All Real Assets articles in Web Issue – Page 29
-
PropertyEU Archive
Land Securities selling its sole leisure centre
Land Securities has put the Newcastle leisure centre The Gate up for sale as the UK-listed property giant prepares to convert to real estate investment trust (REIT) status in January.
-
PropertyEU Archive
Rodamco Europe divests Dutch outlet centre
Batavia Stad, the outlet shopping centre in the Dutch city of Lelystad, has been sold by Rodamco Europe to retail fund manager Bakkenist & Emmens for approximately EUR 38 mln. The purchase price was slightly below the latest book value but reflected a net initial yield of 5.6%.
-
PropertyEU Archive
Oracle pays record for Dockland's site
Oracle Group, a UK property company, is to match the record land price set in the London Docklands by buying a 1.4-hectare site there for 75 mln (EUR 111 mln), equivalent to £53.3 mln a hectare. Property Week reported that Oracle Holdings intends to develop a £400 mln scheme of ...
-
PropertyEU Archive
Colonia acquires 2,199 more residences in Berlin
Colonia Real Estate has announced the signing of a contract to purchase 2,199 residential units in Greater Berlin for EUR 72.50 mln. The portfolio comprises 121,000 m[sup]2[/sup] of residential and 14,000 m[sup]2[/sup] of office space as well as 1,013 parking spaces.
-
PropertyEU Archive
Italy, France and UK to join REIT club in mid 2007
Italy is to follow the example of the UK and Germany by introducing a real estate investment trust (REIT) next year. On Thursday the Italian parliament passed the 2007 Budget Law which contains the REIT legislation.
-
PropertyEU Archive
VastNed enters German market
VastNed, the Dutch-based office property investor, has taken its first step into the German market by acquiring an office building for EUR 34.6 mln in the prime Medienhafen business district of Dusseldorf. The property comprises 9,570 m[sup]2[/sup] of lettable area and has 52 underground parking place.
-
PropertyEU Archive
Klepierre takes stake in large French malls
France's Klepierre has acquired stakes in several large malls in France for a total investment of EUR 109.6 mln. The leading shopping centre manager in continental Europe said it has signed a memorandum of agreement to take full equity ownership of the Progest group owned by Henry Hermand, as ...
-
PropertyEU Archive
Delek in EUR 1.6 bn Marriot hotel deal
The Royal Bank of Scotland (RBS) has reportedly agreed to sell 47 hotels operated in the UK by the Marriot chain to a consortium led by Israel's Delek Belron International for EUR 1.6 bn. Delek Belron, a unit of Delek Real Estate, said it is to acquire a 17% stake.
-
PropertyEU Archive
Pirelli RE, GE buy EUR 2.4 bn non-performing loans
Italian property giant Pirelli RE and General Electric, through its subsidiaries GE RE Italia and Commercial Finance Services Italia, said they have acquired five portfolios of non-performing loans with a gross book value of some EUR 2.4 bn from Banca Antonveneta and its Interbanca unit.
-
PropertyEU Archive
Ferrovial sells RE unit for EUR 2.2 bn
Spanish construction group Ferrovial has signed a preliminary agreement with peer Habitat for the sale of its real estate subsidiary Ferrovial Inmobiliaria. The company said in a press release at the end of December that the sale, with a total enterprise value of EUR 2.2 bn, will be completed this ...
-
PropertyEU Archive
Dutch office take-up passes 2 million m[sup]2[/sup] in 2006
Office take-up in the Netherlands passed the 2 million m[sup]2[/sup] mark for the second year in a row in 2006, according to provisional figures compiled by property magazine PropertyNL. Amsterdam (400,000 m2) and Rotterdam (200,000 m2) were the strongest performers, while the take-up level in several smaller Dutch cities was ...
-
PropertyEU Archive
Deutsche Land buys Airport offices for EUR 200 mln
UK listed real estate company Deutsche Land has purchased the new Main Airport Centre (MAC) office complex at Frankfurt Airport for EUR 200 mln. The transaction, which is subject to shareholder approval, is deemed to be a reverse takeover. As a result, trading in the company's shares were suspended ...
-
PropertyEU Archive
Cosmani RE acquires EUR 28 mln asset in Madrid
Spanish property company Cosmani Inmobiliaria has acquired a plot of land with a build-on area of about 6,336 m[sup]2[/sup]. The asset, located in Villaverde, near Madrid, means an investment of EUR 28 mln, news agency Europa Press reported.
-
PropertyEU Archive
Astroc sells Landscape's assets for EUR 650 mln
Spanish real estate company Astroc Mediterraneo has announced the sale of several assets of its Landscape Promocions Immobiliaries property arm to General Electric RE Iberia for close to EUR 650 mln.
-
PropertyEU Archive
Inbisa invests EUR 80 mln in Iberdrola, Telefonica, Repsol
Basque real estate group Inbisa has announced it acquired stakes in three different companies, respectively Iberdrol, Telefonica and Repsol. These transactions involve a total investment close to EUR 80 mln, Spanish newspaper Cinco Dias has reported.
-
PropertyEU Archive
Bulgarian Land acquires residential site
Bulgarian Land Development has announced the acquisition of a 56,093 m[sup]2[/sup] regulated site near the Bulgarian winter resort of Borovets - the largest and most modern resort in Bulgaria. The company intends to develop a residential complex on the site, with an estimated sales value of about EUR 51 mln.
-
PropertyEU Archive
VastNed O/I acquires Mechelen Campus properties
Dutch office property investor VastNed Offices/Industrial has acquired the Mechelen Tower and building F properties in the business park Mechelen Campus in Belgium for EUR 27.9 mln from developer Macquarie Goodman. The buildings, which are to be delivered in June 2007, have a combined floor space of 15.400 m2, ...
-
PropertyEU Archive
Befimmo to sell shares after winning Belgian contract
Brussels-based real estate investment vehicle Befimmo is to issue shares to raise between EUR 180 mln and EUR 200 mln following the coup at the end of December when it snatched a Belgium government real estate contract from rival Cofinimmo.
-
PropertyEU Archive
Land Securities becomes REIT heavyweight
British real estate giant Land Securities confirmed that it has elected real estate investment trust (REIT) status as of January 1. 'From today, we have become of the three largest REITs in the world and the UK's largest REIT by market capitalisation,' commented ceo Francis Salway in a statement issued ...
-
PropertyEU Archive
Largest Romanian investment deal brokered by DTZ
Global real estate adviser DTZ has completed the largest office investment deal in Romania on behalf of Europolis RE Asset Management. The transaction involves an investment of EUR 90 mln in order to complete the purchase of the first-phase of Sema Parc development, Freeman European News has reported.
