All Real Assets articles in Web Issue – Page 274
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PropertyEU Archive
Gecina buys Khapa building from Hines fund for EUR 157m
French property company Gecina has completed the acquisition from Hines European Development Fund of the 19,612 m[sup]2[/sup] Khapa office and retail building at the former Renault sites in Boulogne-Billancourt, in Paris' western crescent, for EUR 157mln.
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PropertyEU Archive
Sponda sells hotel property in centre of Helsinki for EUR 42m
Finnish real estate investor Sponda signed a binding agreement on Thursday to sell a hotel asset in the centre of Helsinki to a real estate equity fund managed by Exilion Capital for approximately EUR 42mln.
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PropertyEU Archive
Ballymore to cull 50 jobs, appoints new CEO
Irish property developer Ballymore said on Friday it expects 45 to 50 people to exit the company in 2008 following an 'extensive business review' aimed at increasing the firm's international focus. The company also announced a management reshuffle, with founder Sean Mulryan stepping down as CEO to take up the ...
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PropertyEU Archive
ING RE acquires logistics site in Hamburg for EUR90m
ING Real Estate has acquired an 80,000 m[sup]2[/sup] logistics asset in the port of Hamburg at the new Hamburg-Altenwerder container terminal for EUR 90mln, German newspaper Immobilien Zeitung reported. The building is 95% leased to a range of tenants including Hamann International, K + P Gefahrgutlogistik, LGI Nord and Hempel ...
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PropertyEU Archive
CBRE acquires Liverpool-based Irving Rice
Global property advisor CB Richard Ellis said on Thursday it had acquired Irving Rice, a privately-owned commercial property services company based in Liverpool, the UK's fifth largest city. Established in 1994 by Nick Rice and Malcolm Irving, Irving Rice will expand and enhance CBRE's service capability in the NorthWest region, ...
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PropertyEU Archive
GE RE sets up new European investment management arm
GE Real Estate said on Thursday it had appointed Thierry Leleu as the European head of its newly set up global investment management operations. Leleu will work closely with both Joe Parsons, president and CEO of GE Real Estate Global Investment Management, and Olivier Piani, president and CEO GE Real ...
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PropertyEU Archive
Equable Properties buys Askon assets from Irish developer
Equable Properties said on Thursday it has signed a conditional agreement to acquire three property companies from private Irish developer Peter McCann in a reverse takeover for a total sum of £4.5mln (EUR 5.7mln).
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PropertyEU Archive
Unicredit restructures real estate business
Italian financial group UniCredit (UCG) is pooling its real estate activities in a central unit which will be responsible for the group-wide real estate strategy. The new organisation will coordinate the management of more than 10,000 Unicredit buildings across 23 countries.
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PropertyEU Archive
Prologis opens new C&A logistics centre in Slovakia
Logistics developer Prologis said on Friday that retailer C&A and logistics firm Jobstl have kicked off the relocation of C&A's eastern European distribution operations to ProLogis Park Nove Mesto in Slovakia. C&A's new, 24,000-m[sup]2[/sup] distribution centre will provide warehousing and distribution for 120 the firm's stores across Slovakia as well ...
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PropertyEU Archive
CBRE to lease Galeria Victoria in Poland
Keen Property Partners, the developer of the Galeria Victoria shopping centre in Walbrzych, has appointed CB Richard Ellis as the sole leasing agent responsible for renting the Polish mall. Galeria Victoria will be the first modern retail, entertainment, residential and hotel complex in the city and the surrounding region, bringing ...
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PropertyEU Archive
Multi Turkmall starts construction of Forum Gaziantep
Multi Turkmall, the Turkish subsidiary of Multi Corporation, has kicked off construction of a new project in Turkey, Forum Gaziantep. This shopping and lifestyle centre is located in the city of Gaziantep in South East Anatolia. The scheme will comprise 44,000 m[sup]2[/sup] of retail area on three floors and is ...
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PropertyEU Archive
Foster unveils designs for Rimini waterfront
Architectural firm Foster + Partners presented designs last week for a new waterfront development in Rimini, Northern Italy. Revealed at a public presentation to the City, the scheme comprises a new seafront promenade and public spaces, including a hotel tower. The proposal is designed to strengthen the relationship between the ...
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PropertyEU Archive
Schneider Electric signs up as first tenant for Q Park Kazan
Energy management specialist Schneider Electric has signed up as the first tenant for the Q Park Kazan warehouse complex near Kazan in Russia, brokerage firm Cushman & Wakefield Stiles & Riabokobylko said on Thursday.
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PropertyEU Archive
IVG kicks off Frankfurt redevelopment project
German property investor IVG Immobilien said on Friday its development arm, IVG Development, had started the redevelopment of the former Frankfurt headquarters of German trade union federation BGAG. On completion in 2009, the building will offer 2,000 m[sup]2[/sup] of modern, flexible office space. No financial details were disclosed.
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PropertyEU Archive
German state of Hesse resumes sale of Leo III portfolio
The German state of Hesse is putting the Leo III property portfolio back on the market, Minister of Finance Karlheinz Weimar (CDU) told newspaper Financial Times Deutschland (FTD). Weimar said that the sale process has been resumed and that a deal is expected by the end of 2008. The German ...
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PropertyEU Archive
Atisreal: German investment volume down over 50% in H1
Some EUR 13.bn of commercial real estate investment deals took place in Germany in the first half of 2008, down 53% on the year-earlier period, according to the latest figures from consultant Atisreal. Portfolio sales accounted for some EUR 5.8bn or 45% of the total, a decline of 64% compared ...
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PropertyEU Archive
Sonae Sierra to invest EUR 75m in Leiria project
Portuguese shopping centre specialist Sonae Sierra said on Monday it has started the construction of a new shopping and leisure centre in Leiria, in central Portugal. LeiriaShopping will be the result of the expansion of the current Continente de Leiria shopping mall, and is scheduled to open in the spring ...
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PropertyEU Archive
Aberdeen fund acquires two office buildings in Copenhagen
Aberdeen Property Fund Denmark has acquired two office buildings in Copenhagen for a total of DKK 263mln (EUR 35mln) from a company owned by the Centerplan group.
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PropertyEU Archive
High Court rejects UBS counterclaim against HSH Nordbank
London's High Court of Justice has rejected UBS's counterclaim against HSH Nordbank in relation to losses suffered on the North Street 2002-4 Collateralized Debt Obligations (CDOs). HSH Nordbank launched a $500mln claim against UBS in February this year, making the Swiss bank the first financial institution to be sued by ...
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PropertyEU Archive
Sol Melia to open new hotel in Austria's highest building
Spanish hotel chain Sol Melia said on Monday it is set to start construction of ME Vienna, a new hotel that will be located at the 60-floor DC Tower 1 in the Donau-City district of the Austrian capital. At 220 metres, the skyscraper will be Austria's highest structure, Sol Melia ...
