All Real Assets articles in Web Issue – Page 240
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PropertyEU Archive
Helaba financing EUR 270m of property in Poland for Immoeast
Helaba Landesbank Hessen-Thüringen is financing Austria- based Immoeast’s shopping mall in Katowice and two Class A office buildings in Warsaw for approximately EUR 270 mln. Helaba is acting as the sole arranger and lender on the deal, which has a five-year term.
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PropertyEU Archive
LaSalle launches EUR 5bn European opportunity fund
LaSalle, the investment arm of Jones Lang LaSalle, has announced the launch of a Continental European closed-end opportunistic fund that will use leverage to create a buying power of EUR 4-5bn.
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PropertyEU Archive
Savills opens first Latin American office in Mexico
Property advisor Savills has opened a new office in Mexico City, its first in Latin America. Savills Mexico will be headed by Javier Kutz Clever and will work closely with Savills' US business, which currently comprises Savills Granite in New York.
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PropertyEU Archive
UK to apply premium for energy-effecient buildings, NB says
The commercial real estate sector in the UK is likely to follow the example of the US in applying a premium to the price of energy-efficient buildings, according to NB Environment, a unit of NB Real Estate Group.
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PropertyEU Archive
Volume of auction lots falls in the UK
The number of commercial properties available for purchase through auction (496 lots) in the UK during the first quarter of 2008 was half the number available in the same period last year, but sales rates have remained strong at 79% as private investors and high net worth individuals (HNWIs) continue ...
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PropertyEU Archive
Credit crunch has mixed effect on bank lettings in Europe
Office take-up in the London banking sector fell drastically in the last quarter of 2007, Cushman & Wakefield said on Monday in its latest Banking Letting Activity Update. But the downward spiral was not indicative of the situation in the rest of Europe as take-up remained firm in Paris and ...
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PropertyEU Archive
Dev Secs contracts Skanska to build London property
London-based property company Development Securities has contracted Swedish construction and property giant Skanska to construct an office building at Paddington Central in London. The contract for a 13-storey building at Two Kingdom Street amounts to about £88mln (EUR 110mln).
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PropertyEU Archive
Netia preleases largest office space in Warsaw's Marynarska Business Park
Leading Polish telecommunication service provider, Netia, has signed a lease contract for over 13,000 m[sup]2[/sup] in Marynarska Business Park developed by Ghelamco in Mokotow, Warsaw. Netia will occupy the entire 13,000 m[sup]2[/sup] tower building which it expects to move into in August/September of this year. Property consultants DTZ represented Netia ...
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PropertyEU Archive
DevSecs sells Kirkby shopping centre
Development Securities has signalled the end of its attempts to carry out the regeneration of Kirkby town centre in Liverpool. In a short statement on Monday, the London-based property company said it had sold its holdings in Kirkby 'at a value which equates to book value and the original cost ...
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PropertyEU Archive
Metrovacesa leases 10,200 m[sup]2[/sup] in 1Q 2008
Spanish property giant Metrovacesa said on Tuesday that its shopping centre business has signed 37 new leasing contracts with first-class operators during the first quarter of the year. In total, Metrovacesa has rented 10,200 m[sup]2[/sup] of gross shopping centre space, which will boost annual rents by close to EUR 3 ...
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PropertyEU Archive
Mercialys Q1 2008 revenues up +16.6%
Listed French commercial real estate company Mercialys has reported an increase of 16.6% in rental revenue in its first quarter figures compared to same period in 2007. The company said rental revenues grew to EUR 28.1mln at the end-March 2008. First quarter invoiced rents were also up 16.6% compared with ...
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PropertyEU Archive
Generali to launch property unit in September 2008
Italian insurance giant Generali said it has approved the creation of Generali Immobiliare, a new company that will develop and coordinate the real estate activities for the entire group worth approximately EUR 23bn. All the Generali real estate divisions located in the countries where the group operates will report to ...
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PropertyEU Archive
Morgan Stanley's EurAsia fund raises EUR 250m
Morgan Stanley Real Estate Investment said on Tuesday that its EurAsia institutional property fund has raised more than EUR 250mln of equity in less than a year and expects to raise a further EUR 250mln during the third quarter of 2008. After reaching its first closing in the fourth quarter ...
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PropertyEU Archive
Stenham UK3 fund secures its first investment
Global property fund manager Stenham said its Third UK Property Fund has made its first investment with the purchase of a one-third stake in a Grade A office building in London. The landmark property, located at 1 Victoria Street, Westminster, in London, is let to the First Secretary of State, ...
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PropertyEU Archive
Banks mull action to acquire up to 30% of Colonial
Spanish banks Caja de Ahorros y Pensiones de Barcelona (La Caixa) and Banco Popolar said on Tuesday in a statement to the Spanish securities watchdog CNMV that they are still in talks with Inmobiliaria Colonial's core shareholders, Luis Portillo and Luis Nozaleda, to acquire a stake in the debt-laden company ...
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PropertyEU Archive
IVG Funds acquires Milan office development
IVG Institutional Funds has acquired the new office development Edificio J in Milan for EUR 27mln from a Milanese developer. Savills acted for the vendor.
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PropertyEU Archive
PIK acquires major development site in Moscow
Russian residential developer PIK Group announced that the purchase of 11.35 hectares in Chertanovo, in the south of Moscow. The London-listed company said it plans to develop over 75,000 m[sup]2[/sup] of residential housing, the remainder to be assigned for the underlying infrastructure, including schools and a kindergarten. The location has ...
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PropertyEU Archive
Morley, DTZ AM launch new French regional property fund
Morley and Paris-based DTZ Asset Management have announced the launch of Hexagone, a fund specialising in French regional real estate, to capitalise on investor demand for stable and high-quality French regional property.
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PropertyEU Archive
Land Securities get go-ahead for Old Bailey 'donut'
UK real estate investment trust Land Securities has received planning consent from the City of London's Planning and Transportation Committee to develop a property near the Old Bailey court complex in the British capital.
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PropertyEU Archive
Banks take control of three units of Erinaceous
A vehicle controlled by creditors of struggling UK property services group Erinaceous has acquired three of the company's businesses, the joint administrators have announced.
