All Real Assets articles in Web Issue – Page 26
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PropertyEU Archive
Irish groups buys Dutch offices for EUR 46 mln
Blackrock International Land has acquired a portfolio of six office buildings in the Netherlands for a total consideration of EUR 46.5 mln. The properties located in The Hague, Nijmegen, Tilburg and Maastricht comprise a total of 24,270 m[sup]2[/sup].
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PropertyEU Archive
Hemisferio acquires 5% stake in Metrovacesa
Spanish savings bank Bancaja has sold its 5.176% stake in Metrovacesa to the local investment company Hemisferio for EUR 632 mln. Bancaja said it sold almost 5.27 million Metrovacesa's shares at EUR 120 each, meaning Metrovacesa's chairman Joaquin Rivero has lost an ally, Spanish newspaper Cinco Dias has ...
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PropertyEU Archive
SFL sells EUR 53 mln Paris property to fund
Societe Fonciere Lyonnaise (SFL) has sold a mixed-use property at 3 rue de la Boetie in the 8th arrondissement (district) of Paris to a fund managed by Lasalle Investment Management for EUR 53.25 mln.
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PropertyEU Archive
Citycon acquires Swedish mall for EUR 60 mln
Citycon is acquiring the Tumba Centrum shopping centre in the municipality of Botkyrka, south of Stockholm from Doughty Hanson & Co for SEK 550 mln (around EUR 60.8 mln). The deal is expected to close by the end of January 2007. On the acquisition date, the shopping centre's initial net ...
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PropertyEU Archive
Deutsche EuroShop, ECE acquire Bavarian mall
Deutsche EuroShop has said it has acquired a 75% stake in shopping centre Stadt-Galerie Passau in Bavaria for around EUR 95 mln. ECE Group is the investment partner on the deal and will be responsible for planning, development, leasing and center management. Deutsche EuroShop said this transaction meant it has ...
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PropertyEU Archive
Riofisa in talks to acquire property company
Riofisa is in advanced talks to acquire a property company in Central Europe, Spanish national newspaper El Pais has reported, citing the financial manager Miguel Rodriguez. Riofisa, Spain's largest shopping centre developer, wants to acquire a company abroad to expand in Europe and an agreement may come in the first ...
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PropertyEU Archive
Pirelli RE acquires facility management firm
Pirelli RE has acquired Ingest Facility, a facility management company, for EUR 50 mln, the Italian real estate giant has announced in a press release. Pirelli RE Facility Management, a subsidiary of Pirelli RE, has been awarded the bidding for Ingest Facility, a listed company owned by the Fiat Group, ...
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PropertyEU Archive
C&W's Russian office advises on Gazpom-city
Cushman & Wakefield Stiles & Riabokobylko, the Russian office of the global property consultant, has been appointed by Gazprom Neft Invest to advise on the preliminary construction concept for Gazprom-City, a new business and administrative centre in the Russian city of St Petersburg.
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PropertyEU Archive
Brixton, Liberty shareholders agree REIT conversion
UK property companies Brixton and Liberty International have separately announced amendments to their articles of association have been passed by extraordinary general meetings to allow them to convert to real estate investment trust status (REIT).
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PropertyEU Archive
Beni Stabili sells assets
Italian real estate company Beni Stabili has announced it has sold two commercial assets and a residential portfolio owned by Beni Stabili's Comit Fund. The two office properties, purchased by the listed property group Investitori & Partner Immobiliari, are located in Milan, Beni Stabili said in a press release. The ...
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PropertyEU Archive
Italy's REIT 'not beneficial' for foreign companies
Italy's Senate has approved legislation to introduce tax-efficient real estate investment trusts (REITs) as part of the 2007 Finanziaria budget law. The vote in the Senate took place on Saturday and the next step is for the Finanziaria to get final approval by the Camera dei Deputati this week, Italian ...
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PropertyEU Archive
BSR Europe buys into Warsaw Marriott
BSR Europe, a subsidiary of Israeli property company BSR Europe, has teamed with a Polish and a French company to buy the Warsaw Marriott hotel for EUR 118 mln. Each of the partners owns one third of the hotel, Globes Online has reported. The partners are financing EUR 66 ...
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PropertyEU Archive
X-Leisure sells home of Europe's largest casino
Capital & Regional has said that its X-Leisure fund has exchanged contracts unconditionally to sell Star City in Birmingham to REIT Asset Management for £85.5 mln (about EUR 127 mln). Completion of the transaction is set for January 18, 2007.
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PropertyEU Archive
Klemurs beefs up with 128 Buffalo Grills
Within two weeks of its public listing, real estate company Klemurs has finalised the acquisition of 128 Buffalo Grill restaurants in France. Klemurs said ion a statement on Tuesday that it expects to generate net full-year rents of EUR 18.7 mln for a total investment of EUR 299.8 mln.
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PropertyEU Archive
Kungsleden acquires retail-shed portfolio for EUR 62.5 mln
Kungsleden, the Swedish property company, has announced it is acquiring 13 retail and warehousing properties in Sweden from retailer Runsven Group for SEK 565 mln (EUR 65 mln).
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PropertyEU Archive
Intesa bank acquires 5% stake in NH Hotels
Italian bank Intesa has acquired a 5% stake in NH Hoteles for EUR 95 mln, unnamed financial sources have told Spanish news agency Europa Press.
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PropertyEU Archive
Brixton sells Tipton estate for EUR 52 mln
Brixton, the UK property developer and manager, has sold its stake in the Vaughan Trading Estate at Tipton, Birmingham, to the Kenmore Group of Companies for £35.75 mln (EUR 52.7 mln).
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PropertyEU Archive
Metrovacesa acquires EUR 53 mln tourist complex
Spanish property group Metrovacesa has acquired two hotels for EUR 53 mln in Spain, one near Barcelona and the other in Fuerteventura. In a press release, Metrovacesa said the first hotel will provide 118 rooms when it opens February 2008.
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PropertyEU Archive
AAM to re-launch Giulia shopping centre
Aareal Asset Management has completed the redevelopment of Giulia shopping centre in the northern Italian city of Trieste. Built in 1992, Giulia was the first shopping centre in the city and is conveniently located in a central and densely populated neighbourhood. The development provides 50 retail units over the 15,200 ...
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PropertyEU Archive
Aberdeen builds European property fund portfolio
Aberdeen Property Investors Indirect Investment Management (API IIM), part of Aberdeen Asset Management's property division, has signed a segregated account agreement with the Third Swedish National Pension Fund (AP3) for approximately EUR 250 mln.
