All Real Assets articles in Web Issue – Page 288
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PropertyEU Archive
UK, Irish banks provide EUR 205m funding for airport deal
Abbey UK Corporate Banking, Bank of Ireland and Ireland's AIB Group, have acted as joint lead banks on a £l65 mln (EUR 205mln) debt funding and hedging arrangement for the Arora Family Trust's recent acquisition of a portfolio of 31 properties located around major UK airports.
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PropertyEU Archive
Property market conditions endanger UK’s green agenda: Velux
The slowdown in the UK property market poses a serious threat to meeting the aims of the UK’s green agenda and is hindering the further development of eco technologies, according to the latest findings from the sustainability division of skylight, roof window and solar energy water heating system manufacturer Velux.
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PropertyEU Archive
Babcock & Brown executive steps down
Babcock & Brown said that the chief executive of its power division, Dr. Paul Simshauser, on Friday stepped down from his role to take a senior position within the group's infrastructure’s division. Simshauser's resignation from Babcock & Brown Power, Australia's biggest publicly traded electricity producer, comes as the company reported ...
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PropertyEU Archive
Carpathian distances itself from Dawnay Day with name change
Dawnay Day Carpathian, the AIM-listed property company focusing on investments in central and eastern Europe, is now known simply as Carpathian as shareholders ratified the name change at a recent extraordinary general meeting.
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PropertyEU Archive
Global office market fundamentals still solid
Many office markets continue to post solid fundamentals despite year-long volatility in financial markets, according to the latest Colliers Global Office Real Estate Review, which currently features 172 office markets. Nonetheless, Colliers believes that in the second half of 2008 and 2009, office markets in all regions should become more ...
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PropertyEU Archive
Babis Vovos receives go-ahead for 32,000 m[sup]2[/sup] mall in Athens
Greek real estate company Babis Vovos (BVIC) said on Monday that it has been granted a permit to complete the construction of the Votanikos shopping mall in Athens. In a statement, BVIC said that the municipality of Athens has given the final approval to the 32,000-m[sup]2[/sup] property, which the firm ...
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PropertyEU Archive
Colonial posts EUR 2.4 bn loss in H1 2008
Spanish real estate firm Colonial suffered a EUR 2.38 bn loss in the first half of 2008 because of falling asset values amid Spain's housing market crisis and increasing borrowing costs. In a statement, the company said that the asset writedowns were attributable to 'extraordinary impairment losses' for investments in ...
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PropertyEU Archive
Quantum acquires Munich office complex for EUR 130m
Hamburg-based Quantum Immobilien has acquired an historical building complex in Munich's city centre from real estate lender Hypo Real Estate Bank for EUR 130 mln. The five-building property is located on Ludwigstrasse and Von-der-Tann-Strasse in the Maxvorstadt district in the immediate proximity of the Siegestor, Odeonsplatz and the Englischer Garten. ...
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PropertyEU Archive
Eurosic, CDC buy Terra Nova II building for EUR 153m
A 50-50 joint venture of French investor Eurosic and bank Caisse des Depots et Consignations has acquired the Terra Nova II office building in Montreuil-sous-Bois near Paris from Generali. The transaction price comes to a total EUR 153 mln. The fully-let property provides 31,800 m[sup]2[/sup] of office space and generates ...
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PropertyEU Archive
Corio seeks buyers for EUR 200m Dutch portfolio
Dutch real estate company Corio plans to offload EUR 200 mln worth of assets in the Netherlands. The portfolio includes 25 small retail properties - mostly supermarkets and small shopping centres in secondary locations across the country. According to Gerard Groener, new CEO of Corio, the assets didn't offer growth ...
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PropertyEU Archive
LaSalle fund to spend EUR 8 bn on Asian opportunities
LaSalle Investment Management has said its Asia Opportunity Fund III will have a potential warchest of EUR 8.2 bn to spend on real estate in developed parts of Asia. Announcing the final closing of the fund, LaSalle said it had raised EUR 2 bn, which with leverage would give the ...
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PropertyEU Archive
Grosvenor seals apartment deal for Liverpool One scheme
UK property company Grosvenor said on Monday it has signed a deal with two companies regarding the residential section of the £1 bn Liverpool one development. In a statement, Grosvenor said that housing and serviced apartment operator BridgeStreet Worldwide and investor Plus Dane group are to lease the five residential ...
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PropertyEU Archive
ING RE appoints new CEO of global investment management
ING Real Estate has announced the appointment of Robert Houston as chairman and CEO of its global investment management business. Houston has replaced David Blight who resigned to return to Australia for family reasons. Houston was an original founder of ING Real Estate's investment management business in the UK, and ...
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PropertyEU Archive
RICS calls for major housing market reform
The Royal Institution of Chartered Surveyors (RICS) has called on the UK Government to take 'significant and decisive' action to deal with the current housing market downturn. In a statement on Monday, RICS described the government's attempts to address the problems as 'limited' and 'with little real impact' and proposed ...
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PropertyEU Archive
Focus Nordic Cities picks up Riga office property
Focus Nordic Cities, a German open-ended real estate fund managed by Catella Real Estate, has acquired a 12,800 m[sup]2[/sup] office property located on one of the main streets in the Latvian capital Riga. The property on Duntes Street was developed and sold by Baltic developer E.L.L. Real Estate and is ...
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PropertyEU Archive
Ruud Storms leaves the management of NSI
Nieuwe Steen Investments (NSI) has announced Ruud Storms is to resign from the management board on 1 October. Storms was responsible for the operational management of the NSI real estate portfolio in the Netherlands.
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PropertyEU Archive
Sacyr mulls EUR 1bn sale of Valoriza to cut debt
Spanish construction group Sacyr plans to sell its environmental services division to cut its debt which currently stands at EUR 18 bn. Spanish newspaper Expansion reported on Tuesday that the company could raise EUR 1 bn from the disposal. Italian bank Mediobanca is advising the company on the sale process, ...
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PropertyEU Archive
IVG to sell EUR 1.7bn caverns to its own fund
Germany's IVG Immobilien said on Tuesday it is to sell 70 caverns to a fund it manages for unnamed institutional investors. In a statement, the German company said that its IVG Caverns Fund will acquire 40 operational caverns as well as 30 additional caverns which are currently under construction and ...
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PropertyEU Archive
C&A takes 44,100 m[sup]2[/sup] at new Prologis facility near Paris
Prologis announced on Tuesday that it is to build a 44,100-m[sup]2[/sup] industrial warehouse near Paris for the French subsidiary of international clothing retailer C&A.
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PropertyEU Archive
RVG spends EUR 125m on German homes
Dutch residential property group RVG Real Estate has acquired a portfolio of 2,100 homes in Germany for EUR 125 mln. The investor and developer said the deal underlined its ambition to expand the company's portfolio beyond the Netherlands.
