All Real Assets articles in Web Issue – Page 272
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PropertyEU Archive
Invesco, Scius acquire first Nordic asset for German client
Invesco Real Estate and Scius Partners have made their first acquisition in the Nordic region since announcing a partnership agreement at the end of 2007. Invesco said Molnvik Retail Park, a 16,500 m[sup]2[/sup] property in the Varmdo area of Greater Stockholm, was acquired for EUR 40mln on behalf of iii-BVK ...
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PropertyEU Archive
Hypo Real Estate Bank underwrites loan for Oakwood portfolio
Hypo Real Estate Bank said on Tuesday it has agreed to underwrite EUR 91mln of a EUR 106mln loan facility provided by Morgan Stanley to Curzon Capital Partners for the financing of the Oakwood portfolio. The transaction was closed on 11 June and has since been funded, Hypo Real Estate ...
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PropertyEU Archive
Skanska to build business centre in Slovakia
Swedish construction firm Skanska has won a EUR 35mln contract to build a new administrative building and the Cassovar Business Center in Kosice, Slovakia. The project was commissioned by Cassovar Business Center and is included in order bookings for the second quarter.
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PropertyEU Archive
SPDE extends loan contracts for Fornebu development
Scandinavian Property Development (SPDE) said on Tuesday it has secured extensions on loan agreements with the municipal authorities in Oslo and Norwegian financial services company Storebrand for the mixed-use development at Fornebu, Norway. Under the new agreement with the Oslo authorities, the partial payment due on 1 July 2008 has ...
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PropertyEU Archive
Degi: real estate still not focus of sovereign funds
The real estate sector is still not the focal point of sovereign wealth funds' investment strategies despite announcements to increase their allocation for real estate, according to new research by German property company Degi.
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PropertyEU Archive
Deka strengthens position in hotel segment
Deka Immobilien, the property investment arm of DekaBank, has bought a Courtyard by Marriott Hotel in Bremen for almost EUR 24mln from Hanover-based developer-owner Baumgruppe. The property will be added to Deka's open-ended Immobilienspezialfonds.
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PropertyEU Archive
MBI International to invest EUR 1bn in two French towers
MBI International & Partners, the global group that combines the companies owned by self-made Arab entrepreneur Sheikh Mohamed Bin Issa Al Jaber, said it will invest up to EUR 1bn in the development of two 164-metre-high towers in Levallois-Perret, a business district near La Defense on the outskirts of Paris. ...
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PropertyEU Archive
JLL: direct real estate investment at weakest level since 2003
Total direct real estate investment in Europe totalled an estimated EUR 32bn in the second quarter of 2008, down 14% on the previous quarter and 44% on the same period in 2007, according to new figures from property broker Jones Lang LaSalle.
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PropertyEU Archive
Eurocastle divests EUR 219m of German assets
Eurocastle Investment Limited has sold EUR 219mln of property assets as part of its ongoing programme to harvest mature or non-strategic assets. The listed company, which focuses on German commercial real estate, has sold two buildings at an average NOI (Net Operating Income) yield of about 4.5%. One of the ...
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PropertyEU Archive
GPR 250 Europe Index keeps downward trend in June
European real estate stocks ended in negative territory for the fourth month in a row in June, according to both the GPR 250 Europe Index and the EPRA/NAREIT Europe Index. Global Property Research (GPR) reported an overall index dip of 12% in June, representing a sharp drop from the -4.1% ...
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PropertyEU Archive
Degi buys Andernach Shopping World for EUR 40m
German property company Degi said on Wednesday it has acquired the Andernach Shopping World centre in the western town of Andernach for around EUR 40mln. The property will be added to Degi's German Business fund, which focuses on commercial properties in Germany and which now has a portfolio of around ...
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PropertyEU Archive
Redevco acquires retail properties from Barclays for EUR 65m
The Spanish office of Dutch property group Redevco has purchased a portfolio consisting of 24 retail units and commercial buildings from UK bank Barclays for a total of EUR 65mln. The properties are located in prime high-street locations in nine Spanish cities including Madrid, Barcelona, Seville, Málaga, Vigo and Alicante. ...
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PropertyEU Archive
Icade snaps up three clinics for EUR 76m
French property developer Icade has strengthened its position in the healthcare sector with the acquisition of three clinics and a convalescent home from the private healthcare operator 3H Group for EUR 76mln. The deal reflects an average net yield of 7.40%.
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PropertyEU Archive
Siemens sells office scheme to Aerium for EUR 77m
Siemens Real Estate (SRE) has sold the German headquarters of nuclear power company Areva to Aerium, a London-based real estate private equity group, for EUR 76.9mln. The property is located in Erlangen and was developed and built by SRE as a tailormade project for Areva in 2007.
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PropertyEU Archive
Aareal Bank boosts CEE business
German bank Aareal said on Wednesday that it has opened a representative office in Moscow. Following official approval from the Central Bank of the Russian Federation (CBR), the office - located in the heart of Russia's capital city - opened its doors for business this week.
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PropertyEU Archive
Fonciere Atland buys assets from Veolia
French property company Foncière Atland said on Wednesday that it has signed a joint venture agreement with leading public transport operator Veolia Transport, a subsidiary of Veolia Environnement.
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PropertyEU Archive
Beni Stabili disposes of assets in Milan and Venice
Italy's Beni Stabili has completed the sale of an asset located in the centre of Milan close to the Duomo to an unnamed buyer for EUR 46mln. The property was part of the ex-Comit Fund portfolio which Beni Stabili bought in 2006 from the pension fund of Banca Commercial Italiana ...
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PropertyEU Archive
Cofinimmo boosts nursing home portfolio
Belgian company Cofinimmo said on Wednesday that it has signed an agreement to acquire four nursing homes in the Brussels region and Flemish Brabant. The acquisition value comes to EUR 78mln, corresponding to an expected initial yield of 6.14%. The company expects the transaction to be completed by the end ...
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PropertyEU Archive
FDR, Morgan Stanley deliver Vélizy Campus to Dassault Systèmes
French property giant Foncière des Régions (FDR) and Morgan Stanley Real Estate Funds said on Wednesday that they have delivered the Vélizy Campus project to software provider Dassault Systèmes. The company and its 2,500 staff will use the new 60,000 m[sup]2[/sup] scheme as their global head office. The operation was ...
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PropertyEU Archive
Kurfursten Galerie in Kassel sold to Dutch investor
German insurers Nurnberger Lebensversicherung and SV SparkassenVersicherung Gebaudeversicherung have sold the Kurfursten Galerie shopping mall in Kassel to a Dutch investor. The parties declined to reveal the identity of the buyer or the price.
