All Real Assets articles in Web Issue – Page 268
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PropertyEU Archive
JC Flowers nears 20% stake in Hypo RE
US buyout firm JC Flowers has said that it has received offers from shareholders to tender almost 20% of the share capital of German bank Hypo Real Estate. The New York-based company held 18.54% of Hypo RE on 20 June.
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PropertyEU Archive
Breevast, Immobel purchases Dexia's 25% stake in RAC
Belgian companies Breevast and Compagnie Immobiliere de Belgique (Immobel) have bought Dexia Bank's 25% stake in Rac Investment Corp, owner of the State Administrative Centre in Brussels, known as the Rijks Administratief Centrum. Breevast and Immobel said that they will jointly develop the site in the city centre into a ...
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PropertyEU Archive
AXA REIM buys Accor hotel portfolio for EUR 470m
AXA REIM has completed the acquisition from hotel group Accor of the first tranche of a portfolio of 57 hotels in France and Switzerland. The transaction stems from an agreement signed by AXA REIM and Accor in December 2007. AXA REIM was acting on behalf of a consortium of investors ...
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PropertyEU Archive
Omnium Finance buys 49.9% of Uffi AM and Laforet
French investor Omnium Finance is buying a 49.9% stake in property companies Uffi Asset management and Laforet Immobilier. The remaining 50.1% stake is being retained by the two companies' shareholding group led by Michel K. Moubayed.
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PropertyEU Archive
East Capital acquires 50% of Avec Asset Management
Stockholm-based East Capital said on Monday that it has acquired the 50% stake it didn't already own in Avec Asset Management from its joint venture partner Arco Vara. Founded in 2005, Avec manages two real estate funds with a total value of EUR 200mln - Avec Baltic Property Fund and ...
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PropertyEU Archive
Irish Life acquires Brussels property from Herpain-Urbis
Herpain Urbis acquired the Geneve 4 office scheme in Brussels from social services firm Securex before selling it to Irish Life Assurance a short time later for an undisclosed sum. CBRE advised Irish Life on this transaction. Herpain Urbis is the property development firm formed from the merger of Herpain ...
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PropertyEU Archive
Cofinimmo shares admitted to Euronext Paris
Belgian real estate company Cofinimmo announced on Monday that its shares have been admitted to trading on Euronext Paris. The investor in office, pub and nursing home properties has been listed on the stock exchange in Brussels (now Euronext Brussels) since 1993 and has a current market capitalisation of EUR ...
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PropertyEU Archive
BPT Hansa sets up German HQ for Wartsila
Danish investor Baltic Property Trust (BPT) and German property company bauwo Grundstucks have agreed to develop an extension to the headquarters of Wartsila Deutschland. The German company is part of the listed Finnish Wartsila Corporation, which focuses on the marine and energy markets.
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PropertyEU Archive
DTZ to manage Tulipan House office building in Warsaw
Tulipan House, part of the Segro Group, has appointed DTZ in Poland to provide property management services for the Tulipan House office building in Warsaw. The scheme, which offers 17,800 m[sup]2[/sup] of modern office space over four levels, is situated in a proven business centre in Mokotow. According to ...
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PropertyEU Archive
Pricing correction 'more rational' in Europe - Savills
European property investment markets have experienced fewer forced sales than expected as the pricing correction in the region has operated on a more rational pace this year in comparison to the latter part of 2007, according to Savills European research division.
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PropertyEU Archive
Prologis leases 19,600 m[sup]2[/sup] to electronics wholesaler in Slovakia
Denver-based Prologis said on Tuesday it has leased 19,600 m[sup]2[/sup] of warehouse space to electronics distributor-wholesaler NAY Elektrodom in Slovakia. NAY Elektrodom will occupy a new premises under construction at Prologis Park Bratislava, a distribution facility being developed 24 kilometres northeast of Bratislava. NAY Elektrodom plans to use the facility ...
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PropertyEU Archive
Jelmoli settles dispute over failed EUR 2bn sale
Swiss retail group Jelmoli has reached a settlement with the Israeli-UK consortium of investors which pulled out of the EUR 2bn deal to buy 88 Jelmoli department stores last year. Jelmoli said that consortium member Delek Blenheim Group will pay Jelmoli CHF 21.5mln (EUR 13.2mln) as final settlement of all ...
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PropertyEU Archive
KanAm US-grundinvest fund books 6.3% return
Germany's open-ended KanAm US-grundinvest Fonds posted a total return of 6.3% in the 2007/2008 fiscal period, its fifth anniversary year, the company said on Tuesday. After an extended period of limited activity, the north American property market again offered a string of opportunities, as reflected in the seven acquisitions the ...
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PropertyEU Archive
Citycon gets EUR 30m loan for sustainable shopping centre
Finnish property company Citycon has been granted a EUR 30mln loan by the Nordic Investment Bank (NIB) to finance the development of a shopping centre south of downtown Stockholm, in the district of Liljeholmen. The new centre will apply strict environmental standards as part of an holistic approach to sustainable ...
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PropertyEU Archive
LB Immo acquires Budapest office
Hamburg-based property investor LB Immo has acquired an office building in in Budaörs, Hungary, for an undisclosed amount. Cushman & Wakefield advised the company on this off-market acquisition. The vendor is hmh Holding, an international developer.
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PropertyEU Archive
Morley, DTZ regional fund completes first acquisition
UK asset manager Morley and DTZ Asset Management have completed the first acquisition for their French Regional Property Fund, Hexagone. The new investment vehicle has acquired Sapphire, a portfolio of six French regional properties for EUR 84mln from a private fund. At the same time, the fund has been approved ...
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PropertyEU Archive
C&W to advise publisher on Warsaw move
Global real estate consultant Cushman & Wakefield has won a tender to become the exclusive advisor for publishing company G+J Gruner+Jahr Polska, part of á leading European publishing group, in the relocation and renegotiation of its office lease.
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PropertyEU Archive
Hamburg Trust buys into Australian shopping centre
German closed-end fund manager Hamburg Trust has acquired a 50% interest in the Dandenong Plaza shopping centre in Melbourne through its Australian parent company GPT Group. Financial details were not disclosed. The property will be integrated into Hamburg Trust's new Shopping Edition fund, which will have an investment volume of ...
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PropertyEU Archive
Eurosic buys office complex in Boulogne-Billancourt
French listed property investment firm Eurosic said on Tuesday that it has signed an agreement to acquire an office project in the Trapeze district of Boulogne-Billancourt. The development is being acquired from Nexity Entreprises for around EUR 60mln.
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PropertyEU Archive
Uplace to create city-within-a-city in Brussels
Uplace, a new real estate company, said its launch project will involve the redevelopment of a derelict post-industrial site in Machelen, at the Vilvoorde viaduct of the Brussels beltway. Company founder Bart Verhaeghe said the project will create a city-within-a-city in the Belgian capital that will bring the Brussels-North region ...
