All Real Assets articles in Web Issue – Page 276
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PropertyEU Archive
C&W to manage Bulgaria's largest shopping centre
Bulgarian developer Interservice Uzunovi has appointed the Athens office of C&W to manage Mall Varna, Bulgaria's largest shopping centre which opened last month. Mall Varna, located in the city of Varna on Bulgaria's Black Sea coast, offers 33,000 m[sup]2[/sup] of commercial space, including more than 100 retail stores plus food ...
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PropertyEU Archive
Open Investments buys Hotel Novoslobodskaya in Moscow
JSC Hotel Novoslobodskaya, a fully-owned subsidiary of Russian real estate firm Open Investments (OPIN), has raised its stake in Moscow's Hotel Novoslobodskaya from 69% to 100%. The property, which is located in Moscow's city centre, was sold at an auction organised by the City Government for an undisclosed amount. The ...
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PropertyEU Archive
Martinsa Fadesa's CEO to leave company
Carlos Vela, chief executive of Spanish group Martinsa Fadesa, is leaving the real estate company to head Cibeles Corporación, a new financial unit of Caja Madrid to be launched this summer, Spanish newspaper Cinco Dias reported on Tuesday. According to the paper, the company plans to send a statement to ...
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PropertyEU Archive
Conwert sees value in redevelopment projects in Vienna
Vienna-listed property firm Conwert Immobilien Invest expects to complete 232 new loft apartments with roughly 19,000 m[sup]2[/sup] of usable space in Vienna by the end of 2009. The company said it will create a valuable addition to the housing supply in the capital by redeveloping older properties. According to the ...
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PropertyEU Archive
Altarea raises EUR 375m, ABP acquires a stake in the company
French retail developer Altarea said on Wednesday it had raised EUR 375mln via a capital increase launched on 16 June 2008. 'In a bleak economic, financial and stockmarket climate, this result attests to the confidence of existing shareholders,' the company said in a statement. Over two million new shares were ...
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PropertyEU Archive
DTZ reports 44% increase in group revenue but profits down
Property adviser DTZ posted a 44% increase in group revenue to £446mln (EUR 561mln) up from £310mln (EUR 390mln) for the same period in 2007, in its preliminary results for the year ended 30 April 2008. The increased revenue was achieved through the impact of acquisitions such as Donaldsons and ...
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PropertyEU Archive
Spazio Investment sells Italian assets for EUR 56m
Spazio Investment's fully-owned Italian fund Spazio Industriale has sold a portfolio of 28 assets let to Telecom for total cash proceeds of EUR 26.3 mln, or a yield of 5.8%. The fund has also sold a building let to Prada in the Italian city of Arezzo for another EUR 12.2 ...
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PropertyEU Archive
Aberdeen PI appoints new managing director
Aberdeen Property Investors Deutschland has announced a reinforcement of its management team within its growth strategy. From 1 August 2008, Fabian Klingler (39) will be joining the management board. Fabian Klingler joined Degi in 2001 and one year later he built up the department for Fund Management & Treasury, Portfolio ...
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PropertyEU Archive
Hard Rock appoints C&W as European property adviser
Hard Rock International has appointed property consultant Cushman & Wakefield as its property adviser across Europe. Hard Rock International currently has 127 high-energy Hard Rock Cafes in 48 countries and is looking to open a significant number of new outlets in Europe within the next three years. Priority locations include ...
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PropertyEU Archive
Olivier Piani appointed new global head of real estate at Allianz
Allianz Alternative Assets (AAA) has appointed Olivier Piani (54) as global head of Real Estate with effect October 1, 2008. In his new role Olivier Piani will establish and implement a global real estate investment platform for Allianz Group, combining its regional real estate units under one roof.
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PropertyEU Archive
Arques Industries sells to WP Carey
Starnberg-based Arques Industries has sold two properties to US property fund W.P. Carey. The transaction amount comes to approximately EUR 32 mln. The German company has sold the headquarters of Actebis Peacock in Soest and a logistics centre in Bad Wünnenberg, in the German North Rhine-Westphalia region.
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PropertyEU Archive
Beni Stabili sells two assets in Milan
Italian property company Beni Stabili has signed a preliminary agreement for the sale of two office buildings in Milan for EUR 42mln. The buyers are Italian company Inpartner and 2M SGR-managed PRE fund. The transaction is expected to complete by the end of the year. The assets generate a yield ...
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PropertyEU Archive
Prologis eyes growth in Central Italy
Logistics space provider Prologis is acquiring a 100,000 m[sup]2[/sup] plot of land located south of Rome, according to Pascal Luciani, managing director of Prologis Italia. Luciani said the group has launched a due diligence for the site, on which it plans to develop a 30,000 - 40,000 m[sup]2[/sup] logistics complex. ...
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PropertyEU Archive
Valad, Schaumann team up in Copenhagen development JV
Australian-listed Valad Property Group has formed its first ever joint venture with Danish developer Schaumann Properties to handle the capital and finance structuring on a number of development projects, the first being a 50:50 partnership concerning the Krystallerne office development in Copenhagen's South Harbour.
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PropertyEU Archive
Immobel, Deximmo sells Omega Court project
Belgian property company Compagnie Immobilière de Belgique (Immobel) and Dexia Group's real estate unit Deximmo said on Wednesday they have completed the Omega Court project and have sold their entire share holding to Cofinimmo for an undisclosed amount. The five-storey complex is in an ideal location at Auderghem, close to ...
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PropertyEU Archive
Meinl EL poaches property director from J Sainsbury
Meinl European Land (MEL) announced on Wednesday that J Sainsbury's current property director Peter Baguley has agreed to become an independent non-executive director of MEL. Baguley is also on the advisory boards of the British Council of Shopping Centres and is a member of the Bank of England Property Forum.
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PropertyEU Archive
Dublin office market shows signs of weakening
Office occupier demand is weakening on the back of deteriorating economic conditions, which could impact on office letting activity in the capital in 2009, according to a survey by property consultants CB Richard Ellis (CBRE) published on Wednesday. The finding was issued despite good letting activity and a number of ...
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PropertyEU Archive
First Industrial enters France and Germany
First Industrial Realty Trust, a provider of industrial real estate supply chain solutions, announced on Wednesday it is expanding into France and Germany. The Chicago-based company has hired Christophe Chauvard as country director in France and Oliver Drecker as country director in Germany, to lead the expansion into these markets.
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PropertyEU Archive
TMW Immobilien Weltfonds enters London
German investor TMW Pramerica Property Investment, on behalf of its TMW Immobilien Weltfonds unit, has entered London with the acquisition of the 85 Fleet Street office building for some £85 mln (EUR 107 mln). The nine-storey building has 9,000 m[sup]2[/sup] of office space mostly let to law firm Fullbright & ...
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PropertyEU Archive
LaSalle IM sets up 'special situations' team
LaSalle Investment Management is to establish a 'Special Situations' team for the UK and Continental Europe. The new team will primarily be responsible for evaluating potential corporate level acquisitions, structured debt and equity opportunities and will be targeting the higher risk/return end of the investment spectrum.
