All Real Assets articles in Web Issue – Page 273
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PropertyEU Archive
IPD: UK rural property investors enjoy record returns
The Investment Property Databank (IPD)'s Rural Property Investment Index recorded a total return of 25.7% in 2007, up from 17.6% the previous year. The record return makes the Rural Property Investment Index the second-best performing IPD index in the UK last year, outstripping commercial and residential property, which earned investors ...
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PropertyEU Archive
Vasakronan sold to AP Fastigheter for EUR 4.3bn
The Swedish government has sold real estate firm Vasakronan to AP Fastigheter in a deal which values its assets at SEK 41.2bn (EUR 4.3bn), the company said on Thursday. The government intends to use the proceeds to pay off public debt.
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PropertyEU Archive
Estavis sells two portfolios for EUR 61m
German company Estavis has sold two large real estate portfolios for a total price of EUR 61mln to a Swiss institutional asset management firm and a newly founded UK private fund. The sales will be included in the turnover and net income of the 2008/2009 financial year beginning on July ...
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PropertyEU Archive
PIK acquires development site in Russia's Rostov region
Russian developer PIK Group said on Wednesday it has acquired a 61-hectare plot of land in the Rostov region which it intends to develop for residential and commercial purposes. The company expects to invest around $650mln (EUR 412mln) in the project, which will be completed by 2018.
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PropertyEU Archive
LaSalle-Morley fund completes acquisition at La Défense
LaSalle Investment Management and Morley Fund Management have announced the acquisition of three floors of the Tour Franklin at Paris's La Défense high-rise business district on behalf of their open-ended pan-European Encore+ fund.
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PropertyEU Archive
Caltagirone-Generali consortium bids for MPS assets
A consortium of Roman entrepreneur Gaetano Caltagirona and insurance giant Generali has launched a non-binding offer for the 49% stake in the MPS real estate portfolio that the Italian financial group put up for sale last year. Italian paper Il Sole 24 Ore reported on Thursday that the MPS assets ...
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PropertyEU Archive
Segro sells office building in Warsaw to Commerz Real
UK REIT Segro has agreed the sale of Tulipan House in Warsaw to German investor Commerz Real for EUR 60mln. The transaction reflects an initial yield of 5.9% and encompasses 17,898 m[sup]2[/sup] of class 'A' office space. The property is earmarked for Commerz Real’s Hausinvest global fund.
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PropertyEU Archive
GREF buys office in Montreuil
Generali's Pan European real estate fund GREF has acquired an office project in Montreuil, in the Seine-Saint-Denis department of France for an undisclosed sum.
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PropertyEU Archive
Prologis expands space in Castel San Giovanni
Logistics space provider Prologis said on Thursday that it has acquired 25.707 m[sup]2[/sup] of distribution space within the Vailog Park in Castel San Giovanni, near Piacenza, from Italian developer and investor Realty Vailog. The investment amount was not disclosed.
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PropertyEU Archive
Niam-led consortium sells shopping centre in Finland
A consortium of investors led by private equity firm Niam has sold the Pasaati shopping centre in Finland to Kauppakeskuskiinteistot FEA, a fund managed by Aberdeen Property Investors Finland. The shopping mall was 30%-owned by Niam, with the remaining stake held by Goldman Sachs' Whitehall Real Estate Funds, Etera Mutual ...
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PropertyEU Archive
Mark Preston new CEO of Grosvenor Group
Mark Preston has been appointed as the new chief executive of UK property group Grosvenor with effect from July 1, succeeding Jeremy Newsum who is stepping down after almost 20 years.
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PropertyEU Archive
Risanamento confirms talks with Limitless on Falck, Santa Giulia projects
Italian property developer Risanamento confirmed on Thursday that it has received a letter of intent from the Dubai fund Limitless for the purchase of 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
Constructa opens Lyon office
French property group Constructa is opening a new office in Lyon which will bring together its three business lines: management unit CAM, development subsidiary Constructa Promotion and property services unit Constructa Vente. The three companies will occupy the Carré Vendôme office in Lyon.
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PropertyEU Archive
Major new waterside development for London
Wood Wharf Limited Partnership (WWLP), a joint venture formed in 2005 by British Waterways, Canary Wharf Group and Ballymore Properties, submitted an outline planning application to the London Borough of Tower Hamlets on Thursday for one of London's largest and most ambitious waterside developments.
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PropertyEU Archive
Inrev launches white paper on fund style revision
Inrev, the European association for investors in non-listed real estate vehicles, is proposing a fundamental overhaul to the way in which investment styles are defined for Europe's EUR 400bn non-listed real estate funds industry. The association has released a white paper which outlines an empirical approach to revising the existing ...
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PropertyEU Archive
Land Securities gets go-ahead for Northfleet Rise
UK property giant Land Securities has received approval from Gravesham Borough Council for its masterplan for Northfleet Rise, an area to the north of Ebbsfleet International station, part of Ebbsfleet Valley. The company said that outline planning permission for the development of the area around the station had been received ...
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PropertyEU Archive
Metrovacesa incorporates Sacresa
Metrovacesa's shareholders approved a plan this week to merge the Spanish property company with its chairman's rental firm, Sacresa Terrenos 2. The move is the latest step in a deal agreed last year to end a year-long battle for control of the company between its main shareholding groups.
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PropertyEU Archive
Barratt to cut 1,000 jobs amid UK market downturn
UK house builder Barratt Developments plans to lay off around 1,000 of its staff in response to the downturn in the British housing market. Barratt is just the latest construction group announcing plans in the past week to cut jobs in the wake of worsening credit conditions and falling home ...
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PropertyEU Archive
Westfield gets green light for EUR 1.9b London Olympics plan
Shopping centre group Westfield said it had been given the go ahead by the UK government and a number of Olympic bodies for its 180-acre Stratford City retail and leisure development in east London. The £1.5bn (EUR 1.9bn) Stratford City scheme promises to be one of the UK's largest urban ...
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PropertyEU Archive
Sansedoni, Lehman JV buys for EUR 100m from MPS
A 50/50 joint venture of Italy's Sansedoni and investor Lehman Brothers has completed the acquisition of 100% of bank MPS's Valorizzazioni Immobiliari (Vim). Vim owns a portfolio of 188 commercial units that were no longer central to Monte Paschi di Siena's business. The assets have a market value of around ...
