All Real Assets articles in Web Issue – Page 298
-
PropertyEU Archive
Gecina dusts off share buyback plan
Paris-listed property company Gecina said on Wednesday that its board has proposed re-launching the share buyback programme that was blocked by French financial regulator AMF last December. The share buyback is crucial for the resumption of the planned demerger from Spanish real estate group Metrovacesa. Gecina said it expected to ...
-
PropertyEU Archive
Swedish pension fund gets seat on Kungsleden election committee
Swedish listed property company Kungsleden said it has appointed Carl Rosen to its election committee to represent shareholder the Second AP (National Pension) Fund. His appointment follows the fund's recent disclosure that it now owns 5.1% of the shares and equity of Kungsleden, making it the largest single investor in ...
-
PropertyEU Archive
JLL: Office rental growth slows down in Europe
The commercial real estate market cycle has turned further in favour of the occupier across Europe, but more occupiers are adapting a wait-and-see strategy, according to Jones Lang LaSalle's EMEA Occupier Conditions Report for the third quarter of 2008.
-
PropertyEU Archive
DTZ to rate Royal Mail Group Property
Royal Mail Group has awarded its rating contract to DTZ for over 2,500 UK properties following an extensive tender process. As national rating adviser, DTZ will help Royal Mail seek savings from what is one of the UK's largest property estates. Martin Gafsen, group property director of Royal Mail Group ...
-
PropertyEU Archive
Metro hires JP Morgan for Kaufhof sale
Germany's largest retailer Metro has appointed JP Morgan to lead the sale process of its Kaufhof department stores. According to news reports in Bloomberg and Reuters, the retail giant confirmed it is having 'preliminary talks' with potential buyers, but added that the official sale process has not started yet.
-
PropertyEU Archive
Multi Turkmall opens new mall in Turkey
Multi Turkmall has opened its Forum Aydin shopping and lifestyle centre in Turkey, the fifth Turkmall scheme to open in the country within the last two years. The opening ceremony was attended by Ertugrul Gunay, the Minister of Culture and Tourism, as well as local government officials.
-
PropertyEU Archive
Limitless enters Indonesia with $1.7b JV in Jakarta
Limitless, the global real estate arm of Dubai World, said on Thursday it is to develop a $1.7bn mixed-use project in the Indonesian capital Jakarta. The 33-hectare Rasuna Epicentrum is the first project for Limitless in Indonesia, and the fourth in South East Asia. The company already has developments underway ...
-
PropertyEU Archive
AMB leases 14,600 m[sup]2[/sup] at Madrid airport development
AMB Property Corporation, the San Francisco-based property developer and owner, has leased more than 14,600 m[sup]2[/sup] in a development adjacent to Madrid's Barajas International Airport to three customers. The main tenant is food and beverage group Leche Pascual, which is taking up 9,700 m[sup]2[/sup] and will use the facility for ...
-
PropertyEU Archive
Corio to put EUR 200m retail assets on market
Dutch retail property company Corio plans to sell 21 retail properties with a total value of EUR 200 mln. The porfolio comprises shopping centres, supermarkets and shops in A1 locations across the Netherlands, PropertyNL, the sister publication of PropertyEU, has reported. Corio has hired CB Richard Ellis to manage the ...
-
PropertyEU Archive
GTC in talks to sell 50% of Warsaw mall
Global Trade Centre, the real estate subsidiary of international investment group Kardan, is in discussions to sell its 50% stake in Warsaw shopping centre Galeria Mokotów to Franco-Dutch property group Unibail-Rodamco. Unibail-Rodamco already owns the other 50% holding indirectly.
-
PropertyEU Archive
Quantum buys German portfolio for EUR 52m
Hamburg-based Quantum Immobilien has purchased a commercial real estate portfolio for EUR 52mln. The portfolio consists of six office properties and one office and commercial building with total rental space of about 35,000 m[sup]2[/sup] located in the cities of Düsseldorf, Munich, Wupertal and Cologne. One of the properties, a vacant ...
-
PropertyEU Archive
Deka acquires Italian logistics portfolio for EUR 60m
German property investor Deka Immobilien has acquired a new development project for three warehouses in the northern Italian province of Piacenza for approximately EUR 60 mln. The project was bought from Milan-listed project development company Realty Vailog for Deka's Deka-ImmobilienEuropa funds.
-
PropertyEU Archive
Deka to focus on asset management
German investor Deka Immobilien said it has outsourced the property management of all its 220 properties in Germany, exclusive of shopping centres, as it seeks to focus its business on asset management. Hochtief Property Management and DeTeImmobilien will be responsible for the commercial and technical management of the portfolio from ...
-
PropertyEU Archive
SEB fund wins IPD award
SEB Asset Management has been awarded the IPD EuroProperty award for investment performance in Germany. Its SEB ImmoPortfolio Target Return Fund, which is a open-ended property fund with a global remit, was singled out in the 'specialist fund' category for providing the highest total return relative to the appropriate sector ...
-
PropertyEU Archive
FSA rejects requests to ban short selling of property stocks
The UK 's Financial Services Authority (FSA) has rejected pleas from a dozen listed real estate companies to ban short selling of their shares. The FSA was inundated with requests from property companies following the introduction last week of a ban on shorting banks and insurers.
-
PropertyEU Archive
Immofinanz posts loss on devaluation of Immoeast portfolio
Austrian property investor Immofinanz announced a first-quarter loss Thursday, saying a hefty devaluation of the real estate portfolio of Immoeast, its unit focused on business in emerging markets in Europe, weighed on its results.
-
PropertyEU Archive
Union Investment enters Switzerland, shops in Japan
German investor Union Investment has acquired the CityWest Gebäude F office project in the centre of the Swiss city of Zurich for EUR 80 mln. The asset - Union Investments first in the country '- is earmarked for the open-ended fund Unimmo: Europa. The building will offer 20,400 m[sup]2[/sup] of ...
-
PropertyEU Archive
Metrovacesa fails to find investor for HSBC tower
Metrovacesa, Spain's largest property company, is struggling to sell a stake in the HSBC tower in London's Canary Wharf. The Madrid-based company, which faces EUR 7.1 bn in debt, is seeking to attract new investors for the trophy building but according to an article in the Financial Times on ...
-
PropertyEU Archive
Skanska sells project in Warsaw for EUR 115m
Swedish construction giant Skanska has sold the Atrium City commercial development in Warsaw for EUR 115 mln to the German investment fund Deka. Skanska said in a statement that it has booked a capital gain of EUR 37 mln through the transaction. The project is expected to be 70%-completed by ...
-
PropertyEU Archive
Songbird Estates' NAV drops by 21% on property depreciation
Songbird Estates, the majority owner of London's Canary Wharf, said on Friday that its net asset value has dropped by 21.2% in the course of the first six months of the year, from £2.35bn at end-December 2007 to £1.85bn at the end of June this year. The company added that ...
