All Real Assets articles in Web Issue – Page 31
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PropertyEU Archive
JER sells share in Marriot hotel in Paris
JER Partners (JER), the US-based private equity real estate investor, has announced the sale of its 50% stake in the Marriot Courtyard hotel in Paris. The 242-room, four-star hotel is located in the Neuilly-sur-Seine of the French capital. The buyer and the financial details of the sale were not disclosed.
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PropertyEU Archive
Affine purchases a 21,000 m[sup]2[/sup] warehouse in Lille
Affine, a French development and construction company, has purchased a logistic building, comprising 19,000 m[sup]2[/sup] of warehouse and 2,800 m[sup]2[/sup] of office space, on a 6-hectare plot of land in Leers in the industrial zone of eastern Roubaix. The financial details of the acquisition were not disclosed.
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PropertyEU Archive
Acciona to complete 24.9% stake buy in Endesa
Madrid-based construction group Acciona plans to complete the transaction of a 24.9% stake in Endesa in the coming days, Spanish national news agency EFE has reported. The builder increased its stake in the utility with the purchase of an additional 3.5 million shares on December 29, and will reach its ...
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PropertyEU Archive
REIT index unveiled on day 3 of trading on LSE
FTSE Group, the global index provider, has launched a new index to measure the performance of the nine UK property companies that converted to real estate investment trust (REIT) status on 1 January. The unveiling of the FTSE EPRA/NAREIT UK REIT index coincided with a ceremony at the London Stock ...
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PropertyEU Archive
Metrovacesa to trade ex right 5 million shares
Metrovacesa will issue one bunus share for every 20 shares held. The total issue comes to a total of five million shares valued at a price of EUR 1.5, increasing its capital by around EUR 7.63 mln. Metrovacesa's shares will trade ex right as of tomorrow until January 19.
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PropertyEU Archive
Consum acquires 53 supermarkets
Spanish cooperative Consum has acquired 53 Supersol supermarkets and two logistics buildings owned by the Dinosol supermarket chain in Catalonia, the two companies announced in a joint press release. The financial details of the acquisition were not disclosed.
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PropertyEU Archive
Tesco in EUR 661 mln property venture
Tesco has announced it is to raise £445 mln (EUR 661 mln) by selling 16 of its stores to a 50/50 joint venture establishment with the British Airways Pension Fund. The move is part of a scheme unveiled in April last year to realise up to EUR 5 bn over ...
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PropertyEU Archive
Immofinanz acquires Gerling headquarters in Cologne
German property company Immofinanz has acquired a 50% stake in a project in Cologne in a joint venture with the German developer Frankonia. The project consists of several office buildings with a total area of 140,000 m2, including the 47,000 m[sup]2[/sup] underground parking lot.
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PropertyEU Archive
CapMan RE fund makes new acquisition
The CapMan Real Estate I private equity fund has purchased a property in Helsinki days after announcing the sale of its existing portfolio to a joint venture company for EUR 377.5 mln. The property and lot at Kalevantu 20 in Helsinki was acquired from the Local Government Pensions Institution. The ...
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PropertyEU Archive
Ferrovial to sell airport assets
Ferrovial, the Spanish construction, infrastructure and services group, is in advanced talks to sell Budapest Airport to Hochtief, the German construction and infrastructure group, in a deal that should be completed by the end of January. The Spanish group acquired control of Budapest and Naples airports, as well as minority ...
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PropertyEU Archive
Dutch architect awarded European projects and awards
Dutch architect company EEA has been awarded new project in London's Canning Town and a mixed-use project in Metz, France, as its founder Erick van Egeraat has won two architectural awards for the projects in Hungary.
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PropertyEU Archive
EOP will consider rivals to Blackstone bid
The fate of the largest real estate deal in history remains uncertain after Equity Office Properties Trust (EOP) confirmed in late December that it will consider higher bids than the record-breaking $20 bn plus $16 bn in debt assumption tabled by the Blackstone Group in November.
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PropertyEU Archive
Commerzbank bundles real estate operations
Germany-based Commerzbank is bringing together its real estate operations into one line of business, board member Bernd Knobloch told German business daily Handelsblatt. In February, the real estate investment fund unit CGI will be moved to Commerzbank's commercial real estate unit, which comprises the recently acquired real estate bank Eurohypo ...
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PropertyEU Archive
Mirland buys stake in Moscow skyscraper project
Mirland Development Corporation, the Cypriot-based real estate company, has completed the acquisition of a Cyprus-based company that holds 58% of a Russian group with leasehold rights in land to be used for Mirland's skyscraper development project in Moscow. The price for the acquisition comes to EUR 10 mln, of which ...
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PropertyEU Archive
Meinl EL expands further in Poland
Austrian development company Meinl EL is to develop a 71,000 m[sup]2[/sup] multifunctional centre in Gdansk in a joint venture with Danish-based TK Development. The project will involve a total investment of EUR 100 mln and will be entirely financed by the Austrian group. TK Development will receive a fee for ...
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PropertyEU Archive
AFI to invest in 10 projects in Eastern Europe
AFI Europe is to acquire 10 real estate projects in Europe from Israel-based BSR Europe for EUR 140 mln. The investment company will buy the seller's entire stake in the projects, which are in Poland, Latvia, Slovakia, Hungary, Bulgaria and Cyprus, news agency Reuters has reported.
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PropertyEU Archive
Bouygues sells Bristol building for EUR 35 mln
Bouygues Immobilier, the property division of France's Bouygues, has sold the 'Bristol' building to a foreign fund for EUR 35 mln, excluding taxes, in a sales prior to completion agreement (VEHA). The asset is located on Pommiers in Val-de-Marne, Northern France. The Arthur Loyd company acted as advisor in the ...
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PropertyEU Archive
El Corte Ingles buys property firm for EUR 480 mln
Department store chain El Corte Ingles has acquired real estate company Ason from the Reyzabal family for EUR 480 mln. The Spanish property group owns the Madrid plot of land where the landmark Windsor office tower stood in the heart of the city before the blaze in February 2005 ...
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PropertyEU Archive
Atisreal secures 5 office deals in Madrid
Property advisor Atisreal has secured five new office deals in Madrid. Real estate company C-15 has acquired a building to house its headquarter in Madrid. The office building, with an area of about 700 m2, is located at 23 Oquendo street, near the central Avenida de America.
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PropertyEU Archive
Nozar buys EUR 76 mln factory in Madrid
Construction company Nozar has acquired a building from the Spanish liftmaker Zardoya Otis for EUR 76 mln, to be paid by 2010. The building, located in Madrid, houses one of the lifts' factories owned by Zardoya. In a statement, Zardoya said it expects the profit of the transaction to be ...
