All Real Assets articles in Web Issue – Page 245
-
PropertyEU Archive
SLI to fund EUR 70m retail park in Poland
Standard Life Investments has signed an agreement with developer Helical Poland to fund a EUR 70mln retail park near Opole in Poland. Secured on behalf of Standard Life's European Property Growth Fund (EPGF), the 36,000 m[sup]2[/sup] Tarawa Retail Park development will comprise a hypermarket, a DIY store, 10 retail warehouse ...
-
PropertyEU Archive
Gecina completes acquisition of Paris office property
French property company Gecina said it has completed the acquisition of the l'Angle office building located in the new Boulogne-Billancourt district in Paris from Hines European Development Fund (HEDF) for EUR 84mln. Gecina said it has also signed a 12-year lease with the French newspaper l'Equipe for all of this ...
-
PropertyEU Archive
GTC's Park Apartments complex in Belgrade sold out
Colliers International Serbia said it has completed the sale of all residential and retail units in the Park Apartments complex in Belgrade developed by Globe Trade Center, a Poland-based developer active in Central and Eastern Europe. The complex features 20,000 m[sup]2[/sup] of residential and retail space, with 181 residential units, ...
-
PropertyEU Archive
Lenders' profits hit by property value declines, BoE warns
The sharp decline in commercial property values in the UK has dragged down the profits of the country's most active real estate lenders, the Bank of England has cautioned in its latest Financial Stability Report. The central bank said the 16% fall in commercial property values since last June had ...
-
PropertyEU Archive
Summit Germany sells Cologne property
AIM-listed German commercial property investor Summit Germany said its recently acquired Deutsche Real Estate subsidiary has sold its share in a property in Cologne, Germany, for a profit of about EUR 2mln. The property was held through a joint venture in which Deutsche Re's share is 40%. The property has ...
-
PropertyEU Archive
Irish commercial property tumbles: IPD
The total return of the IPD Irish Quarterly Index came in at -2.3% in the first quarter of 2008, the worst return in the index history which dates back to the start of 1995. Moreover, this quarter's negative growth brings to a close 23 straight quarters of positive performance, IPD ...
-
PropertyEU Archive
Hammerson 'upbeat' despite turbulent market conditions
Hammerson has said it remains upbeat on its prospects for 2008 despite further declines in UK property values in the first quarter of the year and signs of softening in the office investment market in France, which accounts for 30% of the UK commercial property developer-owner's investment portfolio.
-
PropertyEU Archive
Croatia's property market continues upward trend: King Sturge
The commercial property market in Croatia is showing increasing activity thanks to the country's strong economic growth and its edging closer to EU membership. Rents for trophy office buildings in the capital Zagreb - which accounts for the majority of the property activity in Croatia - have increased by 5-10% ...
-
PropertyEU Archive
Orpea to spin off part of EUR 1.2bn portfolio
French nursing home group Orpea said it plans to outsource part of its real estate portfolio in the second half of 2008. The company said it is considering different options, including the sale-and-leaseback of some of its development assets to one or more investors, and the direct sale of a ...
-
PropertyEU Archive
European hotels see Q1 drop in occupancy and profits - TRI Hospitality
The majority of Europe's hotels have experienced lower occupancy and profits so far this year, according to TRI Hospitality's March HotStats report. Of the ten cities surveyed, eight experienced a decrease in profits while six cities had lower occupancy. The sharpest occupancy drop occurred in Warsaw, which saw a first ...
-
PropertyEU Archive
Transfesa to invest EUR 17m in new UK facility
Spanish logistics group Transfesa is investing £13.4mln (EUR 17mln) in the development of a new distribution centre in the British town of Kent. Global property and construction consultant Rider Levett Bucknall has been appointed to provide project-monitoring services on the property. The Spanish firm plans to redevelop an existing brownfield ...
-
PropertyEU Archive
GPR 250 Europe Index sees slight improvement in April
European real estate stocks showed a negative performance in the month of April according to the GPR 250 Europe Index. Global Property Research (GPR) reported an overall dip of 0.7% for European property stocks, which, however, represents a slight improvement compared to the 1.6% return reported in March 2008 by ...
-
PropertyEU Archive
Software AG chooses CBRE as real estate adviser
Frankfurt-listed IT giant Software AG has selected CB Richard Ellis (CBRE) to provide planning, consulting, transaction management and brokerage services for the company's property portfolio in 50 countries as well as aiding future business expansion.
-
PropertyEU Archive
Testa appoints C&W, JLL to market SYV tower in Madrid
Sacyr Vallehermoso (SyV)'s real estate subsidiary Testa has appointed Cushman & Wakefield and Jones Lang LaSalle to market the office space within the 236 metre high skyscraper it is developing in Madrid's Four Towers Business Area (CTBA). Sacyr is carrying out the work on the tower which will feature a ...
-
PropertyEU Archive
Pirelli Pekao to build new complex in Warsaw
Pirelli Real Estate's Polish joint venture Pirelli Pekao RE plans to develop a new 150,000 m[sup]2[/sup] residential and commercial complex in Warsaw. Pirelli Pekao, in which Pirelli holds a 75% stake and Unicredit's Bank Pekao unit controls the other 25%, said that the first phase of the development will include ...
-
PropertyEU Archive
Prologis completes first lease transaction in Rome
Prologis said on Monday that it has leased 30,400 m[sup]2[/sup] of distribution space in southern Rome to the Italian supermarket chain Coop Italia. The leased space represents 100% of a new distribution facility that Prologis recently completed at its Park Anagni, where the company plans to serve its network of ...
-
PropertyEU Archive
Icade, ING RE sign three contracts with IVG in France
Icade and ING Real Estate said on Monday that they have signed contracts with IVG to develop three buildings within the new Claude Bernard business park in the 19th arrondissement of Paris. The contracts are for the construction of 40,000 m[sup]2[/sup] of office space across three properties. Two of the ...
-
PropertyEU Archive
DTZ hospitality expands into Russia
Real estate adviser DTZ said its hospitality group has expanded into Russia with the appointment of a new Moscow team. The Moscow hospitality group will be headed by director David Jenkins, who was previously director for Russian operations at Horwarth HTL in Moscow. The other five consultants who make up ...
-
PropertyEU Archive
ECC Invest enters Poland with fund launch
ECC Invest, part of the Dutch ECC Group, has said it is launching a new fund that will invest in two residential projects in Poland. The new investment vehicle, ECC Polish residential Fund I, will offer professional investors the opportunity to participate in two large scale developments in Warsaw and ...
-
PropertyEU Archive
Unite receives go-ahead for two student housing schemes
UK student housing company Unite Group has said it has secured planning permission for two developments in the university cities of Oxford and Edinburgh. Overall investment for the two schemes, which comprise a total of 604 student beds, will amount to roughly £57mln (EUR 73mln).
