All Real Assets articles in Web Issue – Page 251
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PropertyEU Archive
Occupier demand still rising - Segro
Occupier demand is rising in spite of continued weakness in the UK's real estate investment market, according to Segro, the London-listed flexible business space REIT.
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PropertyEU Archive
Fortis sells three office properties in the Netherlands
The real estate management unit of Fortis bank has sold an office portfolio of three assets in the Netherlands to a private investor. The portfolio provides about 25,735 m[sup]2[/sup] of office space in the Dutch cities of Tiel, Rijswijk, and Apeldoorn. The investment volume comes to EUR 44mln. Cushman & ...
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PropertyEU Archive
AMB Property pre-leases 5,000 m[sup]2[/sup] to Fiskars
AMB Property France, an affiliate of industrial developer AMB Property Corporation, has announced that it has pre-leased approximately 5,000 m[sup]2[/sup] of its AMB Villebon Industrial Center development to Fiskars Brands France. Fiskar, a global marketer and manufacturer of value-added, branded consumer and commercial products, will use the site as its ...
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PropertyEU Archive
Parcolog acquires 49,000 m[sup]2[/sup] logistics building in Rennes
Groupe Generali's logistics unit Parcolog has acquired a logistics complex developed by Logidis, part of the Carrefour group. Logidis is leasing back the asset from Parcolog, the company said in a statement. The new building, located west of Rennes, provides 49,000 m[sup]2[/sup] of space, of which 6,000 m[sup]2[/sup] of offices ...
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PropertyEU Archive
Aareal Bank sells EUR 1.5b loan portfolio to Postbank
German bank Aareal has sold a EUR 1.5bn portfolio of private construction financing to Deutsche Postbank. The parties agreed not to disclose the purchase price but Aareal said the transaction will not have any impact on its annual result. The deal is subject to approval by antitrust authorities as well ...
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PropertyEU Archive
AFI sells Moscow office building for EUR 133m
London-listed Russia-based AFI Development, a subsidiary of Africa Israel Investments, has announced the sale of the Aquamarine II office building in central Moscow for $207mln (EUR 133mln). The implied exit yield was 6.8%. The 16,372 m[sup]2[/sup] nine-storey Class A office building has a leasable area of 12,678.5 m[sup]2[/sup]. It is ...
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PropertyEU Archive
CEE property posts weaker total return in 2007
The total return for Central and Eastern European real estate in 2007 was the weakest result since the IPD began calculating its CEE index in 2005. The index recorded a total return of 13.6% in 2007, down from the 18% total return in 2006.
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PropertyEU Archive
RICS launches 2008 salary survey
The Royal Institute of Chartered Surveyors (RICS) and recruitment consultancy Macdonald & Company have launched the second annual salary and benefits survey for property professionals in continental Europe.
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PropertyEU Archive
Schroder fund completes EUR 50m deal in Rome
Schroder Eurologistic Fund I, a closed-end fund managed by Schroder Property Investment Management, has completed the acquisition of a logistics site located in Fiumicino, close to Rome's International Airport, for over EUR 50mln. The fully let building is part of a 350,000 m[sup]2[/sup] logistic park. The acquisition reflects a net ...
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PropertyEU Archive
ING RE acquires three assets in France
ING Real Estate said on Tuesday that it has acquired two office properties in France for approximately EUR 70mln. The assets are earmarked for ING Real Estate's Office Fund. The fund bought Le Millenium 1, a multi-tenant building covering 6,873 m[sup]2[/sup] of office space and 110 parking spaces, located in ...
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PropertyEU Archive
Jones Lang LaSalle completes Kemper's acquisition
Property adviser Jones Lang La Salle said on Tuesday that it's German retail business Kemper's Jones Lang LaSalle Retail group is now the market leader in the country. JLL's takeover of Kemper's has received regulatory approval and the retail unit now has 220 employees in nine German locations.
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PropertyEU Archive
Cushman appointed leasing agent for Lodz office project
Property consultant Cushman & Wakefield has been named exclusive leasing agent for a revitalised Lodz tenement house that will offer modern office space. The investor and developer of the project is Lodz-based Orange Property Group, part of Ireland's Gleeson Property Group. The building contains 1,200 m[sup]2[/sup] of leasable space. Total ...
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PropertyEU Archive
Regus aims to double presence in Benelux
Flexible office space provider Regus aims to more than double its number of business centres in the Benelux region by 2010. Eduard Schaepman, managing director of Regus Benelux, says the global provider will boost its presence in the region from 41 centres at present to 100 by 2010. The next ...
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PropertyEU Archive
ECE buys Allianz's shopping centre management unit
German shopping centre developer ECE Projektmanagement is acquiring Allianz Immobilien's shopping centre management business Allianz CenterManagement (ACM). Allianz said in a statement that ACM will operate under a new name as a subsidiary of ECE's GB Immobilien. The company will retain the management of Allianz's existing shopping centres as well ...
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PropertyEU Archive
British Land prepares to ride out downturn
UK REIT British Land has announced a decrease in portfolio value of 10% in 2007 along with a 20% drop in net asset value per share. On the plus side the company's underlying earnings per share were up 23%, driven by strong demand, high occupancy, rising rents and controlled costs. ...
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PropertyEU Archive
Metrovacesa brokers deal with L&G for Walbrook Square
Spanish property company Metrovacesa said it has reached an agreement with UK fund manager Legal & General that will allow the Madrid-based firm to advance the development of one of the largest City of London office schemes. In a statement to the Spanish securities regulator, Metrovacesa said late on Monday ...
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PropertyEU Archive
Derwent London sees continuing occupier demand
Derwent London, the Central London focused REIT, has seen an increase in occupier demand, with 1,900 m[sup]2[/sup] leased during the first quarter of 2008 and a further 3,400 m[sup]2[/sup] leased since the end of March. The leasing represent an annual rental income of £1.6 mln (EUR 2mln).
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PropertyEU Archive
HSH Real Estate raises stake in LB Immo Invest
Hamburg-based HSH Real Estate has announced the acquisition of 33.3% of LB Immo Invest from property company Real I.S., raising its stake in the capital investment company to two-thirds. According to Marc Weinstock, CEO of HSH Real Estate, the company eventually intends to acquire 100% of LB Immo Invest and ...
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PropertyEU Archive
Kenmore: underlying fundamentals holding up
Kenmore European Industrial Fund has reported a drop in the underlying real value of its property portfolio of 1.78% to EUR 568mln. At the end of the quarter the fund had debt levels representing gearing of 60% based on gross assets, well below the 70% gearing listed in the company's ...
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PropertyEU Archive
Hahn starts marketing for Pluswertfonds 144
Hahn Group has started selling share in its closed-end Pluswertfonds 144 fund to private investors. The investment specialist for large-scale retail properties said the fund comprises a 5,280 m[sup]2[/sup] property that houses a superstore and a retail warehouse in the southern German city of Ravensburg. The tenants of the fully ...
