All Real Assets articles in Web Issue – Page 252
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PropertyEU Archive
Axa Reim fund acquires EUR 21m logistics asset
A logistics fund managed by Axa REIM has acquired a Logicpark Fresh storage facility in Garching near Munich. The fully let property was sold by the Logicreal Group for an investment volume of about EUR 21mln. Developed on a 23,000 m[sup]2[/sup] site, the multi-user building was completed at the end ...
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PropertyEU Archive
St Martins buys London's Willis Building for £400m
St Martins, the property arm of the Kuwait Investment Authority, has exchanged contracts with British Land to acquire the iconic Willis building in the City of London for £400mln (EUR 500mln). The sale is expected to be finalised by June.
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PropertyEU Archive
St Modwen submits plans for £750m Longbridge scheme
UK regeneration specialist St Modwen has submitted four planning applications to carry out a £750mln mixed-use redevelopment project at Longbridge near Birmingham. The company said in a statement the landmark regeneration, which is jointly owned by St Modwen and the Regional Development Agency Advantage West Midlands, will include around 180,00 ...
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PropertyEU Archive
Orco to acquire major Moscow mall development
Orco Property Group has carried out what is probably its largest deal in Russia to date by agreeing to forward purchase a major shopping centre development in an upmarket district of western Moscow.
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PropertyEU Archive
Bilfinger Berger acquires FM business
German construction firm Bilfinger Berger said on Wednesday that it has expanded its services business with the acquisition of M+W Zander's facility management activities from the Austrian group Victory Industriebeteiligungen. In a statement, the company said that the output volume of its facility services will double to more than EUR ...
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PropertyEU Archive
Norwegian Property to consider rival bids for Norgani
Norwegian Property said on Wednesday it is still in talks with the consortium of unnamed buyers regarding the sale of Norgani Hotels chain, but added that it is to consider other expressions of interest after the exclusivity period with the original bidding group expired.
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PropertyEU Archive
Siram boosts facility management business
Italian services firm Siram said on Wednesday it has acquired 100% of property management and facility management group Gefi Servizi Immobiliari (GSI). GSI, which is led by Ezio Bigotti, has about 170 employees and posted a turnover last year of EUR 45mln. 'With the acquisition of GSI, we have positioned ...
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PropertyEU Archive
Eiffage said to mull buy of Vitalia business
French property development company Eiffage is one of the candidates to acquire Vitalia, France's second-largest private healthcare group, newspaper Les Echos has quoted deputy chief executive Francois Masse as saying.
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PropertyEU Archive
LaSalle unveils Chinese logistics JV
LaSalle Investment Management has announced a joint venture agreement with the Italian listed logistics group Realty Vailog to acquire and develop logistics facilities in the Greater Shanghai Region on behalf of LaSalle Asia Opportunity Fund III.
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PropertyEU Archive
Invesco teams up with France's Ciloger in fund JV
Investment manager Invesco Real Estate and French fund manager Ciloger have formed a partnership to launch a new range of pooled real estate investment vehicles known as OPCI (Organisme de Placement Collectif Immobilier).
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PropertyEU Archive
M&B outlines REIT conversion plan
UK pub chain Mitchells & Butlers (M&B) has said it will convert to a real estate investment trust (REIT) as soon as market conditions are 'suitable.' The company said the move will 'more fully capture the value of its property estate'. M&B, which owns 2,000 pubs across the UK, added ...
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PropertyEU Archive
Rockspring shops in London
Rockspring Property Investment Managers has acquired the freehold interest in a Homebase property in Walthamstow's district of London from Morley Pooled Pension Fund for £16.6mln (EUR 21mln). The deal reflects a net initial yield of 6.15%. The property is earmarked for Rockspring TransEuropean LP IV.
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PropertyEU Archive
Beni Stabili sells Milan asset for EUR 120m
Italian listed property firm Beni Stabili said on Thursday it has agreed to sell a building located in the centre of Milan to a private investor for EUR 120mln. The book value of the property at end-2007 was EUR 100mln, the company said in a statement. The office building, which ...
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PropertyEU Archive
Ferrovial's BAA closes sale of WDF for £547m
Spanish construction and services company Ferrovial said its BAA unit has completed the sale of World Duty Free Europe (WDF). Under the agreement, Italy's chain of motorway shops Autogrill paid £547mln (EUR 690mln) for the duty free store business, plus £15.7mln in accrued interest. Debt-laden Ferrovial said the sale is ...
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PropertyEU Archive
Unibail-Rodamco completes EUR 607m buy of Vienna mall
Franco-Dutch property giant Unibail-Rodamco said on Thursday it had completed the acquisition of 140,400 m[sup]2[/sup] in Vienna’s Shopping City Sud, Austria's largest retail and leisure complex. The company first announced in December 2007 that it was buying the shopping centre from the private family trust Hans Dujsik Privatstiftung. The transaction ...
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PropertyEU Archive
Metrovacesa sells housing portfolio to Lazora for EUR 65m
Spanish property company Metrovacesa has agreed with real estate firm Lazora on the sale of a portfolio of state-subsidized housing for EUR 65mln. The property giant has sold 153 dwellings in Alcorcón, another 152 in Valdebernardo, and 134 residential units in Pavones, near Madrid. The assets provide a total 38,430 ...
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PropertyEU Archive
Baltic Property Trust acquires Tallinn office building
Copenhagen-headquartered Baltic Property Trust said it had acquired an office building in the Estonian capital Tallinn for an undisclosed sum. The property, which is known as the Marat'building, is scheduled to under a renovation of its facade, while two additional stories will be built along with parking facilities.
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PropertyEU Archive
BPT's Optima acquires Marat office building in Estonia
Baltic Property Trust's closed-end real estate fund Optima has acquired an office building located in the centre of Tallinn, Estonia, for an undisclosed amount. The property, which is known as the Marat building, is set to undergo a façade renovation, as well as the addition of two floors and a ...
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PropertyEU Archive
Colliers launches Albanian office
International real estate consultancy firm Colliers International said on Thursday it had opened a new office in Albania. The property advisor is currently active in the country with its keynote project, the City Park Tirana shopping centre.
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PropertyEU Archive
Redevco builds commercial centre in Antwerp
Redevco's Belgian office has developed a new 15,475 m[sup]2[/sup] commercial centre in Wilrijk, south of Antwerp. The centre is adjacent to an Ikea store along one of the country's main commercial routes. Besides housing the largest Media-Saturn store in the country (7,600 m[sup]2[/sup] Gross Lettable Area divided over two floors) ...
