All Real Assets articles in Web Issue – Page 278
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PropertyEU Archive
Redevco Finland acquires second property in Oulu
Redevco's Finnish unit has acquired a high-street retail property in Oulu from Oulun Osuuspankki, a unit of the OP-Pohjola Group of independent co-operative banks, for almost EUR 19mln.
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PropertyEU Archive
EZW completes acquisition of Gazeley
Logistics developer Galezey said on Friday that the acquisition by Dubai World's Economic Zones World (EZW) has received European regulatory approval. EZW first announced in June that it had bought the Wal-Mart-owned global provider of sustainable logistics space, as part of its strategy to expand into global markets.
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PropertyEU Archive
Banco Popular buys land in Madrid for new head office
Spain's Banco Popular has agreed with media company Vocento on the purchase of a large plot of land in Madrid where the Spanish bank plans to relocate its new headquarters. The site, which was acquired for EUR 80mln, willl house in 2013 the bank's total staff of about 3,000 that ...
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PropertyEU Archive
Bilia sells in Denmark
Swedish retailer Bilia has signed an agreement with a subsidiary of Corem Property Group for the sale of some assets in Copenhagen for a total of SEK 278mln (EUR 30mln). Bilia will lease back the properties which are to be transferred to the new owner on 1 September 2008. This ...
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PropertyEU Archive
Jelmoli board member endangers spin-off plan
Swiss retailer Jelmoli said on Friday that a request by a member of its management board and significant shareholder in the company is 'putting at risk' the success of a spin-off plan announced earlier this year to separate the Swiss retailer's business into separate listed real estate and investment units.
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PropertyEU Archive
Leasinvest builds new office for Cegelec
Belgian real estate investment trust Leasinvest Real Estate said it has closed a leasing agreement with Cegelec for a new office that LeaseInvest will build within the Alpha Campus business park in Antwerp. Cegelec, a French technological services company, will lease the asset for a fixed term of 15 years ...
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PropertyEU Archive
Sal. Oppenheim sets up real estate investment management firm
Sal. Oppenheim Real Estate said on Friday that it has launched a new real estate investment management company based in Zurich, 4IP Management. The new firm will capitalise on the experience accumulated by Sal. Oppenheim's consultancy unit 4IP, which has been active in indirect investment over the last two years.
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PropertyEU Archive
Student housing woos investors
Europe's property market remains challenging as many property values continue to fall and financing conditions remain tough. However, one asset class is bucking the trend to deliver strong rental growth. Student housing - which has been largely ignored by most investors until now - is attracting the eye of investors ...
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PropertyEU Archive
Valad's German Fund leases 17,000 m[sup]2[/sup] in largest deal in Dusseldorf this year
Network communications firm Nokia Siemens Networks has signed a deal with the Valad German Aktiv fund, managed by the Valad Property Group, to take 17,000m[sup]2[/sup] of office, high tech and warehouse space in Dusseldorf. The joint venture company will move into Heltorfer Strasse 20 - 22, situated on a business ...
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PropertyEU Archive
Pembroke buys 190,000 m[sup]2[/sup] portfolio in Nordic capitals
Pembroke Real Estate announced on Thursday that it has acquired a 190,000 m[sup]2[/sup] portfolio of twelve office/retail buildings located in main business districts of Stockholm, Oslo and Helsinki. The primary tenant is Nordea Bank. These acquisitions are Pembroke's first in the Nordic region.
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PropertyEU Archive
Sjaelso lets 5,000 m[sup]2[/sup] to Kromann Reumert
Danish legal firm Kromann Reumert said it has signed a lease for some 5,100 m[sup]2[/sup] of office and basement space at the ongoing project at Kalkbrænderihavnen. The property which has an area of roughly 10,000 m[sup]2[/sup] office space, was recently sold by Sjælsø to PFA Ejendomme for approximately DKK 350 ...
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PropertyEU Archive
Société de la Tour Eiffel highlights sustained activity as 1H revenues rose 9.8%
French listed property firm Société de la Tour Eiffel (STE) said it registered a sustained level of activity in the first half of 2008, with revenues rising 9.8% to EUR 42.7mln compared to the like, year-earlier period. Despite tougher economic times, STE said the performance of French ...
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PropertyEU Archive
LSR Group acquires Yekaterinburg developer for EUR 100m
Russian real estate developer LSR Group said it has acquired 100% of Yekaterinburg, Russia-based property developer ZAO Nova-Stroy for EUR 100mln. LSR said the acquisition of ZAO Nova-Stroy, the third largest developer in Yekaterinburg, was part of its strategy of setting up its regional division in the ...
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PropertyEU Archive
Skanska sells land for SEK 117m in Warsaw
Swedish construction company Skanska has sold a 38,000m[sup]2[/sup] plot of land with building rights in Warsaw for SEK 117mln (EUR 12.3mln) to the Canadian investment fund, Capital Park. The deal, which represents a capital gain of SEK 94mln, will be reported in the third quarter. The land is located ...
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PropertyEU Archive
Valad raises EUR 196m for French industrial fund
Sydney-based Valad Property Group has raised EUR 196mln in its first closing for its new EUR 500mln industrial fund in France, known as Parc d'Activités. Twelve international institutional investors have committed EUR 96mln, including EUR 5mln from Valad Property Group. In addition, Landesbanken Hessen-Thuringen-Girozentrale (Heleba) is providing a first tranche ...
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PropertyEU Archive
Kungsleden sells properties to Northern Logistic Property for SEK 600m
Swedish listed property company Kungsleden said it has sold five logistics and warehouse properties to Oslo-quoted Northern Logistic Property for a total SEK 600mln (EUR 63mln). Kungsleden said the sales price exceeds book value by SEK 7mln and its acquisition value by SEK 51mln. Kungsleden ...
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PropertyEU Archive
SEB AM re-enters UK market with EUR 63m acquisition
German asset manager SEB Asset Management said that it has taken advantage of favourable market conditions to re-enter the British market, acquiring a Grade A logistics property in West Moor Park in Doncaster for about EUR 63mln and indicating that it also sees good purchase opportunities in the London office ...
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PropertyEU Archive
Eastern Europe accounts for nearly half of space at Mipim Horizons
Eastern European companies account for 45% of the exhibition space confirmed so far for the first edition of Mipim Horizons, the world’s property market dedicated to fast-growing countries, the organisers said in a press release on Tuesday. In total. nearly 3,000 m[sup]2[/sup] of exhibition space has already been confirmed by ...
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PropertyEU Archive
DIC Asset continues successful letting and sales activities
Frankfurt-based DIC Asset said it had successfully placed five commercial properties from its 'Value-Added' and 'Opportunistic Co-Investments' segments, the total volume of which is around EUR 22mln, with various investors according to a statement released by the company on Thursday. The company said the properties, which are located in Frankfurt, ...
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PropertyEU Archive
Spain's Martinsa Fadesa to file for administration
Spanish property company Martinsa Fadesa said on Monday it would file for administration after failing to raise funds and meet debt payments, marking one of the biggest corporate failures in the country's history, Reuters and Bloomberg reported.
