All Real Assets articles in Web Issue – Page 254
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PropertyEU Archive
Generali fund buys Oleiros mall from Bouygues
Italian insurance group Generali's Real Estate Fund (GREF) has acquired a shopping centre development in Oleiros, A Coruna, in northern Spain from French construction giant Bouygues Inmobiliaria for about EUR 45mln. The property is being built by Bouygues and is scheduled for delivery in the last quarter of 2008. It ...
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PropertyEU Archive
Oberthur leases office building in Paris
Leading software provider Oberthur has signed an agreement with German property firm IVG to lease 4,584 m[sup]2[/sup] of space in an office building in Levallois-Perret, in the northwestern suburbs of Paris.
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PropertyEU Archive
RREEF carries out largest Romanian real estate deal
RREEF, the property arm of Deutsche Bank, has agreed to pay EUR 341mln in the forward purchase of a 410,000 m[sup]2[/sup] mixed development in the Romanian capital of Bucharest. Ioannis Papalekas, the entrepreneur-developer of the properties, is to retain a 22% stake in the scheme. RREEF said the transaction is ...
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PropertyEU Archive
Cofinimmo expands in French healthcare sector
Cofinimmo announced on Monday that it is acquiring 19 nursing homes in France for EUR 144.4mln from French medical group Korian. The investment volume will be financed from existing credit lines and reflects a gross initial yield of 6.55%. The portfolio, including five properties under construction, comprises 1,700 beds over ...
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PropertyEU Archive
Deka Immobilien shops in Hamburg
German bank Deka's property unit Deka Immobilien has acquired two logistics buildings in the Billbrook industrial area of Hamburg for EUR 43mln from German businessman Achim Becker.
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PropertyEU Archive
Lion may drive Hema to Scandinavia
Dutch department store chain Hema, which was acquired by London-based private equity firm Lion Capital last year, is mulling expanding its operations to Scandinavia and Switzerland.
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PropertyEU Archive
Galeria Podlaska secures new tenants
Shopping mall Galeria Podlaska in the Polish city of Bialystok is 85% occupied after several retailers signed new leases, Portuguese real estate adviser Spirit International announced on Monday.
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PropertyEU Archive
Plaza-led JV to go ahead with EUR 1.5b project in Budapest
A consortium of investors including emerging markets developer Plaza Centers has won a licence to build a major casino on a EUR 1.5bn mixed-use development in central Budapest. The Dream Island consortium, in which Plaza holds a 30% stake, said on Tuesday that the granting of the licence will enable ...
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PropertyEU Archive
C&W: European investment falls 37% in Q1
The full force of the credit crunch is now being felt by the European commercial property market, consultant Cushman & Wakefield (C&W) said in a new research report released on Tuesday. Investment volumes in the first three months of 2008 fell 37% compared with the year-earlier period, while ...
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PropertyEU Archive
Pirelli board approves launch of EUR1b European fund
Italian property giant Pirelli Real Estate said on Tuesday that its board of directors has approved the launch of the firm's first European real estate fund. The new fund aims to raise EUR 1bn from investors, but Pirelli did not specify when fundraising efforts are due to begin. The fund ...
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PropertyEU Archive
Quinlan Private fund raises EUR 400m in the US
Irish investor Quinlan Private said on Tuesday it has raised EUR 400mln of equity from US investors for its European Strategic Real Estate Fund. The capital was raised from leading institutional investors, endowments, foundations, life companies and high net worth individuals throughout the US, Quinlan said, noting that the total ...
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PropertyEU Archive
Corestate raises EUR 500m for German residential fund
Zurich-based Corestate Capital said on Tuesday it has raised EUR 486mln from institutional investors for its real estate fund, Corestate German Residential. The investment vehicle targets direct and indirect investments in German residential property for a total volume of around EUR 2bn. According to a company statement, approximately 50% of ...
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PropertyEU Archive
Union Investment acquires office tower in Barcelona
Hamburg-based Union Investment Real Estate has returned to the Spanish office property market for the first time since 2004 with the acquisition of the Torre Diagonal Litoral office building in Barcelona for EUR 84mln. Featuring 260 parking spaces, the fully-let building is earmarked for Union Investment's Immo-Invest: Europa institutional real ...
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PropertyEU Archive
Atisreal appointed exclusive agent for AXA logistics portfolio
BNP Paribas' property services unit Atisreal said on Tuesday it has been appointed exclusive agent for the marketing and commercialisation of a 307,000 m[sup]2[/sup] logistics portfolio owned by French property investment group AXA Real Estate Investment Managers (AXA REIM).
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PropertyEU Archive
Henderson appoints new head of asset management for Herald
Global asset manager Henderson Global Investors has appointed Kay Jackson as head of asset management for its specialist pan-European retail property fund Herald. Jackson, who joined Henderson in 2007, previously worked for CB Richard Ellis and spent six years at Tesco where he managed the joint venture shopping centre portfolio ...
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PropertyEU Archive
JLL appoints first sustainability research director
Jones Lang LaSalle has appointed Franz Jenowein to the newly created position of Sustainability Research Director as part of its commitment to sustainability in the built environment. Jenowein joins the global research team from Accenture, where he worked for 13 years in a number of research and marketing positions.
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PropertyEU Archive
Rabo Bouwfonds chief quits
Dutch property group Rabo Bouwfonds will today announce the resignation of Tjalling Halbertsma as management board chairman due to problems surrounding the integration of Bouwfonds, Rabo Vastgoedontwikkeling and real estate financing arm FGH Bank into a single real estate division, inside sources said.
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PropertyEU Archive
Vastned O/I buys Dusseldorf office building
Pan-European property fund Vastned O/I is boosting its presence in the German market with the purchase of a EUR 30mln office building in Dusseldorf. The acquisition brings the total volume invested in the country to EUR 130mln, representing five investments in Germany. The office, located in one of Dusseldorf's office ...
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PropertyEU Archive
Eurohypo fund management unit in buyout
Two former joint chief executive officers of Eurohypo's investment banking division have left the company and acquired its Financial Services Authority-regulated fund management business. Paul Rivlin and Neil Lawson-May, the two investors buying out the company, said on Tuesday they are renaming it Palatium Investment Management. The new firm plans ...
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PropertyEU Archive
Inrev: German investors pour capital into funds
German institutional investors are increasingly switching billions of euros invested directly in real estate into property funds, the association representing investors in non-listed real estate funds Inrev said on Tuesday. 'It is clear that a major trend is underway with German insurers and pension funds increasingly choosing to invest indirectly ...
