All Real Assets articles in Web Issue – Page 241
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PropertyEU Archive
IGD set to become first Italian SIIQ
Italian listed retail property company Immobiliare Grande Distribuzione (IGD) said it has decided to elect for the tax-efficient SIIQ status with retroactive effect to January 1, 2008. Opting for SIIQ status 'will result in the exemption of income from rental activities for the purposes of IRES (corporate income tax) and ...
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PropertyEU Archive
Wragge & Co commits to Birmingham’s largest ever pre-let
Ireland's Ballymore Properties has concluded the pre-letting of approximately 250,000 sq ft (76,200 m2) of office accommodation to UK law firm Wragge & Co at Two Snowhill, the second office building at its 1 million sq ft mixed-use Snowhill development. The deal represents the largest ever pre-let in Birmingham’s city ...
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PropertyEU Archive
Bulgarian Land moves into commercial property
AIM-listed developer Bulgarian Land Development has made its first move into the commercial property sector with the purchase of an office building in Sofia. Until now the company has focused on development and investment in the residential sector.
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PropertyEU Archive
Sonae Sierra's Freccia Rossa opens its doors in Italy
Sonae Sierra, AIG Global Real Estate Investment Corp and Coimpredil inaugurated the Freccia Rossa shopping and leisure centre in Brescia, Italy, on Tuesday. With a Gross Lettable Area (GLA) of 29,700 m2, Freccia Rossa represents a total investment of EUR 144 mln and is owned by a joint venture of ...
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PropertyEU Archive
Investment in French commercial property halves in Q1
The French market saw a total EUR 3.7 bn of investment in commercial real estate during the first quarter of 2008, about half the amount that was invested in the same period a year ago, according to a report released by real estate adviser CB Richard Ellis. The slowdown which ...
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PropertyEU Archive
GE RE buys EUR 1.3bn of commercial property loans
GE Real Estate said on Wednesday that it has acquired a EUR 1.27bn portfolio of Senior and Whole commercial property loans from Capmark Europe. The portfolio comprises 39 loans to a group of high quality borrowers and with attractive loan-to-values, the company said. The assets are spread throughout Europe, with ...
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PropertyEU Archive
Beni Stabili Q1 operating profit up 3.4%
Italian real estate company Beni Stabili on Tuesday reported a 3.4% increase in operating profit to EUR 44mln in the first quarter of 2008, up from EUR 43mln in the year-earlier period. The company attributed the increase to purchases completed in 2007 which generated a 3.5% rise in the margin ...
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PropertyEU Archive
Redevco to apply sustainability standards to EUR 1.8bn pipeline
Amsterdam-based property group Redevco has committed itself to codified sustainability standards for its EUR 1.8bn pipeline of retail development projects across Europe. Jaap Gillis, Redevco's chief operating officer and chairman of the International Shopping Center Council (ICSC) Europe, is one of the main voices in the industry calling on developers ...
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PropertyEU Archive
HIH targets EUR 700m investments in 2008
Warburg-Henderson's asset manager HIH Hamburgischer Immobilien Handlung said it is planning investments to the tune of some EUR 700mln in 2008 after booking transactions worth EUR 50mln in the first quarter of the year. The acquisitions were made on behalf of two Wawrburg-Henderson funds.
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PropertyEU Archive
Henderson to proceed with largest UK property deal of 2008
London-headquartered Henderson Global Investors (HGI) has been given the go-ahead to proceed with the purchase of a portfolio of designer factory outlets for about £ 380mln (EUR 475mln) in what would be the largest UK property deal of the year, the Financial Times reported.
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PropertyEU Archive
Russia signs EUR 49m finance facility for Russian logistics plant
AIM-listed Raven Russia said that is has signed a EUR 49mln construction facility agreement with German bank HSH Nordbank. The facility will be used to finance the first phase comprising some 110,000 m[sup]2[/sup] of the 275,000 m[sup]2[/sup] Noginsk logistics project in Eastern Moscow.
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PropertyEU Archive
Cofinimmo adds three nursing homes to its portfolio
Belgian real estate company Cofinimmo said it has acquired three nursing homes in the country's Walloon region for EUR 12.3mln. The deal reflects an initial yield of 6.36%.
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PropertyEU Archive
Portugal's Imocom to launch luxury hotel resort in Algarve
Portuguese property group Imocom will start the development in April of a six-star hotel and residential resort in Portugal's Algarve coastal region. The Palacio da Quinta scheme will consist of a six-star hotel, including private jet and yacht charter, 80 luxurious apartments and penthouses set within 17 acres of ...
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PropertyEU Archive
Prologis buys two plots in Germany
Logistics provider Prologis has bought two plots of land in the A7 industrial park in Herbrechtingen/Giengen, Germany comprising 70,000 m[sup]2[/sup] and 45,000 m[sup]2[/sup] respectively. Financial details were not disclosed.
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PropertyEU Archive
Gecina considers share split
French property group Gecina is considering the distribution of free shares to shareholders and the implementation of a split in the nominal value of the share. The French property company which is the process of splitting up from Spanish firm Metrovecasa is looking at new ways of increasing value for ...
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PropertyEU Archive
Meag fund sells in the Netherlands
German fund manager Munich Ergo Asset Management (Meag) has sold a portfolio consisting of six commercial properties in the Netherlands to Dutch privately-owned asset manager Solidiam. The portfolio provides a total 60,000 m[sup]2[/sup] of space leased to about 20 tenants. The financial details of the transaction were not disclosed.
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PropertyEU Archive
Generali, Pirelli RE mull stake in new MPS property unit
Italy's Generali Group and Pirelli Real Estate are interested in purchasing a stake in a new property company that Italian bank Monte Paschi di Siena (MPS) is setting up to manage its real estate portfolio, Italian news agency ANSA reported, without quoting sources.
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PropertyEU Archive
L&S signs £ 200m JV with Middle-East investor
AIM-listed property investment company London & Stamford (L&S) said on Thursday that it has signed a new £ 200mln (EUR 251mln) joint venture agreement with Cavendish, a wholly-owned subsidiary of a Gulf sovereign wealth investor. Under the new agreement, Cavendish will provide co-investment funds of an initial £ 200mln to ...
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PropertyEU Archive
Non-listed real estate fund returns fall sharply in 2007
Investment returns from European non-listed real estate funds fell to -3.9% in 2007 compared with 21% in 2006. The dramatic decline is due to the euro increasing in strength against the dollar and sterling as well as a poor performance from the UK market for non-listed real estate funds, ...
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PropertyEU Archive
Immoeast acquires 50% of CEE residential developer
CEE developer and investor Immoeast has acquired a 50% stake in Caterata, a residential developer in the South Eastern and Central Eastern European (SEE-CEE) markets. Tel Aviv-listed New Horizon Real Estate Group, the former sole owner, retained the other 50%. An Immoeast spokesperson told PropertyEU on Thursday that the two ...
