All Real Assets articles in Web Issue – Page 246
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PropertyEU Archive
Hypo Real Estate Q1 profits decline due to market turmoil
Munich-based Hypo Real Estate has announced a 38% drop in first quarter pre-tax profits to EUR 190mln from EUR 304mln the year before largely due to writedowns on bad investments. Without the amount from a mandatory convertible bond issued in connection with the acquisition of Dublin-based German lender Depfa, Hypo’s ...
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PropertyEU Archive
Sponda Q1 profits surpass analysts predictions
Finnish property company Sponda has reported first quarter operating profit of EUR 46.5mln, a significant drop on the EUR 103.4mln result in the same period in 2007 - but still ahead of forecasts. The higher than expected results were due to improved occupancy rates and higher average rents. Analyst forecasts ...
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PropertyEU Archive
Chagala shows revenue rise of 18%
Chagala Group, the London-listed Kazakh real estate developer-owner, has announced its revenues rose 18% to $22.07mln (EUR 14.24 mln) in the first year as a listed company from EUR 12.1mln in 2006. Operating profit increased by 20.3% to EUR 3.87mln from EUR 3.22mln. Pre-tax profit dropped 13.8% to EUR 1.35mln. ...
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PropertyEU Archive
Austrian property turns in 'robust' performance in 2007
The Austrian All Property total return for 2007 was a 'robust' 6.8%, the IPD said on Tuesday. The return was the highest posted since the beginning of the index and constituted an increase of 10 basis points on 2006.
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PropertyEU Archive
Aberdeen buys Goodman Property Investors
Aberdeen Asset Management announced on Tuesday that its European property subsidiary, Aberdeen Property Investors (API), is acquiring Goodman Property Investors, the largest independent property fund manager in the UK, from the Goodman Group for EUR 130mln. Aberdeen's CEO Martin Gilbert said the deal, which is dependent on approval of the ...
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PropertyEU Archive
Balfour Beatty acquires Blackpool International Airport
Balfour Beatty has acquired 95% of Blackpool International Airport in the UK from Belfast-based developer Mar Properties for £14mln (EUR 17.76mln). The transaction is being made through the Balfour Beatty's specialist airport investment and development group, Regional and City Airports (RCA). Some 5%of shares are held by Blackpool Borough Council, ...
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PropertyEU Archive
Baltic Property Trust fund acquires Warsaw office tower
Baltic Property Trust's BPT Optima fund announced on Tuesday that it had successfully concluded negotiations to acquire the 3,800 m[sup]2[/sup] Dominanta Praska building in Warsaw for an undisclosed sum.
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PropertyEU Archive
Jelmoli gets backing to create separate listed real estate unit
Swiss retail group Jelmoli has received backing from its principal shareholder, Pelham Investments, to create separate real estate and investment companies. The new companies will be listed on the Swiss Stock Exchange.
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PropertyEU Archive
Wealth Management Capital buys German technology park
Wealth Management Capital has acquired the Hubschrauber technology park in Donauworth, Bavaria from a joint venture of German bank IKB and Dusseldorf-based real estate manager MFRSI for an undisclosed sum. WMC, a unit of German bank Bayerische Hypo- und Vereinsbank, was advised by property consultants Savills and CVV.
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PropertyEU Archive
Epra makes plea for standard reporting
Europe's property companies need to move toward standard reporting practices to enable investors to transparently compare firms across the industry, the European Public Real Estate Association (Epra) has said at the launch of its Best Practices Policy Recommendations.
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PropertyEU Archive
Prologis to develop 80,000 m[sup]2[/sup] green distribution facility in Zaragoza
Prologis is to develop and lease an 80,000 m[sup]2[/sup] distribution centre in northern Spain to Bosch-Siemens Home Appliances (BSH). The new warehouse will be one of the largest sustainable build-to-suit projects developed by the company in Europe. The sustainable design features and technology includes roof mounted solar panels, rainwarter ...
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PropertyEU Archive
AREF: UK property fund outflows halved in Q1
Net capital outflows from British property funds slowed in the first three months of 2008 to £500mln (EUR 634mln), down 60% on the previous quarter according to new research released on Wednesday by the Association of Real Estate Funds (AREF).
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PropertyEU Archive
ING fund buys 23,819 m[sup]2[/sup] of logistics space in France
A joint venture of Wal Mart's warehousing unit Gazeley and real estate group CalEast Global Logistics has announced the sale of a 23,819 m[sup]2[/sup] logistics complex located in the G. Park Canly dans l'Oise, 70 km north of Paris, to ING Real Estate European Industrial Fund (ING REEIF). The financial ...
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PropertyEU Archive
Schroder fund buys EUR 48m logistic portfolio
Schroder Property Investment Managers said that its closed-end real estate fund Eurologistic Fund I has signed a purchase agreement for two fully let logistics assets located in Bologna and Novara, Italy, for around EUR 48mln. Completed in 2005, the properties provide some 61,000 m[sup]2[/sup] of space. Schroders said in a ...
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PropertyEU Archive
Klemurs buys 77 retail outlets across France
Klepierre's listed subsidiary Klemurs has acquired a portfolio of 77 retail outlets across France from French property company Fonciere Montel and retail footwear group Vivarte for EUR 104mln. The transaction, which was first agreed in December 2007, involves a total 87 outlets to be purchased this year, of which Klemurs ...
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PropertyEU Archive
Credit Agricole, ING RE launch Horizon Sud project in Evry
The real estate development units of Credit Agricole Immobilier and ING Real Estate are joining forces in the construction of the new Horizon Sud residential-led project in Evry, near Paris. ING and Credit Agricole said in a joint statement that the urban regeneration project is in line with the strategy ...
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PropertyEU Archive
BAM in consortium bidding to develop ECB tower in Frankfurt
Dutch construction company BAM is one of the candidates bidding to build the new headquarters of the European Central bank in Frankfurt, according to the Dutch financial newspaper het Financieele Dagblad. The paper reported that BAM Deutschland together with construction firm Zublin is part of a consortium that has passed ...
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PropertyEU Archive
Shift in German office market locations, Colliers TK
Demand for office space in Germany is increasing in the Central Business Districts (CBD) and central areas, according to property advisers Colliers Trombello Kolbel. The advisers also found that the shift in demand is affecting both the letting and the investment market equally.
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PropertyEU Archive
WDP puts first solar power installation into service
Closed-end real estate investment fund WDP has put its first solar power installation into service with the help of energy supplier Nuon Belgium. The building at the WDP site in Grimbergen has over 3,000 solar panels on its roof and can generate 570 kWp (kilowatt peak).
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PropertyEU Archive
Savills reports slide in UK investment volumes
Savills said said trading conditions for its UK and US commercial capital markets businesses have continued to be challenging with volumes down on the comparable period in 2007
