) status. Should Enterprise Inns convert into a REIT, it would be the first pub group to do so and would ...
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PropertyEU Archive
Portuguese property returns remain stable, says IPD
IPD said that its Portuguese Property Index, Imométrica, returned 12.4% last year, the highest total return since 2002. The figure represents a slight increase on the 12% return reported at the end of 2006. Over full-year 2007, the 12.4% total return on property significantly outperformed bonds which had a total ...
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PropertyEU Archive
Risanamento puts EUR 1b portfolio on market
Italy's leading property company Risanamento is putting a EUR 1 bn property portfolio up for sale as it struggles to refinance its debt. The property firm, which is headed by Luigi Zunino, has appointed banks Intesa Sanpaolo and Mediobanca to sell its trading portfolio consisting of 30 commercial assets in ...
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PropertyEU Archive
Conwert posts record growth in 2007
Vienna-listed Conwert Immobilien Invest posted record levels for all company indicators in the 2007 financial year. The company’s property assets increased
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PropertyEU Archive
Dutch revival in 2007 'surpassed expectations' - DTZ
The credit crisis had little or no discernible affect on the end-users market in the Netherlands for commercial real estate, according to by property advisor DTZ. On the contrary, office and business space in the Netherlands was in significant demand last year thanks to consistent economic growth throughout the period. ...
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PropertyEU Archive
Prologis invests further EUR 91.7m in PEPF II
Prologis European Properties has announced a EUR 91.7 mln investment into Prologis European Properties Fund II (PEPF II). The private equity fund was established in August 2007 to acquire assets from Prologis' European development pipeline as well as conforming third-party assets. Funded from existing credit facilities Prologis’ total investment in ...
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PropertyEU Archive
IVG Funds acquires office park near Helsinki
IVG Institutional Funds has acquired the Avia Line office park development in the Vantaa Aviapolis area, near Helsinki airport, from Finnish service provider YIT Rakennus Oy for about EUR 30 mln. The total size of the premises is approximately 9,000 m[sup]2[/sup]. The project consists of three office buildings of approximately ...
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PropertyEU Archive
Canada Life acquires Dusseldorf office property
The Canada Life Assurance Company has purchased the Breite Strasse 3HOCH5 office building in Dusseldorf’s banking quarter for an undisclosed sum. The seven-storey building, comprising 6,500 m[sup]2[/sup] of office and retail space, was sold by investors Momeni Project Development, the NPC Group und HCI Developmentfonds I. The net initial yield ...
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PropertyEU Archive
JLL appointed as lead agent for Warsaw's Europa Park
Europa Distribution Center (EDC) has appointed property adviser Jones Lang LaSalle as the lead agent for Europa Park near Warsaw, one of the largest logistics locations in Central and Eastern Europe.
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PropertyEU Archive
Commerz Real buys Amsterdam property from Fortress
German real estate investor Commerz Real signed the deed for the purchase of De West development in Amsterdam from Dutch project developer Fortress. Once completed in the latter part of this year, the 11,000 m[sup]2[/sup] multi-functional office property will be added to the portfolio of the Euro Property 1 institutional ...
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PropertyEU Archive
Herpain Urbis sells the Solaris in Brussels
Herpain Urbis has sold the Solaris in Brussels to Fidentia Real Estate Investments’ specialised investments vehicle Fidentia Green Buildings. CB Richard Ellis (CBRE) advised the vendors. The Solaris represents a new trend in sustainable building. Designed by architectural firm Assar, the building is scheduled for completion in the first ...
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PropertyEU Archive
XXI Century opens Kiev shopping centre
AIM-listed Ukrainian property company XXI Century Investments has announced the opening of its Kvadrat Perova shopping centre in the densely populated Kiev district of Voskresenka. Consisting of 19,000 m[sup]2[/sup] of commercial space and 41,000 m[sup]2[/sup] total area Kvadrat Perova is the company's first completed hypermarket gallery format shopping and entertainment ...
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PropertyEU Archive
Lone Star agrees EUR 1bn leaseback deal with Deutsche Post
US investor Lone Star has reached an agreement to buy a portfolio of 1,300 real estate assets from Deutsche Post World Net in a cash transaction worth EUR 1bn. Most of the assets are in Germany. Deutsche Post World Net said it was divesting the real estate assets as part ...
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PropertyEU Archive
Deka buys London office for £113m
Deka Immobilien, the property arm of Germany's Deka Bank, has acquired 50 Finsbury Square, London from Standard Life Investments for approximately £113mln (EUR 143mln), reflecting a net initial yield of around 5.5%. The acquisition was Deka's first in the UK for almost three years.
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PropertyEU Archive
Commerz Real acquires office development in France
German property investor Commerz Real has signed a deed of purchase for the Porte de Clichy office development in the Ile de France region of France. The total investment volume amounts to EUR 87mln.
