All Real Assets articles in Web Issue – Page 279
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PropertyEU Archive
Simon Nelson appointed European asset manager, ProLogis European Properties
Logistics provider ProLogis European Properties (PERP) has announced the appointment of Simon Nelson as Head of Asset Management, with effect from 1 August 2008. Nelson who will be based in Amsterdam, joined ProLogis in January 2001 with initial responsibility for investment acquisitions in Southern Europe. Latterly he has been ...
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PropertyEU Archive
BCO appoints Colliers director as new president
The British Council for Offices will appoint Nick Ridley, executive director of Colliers CRE, as president for 2008-2009 at the BCO’s AGM on Tuesday, the organisation announced in a press statement.
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PropertyEU Archive
Moscow beats City of London for office rents
Moscow has leapfrogged the City of London to become the second most expensive office location in Europe after rents there rocketed 46.2% in one year, reaching EUR 1,025.9 per m[sup]2[/sup] per annum, according to research by NB Real Estate, the commercial property agency, and Oncor International, the global commercial real ...
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PropertyEU Archive
Patrick Burgess to replace Robert Finch as chairman of Liberty International
UK real estate investment trust (REIT) Liberty International said Patrick Burgess would replace Sir Robert Finch as the chairman of its board, effective 31 July. Finch is stepping down after three years as chairman of the company, explaining in a statement that he now wanted to ...
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PropertyEU Archive
Imorendimento develops business park in Portugal
Imorendimento, the Portuguese company active in institutional real estate investment and asset management, is developing a business park in Paços de Ferreira, Northern Portugal. The project involves an investment of EUR 25mln.
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PropertyEU Archive
Meinl buyout gets the go-ahead from shareholders
An EUR 800mln investment by Israeli property company Gazit-Globe and US investor CPI Property Investors (CPI) in Austrian-listed property developer Meinl European Land (MEL) has been approved by Meinl shareholders in an extraordinary general meeting.
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PropertyEU Archive
W.P. Carey buys two properties in Germany
Investment firm W. P. Carey & Co. announced on Tuesday that CPA:16 Global and CPA:17 Global, two of its publicly held non-traded REIT affiliates, have purchased two properties in Soest and Bad Wünnenberg, Germany, from Arques Industries for approximately EUR 37mln. The properties have been leased back to ...
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PropertyEU Archive
German listed property companies lack transparency: Feri Rating
German listed property companies display a lack of transparency, according to the first transparency rating conducted by Bad Homburg, Germany-based Feri Rating & Research, with an average transparency level of just 36%. According to Feri, which also looked at Austrian and Swiss listed property companies, the most transparent ...
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PropertyEU Archive
IPD: UK Pooled Property Fund Returns fall for fourth consecutive quarter
UK Pooled Property Fund Indices reported a total return fall of -5.6% in Q2, 2008, according to the IPD report published on Thursday. The fall marks the fourth consecutive quarter of negative performance and a record decline of -19.9% on a 12-month rolling basis the report said.
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PropertyEU Archive
Union Investment: Sustainability driving decisions in property investment sector
A multi-speed Europe is now emerging among European property investors who are tackling the key issue of sustainability with varying degrees of priority and differing expectations, according to a report published on Thursday by Union Investment.
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PropertyEU Archive
IPD UK monthly index falls further in June
All property total returns for the IPD's UK Monthly Property Index fell by -1.5% in June , more than twice as much as in May when all property total returns slid -0.7%. The decline in capital growth increased markedly to -2.0% from -1.2% in May, with the pace of re-pricing ...
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PropertyEU Archive
VastNed sells seven properties in the Netherlands
Pan-European property fund VastNed Offices/Industrial has sold seven properties in the Netherlands for EUR 11.2mln in total. According to the company statement the sales were, on average, concluded at book value and the annual gross rental income of the seven properties totalled EUR 0.8mln. The statement added that the sales ...
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PropertyEU Archive
Catella acquires Stockholm office building for EUR 30m
The Munich-based Catella Real Estate AG said that it has acquired a Stockholm office property for about EUR 30mln. The building was acquired from Swedish pension fund Alecta, and has been earmarked for the Focus Nordic Cities open-ended property fund.
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PropertyEU Archive
SEB acquires office property in Poland
SEB Asset Management Deutschland has acquired an office building in the Polish city of Lodz for its SEB ImmoPortfolio Target Return Fund mutual fund from the Polish subsidiary of Dutch-based electronics giant Philips. The parties agreed not to disclose the purchase price.
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PropertyEU Archive
Commerz Real steps back into London office market
Germany's Commerz Real has returned to the UK property investment market as a buyer after an absence of more than two years with the acquisition of the Athene Place office building in London. The investment volume of EUR 124mln reflects a net initial yield of about 5.8%. Commerz Real, the ...
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PropertyEU Archive
DEPFA Bank opens up Warsaw branch
Depfa Bank, a Dublin-based subsidiary of Germany's Hypo Real Estate Group, said it has opened a branch office in Warsaw. The branch in the Polish capital is headed by Pawel Pilatkowski and has a total staff of five. Defra has had a Warsaw presence since 2005, when it ...
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PropertyEU Archive
Minerva gets share boost from Limitless offer
Minerva, the listed UK property development and investment company at the centre of takeover rumours for months, saw its shares rally to above 120p on Monday after the board confirmed it had received a proposal from Limitless amounting to 160p per share.
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PropertyEU Archive
Schmengler gets MD post at Deka Immobilien
Thomas Schmengler is to replace Gerhard Gminder as managing director of Deka Immobilien with responsibility for the group's global property purchases and sales on 1 September. Gminder is leaving the company voluntarily on 31 July 2008to follow other career options, Deka said.
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PropertyEU Archive
Wichford completes rent reviews with Trillium
Wichford, the listed UK property company focused on buildings occupied by government bodies, has announced the completion of an agreement on new leasing conditions for 16 of its buildings. The agreement, first announced on 30 May, was reached with Land Securities Trillium, which acted on behalf of the tenants.
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PropertyEU Archive
Credit Suisse buys office property in Austria for EUR 24.5m
Credit Suisse Asset Management Immobilien Kapitalanlagegesellschaft has acquired a 11,600 office building in Austria for EUR 24.5mln. The seller was San Diego-based Westcore Properties, which opened a European office in the Swiss city of Lausanne last year.
