All Real Assets articles in Web Issue – Page 293
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PropertyEU Archive
Propinvest closes EUR 1.9bn Banco Santander purchase
Spain's largest bank Banco Santander has completed the sale of its head office in Madrid to a consortium led by the UK property investor Propinvest. The bank, which acquired ABN Amro Bank last year together with Fortis and Bank of Scotland, said in a statement to the market authorities ...
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PropertyEU Archive
Hammerson in £230m City deal with Deka
UK property company Hammerson and its joint venture partner Pearl Assurance have exchanged contracts with German open-ended fund Deka Immobilien for the sale of the long leasehold interest in Moorhouse, 120 London Wall, in the City of London. Deka agreed to pay £230 mln (EUR 289 mln) for the ...
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PropertyEU Archive
Host Hotels, GIC, ABP team up in EUR 565m hotel deal
Host Hotels & Resorts has announced that its European joint venture with Dutch pension fund ABP and an affiliate of Singapore's GIC Real Estate has acquired six hotels in France, Germany and the Netherlands for a total of EUR 565 mln. Host is the largest lodging real estate investment trust ...
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PropertyEU Archive
AXA sells in Barcelona for EUR 90m
French insurance group AXA has sold its headquarters at Avenida Diagonal in Barcelona to a local investment group for EUR 90 mln. Property services group Savills advised the vendor on what has been described as the largest transaction this year in the Catalan city.
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PropertyEU Archive
CBRE takes over Belgian retail advisor C&T
International real estate services firm CB Richard Ellis (CBRE) said on Friday that it has acquired the Belgian real estate consulting company C&T Retail for an undisclosed amount. The deal enables CBRE to establish an office in Antwerp, the property advisor added. Created eight years ago by Patrick Tacq and ...
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PropertyEU Archive
German open-ended funds increasingly eye Asia and Latin America
As the credit crunch continues to tighten its hold on European real estate markets, some European investors - including Germany's open-ended funds - are increasing their bets on Asia and Latin America. Germany's open-ended real estate funds have put the valuations scandals of 2005 behind them to re-emerge as major ...
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PropertyEU Archive
Grosvenor sells in retail space in France and Belgium
International property company Grosvenor has sold 10,500 m[sup]2[/sup] of retail space in Villeneuve d'Ascq, near Lille to fund manager Uffi Real Estate Investment Management. The tenants of the property include retailers Lapeyre, Aubert, and Maxi Toys.
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PropertyEU Archive
Savills poaches investment director from C&W
International property consultant Savills said on Friday that it has appointed Eusebi Carles to join its Barcelona office as director of office investment and agency. Eusebi has 19 years experience in the property sector and most recently worked as an associate partner in the investment team at Cushman & Wakefield ...
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PropertyEU Archive
Hypo Real Estate unveils two US loan deals
Hypo Real Estate Capital Corporation (HRECC), the US subsidiary of Munich-based Hypo Real Estate, has revealed it has taken a $46 mln interest in a $121 mln mortgage loan for the refinancing of the InterContinental Chicago hotel. The loan was originated by Citibank and the transaction closed in early July.
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PropertyEU Archive
Fortis shops for EUR 50m
Dutch real estate asset manager Fortis Vastgoed Vermogensbeheer has acquired a retail development in Vleuterweide Centrum, the Netherlands, from a joint venture of developers Multi Vastgoed and Fortis Vastgoed Ontwikkeling for EUR 50 mln. The mall, located near the city of Utrecht, consists of 15,000 m[sup]2[/sup] of retail space, 2,500 ...
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PropertyEU Archive
Alpha Bank provides EUR 50m financing to Argo RE fund
Argo Real Estate Opportunities Fund, a closed-end fund focused on the CEE region, said on Monday that it has received a EUR 50 mln refinancing facility from Greece's second largest lender Alpha Bank. The company said it will use the proceeds of the financing to improve the group's capital structure ...
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PropertyEU Archive
Supernova to build EUR 500m mall in Zagreb
Supernova Holding has said it will invest EUR 500 mln in the development of a shopping and entertainment centre in Zagreb. The Austrian investment group will develop the mall in Buzin, on the outskirts of Zagreb, via its Croatian unit Supernova Hrvatska. The scheme will have a surface area of ...
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PropertyEU Archive
Colonial seals EUR 7bn debt restructuring deal
Spanish real estate company Colonial has reached a binding agreement with its banks to restructure its EUR 7 bn mountain of debt. In a statement on Monday, the company said that banks Calyon, EuroHypo, Goldman Sachs and Royal Bank of Scotland have agreed to extend the maturity date on a ...
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PropertyEU Archive
Israelis to develop 8-hotel all-season resort in Bulgaria
Tel Aviv-listed Asim Real Estate and Israeli real estate group Tidhar have entered a partnership with the Bulgarian Investment Group to develop an all-season resort in Razlog, a ski town in south-western Bulgaria, the Sofia Echo has reported.
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PropertyEU Archive
JLL set to cut 80 jobs in England
Jones Lang LaSalle (JLL) is to make up to 80 staff redundant in England because of the challenging financial and economic climate. In a statement on Monday, the international property services firms said it has 'taken the difficult but necessary decision to make 60 - 80 redundancies affecting employees based ...
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PropertyEU Archive
APF, CdD JV invests EUR 80m in French assets
Dutch fund manager APF International is putting its eighth real estate fund on the market. The fund will focus on investment in France where APF International has just established a joint venture with Paris-based Caisse des Dépôts et Consignation. The partnership has purchased four office buildings in the country for ...
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PropertyEU Archive
Hansainvest acquires trade park in Finland
Hansainvest, a part of the German Signal-Iduna Group, has signed agreements with Finland's YIT Construction and Etera Mutual Pension Insurance Company to buy more than 20,000 m[sup]2[/sup] of commercial and storage space at a trade park in the Finnish city of Espoo. The total transaction volume comes to EUR 30 ...
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PropertyEU Archive
JER appoints Barnes as head of European asset management
JER Partners (JER), the private equity commercial real estate investment division of the J. E. Robert Companies, has announced that Chester Barnes has joined the firm as managing director, head of European asset management. Barnes will be responsible for overseeing the asset management activities of JER' s European private equity ...
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PropertyEU Archive
Zublin sells properties in Winterthur and Bern
Swiss property company Zublin said on Monday that it has sold its buildings located in Winterthur and one of its office properties in Bern for CHF52 mln (EUR37 mln) net of costs. The sale is in line with the group's strategy to focus on the cities of Zurich and Geneva, ...
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PropertyEU Archive
German fund manager buys Boston office tower
Munich-based fund management group GLL Real Estate Partners has acquired a 16-storey office tower in the financial district of Boston on behalf of European institutional investors for $167 mln (EUR 118 mln). The vendor of the property at 200 State Street was Broadway Partners, a private real estate investment and ...
