All Real Assets articles in Web Issue – Page 287
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PropertyEU Archive
Segro sells two UK portfolios for a total EUR 138m
UK-based logistics property company Segro said on Wednesday that it has agreed the sale of two industrial portfolios, one to The Crown Estate for £64.4 mln (EUR81 mln), and the other to a client of Protego Real Estate Investors LLP for £45.8 mln (EUR57.5 mln).
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PropertyEU Archive
CoreNet sets up Central Europe branch
Corporate real estate association CoreNet Global has established a new branch for Central Europe, covering Germany, Switzerland, Austria, the Czech Republic, Hungary, Liechtenstein, Poland, Slovakia and Slovenia.
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PropertyEU Archive
British Land chief takes up non-executive post at RBS
Stephen Hester, CEO of British Land, is to assume the position of non-executive director at the Royal Bank of Scotland (RBS) from October 1. At the same time, he will relinquish his role as non-executive deputy chairman of embattled British bank Northern Rock after just seven months in the job.
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PropertyEU Archive
Conwert launches new share buyback scheme
Austrian residential property company Conwert Immobilien Invest said it will take advantage of its current low share price to buy back more shares. The Vienna-based company will purchase up to 4.7 million ordinary shares (or around 5.5% of its basic capital) at EUR 8-13 per share between 29 August 2009 ...
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PropertyEU Archive
King Sturge: German gloom deepens, Czech market stable
Sentiment in Germany’s real estate market deterioriated further in August compared with July, according to King Sturge's latest monthly survey of 1,000 market professionals.
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PropertyEU Archive
Savills expands Dusseldorf investment team
Property adviser Savills has recruited Matthias Radetzki as senior consultant for its Dusseldorf-based investment team to focus on the key cities of the Ruhr region including Essen, Duisburg and Dortmund.
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PropertyEU Archive
Norway's SPDE puts Fornebu project on hold
Norwegian listed property company Scandinavian Property Development (SPDE) said on Wednesday it is postponing the start in construction work on the Storøya section of the Fornebu development near Oslo due to uncertain market conditions for new residential property. SPDE will reconsider the issue in early 2009, when it will decide ...
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PropertyEU Archive
Catella benefits from robust Nordic market in H1
Stockholm-based Catella Property Group saw transactional volumes rise to EUR4 bn in the first half of 2008 from EUR3.6 bn in the year-earlier period, reflecting its strong market positions in The Nordics, Belgium, France and Germany.
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PropertyEU Archive
Chartered Land plans EUR1 bn expansion of Dublin shopping centre
Irish commercial property company Chartered Land has applied for planning permission to Fingal County Council for a EUR1 bn expansion of the Swords Pavilions shopping centre in north Dublin.
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PropertyEU Archive
Terreis acquires Paris office complex for EUR23.5m
French SIIC Terreis has acquired an office complex in Paris from the R-SIIC company for EUR23.5 mln. The complex consists of three office buildings providing a total 6,200 m[sup]2[/sup] of space and located in Cité Paradis in the 10th Arrondissement of Paris.
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PropertyEU Archive
Raven Russia secures EUR65 mln loan facility
Raven Russia, the Guernsey-registered, AIM-listed property investment group, said on Thursday that its Megalogix warehouse joint venture has signed a $95 mln (EUR65 mln) loan facility agreement with the International Finance Corporation (IFC), part of the World Bank Group.
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PropertyEU Archive
CBRE Investors acquires Airport Plaza in Brussels
CB Richard Ellis Investors, through its Luxembourg-based Strategic Partners Europe Fund, has acquired the Airport Plaza business park project in Brussels from Belgian developer Robelco for an undisclosed amount.
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PropertyEU Archive
Akron and R-Quadrat to develop office complex in Kiev
Austrian real estate company Akron has agreed to purchase 100% of the Prospekt Peremogi 67 office project in the Ukranian capital Kiev as part of a forward purchase agreement with R-Austrian peer Quadrat. On Thursday, Akron signed up for a 40% share of the project, which it will develop together ...
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PropertyEU Archive
Savills to cut staff as first-half profits slump
Property adviser Savills said on Thursday that it will seek to realise cost savings of £20 mln (EUR25 mln) in 2008 as pre-tax profits and revenues for the first six months of the year slid mainly as a result of the market downturn in the UK and Europe.
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PropertyEU Archive
Green light for Waterside regeneration project
Warner Estate and Aylesbury Vale district council have signed a formal agreement for the development of the mixed-use Waterside Shopping regeneration project in Aylesbury in the UK.
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PropertyEU Archive
Prologis leases 26,000 m[sup]2[/sup] to Cedilec in Le Havre
Logistics property giant Prologis said it has leased around 26,000 m[sup]2[/sup] of space in its Park du Hode in Le Havre, France. In a statement, the company said that the new building is the second to be occupied by Cedilec in the 150,000 m[sup]2[/sup] park located 7 km away from ...
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PropertyEU Archive
Corio 1H net profit down 80% despite increased rental income
Dutch retail property specialist Corio said its net profit in the first six months of 2008 fell to EUR 69.8 mln from EUR 339.8 mln in the like, year-earlier period, as a 16.8% increase in net rental income was offset by a negative revaluation result and higher financing costs.
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PropertyEU Archive
Curzon jv buys £139.3m UK property portfolio from Prupim
Investment funds controlled by Curzon/AEW Europe and Mountgrange Investment Management said they have purchased a portfolio of 28 UK properties from one of the institutional funds of Prupim, the property arm of British life insurer Prudential, for £139.3 mln (EUR 172.8 mln). The expected net initial yield on the portfolio ...
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PropertyEU Archive
Degi buys business park in Warsaw for EUR167 mln
Degi, part of Aberdeen Property Investors, has acquired the Marynarska business park in Warsaw for EUR167 mln from the developer Ghelamco. The property will be added to Degi's international open-ended property mutual fund, which focuses on international commercial property.
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PropertyEU Archive
European investment activity drops by 67% in Q2
European investment in commercial property dropped 67% year-on-year to EUR 8.6 bn in the second quarter of 2008, reaching its lowest level since the first quarter of 2004, property services firm Atisreal International said in its latest research report. Investment activity in the first six months of 2008 dropped by ...
