All Real Assets articles in Web Issue – Page 255
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PropertyEU Archive
Hypo RE: JC Flowers' offer undervalues company
Hypo Real Estate's management and supervisory boards said on Tuesday that the offer presented last week by a group of investors led by JC Flowers is below the 'current intrinsic value' of the Munich-based bank. The investors offered to acquire up to 50 million shares, or about 25% of Hypo ...
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PropertyEU Archive
Jean Nouvel wins Tour Signal tender for La Defense
The international tender for the new high-rise building Tour Signal in the La Defense business district of Paris has been awarded to architectural firm Ateliers Jean Nouvel, EPAD, the body overseeing the development of La Defense, said at a press conference in Paris on Tuesday.
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PropertyEU Archive
Skanska to expand British prison for EUR 65.3m
Swedish construction firm Skanska has been awarded a GBP 52mln (EUR 65.3 mln) contract to design and build an extension to the HMP Lowdham Grange prison in Nottinghamshire, UK. The contract was awarded by Serco, which operates and manages the prison on behalf of HM Prison Service.
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PropertyEU Archive
Hermitage to go ahead with 310-m tower in Courbevoie
Hermitage, the French subsidiary of Russia’s Stroïmontage Group, said on Wednesday it has chosen another location for the 310-metre tower development it had initially planned for La Défense’s new iconic building, Tour Signal.
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PropertyEU Archive
Fabege sells two properties for EUR 61m
Swedish property company Fabege has sold the Axet 1 and Bladet 1 properties in Solna to peer Vasakronan for SEK 570mln (EUR 61mln). The properties comprise a total lettable area of 31,650 m2, used primarily as office space. The buyer will take possession of the properties on 2 September 2008. ...
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PropertyEU Archive
STE sells EUR 92m portfolio to UFG
French property firm Société de la Tour Eiffel (STE) has sold a portfolio consisting of three office properties to asset management group UFG for EUR 92mln. The French SIIC has disposed of Massy Campus 2, a 13,600 m[sup]2[/sup] fully-let office building in the southwestern suburbs of Paris close to Orly ...
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PropertyEU Archive
Aberdeen completes GPI deal
Aberdeen Property Investors (API) is set to complete the takeover and rebranding of Goodman Property Investors (GPI) by 31 May. The UK's financial regulator has approved the deal which transforms API into the eighth-largest property fund manager in the world. 'We filed with the Financial Services Authority on a Friday ...
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PropertyEU Archive
Aberdeen fund shops in France and the Netherlands
Aberdeen Property Investors said that its European Balanced Property Fund has acquired properties in both France and the Netherlands for an undisclosed amount. The fund has bought the Omega B office building located in Levallois-Perret, North West of Paris. The property provides 4,780 m[sup]2[/sup] of space let to multiple tenants ...
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PropertyEU Archive
Fortress sells Amsterdam offices to Credit Suisse
Dutch project developer Fortress has sold the Spectrum office building and Teleport Towers in Amsterdam to financial services group Credit Suisse for an undisclosed sum. The acquisitions are earmarked for Credit Suisse's Real Estate International Fund.
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PropertyEU Archive
Rabo Bouwfonds confirms CEO resignation
Dutch property group Rabo Bouwfonds confirmed on Wednesday that Tjalling Halbertsma will resign as management board chairman with effect from 1 June, due to differences of opinion on corporate strategy. Board member Peter Keur will take over his duties on an interim basis until a new chairman is found.
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PropertyEU Archive
East Capital launches new Russian retail property fund
Eastern European asset manager East Capital has launched a new closed-end fund targeting Russian retail properties, the company said on Wednesday. The vehicle, East Capital Russian Property Fund, will invest in shopping centres and retail assets in regional cities with more than 500,000 inhabitants in Russia, Ukraine and Kazakhstan. The ...
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PropertyEU Archive
Citycon to redevelop Helsinki retail centre
Finnish shopping centre developer Citycon said on Wednesday that it has signed a preliminary agreement with the City of Helsinki to purchase four separate sites which have been zoned for commercial and residential development in the Myllypuro district of Stockholm.
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PropertyEU Archive
Nieuwe Steen CEO switches job for CFO post
Management board chairman Anka Reijnen of Dutch property company Nieuwe Steen Investments (NSI) is to trade in her job for that of chief financial officer, the company said on Wednesday. Reijnen, who has headed NSI since 2003, said in a statement that she preferred to be in a position ...
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PropertyEU Archive
Constructa unveils redevelopment for Marseille docklands
France's Constructa Asset Management said it has started the redevelopment of a 66,000 m[sup]2[/sup] site in Marseille's dockland area. The French asset manager, which bought the complex last December in a joint venture with JP Morgan Asset Management from Catalyst Capital, plans to transform the site into an up-to-date business ...
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PropertyEU Archive
C&W: Europe's shopping centre space to rise 20% in 2008-09
The current shopping centre development boom across Europe is set to continue, with more than 22 million m[sup]2[/sup] of new shopping centre schemes expected to open this year and next, according to the latest European Shopping Centres Report by real estate consultant Cushman & Wakefield (C&W).
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PropertyEU Archive
Dawnay, Day Sirius in EUR 121.5m German spree
AIM-listed Dawnay, Day Sirius (DDS) said it has acquired a portfolio of five business parks from German electronics giant Siemens for EUR 98mln. AIM-listed DDS, established to acquire commercial property in Germany, added it had also bought two business parks in the German towns of Kassel and Pfungstadt for EUR ...
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PropertyEU Archive
ProLogis adds EUR 28m to European fund
Euronext-listed logistics property investor ProLogis European Properties said on Thursday it had invested a further EUR 28.2 mln in its ProLogis European Properties Fund II (PEPF II). PEPF II is a private equity fund set up to acquire assets from parent company ProLogis’ development pipeline in Europe. This investment, entirely ...
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PropertyEU Archive
Delta Lloyd launches EUR 280m Dutch property fund
Amsterdam-based Delta Lloyd Asset Management has raised EUR 96mln of equity from institutional investors for its non-listed Dutch REIT, Delta Lloyd Dutch Property Fund. The investment vehicle targets residential, office and retail properties and has an initial portfolio of EUR 280mln. The fund manager expects the fund to increase to ...
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PropertyEU Archive
Grupo Prisa sells Spanish portfolio for EUR 315m
Spanish media group Promotora de Informaciones (Prisa) has sold a portfolio consisting of three office buildings in Madrid and Barcelona for EUR 315mln in a transaction generating capital gains of EUR 242mln, Prisa said. The properties were purchased by Spanish real estate investment company Drago Real Estate in a ...
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PropertyEU Archive
Redevco sells French assets for EUR 75m
Dutch property company Redevco has signed an agreement to sell 19 assets in France to a fund managed by Cleaveland for a total EUR 75mln. The portfolio consists of nine retail shops in Paris, a retail park in Ile de France, two logistics warehouses in the Lyon region and three ...
