All Real Assets articles in Web Issue – Page 295
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PropertyEU Archive
BAA to sell Gatwick Airport
UK airports operator BAA announced plans on Wednesday to sell Gatwick Airport, the second largest airport in the UK. Colin Matthews, BAA's chief executive, said that the company has decided 'to begin the process of selling Gatwick airport immediately.'
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PropertyEU Archive
Altarea opens new shopping centre in Paris station
French property company Altarea said on Wednesday that it has opened its new Les Boutiques Gare de l'Est shopping centre in Paris. 'The 5,400 m[sup]2[/sup] shopping mall brings the final touch to the refurbishment of La Gare de l'Est (Eastern Railway Station in Paris),' Altarea said in a statement. The ...
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PropertyEU Archive
Canary Wharf hit by Lehman bankruptcy
Canary Wharf Group, the company that runs the major financial estate in London is facing significant fall-out from the bankruptcy of US investment bank Lehman Brothers. Songbird Estates, the majority owner of Canary Wharf Group, confirmed on Wednesday that Lehman leases over one million square feet (95,000 m2) on a ...
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PropertyEU Archive
Barclays to buy Lehman Brothers' HQ in New York
British bank Barclays announced on Wednesday that it has agreed to acquire Lehman Brothers North American investment banking and capital markets operations. The deal, subject to US court approval, will include trading assets worth £40bn and trading liabilities valued at £38bn, the bank said in a statement. Barclays said that ...
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PropertyEU Archive
ICSC launches Serbian National Committee
The International Council of Shopping Centers (ICSC) has announced the establishment of a European National Committee in Serbia to support the growing retail development opportunities in the country.
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PropertyEU Archive
Hilton makes Russian debut
International hotel chain Hilton (HHC) has announced the launch of the Hilton Moscow Leningradskaya - its first property in Russia. The property will be the first of three Hilton hotels expected to open in the country this year.
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PropertyEU Archive
Sonae Sierra presents three new developments in Portugal
Sonae Sierra presented three new projects on Wednesday that the international shopping centre specialist will develop in the Portuguese cities of Leiria, Maia and Caldas da Rainha. The three projects - Maia Jardim, Centro Bordalo and LeiriaShopping - are expected to create about 3,000 new jobs and will represent a ...
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PropertyEU Archive
Morgan Stanley weighing whether to remain independent - report
US investment bank Morgan Stanley is mulling whether it should remain independent or merge with a commercial bank given the volatility in its share price and the collapse of Lehman Brothers, CNBC has reported, 'citing people close to the matter'. Morgan Stanley is not in merger talks yet, according to ...
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PropertyEU Archive
Deka acquires Cambridge retail park for EUR 114m
German investor Deka Immobilien said on Thursday that it has acquired the Cambridge retail park in the university city of Cambridge, UK, for about EUR 114 mln. The purchase adds another retail building to the portfolio of the company's open-ended fund Deka ImmobilienEuropa. The property was sold by a 72/25 ...
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PropertyEU Archive
Market halts trading in Orco shares after 20% drop
Shares in Czech property developer Orco stopped trading on the Prague stock market on Thursday after they slumped more than 20% from opening levels. Orco shares fell to an historical time low of EUR 14.11 on Thursday morning. The stocks shortly resumed trading and closed the day with a drop ...
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PropertyEU Archive
Minerva takeover talks with Limitless advance
UK property developer Minerva said on Thursday that negotiations for a possible takeover by Dubai-based Limitless World are ongoing and that Limitless' due diligence is 'substantially' complete. It added that a further announcement will be made when appropriate. The statement by Minerva came as the London-based builder announced its full ...
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PropertyEU Archive
ECE poaches director from Apsys
German retail developer ECE said that it has appointed Rafal Twarowski as new managing director of ECE Projektmanagement Polska, the group's Polish development unit. Twarowski will join the management board with responsibility for ECE operations and further growth in Poland. Twarowski will primarily focus on the development of new projects: ...
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PropertyEU Archive
JLL to manage The Bridge scheme in Edinburgh
International property services firm Jones Lang LaSalle (JLL) has been appointed to manage The Bridge mixed-use property in Edinburgh, UK. The £34 mln (EUR 43 mln) project by a joint venture of developer Kilmartin and the Bank of Scotland is located on the site of the former Lothian Regional Council ...
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PropertyEU Archive
Castellum buys and sells in Sweden
Swedish listed property company Castellum announced on Thursday that it has acquired seven properties for SEK 302 mln (EUR 31 mln) and sold one asset for SEK 28 mln. In a statement, the real estate firm also said that it signed new long term credit agreements of SEK 500 mln ...
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PropertyEU Archive
Christie + Co markets Europe's largest Express by Holiday Inn
Global business agent Christie + Co said it has been hired by UK hotel operator Kew Green Hotels and investor Close Ventures to sell the Express by Holiday Inn hotel at London Stansted - Europe's largest Express by Holiday Inn Airport. In a statement, the company said that it has ...
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PropertyEU Archive
Immofinanz dismisses rumours of impact from Lehman crisis
Austrian investor Immofinanz rushed to dismiss rumours on Thursday that the company or its 54%-controlled unit Immoeast has been affected by the collapse of US investment bank Lehman Brothers.
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PropertyEU Archive
Reita launches discount to NAV data for UK firms
Reita launched this week the first publicly available discount to Net Asset Value (NAV) data for UK commercial property. Reita - the education and awareness campaign for property investment and REITs - said it will publish on its website monthly figures reporting the average discount or premium to NAV of ...
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PropertyEU Archive
Multi Development opens Forum Duisburg in Germany
Dutch developer Multi said that its Forum Duisburg shopping centre opened its doors on Thursday in the German city of Duisburg. With about 57,000 m[sup]2[/sup] of retail floor area, the mall is currently the largest inner-city retail project in the North Rhine- Westphalia region of Germany.
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PropertyEU Archive
Sweden's largest mall opens its doors
Private property investment company Boultbee said on Thursday that its Skarholmen shopping centre has just re-opened in Stockholm following a ten year refurbishment programme. The property, which was bought by Boultbee last year, is the largest shopping mall in Sweden with 200 stores and a total lettable retail area ...
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PropertyEU Archive
Inrev: Investors keep faith in European non-listed funds
Institutional investors plan to increase their allocations to the real estate asset class despite the downturn in the market, according to a survey carried out by industry body Inrev. Over 70% of the institutional investors who responded to the survey said they intended to increase their allocation to real estate ...
