All Real Assets articles in Web Issue – Page 263
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PropertyEU Archive
Ablon in EUR 280m Bucharest airport development
Aim-listed CEE property firm Ablon Group said on Thursday it had acquired a 133,000 m[sup]2[/sup] plot close to Bucharest's Henri Cuanda airport. The company said it plans to develop a zone of modern ofices and high-tech facilities at the 'Airport City' site, to exploit the increasing commercial activity around the ...
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PropertyEU Archive
German state sells in Germany to Whitehall Funds for EUR 3.4b
Germany's largest state, North Rhine-Westphalia, has sold its residential property company Landesentwicklungsgesellschaft NRW (LEG) to Goldman Sachs' Whitehall Funds for about EUR 3.4bn, marking Germany's largest deal since the credit crunch erupted last summer.
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PropertyEU Archive
Hypo RE finances EUR 44m Invesco hotel fund buy
Hypo Real Estate Bank International said on Thursday is had provided a EUR 44mln financing facility for investment manager Invesco's European Hotel Real Estate Fund's acquisition of the Patio hotel in Aberdeen, Scotland. The city centre hotel, which will be rebranded Hilton Doubletree Aberdeen, has 168 rooms, meeting space, three ...
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PropertyEU Archive
Foster + Partners completes first Amsterdam office building
Architects firm Foster + Partners said it had completed a new headquarters building for accountancy Ernst & Young in the Zuidas district, south of Amsterdam. Commissioned by ING, the 24-storey tower is 10% more efficient than the target environmental standards set by the Dutch government. No financial details were disclosed.
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PropertyEU Archive
Union Investment backs green council's sustainable development pledge
Germany's Union Investment will take sustainability issues into account when making real estate investments, according to Reinhard Kutscher, chairman of Union Investment's board of directors. 'It is important that we anticipate future trends so that we can assimilate them into emerging standards, which in turn will impact on property valuations,' ...
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PropertyEU Archive
Gecina finalises Rexel logistics buy
Gecina said on Thursday it had finalised the acquisition of three logistics platforms from electrical equipment distributor Rexel Group, under the conditions laid down in an agreement signed in March of this year. The French logistics assets, located in Lyons , Nantes and Toulouse, have a total surface area of ...
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PropertyEU Archive
Catella opens office in Poland
Property adviser Catella Property Group has expanded its European network by establishing a new subsidiary in Warsaw. The office is located in the centre of the Polish capital and started its operation on 2 June 2008. Catella said the main reasons for establishing the office were the booming Polish commercial ...
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PropertyEU Archive
OVG to develop TNT's HQ in Hoofddorp
Dutch developer OVG signed an agreement with local government officials at the Provada real estate fair in Amsterdam this week that will see international courier and mail firm TNT to base its headquarters in the 'greenest' office building in the Netherlands. TNT will be the 'launching customer' for the 70,000 ...
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PropertyEU Archive
Chamartin set to enter Italy with 10 shopping centres
Chamartin, a property developer active in Spain, Portugal and Germany, is entering the Italian retail market with the launch of a new shopping centre unit, Chamartin SircoManagement Italial. The Italian subsidiary, a joint venture between Italian developer Sirco Real Estate and Chamartin, will be led by Fabrizio Lombardo Pijola, former ...
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PropertyEU Archive
Sol Melia consortium buys Altavista Hotelera for EUR 103m
A consortium of Spanish hotel chain Sol Melia, bank Grupo Caja Mediterraneo-CAM and two other investors has acquired hotel company Altavista Hotelera for EUR 103mln. Under the agreement, Sol Melia and Grupo Caja Mediterraneo are buying a 40% stake each, while investors Invernostra and Grupo de Negocios Duero will hold ...
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PropertyEU Archive
Hermes RE sells EUR 184m of West End office space
UK property company Hermes Real Estate has exchanged contracts for the sale of the freehold interest in 3/5 Burlington Gardens, London W1, to UK and US-based property company EPIC for over £75mln (EUR 95mln). The deal - reflecting a net initial yield of just over 4% - follows Hermes' successful ...
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PropertyEU Archive
Hilton to open 30 new hotels in the UK
Hilton Hotels announced on Friday that it has signed a strategic alliance with HLH Property to develop up to 30 new hotels in the in the UK over the next five years. This is the Hilton group's third major UK hotel deal with a property partner since it declared the ...
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PropertyEU Archive
Q-Park buys French parking firm for EUR 700m
European parking group Q-Park says it is the second-largest provider of parking space in France and Belgium following the acquisition of French firm, Epolia SAS, for EUR 700mln. Earlier this year Q-Park acquired Epolia's portfolio in Norway.
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PropertyEU Archive
Pantheon Plaza project in Greece 85% let
Portuguese shopping centre specialist Sonae Sierra and London-based Rockspring Property Investment Management have said that their Pantheon Plaza project in the central Greek town of Larissa is 85% let more than four months before the planned opening.
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PropertyEU Archive
Imo Pan to invest EUR 88m in Algarve mall project
Imo Pan Iberian Retail, a property investment fund managed by Portuguese real estate firm Imorendimento, intends to invest EUR 88mln in the development of a new retail scheme in the heart of the tourist region of the Algarve in Portugal.
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PropertyEU Archive
AMB starts first phase of Le Havre logistics development
AMB Property France, an affiliate of global developer and owner of industrial real estate AMB Property Corporation, has started development on 41,500 m[sup]2[/sup] of distribution space near the French port of Le Havre. AMB Le Havre Logistics Park is a two-building, multi-phase development located in the Le Havre submarket. The ...
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PropertyEU Archive
North America lags behind Europe on property investment volumes
Europe surpassed North America in the first quarter of 2008 as the most active market place for property deals. Just over $50bn (EUR 32bn) in significant commercial real estate deals were transacted in North and South America in the first three months of this year, a decline of 67% compared ...
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PropertyEU Archive
Multi Germany wins first ICSC Community Support Award
The International Council of Shopping Centers (ICSC) has presented its first European Community Support Award to the German subsidiary of shopping centre development specialist Multi Corporation. The ICSC said Multi Development Germany won for its 'Multi Talent Programme'.
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PropertyEU Archive
Vasakronan buys and sells from National Property Board
Swedish property company Vasakronan has purchased the Uggleborg 12 property located at Vasagatan in Stockholm from the Swedish National Property Board for SEK 1.3bn (EUR 138mln). Additionally, the company has sold four assets with a total floor space of 14,800 m2, to the National Property Board for a total SEK ...
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PropertyEU Archive
British Land sells Woking centre
British Land has exchanged contracts with a private investor to sell its Woking shopping centre, The Peacocks, for £116mln (EUR 147mln), reflecting a net initial yield of 5.75%. The Peacocks offers a mix of 72 retailers and five anchor stores all located within 92,903 m[sup]2[/sup] of retail and leisure space.
