All Real Assets articles in Web Issue – Page 281
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PropertyEU Archive
Thales UK picks King Sturge
Thales UK has appointed King Sturge as its UK property adviser to help it get the full financial benefit from its real estate holdings. The aerospace and defence contractor has a portfolio of 120 sites in the UK totalling more than 280,000 m[sup]2[/sup]. Thales plans to undertake a full market ...
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PropertyEU Archive
Cedilec leases 25,000 m[sup]2[/sup] near Le Havre from Prologis
Cedilec, a French provider of third-party logistics for the food retail industry, has leased 25,000 m[sup]2[/sup] of space at Prologis' 150,000 Park du Hode park near the French port of le Havre. Cedilec is already leasing just over 19,000 m[sup]2[/sup] of space in the same park. Prologis said Cedilec has ...
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PropertyEU Archive
Depfa signs EUR 1bn loan with Spanish airport operator
Depfa, the infrastructure bank, has signed a EUR 1bn public finance loan with Spanish state-owned airport operator Aena that will be used to help pay for the expansion of Barcelona, Alicante and Malaga airports. The agreement was signed on 2 July and AENA has up to two years to drawn ...
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PropertyEU Archive
Hotel sales plummet in H1 2008
The volume of global hotel sales plummeted in the first six months of this year, declining 76% on the bumper period a year ago. Yet $13.9bn (just under EUR 9bn worth) of hotel properties were traded in the first half of this year despite the continuing credit crunch, according to ...
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PropertyEU Archive
Eurohypo arranges EUR 147.5m for Prague development
German real estate bank Eurohypo, acting as sole arranger, is providing EUR 147.5mln financing to a new Galerie Harfa shopping and office centre development in Prague. The centre being developed by Lighthouse Group will comprise 39,000 m[sup]2[/sup] of retail floor space and just under 15,000 m[sup]2[/sup] office floor space. Eurohypo ...
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PropertyEU Archive
UK All-Property returns at 30-year low
The UK real estate sector stayed in negative territory in the second quarter of 2008. Jones Lang LaSalle's UK Property Index recorded an All-Property total return for the period of -1.3%. This translated into annual total returns of -15.1%, which the property services company said was the lowest annual figure ...
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PropertyEU Archive
Valad acquires 50% in Luxembourg office development
Sydney-based Valad Property Group has announced the acquisition of a 50% stake in an office development in Luxembourg in a joint venture with Belgian developer Valeres. valad - which acquired UK based groups Scarborough and Teesland in 2007 to expand its European operations - said that Contern Business Park is ...
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PropertyEU Archive
MGPA acquires Milan office development for EUR 53m
Private equity real estate firm MGPA has agreed to acquire a Grade A office scheme in Milan for EUR 53mln when it is completed. The property is being acquired for MGPA Europe Fund III, part of the larger MGPA Fund III which closed in June 2008 with commitments of EUR ...
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PropertyEU Archive
RREEF-Pirelli consortium completes EUR 800m Highstreet deal
A consortium consisting of RREEF, Pirelli Real Estate, Luxembourg-based Borletti Group and Generali Group has completed its acquisition of a 49% stake in Highstreet, a joint venture between Goldman Sachs and Arcandor, the investment company that owns the majority of the German department stores operated by Karstadt, for EUR 800mln.
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PropertyEU Archive
Aberdeen clients invest in Sierra Portugal Fund
Two clients of Aberdeen Property Investors have invested in an additional closing of the Sierra Portugal Fund (SPF). Portuguese shopping centre group Sonae Sierra said that following the two investments with a combined gross commitment of more than EUR 55mln correspond to an 18% interest in SPF and bring the ...
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PropertyEU Archive
Klepierre, ABP buy top Scandinavian mall owner
Listed French real estate group Klepierre and Dutch pension fund ABP have jointly acquired Steen & Strom, the largest shopping centre owner in the Scandinavia region, for a total investment volume of EUR 2.7bn - the biggest European property investment deal so far this year.
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PropertyEU Archive
Immoeast shareholders approve Constantia's deal
The shareholders of Immoeast, the Austrian-based property investor focused on Central and Eastern Europe, have approved a management motion to acquire a majority stake of the real estate activities of Constantia Privatbank. The takeover is being carried out with Immoeast's parent company Immofinanz.
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PropertyEU Archive
CBRE arrange financing for Italian hotel owner
CB Richard Ellis said its EMEA debt advisory and hotels teams have arranged EUR 60mln financing for a portfolio of NH hotels in Italy owned by Framon Real Estate. In a statement, CBRE said the final terms of the financing were agreed with WestLB, Westdeutsche ImmobilienBank and UniCredit.
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PropertyEU Archive
CBRE, JLL mauled by credit crunch
CB Richard Ellis and Jones Lang LaSalle, the top two global property services firms, have revealed dramatic declines in profit during the second quarter of 2008 as the credit crunch continues to slow transaction activity.
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PropertyEU Archive
European real estate futures cleared for US trading
The way has been cleared for US investors to use future contracts based on the benchmark FTSE EPRA/NAREIT Europe and FTSE/EPRA Euro Zone indices to get exposure to European real estate stocks. The Washington-based Commodity Futures Trading Commission (CFTC) ruled recently that the futures traded on NYSE Euronext's Liffe derivative ...
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PropertyEU Archive
Evans Randall moves into debt financing with ex-Capmark team
Private UK banking group Evans Randall has poached an entire debt lending team from real estate lender Capmark Finance Group to establish a EUR 625mln mezzanine and preferred equity fund targeted at leveraged property deals in the current turbulent market. The fund, known as Evans Randall Capital Partners, will operate ...
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PropertyEU Archive
ING Real Estate launches global fund of funds
ING Real Estate Select has announced that the London Pensions Fund Authority (LPFA) is putting up £150mln (EUR 191mln) as the seed investor in the global multi-manager's Orisis Property fund. ING Real Estate Select, the multi-manager business of ING Real Estate, said that Global Oisiris is one of the first ...
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PropertyEU Archive
Global deal volumes down 41% in H1 2008 - JLL
Global commercial property transaction volumes fell 41% in the first half of 2008 from the record levels in the same period the year before, according to a report from Jones Lang LaSalle.
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PropertyEU Archive
Prologis leases 19,600 m[sup]2[/sup] in Bucharest facility to Centrum Logistics
Logistics property giant Prologis has leased 19,600 m[sup]2[/sup] of modern industrial space in Bucharest to third-party logistics provider Centrum Logistics, a subsidiary of Belgian transport and logistics group Groep H. Essers.
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PropertyEU Archive
European real estate market 'took an early holiday' in 2Q
Commercial property prices across Europe took a further hit in the second quarter, with yields rising to their highest since 2006. At the same time, investment volumes plummeted by 63% on the same period last year, according to new research by Cushman & Wakefield.
