All Real Assets articles in Web Issue – Page 234
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PropertyEU Archive
Vastned Retail resumes talks with IEF Capital
Vastned Retail said on Tuesday that its management board has decided to resume discussions with IEF Capital on the basis of the indicative bid of at least EUR 70 per share, after final dividend for 2007. In a statement, Vastned said that it will be in 'exclusive talks' with IEF ...
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PropertyEU Archive
Whitbread to open six new Premier Inns in London
Whitbread, the UK's largest hotel and restaurant group, has unveiled an expansion plan for its Premier Inn brand that will see six hotels opened in London over the next three years. The hotels will comprise a total of 1,200 rooms and investment will be £ 100 mln (EUR 125.5 mln).
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PropertyEU Archive
IPD: Spanish property performance slows
IPD said its Spanish Property Index showed a total return on All Property of 12.5% for 2007, lower than the 2006 return of 16.9%. However, property still outperformed the equity and bond markets in 2007, which returned 10.7% and 1.7% respectively. All Property income returns fell to 4.8% in 2007, ...
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PropertyEU Archive
NB launches sustainable property management services
Commercial property consultancy NB Real Estate has responded to the demand for Energy Performance Certificates (EPCs) by launching NB Environment to develop sustainable property management plans and environmental policies for investors and corporate occupiers. Among the services provided by NB Environment are a response to the requirement for Energy Performance ...
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PropertyEU Archive
Ikea to invest EUR170m in first Portuguese mall
Inter Ikea Centre Portugal (IICPT), part of the Ikea Group, will invest up to EUR 170mln in the development of the Matosinhos shopping centre in Porto, Portugal. The retail project, scheduled to open in the third quarter of 2008, will offer more than 100,000 m[sup]2[/sup] of retail area on two ...
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PropertyEU Archive
Miller sees profit fall 7% in 2007
UK house builder Miller Group said on Wednesday that group profit before tax dropped 7% in 2007 to £81.2mln, due to lower housing volumes, higher average borrowings and increased debt charges. This resulted in the interest cost being 15% higher than last year, Miller said in a statement. In the ...
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PropertyEU Archive
HSH provides EUR 205m financing for Hamburg mall
North German lender HSH Nordbank said it is providing EUR 205mln to a joint venture between ECE Group and Hermann Friedrich Bruhn Group to finance the acquisition and restructuring of the Hamburger Strasse shopping mall in Hamburg-Barmbek.
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PropertyEU Archive
Sacyr sells 33% stake in Eiffage
Spanish construction company Sacyr Vallehermoso has agreed to sell its one-third stake in French rival Eiffage to local institutional investors for EUR 1.96bn, or EUR 63 per share. The sale, which ends a year-long battle for control of Eiffage, will be completed 'as soon as possible', Sacyr said in a ...
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PropertyEU Archive
Banca Italease hires Lazard to sell EUR 400m of assets
Italy's Banca Italease has hired investment bank Lazard to market the sale of its real estate portfolio worth some EUR 400mln. The properties are part of Italease's non-strategic portfolio and consist of buildings and land in several Italian cities, including Rome and Milan, according to Italian media.
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PropertyEU Archive
C&W acquires alliance partner in Turkey
Cushman & Wakefield has acquired its alliance partner in Turkey, P&D Real Estate Consultants, as part of the global property adviser's European expansion. Istanbul-based P&D was founded in 1988 and became C&W's partner in the Turkish market three years later. P&D's managing director Rahsan Cebe will become a partner of ...
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PropertyEU Archive
Eric Donnet to head AEW Europe
AEW Europe, the property arm of Natixis Global Asset Management, said on Wednesday that it has appointed Eric Donnet as managing director and chief operating officer. Donnet has been head of asset management at AEW Europe since 2005.
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PropertyEU Archive
Cushman appointed exclusive agent for Moscow hotel, Strazhi Urala complex
Cushman & Wakefield Hospitality, part of global property adviser Cushman & Wakefield (C&W), announced on Wednesday that it has been appointed as exclusive real estate adviser by a local developer for a proposed luxury hotel development in central Moscow. The site is located at Bogoyavlensky Pereulok in the heart of ...
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PropertyEU Archive
Jelmoli unveils break-up plan
Swiss retailer Jelmoli announced on Tuesday that it intends to split the company's real estate and investment businesses into two independently listed companies. Jelmoli said the separation is a result of the company's strategic review announced in December. 'We have undertaken a thorough strategic review of our business and, together ...
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PropertyEU Archive
Commerz Real invests in Portugal
Commerzbank's fully-owned real estate unit Commerz Real has bought an office property in Lisbon for EUR 20mln. The 'Studio Office Marquês de Pombal' building is earmarked for Commerz Real's ProCommerz institutional fund. The downtown property offers a net lettable area of 4,500 m[sup]2[/sup] plus 57 underground parking spaces. Completely refurbished ...
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PropertyEU Archive
UK Development Agency mulls launch of £1b fund
The East of England Development Agency (EEDA) is considering launching a £ 1bn infrastructure fund to accelerate the delivery of projects in the region. In a statement, EEDA said it has commissioned a team of consultants, led by Colin Buchanan and Hewdon Consulting, to work up options for the ...
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PropertyEU Archive
Colonial renegotiates EUR 1.55bn debt
Spain's Colonial said it is trying to renegotiate the conditions of EUR 1.55 bn in debt the company assumed when it acquired a stake in infrastructure firm Fomento de Construcciones y Contratas (FCC). In a filing with the Spanish stock market regulator CNMV, the debt-laden property company said that FCC's ...
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PropertyEU Archive
UniCredit agrees to sell 186 branches for EUR 747m
Italian bank UniCredit has agreed to sell 186 branches to a consortium led by Banca Popolare di Milano (BPM) for EUR 747mln, according to Italian newspaper Il Sole 24 Ore. BPM is acquiring 42 branches for about EUR 200mln, while other two banks, Banca Popolare dell'Emilia Romagna and Credito Emiliano, ...
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PropertyEU Archive
Citi Property Investors acquires Brixton Park
Citi Property Investors (CPI), through a Luxembourg SPV (special purpose vehicle), has acquired three logistics properties known as Brixton Park from Deka Immobilien for a 'middle-sized double-digit million figure'. The assets previously belonged to the open-ended public fund WestInvest I. Colliers Trombello Kölbel Immobilienconsulting advised the purchaser.
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PropertyEU Archive
Cordea Savills fund acquires office in Finland
Cordea Savills' Pan European Property Fund has acquired a 12,000 m[sup]2[/sup] office building in Finland for an undisclosed amount. The building, located in the city of Hyvinkaa, north of Helsinki, is entirely let to Finnish electric group Elektroskandia OY. The transaction reflects a net initial yield of 8,2%.
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PropertyEU Archive
AFI to build two shopping malls in Moscow
AFI Development said it is developing two new shopping centres in Moscow - Mall of Russia and Tverskaya Mall. The projects, totalling retail space of 300,000 m2, consist of a five-level shopping and entertainment complex, located in the centre of the Moscow International Business Center, and the Tverskaya retail complex, ...
