All Real Assets articles in Web Issue – Page 235
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PropertyEU Archive
SLI signs agreement with Nordea Group in the Nordics
Standard Life Investments (SLI) has signed an agreement with Nordea, one of the biggest financial groups in the Nordic and Baltic regions, to distribute its Global REIT Focus Fund across the region. The Global REIT Focus Fund (SICAV) invests largely in real estate investment trusts (REITs) or securities and companies ...
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PropertyEU Archive
Bank of Scotland buys into Tulloch Homes
Bank of Scotland Corporate, part of HBOS, has acquired a 40% stake in Tulloch Homes Group in a deal worth £27.5mln (EUR 34mln). Following the transaction, Tulloch's chairman and chief executive David Sutherland will remain the company's largest shareholder with a 43% interest. 'The deal represents a significant development in ...
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PropertyEU Archive
Skanska to build major London office
Swedish construction group Skanska has been contracted by UK developer Minerva to build a large office building in the City of London for £150 mln (EUR 187mln). The St Botolphs project involves a new 14-storey office and retail development that will provide approximately 52,000 m[sup]2[/sup] of high-quality accommodation. The project ...
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PropertyEU Archive
C&W to market new building at Moscow's WTC
Cushman & Wakefield's Russian office has been retained as exclusive marketing and leasing agent for a new Class A office development that is part of Moscow's World Trade Center business complex. The developer of the complex's third office building is also called World Trade Center. The 29-floor building has a ...
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PropertyEU Archive
Park Plaza buys stake in Croatian hotel owner
Hotel owner and operator Park Plaza has acquired a 20% stake in hospitality firm WM/DMREF Bora B.V. (Bora) from a group of real estate investment funds managed by Goldman Sachs. The takeover sum comes to EUR 22mln. As part of the transaction, Park Plaza is also acquiring 20% of the ...
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PropertyEU Archive
Standard Life sells to Middle Eastern investor
A private Middle Eastern investor has purchased 55 New Oxford Street in London from Standard Life for £35.5mln (EUR 44mln), reflecting a net initial yield of 6.09%. The property was originally marketed in November at £43.2mln.
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PropertyEU Archive
New Europe Property shops in Germany
Listed CEE property investor New Europe Property Investments has purchased 50% of a portfolio comprising four retail centres, a medical office facility and a mixed-use retail and residential property from an unnamed seller. The transaction amount comes to EUR 17mln, net of acquisition costs and including EUR15mln of debt. The ...
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PropertyEU Archive
Savills steps up presence in Poland
Property consultant Savills has expanded its presence in Poland with the opening of new offices in the cities of Poznan and Wroclaw. The offices will comprise office agency and property management teams, who will be working on their first assignments in each of the cities. 'Wroclaw and Poznan are two ...
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PropertyEU Archive
UK commercial property capital values fall 4.5% in Q1
The capital value of UK commercial property fell by 4.5% in the first quarter of 2008 and is now 14.9% lower than this time last year, according to the April index from CB Richard Ellis
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PropertyEU Archive
Invista REIM takes 100% control of Invista Capital
UK listed real estate fund manager Invista REIM said it has acquired the 50% stake it didn't already own in residential property company Invista Capital Limited from its joint venture partner, Bank of America, for £26mln (EUR 32.5mln) in cash.
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PropertyEU Archive
Top deals of Week 15 (7-11 April 2008)
The largest deal of week 15 was the agreement by Italian bank UniCredit to sell 186 branches to a consortium led by Banca Popolare di Milano (BPM) for EUR 747mln.
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PropertyEU Archive
14 Rema supermarkets sold in Norway
Companies associated with Norwegian wholesaler and retail franchiser Reitangruppen have sold two portfolios of supermarkets to private investors for an undisclosed sum. Heilo Eiendom, the Norwegian associate of property adviser Savills, acted for the vendors.
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PropertyEU Archive
Direct RE investment to drop 30% in 2008, JLL predicts
Global direct real estate investment is expected to fall over 30% in 2008 from the record level set in 2007, Jones Lang Lasalle has predicted in its latest report on global real estate capital. Investment volumes last year rose 8% to $759 bn (EUR 480 bn), but in 2008 the ...
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PropertyEU Archive
Pramerica fund acquires property in Portugal and Chile
Pramerica Real Estate Investors has acquired two project developments in the Portuguese capital Lisbon and in Chile on behalf of its open-ended fund, TMW Immobilien Weltfonds. The financial details were not disclosed.
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PropertyEU Archive
BA appoints Cushman & Wakefield as adviser outside UK
British Airways has appointed Cushman & Wakefield as its exclusive real estate adviser for the airline's portfolio outside the UK. The appointment is for an initial period of three years from October 2007.
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PropertyEU Archive
Aldar eyes investments in UK property companies
United Arab Emirates property company Aldar is examining the possibility of investing in some of the UK's largest quoted real estate developers, according to a recent report in The Times. According to the newspaper, the Abu Dhabi-based Aldar is eyeing developers like Hammerson, Land Securities and British Land, with ...
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PropertyEU Archive
H&M ranked as top performing European retail brand
Sweden-based apparel retailer H&M has topped the first ever ranking of Europe's top performing retail brands by brand value carried out by consultancy Interbrand. H&M came in with a brand value of EUR 10.4bn while other top performers in the ranking of 25 brands included the French-owned Carrefour (EUR 6.6bn), ...
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PropertyEU Archive
Henderson secures major pre-let or New Brook development
Henderson Global Investors said it has secured a major pre-let agreement for its New Brook Buildings office redevelopment near Covenant Garden in London, with a 17-year lease covering 51,400 sq ft (4,738 m2) with law firm Fladgate.
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PropertyEU Archive
IVG sells non-strategic German portfolio to CIT Europe
German listed property company IVG Immobilien said it has sold a German real estate portfolio consisting of nine properties to London-based real estate private equity investor CIT Europe for EUR 91mln. IVG said the properties were sold because they were too small for its investment portfolio, with individual sales prices ...
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PropertyEU Archive
Glitnir exiting commercial property financing
Icelandic bank Glitnir has announced it is exiting its commercial property financing business based in Luxembourg as part of a major realignment of the group's corporate banking operations in Europe. Glitnir said running down a substantial part of its real-estate loan portfolio in Luxembourg would entail repayment of outstanding real-estate ...
