All Real Assets articles in Web Issue – Page 308
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PropertyEU Archive
Two Grosvenor funds join UK association
Two funds managed by international property group Grosvenor have joined the Association of Real Estate Funds (AREF) in the UK. AREF is the representative body for UK unlisted commercial real estate funds. The addition of the Grosvenor Shopping Centre and the Grosvenor London Office funds lifts AREF's membership to 68 ...
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PropertyEU Archive
Rising yields to attract equity-rich investors - CBRE
Prime rents across Europe remained stable in the office and retail sectors during the third quarter of 2008, with rents in the industrial sector falling slightly, according to the latest CB Richard Ellis Rent Indices. However, whilst the annual rental growth rates for all three sectors are still in positive ...
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PropertyEU Archive
Redevco sells Istanbul office building to Avea
Dutch private property company Redevco has sold an office building in Istanbul to Avea, Turkey's fast-growing mobile communications company, for an undisclosed amount. The transaction was closed during the summer.
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PropertyEU Archive
Unibail Rodamco mulls buyback of Coeur Defense - report
French property giant Unibail Rodamco is reportedly interested in buying back the Coeur Defense office tower at La Defense in Paris from bankrupt US investment bank Lehman Brothers at a significant discount. According to an article in the French weekly Challenges, the group has made an offer for the building ...
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PropertyEU Archive
Constructa sells Etap Hotel in Ile-de-France
French property company Constructa has sold the Etap hotel in Yveline, in the Ile-de-France region, to a consortium of private investors led by JCL Conseil et Développement. The buyers, which are investing via the Société Hôtelière Mantes Sully company, are purchasing the 80-room hotel for an undisclosed amount. The property, ...
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PropertyEU Archive
Sistema-Hals readies plan to deal with credit crisis
Russian real estate firm Sistema-Hals has denied that it could face difficulty in financing its short-term debt. The company was responding to recent reports suggesting that Russian real estate developers are likely to be among the worst hit by the deteriorating financing environment.
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PropertyEU Archive
KanAm pulls out of OpernTurm trophy deal in Frankfurt
KanAm, one of the most active German open-ended fund managers, has pulled out of the acquisition of the OpernTurm trophy office tower development in the Frankfurt, Germany's banking and financial centre.
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PropertyEU Archive
PWC signs major office letting in Munich
PricewaterhouseCoopers (PwC) has signed an agreement to lease space at the new Skygarden office property in Munich. The company was advised by property brokers Savills and Colliers. PwC has taken a prelet of 17,500 m[sup]2[/sup] of office space from Vivico. It will relocate its 700 Munich-based staff from Elsenheimer Strasse ...
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PropertyEU Archive
SNI buys 1,000 residential units from Gecina
France's Sociéte Nationale Immobilière (SNI), a unit of bank Caisse des Depots, has purchased around 1,000 housing units in the outskirts of Paris from French property firm Gecina. The apartments are located in Courbevoie (Hauts-de-Seine) and Saint-Michel-sur-Orge (Essonne), according to French media. The financial details of this transaction were not ...
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PropertyEU Archive
Colonial mulls EUR1.4bn bond sale to cut debt
Spanish property company Colonial has announced plans to sell EUR 1.4 bn worth of convertible bonds as part of programme to reduce its debt. In a statement to the stock market regulator, the company said it will seek shareholder approval on the new measure during a meeting to be held ...
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PropertyEU Archive
Pik wins contracts worth $1bn in Moscow region
Russian real estate developer PIK Group said on Monday that it has won several development contracts worth $1 bn (EUR 750 mln) via a tender process organised by the municipality of Moscow. The contracts will provide $1bn of municipal funds to be invested by the City of Moscow in housing ...
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PropertyEU Archive
European Data Centre market regains ground in Q2
Take-up in the European Data Centre market picked up in the second quarter of 2008 following the stagnation seen in the first three months of the year, particularly in the London market, CB Richard Ellis said on Friday. According to figures released by the broker, total market take-up for the ...
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PropertyEU Archive
Sjaelso Gruppen to spend EUR 26m on share repurchase
Danish listed real estate firm Sjaelso Gruppen said on Thursday that it has repurchased 1.5 million of its shares for a total cost of DKK 143 (EUR 19 mln) since it began a share buyback programme in March this year. The company plans to have bought EUR 26 mln worth ...
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PropertyEU Archive
Reyal-Urbis seals EUR3 bn refinancing deal
Madrid-based property company Reyal-Urbis has reached a deal with 51 banks to refinance its EUR 3 bn mountain of debt. In a statement on Monday to the Spanish stock market regulator, the debt-laden property firm said it has obtained two new credit lines which will allow the group to have ...
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PropertyEU Archive
Pirelli RE to develop new HQ for 3M in Pioltello
Italy's Pirelli Real Estate said it will develop the new Italian headquarters for US technology company 3M. The new head office is expected to house around 600 employees on completion in 2010. Designed by architectural firm Studio MCA, the project will be located within the Malaspina Business Park in Pioltello, ...
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PropertyEU Archive
Colonia RE secures EUR 30m refinancing
German property compnay Colonia Real Estate has secured a refinancing of one of its residential portfolios through a successful debt-buyback. The financing volume was more than EUR 30 mln. The company agreed the financing in May this year at a fix-rate mortgage with a German mortgage bank. The coupon is ...
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PropertyEU Archive
BBK buys 33% stake in Bilbao's Iberdrola tower
Unlisted Spanish savings bank BBK has invested EUR 80 mln in the Torre Iberdrola tower project which is being developed in Bilbao by Spanish power company Iberdrola. The bank is acquiring a stake in the project from Iberdrola's former development partner, Promotora Vizcaína (PV), which struggled to find the much-needed ...
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PropertyEU Archive
Fonciere Paris France agrees EUR 34m sale with Sagi
Listed property company Fonciere Paris France has announced the sale of Les Ellipses office building in Saint Maurice to Sagi, part of the Groupe SNI - Caisse des Depots. The transaction amount comes to EUR 34 mln. Les Ellipses provides 9,300 m[sup]2[/sup] of leasable office space leased to several tenants. ...
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PropertyEU Archive
Top 5 deals of Week 42
The largest deal with financial details recorded by PropertyEU between 13 and 17 October was the Realkapital Partners acquisition of an office building in Paris and logistics scheme in Algers for its Realkapital European Opportunity II fund for EUR 80 mln.
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PropertyEU Archive
Restaura SL sells 45% of R-SIIC
Spanish group Restaura SL has sold a 45% interest in its French real estate investment arm R-SIIC. The company, which previously held a 98.5% stake in R-SIIC, has disposed of a total of 71,068 R-SIIC shares, representing a 45% stake in the French firm. The stocks were bought by the ...
