All Real Assets articles in Web Issue – Page 236
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PropertyEU Archive
IPD's Swiss index records high and low returns
The IPD/Wuest & Partner Annual Property Index recorded an all property total return at end-2007 of 7.1%. This a 2.2% increase on the 2006 return of 5.9% and the highest return in the six-year history of the index, the Investment Property Databank (IPD) said on Friday.
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PropertyEU Archive
Grosvenor announces record profits in 2007
Grosvenor has announced 2007 pre-tax profits of £524 mln (EUR 657mln), an increase of 3% on 2006. The total return of 14.4% represented a drop of 1.1% on the previous year. Total assets under management increased by 17% to £ 12.9 bn (EUR 16.2 bn) while balance sheet net asset ...
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PropertyEU Archive
Italian property returns up 8% in 2007 - IPD
IPD said its Italian Property Index showed a total return of 9.2% for 2007, an increase of 8.0% compared to the previous year and the second-highest rise in the history of the index. Property far outperformed the bond and equities markets in 2007, which returned 2.0% and -4.7% respectively.
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PropertyEU Archive
Hypo RE provides EUR 225m financing to CEIF
Hypo Real Estate Bank International has agreed to provide a EUR 225mln facility to refinance the entire real estate portfolio of Central European Industrial Fund (CEIF). CEIF is a Luxembourg fonds commun de placement (FCP), jointly managed by Morley and Valad Property Group. The CEIF portfolio comprises 21 industrial/warehouse assets ...
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PropertyEU Archive
Shamil Bank raises EUR 57m for Turkish real estate
Bahrain-based Shamil Bank has announced that it has met its investment target of $90mln (EUR 57mln) for a Shariah compliant fund targeting Turkey's property market. The Shamil Bosphorous Modaraba is projected to provide investment returns of 60% over three years. Investments will focus on residential and mixed-use real estate developments ...
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PropertyEU Archive
Stam buys French office-industrial portfolio for EUR 64m
Stam Europe has bought the Mosaique 5 real estate portfolio for € 64 mln from SCPIs (French UCITs) managed by UFG REM. The portfolio comprises a total of 55,000 m[sup]2[/sup] of office, light industrial and warehouse space located in the Paris region and other major French cities.
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PropertyEU Archive
RREEF acquires office property in City of London
A fund operated by RREEF, the property arm of Deutsche Bank, has acquired the 'Equitable House' office in the City of London for approximately EUR 40mln from the British financial and insurance company Prudential. The transaction reflects a net yield of 6.7%.
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PropertyEU Archive
Erinaceous goes into administration
Erinaceous has called in administrators after the struggling listed UK property services group failed to reach a refinancing agreement with its creditors.
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PropertyEU Archive
Alrov to develop luxury hotel in London's Regent Street
Tel Aviv-listed Alrov Group is to develop a 160-bed, five-star hotel at the Cafe Royal block on the southern end of Regent Street in Central London. The group, controlled by Israeli real estate businessman Alfred Akirov, signed a 125-year lease for Cafe Royal with The Crown Estate on Sunday.
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PropertyEU Archive
Barratt 'to sell commercial property arm'
UK-based housebuilder Barratt is expected to place its commercial property development division up for sale, according to a report from the Financial Times. The sale of Wilson Bowden Developments for a projected £250mln (EUR 313mln) would help offset the debt incurred on the £2.2bn (EUR 2.75bn) purchase of Wilson Bowden ...
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PropertyEU Archive
Brioschi's Milanofiori Nord sale collapses
Italian property company Brioschi Sviluppo Immobiliare said on Monday that the sale of its Milanofiori Nord project to Polis Fondi Immobiliari has fallen through due to changed conditions in the real estate market. Brioschi and its minority partner in the project, Bastogi, had agreed in December to sell Milanofiori Nord ...
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PropertyEU Archive
JLL cautions Scotland on energy performance certs
Property adviser Jones Lang LaSalle (JLL) has warned that the introduction of Energy Performance Certificates (EPC) in Scotland next January could be highly problematic. From that date all commercial buildings over 50 m[sup]2[/sup] will be required to have an EPC when they are let or sold. For new buildings the ...
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PropertyEU Archive
MWB defers sale of property units
UK property company MWB Group said it is postponing the sale of its hotel, retail and office units because of the 'current economic climate'. The group said the credit crunch makes the disposal 'less likely to be achieved at prices reflecting the current financial success and strong brand values'. It ...
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PropertyEU Archive
King Sturge opens new offices in Spain
Property adviser King Sturge is strengthening its presence in the Spanish market with the addition of new offices in Seville and Malaga. In both cities, King Sturge will offer consultancy services in the land, investment, agency and project management sectors.
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PropertyEU Archive
M&B resumes talks with Punch Taverns
Pub chain Mitchells & Butlers (M&B) confirmed on Monday it is in talks with Punch Taverns to acquire its 869 Spirit-managed pubs. The pub group also said that three private equity firms are studying the acquisition of a minority stake in the company. The investors are Permira, Bain Capital and ...
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PropertyEU Archive
AMB acquires 15,329 m[sup]2[/sup] distribution centre at London Heathrow
AMB Property Europe, the European arm of NYSE-listed AMB Property Corporation, has raised its UK profile through the purchase of AMB North Heathrow Distribution Center 1 from an unnamed UK institution. The 15,329 m[sup]2[/sup] centre is fully leased to Deutsche Post. The centre is located just over three kilometres north ...
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PropertyEU Archive
Risanamento gets EUR 150m loan from Intesa Sanpaolo
Italian property company Risanamento said on Tuesday it has reached an agreement with bank Intesa Sanpaolo regarding a EUR 150mln credit facility. In a statement, the company said it expects the agreement to be signed in the next few days.
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PropertyEU Archive
Pirelli RE postpones business plan to 2H 2008
Italian real estate company Pirelli Real Estate has postponed the announcement of its three-year business plan to the second half of 2008 because of uncertainty in the market. 'Trusting that a clearer picture will emerge in the second half of the year allowing better guidance, the new board of directors ...
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PropertyEU Archive
Jelmoli reports record 2007 earnings
Jelmoli Group posted a record net profit of CHF 920.8 mln (EUR 581.75 mln) in 2007, up nearly 412% on the previous year, thanks to a one-off gain from the disposal of home furniture wholesaler Dipl. Ing. Fust and a strong operational performance. Operating profit for the year amounted to ...
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PropertyEU Archive
Raven Russia pre-leases 50% of Moscow warehouse’s 3rd phase
AIM-listed, Guernsey-based property investor Raven Russia has announced the pre-leasing of 50% of the third phase of its 200,000 m[sup]2[/sup] warehouse development at Istra, Moscow. Preliminary agreements have been signed to let 25,658 m[sup]2[/sup] of the total 50,000 m[sup]2[/sup] to Seacon Logistics for a seven-year term at a higher-than-expected rent. ...
