All Real Assets articles in Web Issue – Page 243
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PropertyEU Archive
St Vincent Capital to commence Polish industrial scheme
London-based boutique investment development firm St. Vincent Capital said it has recently completed the purchase of a major new manufacturing development in southern Poland. Through its development brand Osier Group, St. Vincent said it has taken full control of the Cross Point, Zory scheme in Silesia and has prepared a ...
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PropertyEU Archive
Imorendimento launches new residential fund
Portuguese investment and asset management company Imorendimento said last week it has launched a new closed-end property fund, Historic Lodges, for urban redevelopments in the historic centre of Gaia, the second-most important city in Oporto's Metropolitan Area (northern Portugal).
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PropertyEU Archive
ING RE to launch EUR 1b European Infrastructure fund
ING Real Estate said on Monday that it wanted to raise EUR 1bn of equity for a new European Infrastructure Fund. Open to institutional investors with a minimum of EUR 10mln to invest, the fund is targeting a balanced portfolio of European assets, with an internal rate of return (IRR) ...
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PropertyEU Archive
2008 offers UK retail investment opportunities: Savills
The first quarter of 2008 has seen a diminishing supply of retail product being brought to the market due to an easing of pressure on redemption payments, according to a report issued by Savills. There has been a decrease in lot sizes as well, with the average dropping to ...
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PropertyEU Archive
Neinver to invest EUR 500m in European retail projects by 2010
Spanish property company Neinver said it plans to invest up to EUR 500mln in the development of some 340,000 m[sup]2[/sup] of retail space in the next two years. This is expected to more than double the company's retail portfolio, which will reach 700,000 m[sup]2[/sup] by 2010 through both development investments ...
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PropertyEU Archive
DAA announces plan for EUR 4b business district
The Dublin Airport Authority (DAA) has announced plans to build a new EUR 4bn business district in Ireland's capital. The development would cover a 350 acre area near the existing terminal and would include 600,000 m[sup]2[/sup] of office space and 40,000 m[sup]2[/sup] of retail, hotel and conference facilities. Dublin Airport ...
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PropertyEU Archive
BayernLB provides £ 400m financing for London's Bishops Sq
German bank BayernLB said Monday it is providing a £ 400mln (EUR 510mln) five-year financing loan to the real estate investment trust Hammerson for its Bishops Square landmark building in the City of London. The project, which was valued at £ 597mln at the end of December 2007, offers a ...
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PropertyEU Archive
Rhatigan, Goodbody JV sells Dublin office for EUR 60m
A 50-50 joint venture of Irish building group Rhatigan and stockbroking firm Goodbody Stockbrokers has sold the Brunel office development in Dublin for about EUR 60mln to a private investor. The deal reflects a net initial yield of 5.35%. Savills Irish office, Savills Hamilton Osborne King, acted for the buyer.
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PropertyEU Archive
Vastned signs six-week exclusivity agreement with IEF Capital
Netherlands-listed property company Vastned Retail has announced the signing of an exclusivity agreement with IEF Capital regarding its indicative bid. The six-week exclusivity period began Monday 28 April. IEF Capital, a joint venture of Bouwfonds Asset Management and Inflation Exchange Fund (IEF), had attempted a hostile takeover of Vastned at ...
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PropertyEU Archive
Colonial shares soar as banks take control of Portillo's stake
Inmobiliaria Colonial's shares soared in stock market dealings Monday after Luis Portillo, Colonial's largest shareholder, sold about 25% of Colonial's share capital to his creditor banks. Portillo has transferred a total 403 million shares, or a 24.58% stake, to a group of eight banks led by Banco Popular - which ...
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PropertyEU Archive
Vincent Tchenguiz enters bidding for Trillium
A consortium led by property tycoon Vincent Tchenguiz has entered the increasingly competitive £ 2bn (EUR 2.5bn) bid to take over Land Securities' property outsourcing business, Trillium. Also participating is AAIM Infrastructure, a specialised public-sector project investment fund backed by Bank of Scotland. Credit Suisse is advising the consortium as ...
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PropertyEU Archive
Blackstone to launch European property fund
US private equity giant Blackstone plans to launch a European property fund to take advantage of falling property values across Europe's markets, the Financial Times newspaper reported Monday. The launch of the new investment vehicle -Blackstone's third internationally-focused real estate fund - follows the closing in early April of ...
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PropertyEU Archive
Renta Corporacion switches tack, gives priority to liquidity
Renta Corporacion has warned that the 'serious liquidity crisis' in the financial markets is having a direct impact on its business. The Spanish property company reported losses of EUR 8.7mln in the first quarter of 2008 as housing demand in Spain fell by 24% year-on-year in February after falling another ...
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PropertyEU Archive
British Land proposes £ 160m tower for Birmingham
UK property company British Land has submitted plans for a 35-storey office tower in the centre of Birmingham, UK. The new development should replace the existing smaller NatWest structure if the city council gives the go-ahead to the new £ 160mln (EUR 203mln) scheme. 'We believe we have designed not ...
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PropertyEU Archive
Warimpex revenues rise 38% in 2007
Vienna and Warsaw-listed hotel developer and investor Warimpex said its revenues jumped 38% to EUR 81.2mln in 2007, as it predicted a 10-25% rise this year. Among other 2007 figures announced Monday, Warimpex pointed to a nearly 400% gain from the sales of project companies and a 67% rise in ...
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PropertyEU Archive
Bouygues Immobilier sells 3 Portuguese projects for EUR 70m
French construction group Bouygues Immobilier said on Tuesday it has sold three commercial real estate projects in Portugal to Pramerica Real Estate for EUR 70mln. The developments consist of the Portimao retail center in Algarve and two office buildings located in the centre of Lisbon’s Parc des Nations. Designed by ...
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PropertyEU Archive
Savills brokers $312m deal in Beijing
Global property consultant Savills said on Tuesday it has brokered a $ 312mln (EUR 200mln) investment deal in Beijing. This is the largest transaction closed by an international agency in mainland China to date, according to Savills.
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PropertyEU Archive
BBPP completes acquisition of £40m PPP project portfolio
London-listed Babcock & Brown Public Partnerships (BBPP) said it has completed the acquisition of a £ 40.6mln (EUR 51.5mln) portfolio of 11 investments in PPP projects from Babcock & Brown and its specialised funds and asset management platform. The portfolio includes the Orange Hospital project in Australia (100% ownership), the ...
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PropertyEU Archive
Hypo RE provides EUR 53m financing to Custom House Capital
Hypo Real Estate Bank International said on Tuesday that it has provided EUR 53mln of investment financing for the acquisition of the Maximillian retail centre in Worth, Germany. The Maximillian Retail Centre consists of a single storey shopping centre and an adjoining Globus DIY store. It was opened in November ...
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PropertyEU Archive
GPT Halverton acquires French offices
Real estate investment manager GPT Halverton has acquired two fully let office properties in France’s Nantes region for approximately EUR 14mln. Nantes Chanterie is a multi-let office complex of two connected buildings comprising 6,500 m[sup]2[/sup] located 1 kilometre away from the A11 motorway connecting Nantes, Angers and Paris and 24 ...
