All Real Assets articles in Web Issue – Page 271
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PropertyEU Archive
Fortis Bank sells two buildings for EUR 94m
Belgian property group Befimmo said it has acquired two buildings in Belgium from Fortis Bank for an overall purchase price of EUR 94mln.
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PropertyEU Archive
SEB ImmoInvest adds two new properties to its portfolio
German asset manager SEB Asset Management said it has placed two completed development properties in its property fund SEB ImmoInvest. With the addition of the two new properties in the Finnish capital Helsinki and the city of Deventer in the Netherlands SEB ImmoInvest now has a portfolio comprised of ...
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PropertyEU Archive
Austrians begin work on Poland's largest business park
Austrian companies UBM and CA Immo International have announced the start of construction work on Poleczki Business Park located on the edge of the Mokotow district of Warsaw. The joint venture partners said the facility will be the largest business park in Poland.
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PropertyEU Archive
ECE to build football stadium-mall in Czech city
Hamburg-based shopping centre developer ECE Projektmanagement has been awarded the contract to build Park Malsovice, an inner-city football stadium with a retail and leisure component, in the historic Czech city of Hradec Kralove.
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PropertyEU Archive
Risanamento mulls sale of Falck site, JV on Milano Santa Giulia
Italian property developer Risanamento said on Friday it has been approached by leading international investors in relation to its vast redevelopment of the Falck steel factory in Sesto San Giovanni, and its large redevelopment plan in Milano Santa Giulia.
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PropertyEU Archive
Multi, Meinl's Polish mall nearly fully let
Multi Development and Meinl European Land have said that their 55,000-m[sup]2[/sup] Forum Koszalin project in the Polish city of Koszalin is almost fully let ahead of the planned inauguration of the shopping centre in November. Progress in leasing space in the new shopping centre was revealed at a topping ceremony ...
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PropertyEU Archive
Immoeast takes over Constantia property arm for EUR 440m
Austrian property company Immoeast and its parent company Immofinanz said on Monday they plan to jointly purchase the real estate division of Constantia Privatbank for EUR 440mln. Under the deal, Immoeast will pay Constantia EUR 264mln for a 60% stake in the unit, with Immofinanz paying EUR 176mln for the ...
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PropertyEU Archive
Investate buys prime London site for EUR 474m redevelopment
Investate Realty, a Bahrain-based real estate investment company, has announced the acquisition of a 4.5-acre (1.82-hectare) waterfront site in central London called Tideway Industrial Estate, marking its first investment in the UK capital. Investate plans to invest £375mln (around EUR 474mln) in redeveloping the site, to be renamed Tideway Wharf, ...
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PropertyEU Archive
Italian, German investors acquire mixed-use portfolio in Berlin
A group of unnamed Italian and other private investors has teamed up with a number of German firms to acquire a mixed-use portfolio of eight buildings in the central business district of Berlin. It is understood that the investment volume for the 60,000 m[sup]2[/sup] portfolio was in the region of ...
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PropertyEU Archive
PSPI acquires German care home portfolio
Guernsey-based real estate firm Public Service Properties Investments has acquired a portfolio of six German care homes from a subsidiary of an undisclosed German bank for EUR 36.3mln. The portfolio comprises 403 care home beds and 154 assisted living places in cities such as Berlin, Bremerhafen and Büren.
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PropertyEU Archive
GCHR targets four additional hotels by year-end
Grand City Hotels and Resorts (GCHR), a private investment company which is 50%-owned by Lehman Brothers, aims to add at least four new hotel properties to its portfolio by the end of the year, marketing director Sven Doliwa told Immobilien Zeitung.
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PropertyEU Archive
Akron enters Russian real estate jv with Gazprombank
Vienna-based Akron Group announced on Monday that it has formed a joint venture in Russia with Gazprom-Invest (GPBI), the real estate investment arm of Russian bank giant Gazprombank. Akron said the partnership covers large-scale office, retail and logistics projects in Moscow and St Petersburg.
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PropertyEU Archive
Trigranit appoints diplomat to lead Russian business
Budapest-based Trigranit has appointed Arpad Szekely, Hungaria's ambassador to Russia, to head the firm's EUR 6bn investment programme in Russia. Szekely will assume the post of country director for Trigranit in Russia when his diplomatic assignment ends shortly.
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PropertyEU Archive
Multi and Karstadt to redevelop Recklinghausen city centre
Multi Development Germany and Karstadt department store group are to redevelop the centre of Recklinghausen, a city in Germany's industrial Ruhr region, for a total investment of around EUR 135mln. The 30,000 m[sup]2[/sup] project has been given the working title Quartier am Markt (Market Quarter) and is aimed at repositioning ...
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PropertyEU Archive
Taylor Wimpey seeks funds as financial tremors shake UK residential firms
Taylor Wimpey, the UK's largest home builder by construction volume, said on Monday that it is taking a £550mln (EUR 695mln) writedown on its property land bank and development programme in the UK. The company is also writing down a further EUR 88.4mln in the US and EUR 50.5mln in ...
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PropertyEU Archive
Nanette sells off further stake in investment vehicle Taltoring
London-listed residential property developer Nanette said on Monday it has agreed to sell a further 45% of its holding in special purpose vehicle Taltoring to EdR Real Estate (Eastern Europe), a subsidiary of the Rothschild Group. Rothschild will pay EUR 337,500 for the stake, in addition to a loan of ...
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PropertyEU Archive
Henderson recruits Kurzidem for German property team
Global asset manager Henderson Global Investors is appointing Sascha Kurzidem as the new director institutional business for its property business in Germany. Kurzidem will be responsible for dealing with institutional investors in Germany, Austria and Switzerland.
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PropertyEU Archive
Union Investment buys Frankfurt office building for EUR 129m
Hamburg-based Union Investment Real Estate has acquired the Furstenhof office/commercial building in Frankfurt am Main from Eurocastle Investment in a deal worth around EUR 129mln. The property, located in the heart of Frankfurt's financial district, will be added to Union Investment's open-ended fund UniImmo: Deutschland, the company said on Tuesday.
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PropertyEU Archive
Sjaelso sells three retail projects in Finland for EUR 40m
Danish property developer Sjaelso Gruppen has sold three retail projects in Finland worth around DKK 300mln (EUR 40mln) to Copenhagen-based Property Group. The deal is part of an agreement reached between the two companies in 2007.
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PropertyEU Archive
GE Real Estate acquires EUR 642m pan-European loan portfolio
GE Real Estate has boosted its European property debt holdings with the acquisition of a EUR 642mln portfolio of performing pan-European loans from Credit Suisse.
