All Real Assets articles in Web Issue – Page 277
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PropertyEU Archive
LaSalle opens new Italian office
LaSalle Investment Management this week announced the opening of a new Italian office in Milan. The Milan operation will be headed by Francesco Coviello, who joins LaSalle as head of Acquisitions Italy, reporting to Andy Watson, head of Acquisitions for Southern Europe. Francesco joins LaSalle from Redevco where he was ...
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PropertyEU Archive
Barratt Developments signs £400m debt facility, lays off 1,200
UK housing group, Barratt Development said that it had strengthened its financial structure with a new £400mln (EUR 502mln) debt facility in a trading update on Thursday. However, the company also announced that it is to lay off around 1,200 in a cost cutting bid to cope with the current ...
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PropertyEU Archive
Union Investment acquires EUR1b worth of asset in H1
German investor Union Investment Real Estate invested about EUR 1bn in a total of 18 real estate projects and properties worldwide. Additional transactions worth EUR 250mln are also close to completion, the company said in a statement released on Thursday.
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PropertyEU Archive
Realia invests EUR 130m in Barcelona's Torre BCN project
Spanish property company Realia said on Thursday that it expects to complete the skeleton of its Torre Realia BCN skyscraper in Barcelona by the end of the month. Realia, a company owned by savings bank Caja Madrid and construction company Fomentos de Construcciones y Contratas (FCC), is investing about EUR ...
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PropertyEU Archive
Carrefour Property agrees 2,366 m[sup]2[/sup] lease in Neuilly-sur-Seine
French hypermarket group Carrefour's new real estate unit has leased 2,366 m[sup]2[/sup] of office space in the Inpost building in Neuilly-sur-Seine, near Paris. Owned by ING Insurance, the building previously housed the French mail group La Poste, and was recently completely refurbished. The asset is managed by ING Real Estate.
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PropertyEU Archive
Icade acquires 4 private hospitals in France for EUR 200m
French property group Icade has agreed to purchase four private hospitals from the Générale de Santé group for EUR 202mln. The companies signed an 'intent to sell' agreement for the premises of the Medical-Surgical-Obstetrics institutions which have a total capacity of 947 beds and are located in the Ile de ...
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PropertyEU Archive
JLL buys Britain's Churston Heard for EUR 25m
Jones Lang LaSalle has announced that it is to acquire Britain's last large independent retail agency, Churston Heard, for around £20mln (EUR 25mln) . JLL will pay the limited company's owners in phased cash instalments with an element of performance-related payments the company said in a statement. This could take ...
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PropertyEU Archive
GE RE acquires EUR 30m office in Rome
GE Real Estate announced on Thursday that it had completed the acquisition of an office building in Rome from Fondo Polis for EUR 30 mln. The 8,000 m[sup]2[/sup] asset at Via del Serarico 121, was let to IFAD up to May 2008 but is currently vacant. According to the company ...
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PropertyEU Archive
Close Investments adds self-storage partnership to portfolio
Close Investments, a subsidiary of UK independent investment bank group, Close Brothers, has announced the acquisition of their first self-storage partnership for an undisclosed sum, the company said on Wednesday. The business adds an additional trade to their Close Trading Companies (CTC), an inheritance tax efficient portfolio of qualifying trades. ...
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PropertyEU Archive
Colony Capital mulls purchase of Colonial real estate assets
US private equity firm Colony Capital is negotiating the acquisition of real estate assets owned by debt-laden Spanish property company Colonial, newspaper Cinco Dias reported on Thursday. According to the paper, Colony Capital is mainly interested in Colonial's 15% stake in construction firm Fomento de Construcciones y Contratas, but the ...
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PropertyEU Archive
BPT signs deal to spearhead biggest Baltic waterfront project
Danish investor group Baltic Property Trust (BPT) and the President of Gdansk have signed a preliminary agreement covering a joint investment in the construction of New Wa³owa street in Gdansk Young City - the post-industrial Gdansk Shipyard areas. According to the company statement, the street is a central part of ...
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PropertyEU Archive
Rezidor to open new Park Inn hotel in Leuven, Belgium
Hotel group Rezidor said on Wednesday it will build a new Park Inn hotel in Leuven, Belgium, with opening scheduled for the third quarter of 2010. The 133-room property will be Rezidor's second Park Inn in Belgium, adding to the group's Park Inn Liège (100 rooms) located at the airport. ...
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PropertyEU Archive
Pirelli's Berlin property declared Unesco World Heritage Site
Pirelli RE's Wohnstadt Carl Legien housing estate, which is co-owned with joined venture partner RREEF, has been given the status of World Heritage by Unesco along with five other housing estates also in Berlin, the company said on Wednesday. The estates built in the 1920s are now under special protection ...
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PropertyEU Archive
Fonciere Massena shops in Boulogne Billancourt
French real estate firm Foncière Masséna said on Thursday it has completed the purchase from Warburg - Henderson of an office building located in Boulogne Billancourt for over EUR 36 mln. Completed in 2005, the R'Way building provides 4,262 m[sup]2[/sup] of office space and 95 parking spaces. It is entirely ...
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PropertyEU Archive
Crunch halts progress on Europe's highest residential project
UK property developers KW Linfoot and Frasers Property have put a £225mln (EUR 283mln) construction project on hold due to the credit crunch, the developers announced on Thursday. Billed as Europe's tallest residential buildings, the Lumiere project in Leeds, was set to transform the city's skyline. The project featured two ...
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PropertyEU Archive
WDP purchases two logistics sites in the Netherlands
Closed-end real estate investment company WDP has expanded its portfolio in the Netherlands with the purchase of two logistics sites in Veghel and Raamsdonksveer for a total of EUR 39mln. The projects are the first purchases made by WDP since the opening of its WDP Nederland offices in February this ...
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PropertyEU Archive
Saggel awarded 23,300 m[sup]2[/sup] property management contract
Nexity's property management unit, Nexity Saggel, has won the management contracts for three office buildings in France with 17,000 m[sup]2[/sup] of leasable space. The assets were recently acquired by the Capnexi OPCI investment vehicle, a fund 60%-controlled by Captiva Capital Partners III and 40%- by Nexity itself. Pharmaceutical group Bayer, ...
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PropertyEU Archive
LaSalle fund buys 3 office buildings near Bremen airport
LaSalle Investment Management's EUR 1bn German Income & Growth Fund (GIG) has acquired a 22,500 m[sup]2[/sup] office portfolio consisting of three buildings near Bremen airport. The investment vehicle has bought a 6,500 m[sup]2[/sup] existing building and two office projects for about EUR 35.5mln. The existing asset was completed ten years ...
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PropertyEU Archive
Cofinimmo buys 4 nursing homes in Belgium
Belgian property company Cofinimmo announced the closing of the acquisition of four nursing homes with a total of 1,064 beds and 45,000 m[sup]2[/sup] of space in Belgium. The company bought the assets - Damiaan in Flemish Brabant and La Cambre, Schweitzer, Van Zande in Brussels - for EUR 78mln, ...
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PropertyEU Archive
Aberdeen Nordic Fund acquires two properties
Aberdeen Property Investors' Luxembourg based Aberdeen Property Nordic Fund I SICAV has made two acquisitions and exceeded its target equity size of EUR 200mln. The fund has bought a 5,877 m[sup]2[/sup] office property within Plaza Business Park in Vantaa, Finland, from the Helsinki Metropolitan area. The eight-storey Plaza Piano property ...
