All Real Assets articles in Web Issue – Page 233
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PropertyEU Archive
IGD in EUR 182m Romanian shopping spree
Immobiliare Grande Distribuzione (IGD) has acquired 100% of Romania's shopping centre owner Winmarkt Magazine from Ivington Enterprises and Broadhurst Investment, two subsidiaries of US private equity group NCH Capital Group. The transaction volume comes to more than EUR 182mln. The deal was carried out via a 90/10 joint venture with ...
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PropertyEU Archive
GPT Halverton opens 2nd French office
Real estate investment manager GPT Halverton said on Monday that it has expanded its European presence with the opening of a new office in Lyon - its second office in France.
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PropertyEU Archive
Poland experiences record demand in 2007
Poland's property market experienced record demand in 2007, according to a report released by DTZ. The 435,000 m[sup]2[/sup] of take up on Warsaw’s office market was the highest ever recorded. Including renegotiations in the figure and overall take up was 491,500 m2, a 19% rise on the previous year. Strong ...
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PropertyEU Archive
GTC invests EUR 40m in new Croatian shopping mall
Warsaw-listed real estate company Globe Trade Centre (GTC) is investing EUR 40mln to develop a shopping centre in the Croatian city of Osijek. The company's first shopping centre in Croatia, 'Avenue Mall Zagreb', was fully let months before opening, spurring GTC to press ahead with its plans to develop an ...
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PropertyEU Archive
Land Securities sells Clive House to Real IS for £65m
Land Securities has announced the sale of Clive House, Petty France, London, to Real IS for over £65 mln (EUR 82mln). The 7,896 m[sup]2[/sup] former Passport Office dates from the 1930's and was redeveloped for the Ministry of Justice in 2004/5, which holds a long-term lease with set annual rent ...
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PropertyEU Archive
BAA 'close to £700m deal with Prologis'
UK airports operator BAA is close to completing the £700mln sale of its industrial property portfolio to US distribution giant Prologis, the Sunday Times reported. A sale of BAA's non-core portfolio is seen as essential to re-finance the massive £10bn in debt incurred when Spanish infrastructure group Ferrovial acquired BAA ...
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PropertyEU Archive
DTZ's Valente to join Allianz real estate unit
Joe Valente, head of research at property advisor DTZ, is joining Allianz Real Estate where he will head the portfolio management and strategy division. 'We are very pleased that Joe Valente is joining our company', said Karl Ralf Jung, chairman of the board of Allianz Real Estate, in a statement. ...
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PropertyEU Archive
Prologis' retail business set to increase in CEE
As demand among retailers for new, well-located distribution facilities continues to increase in Central and Eastern Europe, Prologis' retail business is also growing in the region, and currently represents about 30% of the global provider's total portfolio, says Bert Angel, ProLogis' senior vice president of Global Services in Europe. Angel ...
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PropertyEU Archive
Natixis increases stake into Colonial
Dublin-based Nexgen Capital, a subsidiary of French bank Natixis, has bought 50 million shares in Spanish property giant Inmobiliaria Colonial from its former chairman Luis Portillo. The buy brings the bank's stake in Colonial to 5.4%, representing a total 88.3 million shares, the French bank said in a statement to ...
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PropertyEU Archive
Pinnacle expands to Poland
Pinnacle Polska has sealed its first deal in Poland with the acquisition of a 35-hectare site zoned for warehouse development in Gadki, near Poznan. The financial details of the transaction were not disclosed. Jones Lang LaSalle acted for Pinnacle.
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PropertyEU Archive
French property returns remain resilient, says IPD
IPD said that its French Property Index showed a total return of 17.8% for 2007, a drop compared to the previous year's result of 21.9%, but still impressive over the history of the index. Property outperformed the equity and bond markets in 2007, which returned 5.1% and 1.8% respectively.
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PropertyEU Archive
Inrev implements leaner management structure
The European Association for Investors in Non-listed Real Estate Vehicles (Inrev) has announced a major shake-up of its structure. The changes include introducing a leaner management structure, extending voting rights for members and a potential expansion of its activities. Measures for the new initiatives were approved at Inrev's annual general ...
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PropertyEU Archive
King Sturge to open new office in Poland
King Sturge has announced it is opening a new office in the centre of Katowice, the capital of Poland's Upper Silesia region, later this month. The property adviser said it expects to benefit from the huge potential of the regional real estate market of Upper Silesia, the most industrialised and ...
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PropertyEU Archive
Letterstone and Starr set up EUR 1bn CEE investment fund
London-based fund manager Letterstone Group and private investment company Starr International have established a new European company to invest up to EUR 1bn in real estate developments in Hungary, Slovakia and Romania. The vehicle will also invest in Ukraine at a later stage.
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PropertyEU Archive
Renta Corporación sells Paris office for EUR 30m
Spanish property company Renta Corporación has sold one building in the centre of Paris to an unnamed Dutch fund. The transaction amount comes to between EUR 25 - 30 mln, Spanish newspaper Cinco Dias reported. The Paris asset provides a total 3,000 m[sup]2[/sup] of office space spread across five storeys ...
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PropertyEU Archive
Lazard Group sells three offices for EUR 72m
UFG has acquired three office developments from the Lazard Group for a total EUR 72 mln, French newspaper Business Immo reported. The projects are the Carnot Plaza development, which on completion will provide about 8,400 m[sup]2[/sup] of office space in Massy, near Paris, another 7,500 m[sup]2[/sup] of office space in ...
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PropertyEU Archive
Commerz Real expands French portfolio with two acquisitions
Dusseldorf-based Commerz Real, a subsidiary of Commerzbank, has acquired the office complexes Ar Mor Plaza in St Herblain near Nantes and Parc Cezanne 1 in Aix-en-Provence for a total amount of EUR 50 mln from French real estate company Groupe Lazard. The two modern office complexes will be added to ...
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PropertyEU Archive
Russian investor buys Austrian hotel chain AHC
Central European Hotel Investment Company (CEHI), an investment vehicle owned by Russian private investor Alexander Klyachin, has acquired hotel chain Austrian Hotel Company (AHC) for an undisclosed amount. The chain comprises 20 three- and four-star hotels in 17 cities in Austria, Germany and the Czech Republic. The acquisition is in ...
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PropertyEU Archive
Orco to build Croatian island tourist resort
Orco Property Group, through its subsidiary Suncani Hvar, has signed an agreement to develop the Objonan Riviera project. As the only island in Croatia fully dedicated to the construction of a new resort, the 54-hectare Objonan will provide Orco with the site of a full-fledged resort to be developed on ...
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PropertyEU Archive
SLI fund enters Italy with warehouse buy
Standard Life Investments (SLI) has entered the Italian market with the acquisition of a 104,000 m[sup]2[/sup] logistics warehouse development at Rolo in Northern Italy. The property investor said it has joined forces with Panattoni Europe to acquire the development, which has a total end value of more than EUR 567 ...
