All Real Assets articles in Web Issue – Page 232
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PropertyEU Archive
Grainger to acquire 85% of FranconoRheinMain
The German subsidiary of UK property company Grainger said on Thursday that it has received acceptances of its tender offer representing about 85% of the share capital of Frankfurt-listed residential property company FranconoRheinMain.
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PropertyEU Archive
Jelmoli confirms Pelham takeover approach
Swiss retailer Jelmoli on Thursday confirmed it had received an initial approach by its majority shareholder Pelham Investments, which may or may not lead to a public offer. The statement came after media speculation that Pelham, the investment vehicle of Swiss billionaire Georg von Opel, was looking to make an ...
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PropertyEU Archive
ECE to build Volga Mall in Russia
ECE Projektmanagement, the German inner-city shopping centre specialist, has announced it is to build a modern shopping centre, comprising 60,000 m[sup]2[/sup] of gross lettable area, in the Russian city of Togliatti in the.
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PropertyEU Archive
European property indices dip into red in March
European real estate stocks moved into the red – on a composite level - for the first time in 2008, according to the GPR 250 Europe Index and the EPRA/NAREIT Europe Index. Global Property Research (GPR) reported an overall dip of 1.6% for European property stocks, adding that the ...
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PropertyEU Archive
Unibail-Rodamco eyes growth in Russian market
French-Dutch property giant Unibail-Rodamco is seeking to build up mass in the retail property sector in Moscow by putting together a portfolio of 3-4 shopping centres in the city, CEO Guillaume Poitrinal told journalists in Paris on Wednesday. Noting that the property fundamentals are sound in the Russian capital, Guillaume ...
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PropertyEU Archive
IPD: Swedish residential property performance plummets
The Investment Property Databank (IPD) has said that total returns in its 2007 Swedish Residential Property Index posted a massive 5.7% drop in 2007, falling to 9.4% from 15.1% in 2006. The index underperformed the commercial property market, which returned 14.9% for the year, but outperformed Equities and Bonds in ...
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PropertyEU Archive
Unibail-Rodamco opens refurbished Les Quatre Temps mall
Unibail-Rodamco celebrated the opening ceremony this week of new areas in Les Quatre Temps shopping centre at La Defense, near Paris. After four years of extensive refurbishment of the mall, the Dutch-French property group said 15,000 m[sup]2[/sup] of new retail space has been added to Les Quatre Temps, France's second ...
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PropertyEU Archive
Delta purchases Belgrade hotel, other properties for EUR 149m
NBGP Properties, a subsidiary of Serbian property firm Delta Real Estate, said it has purchased the Hotel Continental and other properties owned by International CG (Genex) in Belgrade for EUR 148.8 mln through a public tender. Properties purchased include the hotel, along with apartments, business facilities and tennis courts comprising ...
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PropertyEU Archive
Multi chosen for EUR 170m retail project in Portugal
Multi Development Portugal and Portuguese construction group Lena have been chosen to design, finance, build and manage a major retail development in the city of Leiria, Portugal. The consortium was chosen by the town council following an international tender process.
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PropertyEU Archive
ING UK Real Estate sells 2 properties for £34m
ING UK Real Estate (IRET), the UK property arm of Dutch financial group ING, has sold two properties for a total of £34 mln (EUR 44 mln). The first asset sold by the Guernsey-registered closed investment fund involved retail property comprising a Tesco Supermarket and adjoining retail units covering a ...
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PropertyEU Archive
Poland's investment market posts 40% drop in 2007
Property investment dropped by 40% in Poland last year to EUR3bn, according to a new research report released by King Sturge on Friday. Activity was lower due to the credit crunch, with banks more hesitant to provide financing than that in previous years and requiring reduced loan-to-values and higher margins, ...
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PropertyEU Archive
Rider Levett oversees £30m refurbishment for UK pub operator Young’s
Property and construction consultancy Rider Levett Bucknall said it has been appointed to manage a £30 mln (EUR 38mln), three-year refurbishment programme at Young's, the oldest brewer in the UK. Young's has earmarked 18 of its 'inns with rooms' sites, each which will have extensions to accommodate between 15 and ...
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PropertyEU Archive
Gecina acquires 4 logistics centres in France
Listed French property company Gecina said it has acquired four logistics properties, with a total surface area of nearly 76,000m2, in France for an undisclosed price. The logistics centres were all part of a sale-and-leaseback operation with the French subsidiary of electrical equipment equipment distributor Rexel.
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PropertyEU Archive
WDP acquires logistics sites in Belgium and France
Warehouses De Pauw (WDP) has acquired two logistics sites in northern France and Belgium through sales-and-leaseback transactions for a combined investment of EUR 21mln. The Belgian closed-end real estate investment company said it has also reached agreements with new tenants for two other projects under development.
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PropertyEU Archive
Universal Exposition to boost Milan developments
Milan has been was chosen to host the 2015 Universal Exposition, a victory expected not only to lead to new architectural and infrastructure projects but also give a push to a number of high-profile developments already underway in Italy's finance and fashion capital.
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PropertyEU Archive
Fidelity buys German property
Fidelity International said its Pan-European Real Estate Fund has made its first investment in Germany with the acquisition of a Munich office building for EUR 17.85mln. Fidelity said the purchase price for the building, which is fully let to Olympus Life Science Research Europa, reflects a yield of 5.9%. The ...
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PropertyEU Archive
Nozar, Portillo to sell Colonial stakes to creditors
Nozar, the investment vehicle of the Nozaleda family, is selling a 7% stake in Colonial to the banks of the troubled Spanish company. Nozar, which has a 12.25% stake in Colonial, is selling the assets to cut down a EUR 460 mln of debt it holds with Natixis, RBS, Gaesco, ...
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PropertyEU Archive
Sistema-Hals to sell Moscow project
Russian property group Sistema-Hals has announced the sale of its 22 Rochdelskaya project in central Moscow. The company said that the move is part of its ongoing asset management strategy. 'Detailed analysis of the development pipeline indicates that it would be more cost effective to invest the funds received from ...
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PropertyEU Archive
Vastned Retail abandons portfolio sell-off
Vastned Retail has suspended efforts to sell part or all of its EUR 2bn portfolio of European retail property assets. The Netherlands-listed property company said discussions over the last month with a number of third parties had not led to a definitive agreement on a sale of the total portfolio ...
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PropertyEU Archive
Central London Q1 Investment volumes lowest in three years
Investment volumes in Central London in the first quarter of 2008 reached their lowest level in three years at only £ 2.83 bn (EUR 3.58 bn) according to the latest Central London investment market figures from Cushman & Wakefield. The impact of the credit crunch is the main cause of ...
