All Real Assets articles in Web Issue – Page 242
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PropertyEU Archive
CB Richard Ellis joins Fortune 500
CB Richard Ellis Group has become the first commercial real estate services firm to be added to the Fortune 500 list of the largest American companies. The property adviser debuts at number 404 in the 2008 list.
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PropertyEU Archive
Rate of All-Property negative returns slows in UK
All-Property total returns continue to slide in Britain but the rate appears to be slowing, according to the latest Jones Lang LaSalle Quarterly UK Property Index.
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PropertyEU Archive
Gordon Keiser appointed new CEO of ProLogis European Properties
Logistics provider ProLogis European Properties has appointed Gordon Keiser as its new chief executive officer, effective June 1, 2008. Keiser, who will be based in London, will replace Robert Watson, who is returning to the United States as ProLogis' Chief Sustainability Officer to head its global sustainability initiative. Chairman Jeffrey ...
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PropertyEU Archive
Bouwfonds buys three German assets
Bouwfonds Asset Management and Catella Germany on Thursday announced the acquisition of three assets in Germany for the pan-European residential fund Bouwfonds European Residential Fund. The transaction involves a total of around EUR 44mln. Located in Munich, Frankfurt and Kiel, the assets include 195 units of apartments and townhouses, as ...
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PropertyEU Archive
Beni Stabili, IGD JV buys shopping gallery in Turin
Riqualificazione Grande Distribuzione (RGD), a 50-50 retail JV between Italian property companies Beni Stabili and IGD, has bought the shopping gallery in the Le Fornaci shopping centre at Beinasco, in Turin, northern Italy, for around EUR 18mln. RGD has also signed a preliminary agreement to purchase another 2,000 m[sup]2[/sup] of ...
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PropertyEU Archive
Spazio Investment buys Milan office
London-listed Spazio Investment has acquired a new office building in Milan from Italian developer Pasini Group for EUR 27.5mln. The acquisition was made through Spazio's Italian fund Spazio Industriale. Located in Sesto San Giovanni, near Milan, the new 13,100 m[sup]2[/sup] building has been developed over the last 18 months within ...
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PropertyEU Archive
Cape Natixis, State Street set up nursing home fund
Cape Natixis and State Street Global Investments have announced the first closing of Domani Sereno Real Estate, a closed-ended investment fund. The fund is aimed at investing in properties which will be leased to major nursing home operators both in Italy and abroad. Listed nursing home specialist Arkimedica is teaming ...
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PropertyEU Archive
European non-listed real estate funds struggle to place capital
European non-listed real estate funds had trouble investing the equity they raised last year, according to the latest annual capital raising survey of Inrev, the association of non-listed real estate funds. In 2007, non-listed real estate funds drew on 69% of the capital raised that year compared with 90% in ...
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PropertyEU Archive
KanAm fund shops in Paris
Frankfurt-based investment company KanAm Grund said on Thursday that its Spezial grundin-vest Fonds has acquired an office building in Paris for EUR 67.5mln. The Le Dionys office building, located in the Saint-Denis southern suburbs of Paris, is the second French acquisition by KanAm in the last months, following the purchase ...
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PropertyEU Archive
Klepierre revenues up 13.8% in Q1, positive on outlook for 2008
Revenues at Klepierre rose 13.8% to EUR 175.9mln in the first quarter of 2008 from EUR 154.6mln in the same year-earlier period, as the French retail property giant said it was positive on the outlook for the full year despite the global economic slowdown.
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PropertyEU Archive
Trigranit gets go-ahead for EUR 1b Esplanada project
Hungarian developer Trigranit said it has received the green light from the government of Romania for the development of its EUR 1bn Esplanada project in Bucharest. The development, a private-public partnership between Trigranit and the Romanian government, is scheduled to start in the second half of 2009. 'The negotiation process ...
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PropertyEU Archive
Teesland Advantage Property swings to 2007 pre-tax loss
Listed UK commercial property investment company Teesland Advantage Property Income Trust (TAP) said it swung into the red in 2007 with a pre-tax loss of £18.46mln (EUR 23.4mln) compared with a profit of £23.8mln in 2006. The trust said it would could continue to take a defensive stance, with its ...
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PropertyEU Archive
Corio sells Dutch portfolio to White Estate for EUR 650m
Dutch property firm Corio said on Friday that it has reached agreement with a consortium led by White Estate Investments on the sale of its office and industrial portfolio in the Netherlands for EUR 650mln, excluding costs of EUR 5mln. Corio announced last year that it had initiated a divestment ...
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PropertyEU Archive
ECE's Serdika Center 70% leased two years before opening
German developer ECE Projektmanagement said last week it has appointed Turkish construction company Kayi to carry out the construction work on its Serdika Center development in Sofia. The centre is expected to open at the beginning of 2010. 'We are cooperating with the company already on other projects, in Lithuania ...
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PropertyEU Archive
Nanette acquires development site in Budapest
Amsterdam-registered residential property developer Nanette said it has agreed to purchase a 153,000 m[sup]2[/sup] plot of land about 5 kilometres from the Budapest city centre as it begins work on its ninth project in the Hungarian capital.
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PropertyEU Archive
Active Turkish shopping centre market still undersupplied: JLL
Turkey's shopping centre market has been very active over the last two years, but it remains undersupplied by European standards, according to a report from Jones Lang LaSalle on the country's retail market.
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PropertyEU Archive
O Twelve Estates announces asset management activities
Closed-ended investment company O Twelve Estates has announced a number of asset management activities, aimed at extracting value from its portfolio. The company has sold the Bulgins Site site, in Essex, Eastern England, for £5.5mln (EUR 7mln). The 2.2 acre site was originally acquired by O Twelve in July 2007 ...
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PropertyEU Archive
Amsterdam's Zuidas project faces financing crisis
Amsterdam's ambitious plan to redevelop the Zuidas business district in the south of the Dutch capital faces a serious crisis after private investors rejected the investment proposal put forward by the city council.
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PropertyEU Archive
Redevco poaches CEO Asia from ING REIM
Dutch property group Redevco has appointed Robert Lie to the new position of managing director for Redevco Asia. Lie, until recently CEO Asia at ING Real Estate Investment Management (REIM), will lead Redevco's investment and development activities in its second home market, Asia, from its new office in Hong Kong, ...
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PropertyEU Archive
Pirelli Re, Generali in running to manage Banco Popolare fund
Pirelli Real Estate and Italian insurer Generali are in the running to manage a property fund that will hold the real estate assets of Italian lender Banco Popolare, according to a report in Italian news agency Radiocor. The news agency said both companies have expressed a preliminary interest in managing ...
