All Real Assets articles in Web Issue – Page 299
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PropertyEU Archive
Caam RE buys for EUR 35m in Milan
Caam Real Estate, the real estate asset management arm of French bank Credit Agricole, has completed the acquisition of a commercial building in the northern Italian city of Milan from Svi.Me. The transaction amount comes to EUR 35 mln, excluding costs. The property is currently let to German adhesive technology ...
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PropertyEU Archive
MGPA offers EUR 56m lifeline for Plantation Place
MGPA, a private equity real estate fund backed by Macquarie Group, has offered an emergency injection of EUR 56.7 mln (£45 mln) for the vehicle that owns Plantation Place, a City of London office complex. The vehicle, which is owned by Stobart, Tishman International and Invista Foundation Property Trust faces ...
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PropertyEU Archive
Bristol Alliance opens largest retail-led regeneration scheme in UK
Cabot Circus in Bristol, the largest city centre shopping and leisure destination in the UK, opened to the public last week. Developed by Alliance partners Land Securities and Hammerson, the EUR 63 mln (£50 mln) regeneration scheme is the first retail-led scheme in the UK to achieve a BREEAM 'Excellent' ...
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PropertyEU Archive
Canadian pension fund increases stake in Hammerson
Ontario Teachers' Pension Plan, Canada's largest single-profession pension plan, has increased its equity holding in listed UK property company Hammerson to 8.9 million ordinary shares, which represents approximately 3.1% of the total share capital. The pension fund also said that it has an additional economic exposure to some 20,250,000 ...
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PropertyEU Archive
McArthurGlen opens fourth Italian designer outlet village
UK developer McArthurGlen is to open its fourth retail village in Italy. The first phase of the new development, Veneto Designer Outlet in Noventa di Piave, Venice offers 11,000 m[sup]2[/sup] of gross lettable area. Phase 2, which is scheduled to open in 2009, will provide a further 10,000 m[sup]2[/sup].
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PropertyEU Archive
Limitless withdraws offer for Minerva
Shares in UK developer Minerva fell as much as 50% on Friday after Limitless, the development arm of Dubai World, pulled the plug on its unsolicited bid for the company.
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PropertyEU Archive
Hypo RE avoids collapse with last-minute EUR 35b credit facility
Munich-based Hypo Real Estate Group has avoided a refinancing squeeze thanks to a EUR 35 bn short-term and mid-term credit facility from a consortium of Germany's financial sector and Germany's Finance Ministry, the group announced on Monday.
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PropertyEU Archive
UBS fund acquires Oslo property for EUR 88m
UBS Real Estate has entered into an agreement to acquire the Grev Wedels plass 9 building in Oslo from Norwegian Property for NOK 738 mln (EUR 88.8 mln). The office asset is being contributed to the real estate fund UBS (D) Euroinvest Immobilien.
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PropertyEU Archive
Degi invests EUR 90m in Belgium
Degi, part of Aberdeen Property Investors, has acquired a fully let office complex in Brussels for an investment volume of around EUR 90 mln. The Espace Orban complex has been purchased indirectly through property companies and will be added to the Degi International open-ended real estate fund. The seller is ...
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PropertyEU Archive
Great Portland Estates appoints non-executive chairman
UK property investor Great Portland Estates has appointed Martin Scicluna as its new non-executive chairman, succeeding Richard Peskin, who will be retiring from the board after forty years as a director of the company. Scicluna will join the board from 1 October 2008 and become chairman in March 2009.
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PropertyEU Archive
Artemis builds stake in Summit Germany
AIM-listed Summit Germany has said that UK fund manager Artemis Investment Management now holds almost 30 million shares, or 10.58% of Summit's issued share capital. Summit Germany is the Guernsey-incorporated closed-end vehicle that invests primarily in office, industrial and other commercial properties throughout Germany.
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PropertyEU Archive
JPMorgan buys Richmond Riverside from GE RE
JPMorgan Asset Management has joined forces with UK asset manager Exemplar Properties in the acquisition of the Richmond Riverside scheme from GE Real Estate. Located on the banks of the River Thames in Richmond, the complex comprises about 15,000 m[sup]2[/sup] of commercial and residential space. JPMorgan Asset Management was advised ...
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PropertyEU Archive
XXI Century reviews strategy due to difficult financing conditions
XXI Century Investments is freezing construction of any projects where financing is not in place as a result of increasing lending costs and liquidity shortages in Ukraine's banking sector. The Ukrainian real estate developer and investor said on Monday that the move is part of a review of its business ...
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PropertyEU Archive
RREEF makes first Chinese investment
RREEF's acquisition of an office building in the Chinese city of Dalian for its grundbesitz-global fund marks the first property deal in China on behalf of one of the German group's open-ended funds. The office property was acquired from Hong Kong property group Shui On Group for EUR 105 mln.
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PropertyEU Archive
Dawnay, Day Treveria in talks with investor for equity injection
Dawnay, Day Treveria (DDT), the AIM-listed investor in the German retail property, has ruled out a possible sale of the entire company as a way to maximise shareholders value because of challenging market conditions. The company said on Monday it will consider other options to boost share performance, including a ...
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PropertyEU Archive
Icade to develop Toulouse office project for UBS
French property developer Icade said on Monday that it has started the development of a 10,000 m[sup]2[/sup] office complex in the Colomiers suburb of Toulouse. Designed by architect Jean Francois Martinie, the scheme will comprise two separate buildings on four levels as well as 218 parking spaces. Delivery of the ...
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PropertyEU Archive
Hermanns-Engel joins Union Investment Real Estate
Hamburg-based Union Investment Real Estate has appointed 45-year-old Dr. Karl-Joseph Hermanns-Engel to the management board of the property investment company, with effect from 1 December 2008. Hermanns-Engel, who has a doctorate in law, replaces Michael Montebaur, who is leaving the company on 31 January 2009 to set up his own ...
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PropertyEU Archive
Two executives resign from Hypo RE Group
Hypo Real Estate announced late on Monday that the CEO of its infrastructure lending unit Depfa, and a second board member, are resigning from the Group. The news came hours after it emerged that Munich-based Hypo Real Estate had avoided becoming the latest causality of the global financial crisis thanks ...
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PropertyEU Archive
Sonae Sierra inaugurates Plaza Mayor's expansion
Sonae Sierra is inaugurating the expansion of its Plaza Mayor shopping and leisure centre in Malaga, Spain this week. Following the extension, the scheme has 53,000 m[sup]2[/sup] of gross lettable space and 3,480 parking spaces. The Portuguese developer said it has invested EUR 58 mln in the extension works, which ...
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PropertyEU Archive
Jury selects 13 projects for Prime Property Awards
A jury has shortlisted 13 real estate projects as the finalists for the first European prize for sustainable real estate investment at the Expo Real property fair in Munich next month.
