All Real Assets articles in Web Issue – Page 256
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PropertyEU Archive
NIBC, Heijmans Vastgoed sells EUR 80m project in Eindhoven
Dutch real estate firm Heijmans Vastgoed and merchant bank NIBC have sold the second phase of their Rond de Admirant project in Eindhoven for about EUR 80mln. The asset was jointly acquired by Stichting Spoorwegpensioenfonds, and Stichting Pensioenfonds Openbaar Vervoer, two Dutch pension funds for the transport sector, together with ...
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PropertyEU Archive
Curzon/AEW Europe raises EUR 800m for European fund
European real estate investment manager Curzon/AEW Europe said on Thursday it has completed its largest-ever capital raising for a new fund. The European Property Investors Special Opportunities fund, which aims to pick up attractive deals amid falling valuations in the sector, has closed with just under EUR 800mln in equity ...
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PropertyEU Archive
Five European projects selected at ULI awards
Five developments have been selected to represent Europe at the Urban Land Institute's global excellence awards ceremony in Miami later this year. The five winners were unveiled at ULI Europe's European Trends conference in Stockholm on Thursday. European jury chairman Ian Hawksworth said they were chosen from 11 candidate projects. ...
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PropertyEU Archive
RICS: Investors take a step back from emerging Europe
Investors are pulling out of emerging Europe as they struggle to overcome financial liquidity constraints, according to the latest RICS Global Property Survey released on Thursday. Transaction activity plummeted at the fastest pace of any developing region in the first quarter of 2008, despite emerging European markets continuing to see ...
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PropertyEU Archive
GE RE joins BNP Paribas in pan-European hotel fund
GE Real Estate said on Thursday that it is has teamed up with BNP Paribas Assurance as a founding partner of Capital France Hotel (CFH), a hotel investment fund which is managed by the French asset management subsidiary of Belgium's Algonquin. The two partners intend to grow CFH's assets under ...
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PropertyEU Archive
Buyers should 'rest' this year, ULI conference hears
Buyers of real estate in the UK and Continental Europe should take the rest of the year off as they won't miss much, the ULI European Trends conference in Stockholm has heard. Taking part in a panel session called 'Rethinking the Future - Seeing beyond the Clouds', Roger Orf, managing ...
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PropertyEU Archive
CBRE: London still most expensive office market
London’s West End is still the world’s most expensive office market, while rapidly rising Moscow climbed to second place, according to the latest semi-annual Global Market Rents survey by property adviser CB Richard Ellis. The report tracks world markets with the highest and fastest-growing occupancy costs for the 12 months ...
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PropertyEU Archive
Spanish housing crisis deepens
The Spanish residential market shows no signs of recovering. According to figures released this week by the National Statistics Institute (INE), the number of house sales in the country plummeted by almost 40% year-on-year in March 2008, to about 46,000 units. This compares with a drop of 24% registered in ...
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PropertyEU Archive
Multi starts development of Czech mall
Dutch shopping centre developer Multi Development celebrated the groundbreaking ceremony on Thursday for its Forum Ústí nad Labem, a 24,000 m[sup]2[/sup] regeneration scheme in the Czech city of Ústi. Construction is expected to be completed during the autumn of 2009. 'Forum Ústí nad Labem will create a new and intimate ...
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PropertyEU Archive
Bids for Trillium come in below £1.4bn valuation
Three preliminary bids for Trillium, the property outsourcing arm of Land Securities, have come in below a £1.4bn (EUR 1.8bn) valuation, according to a report in PropertyWeek, increasing the likelihood that the UK company could go forward with an alternative to float Trillium on the stock exchange at a later ...
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PropertyEU Archive
Orco swings to EUR13m loss in Q1
Central European property firm Orco Property Group said its revenues slipped 19.5% to EUR 47mln in the first quarter of 2008, resulting in a net loss of EUR 13mln compared to a profit of EUR 400,000 in the year-earlier period. Earnings before interest taxes depreciation and amortisation (EBITDA), at EUR ...
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PropertyEU Archive
Swedwood completes EUR 135m complex in Portugal
Swedwood Group, Ikea's wholly-owned industrial unit, inaugurated its first industrial complex on the Iberian peninsula on Friday. The project in Paços de Ferreira in northern Portugal involves an investment of more than EUR 135mln and has created around 550 jobs.
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PropertyEU Archive
Cap & Reg in £286m fundraising for Mall fund
UK property asset manager Capital & Regional said on Friday that its Mall fund is seeking to raise £286mln (EUR 363mln) in new equity at a price of 101 pence per unit from existing investors. This represents a discount of 45% to the April unit price, Cap & Reg said ...
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PropertyEU Archive
Eurohypo: 'German open-ended funds have EUR 30b warchest'
German open-ended real estate funds are well positioned to take advantage of the current market cycle, according to research published by Frankfurt-based real estate bank Eurohypo. The funds have EUR 20-30bn to spend from recent inflows and the proceeds from massive disposal programmes. Looking ahead, Eurohypo said there could ...
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PropertyEU Archive
IGD shops in Gorizia with EUR 50m retail buy
Italian real estate investment trust IGD SIIQ said on Friday it has signed a preliminary agreement to acquire a shopping gallery in Gorizia, in northeastern Italy, on the border with Slovenia, for EUR 49mln. IGD, which is the first firm to convert to the tax-efficient REIT status in Italy, plans ...
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PropertyEU Archive
Trigranit begins work on EUR 510m development in Romania
Hungarian Developer Trigranit said the cornerstone has been laid for a major mixed-use development in Cluj Napoca, Romania. The development, known as Cartierul Tineretului, will see the creation of a new residential district in Cluj Napoca on a 230-hectare site.
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PropertyEU Archive
Skanska to invest EUR 70m in Copenhagen project
Swedish construction giant Skanska said on Friday it is investing about EUR 70mln to develop the new Havneholmen office tower in central Copenhagen. The office project, comprising about 18,500 m[sup]2[/sup] of space, is scheduled to be completed in mid-2010.
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PropertyEU Archive
Cofinimmo secures tenant for 75% of Brussels building
Belgian listed property company Cofinimmo said it has secured an information technology company as a tenant for 75% of the total building space in its Woluwe 102 office building in Brussels. Cofinimmo said it had signed a nine-year lease with the tenant for the space in the building, which is ...
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PropertyEU Archive
Spanish developers call for action on housing crisis
Spanish real estate developers have called on the government to take financial measures to combat the downturn in the housing sector. Jose Manuel Galindo, president of Madrid's real estate developer association Asprima, told news agency Europa Press that the Spanish government should help guarantee stable economic growth in the country.
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PropertyEU Archive
SPDE receives planning approval for Fornebu project
Norwegian listed property company Scandinavian Property Development (SPDE) said its Fornebu Senter shopping centre development in Norway has received planning approval from the Bærum Municipal Council, paving the way for the draft of the development plan for the 24,000 m[sup]2[/sup] centre. SPDE said it expects to start construction of the ...
