All Real Assets articles in Web Issue – Page 238
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PropertyEU Archive
Hilton teams up with London & Regional in Russian hotel development venture
Global hotel chain Hilton has entered into a franchise agreement with ZAO Russkaya Kompaniya Razvitiya, a wholly-owned subsidiary of London & Regional group, to introduce the Doubletree by Hilton hotel product in Russia. This agreement forms part of a Strategic Development Alliance with the UK developer which is expected to ...
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PropertyEU Archive
ICSC to respond to new energy performance proposals
The European Commission has invited the European branch of the International Council of Shopping Centers (ICSC) to respond to new proposals for the Energy Performance Building Directive (EPBD) by the end of this year. Speaking on the first day of the ICSC Europe conference in Amsterdam on Wednesday, Stina Soewarta, ...
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PropertyEU Archive
Russian hotel firm enters Europe
Central European Hotel Investment (CEHI), a company owned by the Russian investor Alexander Klyachin, has acquired European operator Austrian Hotel Company (AHC) for an undisclosed amount. The deal marks the entry of the Russian firm into Europe. AHC owns twenty three-four star hotels with 1,875 rooms located in 17 cities ...
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PropertyEU Archive
ICSC participants optimistic on outlook for retail industry
About 45% of the representatives of the shopping centre industry attending the first day of the International Council of Shopping Centers Europe conference in Amsterdam on Wednesday are optimistic about the short-term prospects of the sector. This emerged from a survey carried out during the first session of the conference. ...
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PropertyEU Archive
Orco unveils new project in Prague
Central European investor and developer Orco said on Wednesday that it has received the occupancy permit for the first phase of its Palace Archa scheme in the centre of Prague. Palace Archa is in the former SOB bank building situated in downtown Prague.
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PropertyEU Archive
Atisreal: German office markets see 17% higher turnover in Q1
First-quarter take-up in the eight main office locations in Germany has risen 17% compared to the equivalent period in 2007, according to a survey by German property consultant Atisreal. The report found that office take-up in Berlin, Cologne, Dusseldorf, Essen, Frankfurt, Hamburg, Leipzig and Munich totalled 766,000 m[sup]2[/sup] in 2008 ...
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PropertyEU Archive
Dutch UDC launches $1bn US retail property fund
Dutch property investor United Development Company (UDC) said on Thursday that it has launched a $1bn (EUR 628mln) investment and development fund to invest in the US retail property market. UDC was set up by Ton van Dam, the former co-founder of Dutch property firm Multi Development. UDC said it ...
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PropertyEU Archive
Park Plaza to operate 20 Russian hotels
Hotel operator Park Plaza Hotels (PPH) said its wholly-owned unit, Park Plaza Hotels Europe (PPHE), has signed 20-year management contracts with Russian developer Ferens Management for the operation of up to 20 new hotels in Russia. PPHE will also help identify and plan the new hotels. Ferens is owned by ...
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PropertyEU Archive
ICSC Europe announces winners of the 2008 European Shopping Centre Awards
The International Council of Shopping Centers Europe (ICSC Europe) announced the winners of the 2008 European Shopping Centre Awards on Thursday. Shopping malls from Austria, Belgium, Germany, the Netherlands, Poland, Switzerland, UK and, for the first time Latvia, picked up a total of 11 awards in the categories of Small ...
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PropertyEU Archive
UK rental growth to slow in 2008/9 - JLL
Property advisor Jones Lang LaSalle said in a new research report on Thursday that it is now clear rental growth will be weaker in 2008/9, with the extent of the slowdown defined by the impact on occupier demand. The UK commercial property market continues to feel the impact of nervous ...
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PropertyEU Archive
Instanbul, Ankara to face oversupply of retail stock by 2010
Turkey's largest cities will face oversupply of retail space by 2010, according to Koray Ozgul, managing director of retail investor and developer Corio. Ozgul, who was speaking at the ICSC Europe conference in Amsterdam, said that a total 2.5 million m[sup]2[/sup] of shopping centre space will be added to the ...
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PropertyEU Archive
Hypo 'welcomes' JC Flowers-led offer for 24.9% stake
The board of Hypo Real Estate Group has welcomed 'in principle' the news that a group of investors led by US private investor JC Flowers intends to make a public offer for 24.9% of the shares in Germany's second-largest commercial real estate lender.
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PropertyEU Archive
Land Securities mulls sale of EUR 372m Bullring stake
UK REIT Land Securities confirmed it is considering the sale of its 33% stake in the Bullring shopping centre in Birmingham. The sale of one-third of the 120,000 m[sup]2[/sup] landmark shopping centre in Britain's second city is expected to attract bids of more than £300mln (EUR 372mln).
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PropertyEU Archive
Immoeast pre-lets 50% of largest mall development in Varna
Immoeast has said that 50% of the space at the Cherno More Park shopping centre project in the Bulgarian Black Sea city of Varna has been pre-let six months prior to the start of construction. Cherno More Park will be the largest shopping centre in the city, Immoeast said. The ...
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PropertyEU Archive
IEF Capital completes EUR 741m retail acquisition
IEF Capital and other unnamed buyers have completed the acquisition of part of Rodamco Europe's Dutch high-street retail portfolio for EUR 741mln.
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PropertyEU Archive
Unibail-Rodamco to refocus activities on 80 larger malls
European property giant Unibail-Rodamco plans to reduce its shopping centre portfolio to 80 large malls from the current 90 as a result of a strategic review of the company's business, CEO Guillaume Poitrinal said on Thursday at the ICSC Europe conference in Amsterdam. Poitrinal said that Unibail-Rodamco is seeking to ...
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PropertyEU Archive
KanAm fund buys Zurich hotel project
German real estate investment company KanAm Grund said its KanAm Spezial Grundinvest fund has acquired its first hotel. The Holiday Inn Zurich-Messe project will be operated as a Holiday Inn franchise under a 20-year lease. The hotel is set to open for business in the first quarter of 2009. Investment ...
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PropertyEU Archive
Multi Turkmall opens Forum Camlik
Multi Turkmall celebrates the opening on Friday of Forum Camlik in the southern Turkish city of Denizli, the latest in 20 Forum shopping centres it intends to build in Turkey up to 2010. Forum Camlik provides 24,000 m[sup]2[/sup] of retail space, a 4,500 m[sup]2[/sup] supermarket, restaurant and leisure space and ...
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PropertyEU Archive
Shopping centre industry will see limited impact from credit crunch
The impact of the credit crunch will be more limited on the shopping centre industry compared to other real estate asset classes, according to Guillaume Poitrinal, CEO of Unibail-Rodamco. ‘A number of factors will mitigate the impact of the credit crunch, such as the visibility of the cash flow in ...
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PropertyEU Archive
Retail pilot study launched for Europe-wide certification
The first pilot project aimed at facilitating the introduction of the BRE Environmental Assessment Method (BREEAM) for European retail property will be launched in July this year, according to Clare Lowe, principal consultant for BRE Global. The pilot project will run for 12 months and will be reviewed in July ...
